Global Cold Chain Monitoring Market (2020 to 2025) - Availability of Cold Chain Logistics in Developing Countries Presents Opportunities
DUBLIN, June 23, 2020 /PRNewswire/ -- The "Cold Chain Monitoring Market with COVID-19 Impact Analysis by Offering (Hardware & Software), Temperature Type (Frozen & Chilled), Logistics (Storage & Transportation), Application (Pharmaceuticals & Healthcare, Food & Beverages, Chemicals), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global cold chain monitoring market was valued at USD 4.7 billion in 2019 and is projected to reach USD 8.2 billion by 2025; it is expected to grow at a CAGR of 12.5% from 2020 to 2025.
The global cold chain monitoring market size is likely to exhibit significant growth in the coming years. It is expected to reach USD 8.2 billion by 2025 at a CAGR of 12.5% from 2020 to 2025. The key factors driving the growth of the cold chain monitoring market the increasing global demand for temperature-sensitive drugs, surging demand for better food quality, intensifying need to reduce food wastage, surging demand for generic drugs owing to higher accessibility, and increasing government focus on issuing policies impacting the supply chain efficiency of the fast-growing pharmaceuticals sector in Europe and North America.
Market for hardware to account for largest market share during forecast period
The hardware segment is expected to continue to hold a larger market size during the forecast period. A wide variety of hardware of varying prices is deployed to monitor cold chains for various applications. Cold chain monitoring solutions require a number of sensors and other hardware for effective network monitoring, and a few of these hardwares can be expensive. Suspension of transport & logistics services, along with lockdowns in major geographies, due to the COVID-19 pandemic is expected to restrict the development and distribution of new hardware components.
Market for transportation to grow at higher rate during forecast period
The transportation segment is expected to record a higher CAGR during the forecast period. The growth of the transportation segment is driven by the growing distribution network of cold chains. Nowadays, cold chains have become vital for modern supply chain solutions, transporting larger volumes of more sensitive or vital cargo over greater distances through diverse climatic conditions. Being prone to environmental variations, cargo needs to be maintained at specific temperatures or within an acceptable temperature range, which is also driving the growth of the market for the transportation segment.
Pharmaceutical and healthcare application to hold largest size during forecast period
The pharmaceutical and healthcare industry is expected to hold the largest market size during the forecast period, owing to the growing need for temperature monitoring in the pharmaceuticals and healthcare cold chain. The temperature requirement varies according to the specific pharmaceutical product. The potency of drugs or vaccines to degrade in the case of temperature variations encountered in the supply chain, is the key factor fueling the need for cold chain monitoring solutions. Moreover, the pharmaceuticals and healthcare industry is significantly impacted by government regulations, which facilitates the adoption of cold chain monitoring solutions across the value chain.
Americas is expected to capture largest market size during forecast period
The Americas region is expected to hold the largest share of the cold chain monitoring market during the forecast period. Increasing demand for chilled and frozen food products in North American countries is likely to trigger the demand for cold chain monitoring solutions in North America. Cold chain monitoring infrastructure includes refrigerated storage and refrigerated transport. In addition, escalating demand for dairy products, vegetables, and fruits, along with increasing import-export of exotic vegetables and fruits, is also boosting the demand for cold chain monitoring solutions.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Cold Chain Monitoring Market
4.2 Cold Chain Monitoring Market, by Offering
4.3 Cold Chain Monitoring Market, by Logistics
4.4 Cold Chain Monitoring Market, by Application
4.5 Cold Chain Monitoring Market, by Temperature Type
4.6 Cold Chain Monitoring Market, by Application and Region
4.7 Cold Chain Monitoring Market, by Geography
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Global Demand for Temperature-Sensitive Drugs
5.2.1.2 Rising Demand for Better Food Quality and Need to Reduce Food Wastage
5.2.1.3 Surging Demand for Generic Drugs Owing to Higher Accessibility
5.2.1.4 Growing Governmental Focus on Issuing Policies Impacting Supply Chain Efficiency of Fast-Growing Pharmaceuticals Sector in Europe and North America
5.2.2 Restraints
5.2.2.1 High Cost of Implementation
5.2.3 Opportunities
5.2.3.1 Better Control of Assets in Warehouses Using Automation and Cold Storage Technologies
5.2.3.2 Availability of Cold Chain Logistics in Developing Countries
5.2.4 Challenges
5.2.4.1 Complexities Involved in Installation and Monitoring of Cold Chain Monitoring Solutions
5.3 Impact of Covid-19 on Cold Chain Monitoring Market
6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.2.1 Research and Product Development Facilities
6.2.2 Component Manufacturers and System Integrators
