As per Market Research Future (MRFR), the Cold Chain Monitoring Market will exhibit a CAGR of 14.7% in the forecast period of 2022 to 2030 and is expected to reach USD 12.6 Billion by 2030.. The report offers an overview of emerging trends in the global cold chain monitoring market. In addition, the report explains the effect of the novel COVID-19 pandemic on the global cold chain monitoring market.
Cold Chain Monitoring is a logistic solution for monitoring and recording data seamlessly, which allows strict instructions and guidelines for the validated solutions. Monitoring systems are placed to maintain the efficacy and freshness of food and vaccines at the appropriate temperature and avoid spoilage. This system plays a vital role in the warehouses used for cold storage applications. It is usually used in sectors such as food and beverage, healthcare, pharmaceuticals, agriculture, and others.
Cold chain monitoring is primarily applied to chilled and frozen foods to improve their self-life and preserve quality standards over a longer period. Specifically, it helps maintain the biochemical and physical properties of frozen foods and is useful in regulating off-season market prices. It also helps avoid the loss of the product and reduces the waste, which eventually increases the overall income of the manufacturer or producer.
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Notable players in the global cold chain monitoring market are NXP Semiconductors N.V., Berlinger Co AG, Infratab Inc., Sensitech, Inc., Controlant, Monnit Corporation, NEC Corporation, ORBCOMM Inc., Elpro-Buchs A G., Zest Labs Inc. (Ecoark Holdings).
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The global cold chain monitoring market has been segmented into components, applications, and logistics.
By component, the global cold chain monitoring market has been segmented into software, hardware, and services. The hardware segment is further divided into RFID devices, sensors, networking equipment, and telemetry telematics devices.
By application, the global cold chain monitoring market has been segmented into food beverages, chemicals, and pharmaceuticals healthcare.
By logistics, the global cold chain monitoring market has been segmented into warehousing and transportation.
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Region-wise, the global cold chain monitoring market has been segmented into North America, Europe, Asia Pacific (APAC), the Middle East Africa (MEA), and Latin America.
North America is expected to attain a substantial portion of the cold chain monitoring market in the next few years. The involvement of well-established healthcare and pharmaceutical industries is expected to drive the growth of the industry in the coming years. Strict rules and regulations considering the cold chain monitoring are expected to ensure the development of North America in the coming years. Furthermore, the increase in demand for frozen and chilled foods is expected to help market growth in the near future. Moreover, Europe is expected to see healthy growth in the coming years, followed by the Asia Pacific in the coming years.