The analysts forecast the global IT spending in cold chain logistics market to grow at a CAGR of 8.36% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: Advent of cloud computing is a key trend for market growth. Cloud computing solutions enable organizations to reduce their supply chain cost and increase business agility. The shift from on-premise software solutions to cloud-based is increasing among organizations.
Such solutions not only reduce the total cost of ownership (TCO) over a certain period of time but also improve logistics performance. The majority of vendors are offering cloud-based SCM software solutions that comprise cold chain management solutions. Some of the vendors have now started offering cloud computing solutions specific to cold storage operations.
According to the report, enhanced visibility and control in the supply chain systems will be a key driver for market growth. Cold chain storage systems are important components of supply chain and logistics systems. The cold chain solutions are strategically designed to increase operational performance and to minimize supply chain risks. These risks include counterfeiting, damaged products, and the expiry of perishable goods.
Organizations that are using cold chain services need to increase visibility in the supply chain management systems, to minimize supply chain risks. The IT solutions provide greater control and visibility in the cold chain management systems, and so investments in technology are rising. Cold chain solutions that are sensor enabled and connected to centralized monitoring systems send alert messages if any changes in temperature inside the cold chain are detected. In response, cold chain managers can quickly reconfigure the required temperature range and preserve the merchandise.
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- Tech Mahindra
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by technology spending
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: About the Author
For more information about this report visit http://www.researchandmarkets.com/research/wq7jlv/global_it
Related Topics: Computing, Logistics, Industrial Refrigeration
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SOURCE Research and Markets