6.2.3 Distributors
6.2.4 End Users
6.2.5 Post-Sales Services
6.3 Key Industry Trends
6.3.1 Digital Transformation in Cold Chain Monitoring
6.4 Technology Analysis
6.4.1 Advanced Analytics and Data Aggregation Technologies
6.4.2 IoT Technology
6.4.3 Radio Frequency Identification
6.4.4 Telematics
6.4.5 Artificial Intelligence & Machine Learning
6.5 Ecosystem
6.6 Cold Chain Monitoring: Use Cases
6.6.1 Pharmaceuticals & Healthcare
6.6.2 Food & Beverages
6.6.3 Chemicals
7 Cold Chain Monitoring Market, by Offering
7.1 Introduction
7.2 Hardware
7.2.1 Sensors and Data Loggers
7.2.1.1 Sensors and Data Loggers are Increasingly Being Used to Gather Real-Time Data Across Pharmaceuticals Industry
7.2.2 RFID Devices
7.2.2.1 High Demand for Rfid Tags in Large Warehouses is Likely to Drive Cold Chain Monitoring Market During Forecasted Period
7.2.3 Telematics and Telemetry Devices
7.2.3.1 Rising Need for Efficient Telematics Support to Track Food Products in Food & Beverages Industry Drives Demand for Telematics and Telemetry Devices
7.2.4 Networking Devices
7.2.4.1 Growth of Networking Devices in Cold Chain Monitoring Market is Attributed to Growing Internationalization of Pharmaceutical Supply Chain
7.3 Software
7.3.1 on Premises
7.3.1.1 On-Premises Deployment is Mostly Suitable for Localized Cold Chain Monitoring
7.3.2 Cloud-Based
7.3.2.1 Market for Cloud-Based Deployment Type is Expected to Grow at Higher CAGR During Forecast Period
8 Cold Chain Monitoring Market, by Temperature Type
8.1 Introduction
8.2 Frozen
8.2.1 Cold Chain Monitoring Market for Frozen Type is Expect to Continue to Hold Larger Market Share During Forecast Period
8.3 Chilled
8.3.1 Chilled Temperature Type Market is Expect to Grow at Higher CAGR During Forecast Period
9 Cold Chain Monitoring Market, by Logistics
9.1 Introduction
9.2 Storage
9.2.1 Warehouses
9.2.1.1 Warehouses are Used in Industries Such as Pharmaceuticals, Healthcare, Food & Beverages, and Chemicals
9.2.2 Cold Containers
9.2.2.1 Majority of Cold Chain Containers are Used for Storage at Production Sites
9.3 Transportation
9.3.1 Airways
9.3.1.1 Airways is Among Fastest Modes of Transportation of Cold Chain Products
9.3.2 Waterways
9.3.2.1 Waterways is Among Cheapest Modes of Transportation in Cold Chain Monitoring Market
9.3.3 Roadways
9.3.3.1 Roadways Offer Maximum Geographical Penetration in Cold Chain Monitoring Market
9.3.4 Railways
9.3.4.1 Railways are Convenient Modes for Transportation of Cold Chain Materials
10 Cold Chain Monitoring Market, by Application
10.1 Introduction
10.2 Pharmaceuticals and Healthcare
10.2.1 Vaccines
10.2.1.1 Vaccine Production and Distribution Activities Rely on Efficient Cold Chains, Which Need Effective Monitoring Solutions
10.2.2 Biobanks
10.2.2.1 Dependence on Strictly Regulated Temperature Levels in Biobanks Boosts Growth of Cold Chain Monitoring Market
10.2.3 Medicines and Drugs
10.2.3.1 Cold Chain Monitoring Devices Increase Effectiveness of Medicines and Reduce Wastage of Medicines and Drugs
10.3 Food & Beverages
10.3.1 Fruits & Vegetables
10.3.1.1 Cold Chain Monitoring Devices Help in Reducing Wastage and Improving Quality of Fruits and Vegetables
10.3.2 Meat and Seafood
10.3.2.1 Cold Chain Monitoring Helps in Increasing Durability and Preventing Any Infection During Storage and Transportation of Meat and Seafood
10.3.3 Poultry and Dairy Products
10.3.3.1 Cold Chain Monitoring Helps in Prolonging Shelf Life and Preventing Contamination of Poultry and Dairy Products
10.3.4 Processed Food
10.3.4.1 Processed Food Needs Cold Chain Monitoring to Increase Durability and Prevent Spoilage
10.4 Chemicals
10.4.1 Chemicals Sector Has Moderate Adoption of Cold Chain Monitoring Solutions, Which is Expected to Grow Significantly During Forecast Period
10.5 Others
10.5.1 Agriculture
10.5.1.1 Continuous Innovations in IoT for Agriculture Industry Boost Adoption of Cold Chain Monitoring Solutions
10.5.2 Manufacturing
10.5.2.1 Cold Chain Monitoring Devices are Used in Manufacturing Industry to Maintain Temperature and Ambient Conditions
11 Geographic Analysis
11.1 Introduction
11.2 Americas
11.3 Europe
11.4 Apac
11.5 RoW
12 Competitive Landscape
12.1 Overview
12.2 Market Evaluation Framework
12.3 Market Ranking Analysis of Top 5 Market Players
12.4 Competitive Leadership Mapping
12.4.1 Visionary Leaders
12.4.2 Dynamic Differentiators
12.4.3 Innovators
12.4.4 Emerging Companies
12.5 Strength of Product Portfolio (for 25 Players)
12.6 Business Strategy Excellence (for 25 Players)
12.7 Competitive Scenario
12.7.1 Product Launches & Product Development
12.7.2 Product Launches and Product Developments
12.7.3 Partnerships, Contracts, Agreements, Collaborations, and Expansions
12.7.4 Awards and Certifications
13 Company Profiles
13.1 Introduction
13.2 Key Players
13.2.1 Orbcomm
13.2.2 Sensitech
13.2.3 Berlinger & Co.
13.2.4 Monnit
13.2.5 Controlant
13.2.6 Elpro-Buchs
13.2.7 Securerf Corporation
13.2.8 Savi Technology
13.2.9 Zest Labs
13.2.10 Infratab
13.3 Right to Win
13.4 Other Prominent Players
13.4.1 Temperature Monitor Solutions Africa
13.4.2 Lineage Logistics Holdings
13.4.3 Klinge Corporation
13.4.4 Daikin Industries
13.5 Startup Ecosystem
13.5.1 Nimble Wireless
13.5.2 Tagbox Solutions
13.5.3 Verigo
13.5.4 Freshsurety
13.5.5 Astrona Biotechnologies
13.5.6 Safetraces
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