Cold chain tracking and monitoring refers to the process of closely monitoring and managing the transportation and storage of temperature-sensitive products to ensure that they are kept within the required temperature range throughout the entire supply chain. The cold chain refers to a temperature-controlled supply chain that includes the handling of perishable goods, pharmaceuticals, vaccines, and other temperature-sensitive products.
The goal of cold chain tracking and monitoring is to preserve the quality, safety, and efficacy of these products by preventing temperature excursions that could compromise their integrity. Temperature-sensitive products may be subject to degradation or spoilage if exposed to temperatures outside their specified range. For instance, vaccines can lose potency, and perishable foods can spoil if not kept at the right temperature during transportation and storage.
Access Full Report @ https://www.databridgemarketresearch.com/zh/reports/global-cold-chain-tracking-and-monitoring-market
Data Bridge Market Research analyses that the Global Cold Chain Tracking and Monitoring Market is expected to grow at a CAGR of 15.5% in the forecast period of 2023 to 2030 and is expected to reach USD 13,787,336.06 thousand by 2030. The increasing partnerships and collaborations among companies are presenting significant opportunities for the market.
Key Findings of the Study
Advancements in Cold Chain Technologies
Advancements in cold chain technologies play a pivotal role in driving the growth of the market. These technological innovations continuously enhance the efficiency, safety, and reliability of transporting and storing perishable goods, meeting the evolving demands of the industry.
For instance,
- According to an article published by The Loadstar on February 2023, explores how IoT (Internet of Things) technology and monitoring solutions offer a promising solution to the energy challenges faced by the cold chain industry. By efficiently managing and optimizing energy usage, these innovations can significantly improve the sustainability and reliability of cold chain operations
- The article, available on IBM's website, delves into the integration of IoT and blockchain technologies to enhance the security and efficiency of the cold chain industry. By leveraging real-time data from IoT devices and immutable records through blockchain, stakeholders can ensure the integrity and traceability of temperature-sensitive goods throughout the supply chain. The combination of these cutting-edge technologies addresses key challenges in maintaining the cold chain's quality and reliability
In conclusion, the convergence of cutting-edge technological advancements in cold chain tracking and monitoring has ignited a surge in demand, as businesses increasingly appreciate their role in maintaining product integrity, minimizing waste, and complying with regulations, which is expected to drive market growth.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 to 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 (Customizable to 2015 - 2021)
|
|
Quantitative Units
|
Revenue in USD Thousand
|
|
Segments Covered
|
By Offering (Hardware, Software), Temperature Type (Frozen, Chilled), Logistics (Storage, Transportation), Connectivity (Cellular, Lorawan, Sigfox, Bluetooth, Others), Organization Size (Small & Medium Organization Size, Large Organization Size), End User (Pharmaceuticals & Healthcare, Food & Beverages, Chemicals, Agriculture, Manufacturing, Others)
|
|
Countries Covered
|
North, U.S., Canada, Mexico, Asia-Pacific, China, Japan, Australia, South Korea, Singapore, Thailand, Indonesia, Taiwan, Hong Kong, Malaysia, New Zealand, Philippines, Asia-Pacific., Europe, Germany, U.K. France, Spain, Belgium, Russia, Netherland, Italy, Turkey, Switzerland, Sweden, Denmark, Norway, Finland, and rest of Europe, Middle East and Africa, U.A.E., Saudi Arabia, South Africa, Egypt, Qatar, Kuwait, Bahrain, Oman, Israel, and rest of Middle East and Africa, South America, Brazil, Argentina, South America.
|
|
Market Players Covered
|
Carrier (U.S.), Tive Inc.(U.S.), Berlinger & Co. AG(Switzerland), Accent Advanced Systems, SLU.(Spain), Digital Matter(South Africa), ELPRO-BUCHS AG (A Subsidiary of Robert Bosch GmbH) (Switzerland), Copeland LP.(U.S.), Trusted A/S (Denmark), Roambee Corporation (U.S.), SenseGiz (India), Hanhaa (U.K.), EnrichAI (India), Monnit Corporation (U.S.), ORBCOMM (Subsidiary of GI Partners) (U.S.), UnaBiz (Singapore) , Cooltrax (Australia), Infratab Inc (U.S.), Control (Iceland), and Kizy Tracking SA (A subsidiary of Spectos Group) (Switzerland) , and AKCP (Thailand)among others.
|
|
Data Points Covered in the Report
|
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
|
Segment Analysis
The global cold chain tracking and monitoring market is segmented into six notable segments on the basis of offering, temperature type, logistics, connectivity, organization size, and end user.
- On the basis of offering, the global cold chain tracking and monitoring market is segmented into hardware and software.
