Global Cold Chain Tracking And Monitoring Market Size By Type (Hardware, Software), By Application (Food and Beverages, Pharma & Healthcare), By Geographic Scope And Forecast

Cold Chain Tracking And Monitoring Market Size And Forecast

Cold Chain Tracking And Monitoring Market size was valued at USD 6.60 Billion in 2022 and is projected to reach USD 19.51 Billion by 2030, growing at a CAGR of 11.5% from 2024 to 2030.

Cold chain motoring and tracking solutions minimize risk during day-to-day operations and as a result, increase overall management efficiency in the logistics process. The Global Cold Chain Tracking And Monitoring Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Cold Chain Tracking And Monitoring Market Definition

The term cold chain is used to define the process of storing and transporting temperature-sensitive products along a supply chain, usually from the point of manufacture to the point of use. The cold chain system uses thermal and refrigerated packaging methods along with logistical planning in order to ensure the integrity of the products being stored and transported. Cold chain products can be transported in a variety of methods such as through airways, waterways, roadways, or railways. In order to maintain the quality of the product being shipped, Cold chain tracking and motoring are employed.

Cold chain tracking and motoring can help enable reliable real-time monitoring and historical analytics for the cold supply chain by recording critical environmental parameters for cold chain products. The adoption of cold chain tracking and motoring solutions helps by aiding in safe shipping and overall distribution, certified delivery, better product integrity/quality, and helping clients achieve predictive maintenance which can boost operational efficiency and overall customer satisfaction. The most prominent uses of cold chain monitoring and tracking solutions fall under the Food & Beverage and Pharmaceutical & Healthcare sectors.

Let's face it, in both the Food & Beverage and Pharmaceutical industries, messing up refrigeration during transport and storage is a HUGE problem. It's a key reason why we see so much food waste, lost income, and wasted resources in logistics. And things are only getting tougherregulatory standards are becoming more stringent, making it even more crucial to play by the rules. The good news? Monitoring and tracking solutions can help at every stage of the cold chain process. By keeping a close eye on things, we can cut down on food waste, make sure drugs stay potent, and ensure we're following all the standards and rules every single step of the way.

Global Cold Chain Tracking And Monitoring Market Overview

The adoption of cold chain motoring and tracking solutions has been witnessed to provide advantages such as increased revenue recognition and reduced operational costs through reduced shipment/storage losses, greater adherence to quality standards and regulations, and increased on-time delivery and product quality. Cold chain motoring and tracking solutions minimize risk during day-to-day operations and as a result, increase overall management efficiency in the logistics process. Manufacturers are increasingly being asked to export big quantities of pharmaceutical products over considerable distances. These goods can be extremely sensitive and valuable.

Okay, so manufacturers have to basically build their own road map for getting products from point A to point B without anything spoiling along the way. That's why we're seeing a big jump in demand for temperature-controlled logistics. It's becoming super important, especially in the pharmaceutical industry. Think about itmore temperature-sensitive drugs and super cool biological medical products are hitting the market. Plus, everyone – from the pharma companies to the logistics folks – is clued in on how important it is to keep things at the right temp. That’s really driving the growth in temperature-controlled pharmaceutical logistics! And with things getting more digital, technology's a huge deal in the Cold Chain Tracking And Monitoring Market. Honestly, with all this data flying around, this sector has never been so informed.

The logistics world is buzzing with chances to get better! As more cold chain suppliers set up warehousing facilities, we're seeing a real shift towards more organized warehousing. That means we'll need even more technology to keep up! Now, let's be real, the Cold Chain Tracking and Monitoring Market needs a lot of investment – think big fleets of vehicles, special containers at ports, super-techy warehouses perfect for all sorts of products, and a team of skilled folks. So, to really compete, cold chain logistics companies have to keep a tight grip on those operational costs.

Global Cold Chain Tracking And Monitoring MarketSegmentation Analysis

The Global Cold Chain Tracking And Monitoring Market is segmented on the basis of Type, Application, and Geography.

Cold Chain Tracking And Monitoring Market, By Type

• Hardware
• Software

Based on Type, the market is segmented into Hardware and Software. Hardware accounted for the largest market share in 2019. The most common hardware components that are used for cold chain tracking and tracing include sensors, telematics & telemetry, data loggers, RFID devices, and networking devices. Sensors and data loggers are witnessed to have an increasing demand due to their use in gathering real-time data across the pharmaceutical industry.

Cold Chain Tracking And Monitoring Market, By Application

• Food and Beverages
• Pharma & Healthcare
• Others

To Get Summarized Market Report By Application-

Based on Application, the market is segmented into Food and Beverages, Pharma & Healthcare, and Others. Food and Beverages accounted for the largest market share in 2019. The increasing focus on health, quality, and overall integrity of products has prominently affected the food and beverage industry. With the food and beverage industry being heavily dependent on the integrity of the product, the dynamic supply chains in this industry are exposed to an increased risk of quality and compliance issues. Tracking and monitoring can help increase durability, prolong shelf life, and prevent infection during storage and transportation.

Cold Chain Tracking And Monitoring Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

To Get Summarized Market Report By Regional Analysis-

Okay, so when we look at the Global Cold Chain Tracking And Monitoring Market, we can break it down by regionNorth America, Europe, Asia Pacific, and basically everywhere else. Right now, North America is the big player, leading the way in the market. And it's expected to stay that way, mainly because they've got a super solid transportation and distribution system, they're quick to adopt new tech, and there's a growing appetite for processed foods. Plus, all that meat and poultry they're shipping out in refrigerated containers? That's driving demand for cold chain monitoring big time, since keeping that stuff fresh is key.

Key Players

The “Global Cold Chain Tracking And Monitoring Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Thales Group, Emerson Electric Co, NXP Semiconductor NV, Haier Biomedical, Sensitech Inc, Orbcomm, Inc, Omega Engineering Inc., Controlant, Cold Chain Technologies, Testo, Hanwell Solutions Ltd, Infratab, Inc., Rotronic AG, Signatrol, Ltd, Monnit Corporation, Zest Labs.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In July 2021, Prime Inc., North America’s largest refrigerated fleet, will begin retrofitting its refrigerated trailers with ORBCOMM’s next-generation refrigerated monitoring technology.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Cold Chain Tracking And Monitoring Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.