The global cold chain tracking and monitoring market is experiencing significant growth, driven by the increasing demand for temperature-sensitive products, stringent regulations in the pharmaceutical and food industries, and the need for improved supply chain efficiency. The market encompasses a wide range of solutions, including data loggers, sensors, monitoring systems, and software designed to monitor and manage the temperature, humidity, and other environmental conditions of products throughout the supply chain. These solutions help ensure product integrity, compliance with regulatory requirements, and the prevention of costly product spoilage. The market is expected to continue growing as industries increasingly recognize the importance of maintaining the integrity of temperature-sensitive products throughout the supply chain.
The Global Cold Chain Tracking and Monitoring Market is expected to reach a value of USD 13,787,336.06 thousand by 2030, at a CAGR of 15.5% during the forecast period.
Below are the Top Five Cold Chain Tracking and Monitoring Companies with a Significant Market Share:
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Rank
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Company
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Overview
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Product Portfolio
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Sales Geographical Coverage
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Developments
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1.
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Carrier
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Carrier is a key player in the global cold chain tracking and monitoring market, offering advanced solutions that ensure the integrity, safety, and efficiency of temperature-sensitive goods throughout the supply chain. Carrier's portfolio in this market includes state-of-the-art refrigeration units, monitoring systems, and data analytics tools designed to provide real-time visibility and control over the entire cold chain process.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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In April 2023, Sensitech showcased solutions at LogiPharma, including the TempTale GEO Ultra, TempTale Ultra datalogger, Coldstream Site, and TempTale Ultra BLE. These products offer real-time location tracking, temperature monitoring, in-storage automation, and Bluetooth temperature monitoring for air transport, in-transit, cold storage, and last-mile applications. This will help Sensitech demonstrate its commitment to driving positive change in temperature-controlled logistics and distribution.
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2.
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Copeland LP.
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Copeland LP is a key player in the global cold chain tracking and monitoring market, offering a range of products and services that ensure the integrity and safety of temperature-sensitive goods throughout the supply chain. The company's solutions are designed to provide real-time visibility, control, and analytics to optimize cold chain operations.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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In June 2023, Emerson leveraged the Internet of Things (IoT) to enhance cold chain leadership and safeguard food safety, addressing consumers' concerns about food safety with real-time monitoring throughout the food "cold chain." The company's expertise in refrigeration and food safety technology enables it to provide advanced solutions that help meet new requirements and maintain food quality during transportation. This development not only strengthens Emerson's position as an industry leader but also positions the company to meet the increasing demands for food safety regulations and consumer expectations.
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3.
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UnaBiz Pte., Ltd
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UnaBiz focuses on providing IoT solutions for cold chain tracking and monitoring, offering a range of products and services that ensure the integrity and safety of temperature-sensitive goods during transportation and storage. The company's solutions leverage LPWA technology to provide cost-effective and scalable cold chain monitoring solutions.
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Europe, Asia-Pacific
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In July 2023, UnaBiz and Soracom signed a Global IoT Distribution Agreement to offer cellular connectivity to UnaBiz's customers. The collaboration aims to provide pervasive Global IoT Network Coverage from 0G to 5G, enabling massive IoT deployments. This collaboration strengthens the companies' shared vision of enabling IoT at scale, supporting business objectives, and promoting sustainability through ESG (Environmental, Social, and Governance) goals.
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4.
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Roambee Corporation
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Roambee Corporation specializes in providing end-to-end visibility and monitoring solutions for the cold chain industry. The company's advanced tracking devices, cloud-based platform, and analytics tools enable customers to monitor the location, condition, and quality of their temperature-sensitive goods in real-time.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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In October 2021, Roambee Corporation partnered with Transporeon to enhance global end-to-end real-time supply chain visibility. The collaboration aims to leverage Roambee's sensor-driven insights and Transporeon's cloud-based platform to offer comprehensive visibility and monitoring throughout the supply chain. This partnership enabled businesses to optimize logistics operations, improve efficiency, and enhance customer satisfaction by accessing real-time data and insights.
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5.
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ELPRO-BUCHS AG
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ELPRO-BUCHS AG focuses on providing comprehensive monitoring solutions for the cold chain industry. The company's products and services are designed to help customers monitor and manage the temperature, humidity, and other environmental conditions of their products throughout the supply chain, ensuring compliance with regulatory requirements and maintaining product integrity.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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In April 2023, ELPRO-BUCHS AG and Zuellig Pharma hosted the "Pharma 4.0 Event on Digital Transformation in Cold Chain" in Singapore. The event aims to bring together industry leaders to discuss and collaborate on digital transformation in cold chain management. Key benefits include knowledge sharing, networking opportunities, and insights into optimizing processes and mitigating risks.
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Conclusion
The market is poised for robust growth, driven by increasing demand for temperature-sensitive products, technological advancements, and regulatory requirements. Companies operating in this market are focusing on innovation and strategic partnerships to enhance their market presence and meet the evolving needs of customers. The market is characterized by the adoption of IoT, blockchain, and cloud-based solutions, and a focus on sustainability and integration of AI and predictive analytics. North America and Europe currently dominate the market, but Asia-Pacific is expected to witness substantial growth. Despite the market's potential, challenges such as high initial investment, integration complexity, and data security concerns remain. Overall, the market presents lucrative opportunities for companies offering innovative and reliable cold chain tracking and monitoring solutions.