In 2023, the hardware segment is expected to dominate the global cold chain tracking and monitoring market
In 2023, the hardware segment is expected to dominate the global cold chain tracking and monitoring market with a 69.39% market share, as the increasing need for safe handling of temperature-sensitive products is driving companies to invest in accurate monitoring hardware, giving them a competitive advantage
- On the basis of temperature type, the global cold chain tracking and monitoring market is segmented into frozen and chilled.
In 2023, the chilled segment is expected to dominate the global cold chain tracking and monitoring market
In 2023, the chilled segment is expected to dominate the global cold chain tracking and monitoring market with a 66.55% market share, due to its perishable nature and specific temperature needs. Refrigeration is cost-effective and easier to manage than deep freezing.
- On the basis of logistics, the global cold chain tracking and monitoring market is segmented into storage and transportation. In 2023, the transportation segment is expected to dominate the market with a 63.44% market share
- On the basis of connectivity, the global cold chain tracking and monitoring market is segmented into cellular, lorawan, sigfox, Bluetooth, and others. In 2023, the cellular segment is expected to dominate the market with a 49.15% market share
- On the basis of organization size, the global cold chain tracking and monitoring market is segmented into small & medium organization size and large organization size. In 2023, the large organization size segment is expected to dominate the market with a 73.13% market share
- On the basis of end user, the global cold chain tracking and monitoring market is segmented into pharmaceuticals & healthcare, food & beverages, chemicals, agriculture, manufacturing, and others. In 2023, the food & beverages segment is expected to dominate the market with a 38.72% market share
Major Players
Data Bridge Market Research recognizes the following companies as the major key players in the Global cold chain tracking and monitoring market are Carrier, Tive, Inc., Berlinger & Co. AG, Accent Advanced Systems, SLU., Digital Matter, ELPRO-BUCHS AG (A Subsidiary of Robert Bosch GmbH), Copeland LP., Trusted A/S, Roambee Corporation, SenseGiz, Hanhaa, EnrichAI, Monnit Corporation, ORBCOMM (Subsidiary of GI Partners), UnaBiz, Cooltrax, Infratab, Inc, Controlant, and Kizy Tracking SA (A subsidiary of Spectos Group), and AKCP among others.
Market Development
- 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.
- In July 2023, Digital Matter's Hawk IoT Data Logger has been awarded the 2023 IoT Evolution Product of the Year Award, showcasing the company's exceptional innovation in the IoT sensor monitoring market. The Hawk offers a flexible and simplified approach to remote monitoring solutions, reducing costs and complexity for users. This award highlights the company's commitment to delivering exceptional products and driving innovation forward.
- In June 2023, Monnit Corporation IoT Asset Tracking Solutions for Cold Chains have been awarded the 2023 IoT Evolution Asset Tracking Award, providing third-party validation for their innovative IoT sensors, gateways, and cloud platforms. This recognition highlights Monnit's excellence in automating asset tracking functions, increasing efficiencies, and optimizing asset performance in cold chain environments.
- 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.
- 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 demonstrates its commitment to driving positive change in temperature-controlled logistics and distribution.
Regional Analysis
Geographically, the countries covered in the global cold chain tracking and monitoring market report are North, U.S., Canada, and Mexico, Asia-Pacific, China, Japan, Australia, South Korea, Singapore, Thailand, Indonesia, Taiwan, Hong Kong, Malaysia, New Zealand, Philippines, Asia-Pacific., Europe, Germany, U.K. France, Spain, Belgium, Russia, Netherland, Italy, Turkey, Switzerland, Sweden, Denmark, Norway, Finland, and rest of Europe, Middle East and Africa, U.A.E., Saudi Arabia, South Africa, Egypt, Qatar, Kuwait, Bahrain, Oman, Israel, and rest of Middle East and Africa, South America, Brazil, Argentina, South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the cold chain tracking and monitoring market globally during the forecast period 2023 - 2030
In 2023, North America is expected to dominate the cold chain tracking and monitoring market due to several factors. The region has a well-established food and pharmaceutical sector, which creates a high demand for cold chain tracking and monitoring solutions in various applications. Moreover, the region has strict environmental and safety regulations, which require the use of high-quality cold chain tracking and monitoring.
North America is estimated to be the fastest growing region in the global cold chain tracking and monitoring market in the forecast period 2023 - 2030
North America is expected to grow during the forecast period due to the increasing adoption of advanced technologies in cold chain industries, such as food and pharmaceutical sector is expected to drive the demand for cold chain tracking and monitoring in the region. In addition, the growth of e-commerce and online grocery shopping has significantly contributed to the expansion of market, which further drives the demand for cold chain tracking and monitoring.
For more detailed information about the market report, click here – https://www.databridgemarketresearch.com/zh/reports/global-cold-chain-tracking-and-monitoring-market
