Cold Chain Monitoring Market Opportunities, Share and Industry Forecast

Market Highlights

The advances in distribution channels have led to the rise in transportation for various kinds of edible products that were not possible earlier. Reports that provide understanding of the semiconductor and electronics industry has been presented by Market Research Future, which creates reports on industry verticals that judge the market progress and options for growth. A USD 7.15 billion earning level is anticipated to be gained by the end of the forecast.

The need to decrease food wastage is a key factor that is furthering the growth of the cold chain monitoring market. Moreover, the need to develop safe means for transporting pharmaceutical products is expected to open up novel growth prospects for the cold chain monitoring market in the upcoming period.

Segmentation:

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

Detailed Regional Analysis

The regional examination of the cold chain monitoring market covers regions such as North America, Europe, Asia Pacific, Africa, the Middle East, and Latin America. The North American region accounts for the most noteworthy segment of the cold chain monitoring market globally. In 2017, the North American region controlled a third of the total market share and was estimated to preserve its position over the forecast period. The cold chain monitoring market in the region is compelled by factors such as a growing preference for newly picked produce, viable investments in cold chain solutions, and developing demand for cold storage in the pharmaceutical sector. In the meantime, the augmented economic development and the expansion of cold chain monitoring in the Asia Pacific region have activated a healthy demand for prevailing cold storage technologies and transportation. The region has also been recognized as a rapidly expanding region in the cold chain monitoring market owing to the development of the manufacturing sector.

Competitive Analysis

The enhancement of production resources is expected to create a favorable impetus for the advance of the market. The contenders in the market are crafting their strategy in a way that supports optimum profits and resource utilization. The improvement in international trade is expected to further develop the development of the market in the coming years. The development of more integrated supply channels is anticipated to provide an upper hand to the market contenders in the forthcoming period. The governmental bodies around the world are increasing their contribution to market development. The amplification in the number of investments is predicted to motivate the market considerably in the coming years. The incidence of apt investments or backing is expected to motivate the progress of the global market in the forecast period. The stabilization of export trends in the international market is expected to further encourage the market’s development in the coming period.

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

Industry Updates:

Dec 2019 To remove the obstacle of a faulty food cold chain which results in massive food waste and underserved communities is being undertaken with the Department of Environment and Natural Resources of the Philippines (DENR) and United Nations Industrial Development Organization (UNIDO) as one. They are jointly heading a novel initiative aimed at operating an environmentally friendly, energy-efficient refrigeration through the cold chain beginning from the farms to packing houses via cold-storage warehouses and lastly, stores while advancing food safety, monitoring, and security.

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