Cold Chain Monitoring Market Analysis, Segmentation, Business Revenue Forecast and Future Plans

Market Highlights

The cold chain temperature monitoring devices are improving rapidly, which is expected to transform the market in the forecast period. The insights into the industry of semiconductors and electronics are advanced by Market Research Future, which concentrates on reports on industry verticals that review the market options for growth. A healthy CAGR of 9.6 % is anticipated to boost the cold chain monitoring market 2020 in the coming period.

The escalation in demand for cold chain monitoring is fueled by the surge in the refrigerated warehouses which is boosting the market’s growth. The current changes in product development are responsible for the progress of cold chain monitoring. The expansion of the market is also substantially dependent on the rise in the food & beverage and pharmaceutical sector globally. The market’s expansion is anticipated to be further fueled by the regulatory frameworks that are being reinforced in the upcoming forecast period.

Segmentation:

The segmental assessment of the cold chain monitoring market share has been carried out on the basis of logistics, application, component, and region. Based on the components, the market for cold chain monitoring has been segmented into hardware, services, and software. Based on the applications, the market for cold chain monitoring has been segmented into food & beverages (FnB), chemicals, pharmaceuticals & healthcare. On the basis of logistics, the cold chain monitoring market has been bifurcated into transportation and warehousing. On the basis of the regions, the market for cold chain monitoring is segmented into Europe, the Middle East, Asia Pacific, North America, Africa, and Latin America.

Detailed Regional Analysis 

The regional analysis of the cold chain monitoring market consists of regions such as North America, Asia Pacific, Europe and rest of the world. The North American region, with its inclusion of the U.S, is responsible for the most important share of the cold chain monitoring market. The market in this region is found to be driven by factors such as a growing preference for fresh produce, sustainable investments in cold chain solutions and mounting demand for cold storage in the pharmaceutical sector. Meanwhile, the enhanced economic growth and the development of cold chain monitoring in the Asia Pacific region have activated a robust demand for existing cold storage technologies and transportation. The region also has been recognized as a quickly growing region in the cold chain monitoring market owing to the growth of the manufacturing sector.

Competitive Analysis

The need to keep the market practices in sync with the environmental concerns that are looming is expected to promote the overall sustainability of the market. The upturn in the performance of domestic markets is expected to have a favorable impression on the growth of the market. The ability to successfully satisfy the demand forces will require the industry to excel in several areas. the variation of the workforce can enable the successful implementation of growth strategies in the market. It is also noted that the cooperation by the governments around the world in terms of relaxation of several barriers and the institution of constructive strategies is expected to put the market on a track for unparalleled development. The limitations in the market are constantly being studied so that breakthroughs to remove them can be undertaken.

The topmost contenders in the cold chain monitoring market are Sensitech, Inc., Berlinger & Co AG,  Controlant, Monnit Corporation, ORBCOMM Inc., NEC Corporation, NXP Semiconductors N.V., Infratab Inc., Elpro-Buchs A G. and  Zest Labs Inc. (Ecoark Holdings).

Industry Updates:

Oct 2019 Kudelski Group and CoreKinect have recently delivered FreshTrack, the first secure, flexible & disposable cold chain tracking solution. The joint solution offers asset monitoring at scale, safeguarding product excellence, genuineness, and traceability. Its primary implementation is expected to be for cold chain monitoring across grocery stores.

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