Cold Chain Temperature Monitoring Market Worth $19.6 Billion by 2026, Rising at a CAGR of 20.5% from 2020
DUBLIN, Aug. 27, 2020 /PRNewswire/ -- The "Global Cold Chain Temperature Monitoring Market By Component, By End User, By Region, Industry Analysis and Forecast, 2020-2026" report has been added to ResearchAndMarkets.com's offering.
The Global Cold Chain Temperature Monitoring Market size is expected to reach $19.6 billion by 2026, rising at a market growth of 20.5% CAGR during the forecast period.
The rise in trade in perishables in developed and developing countries has led to the development of the demand for tracking the cold chain. The advent in connected device technologies such as Radio Frequency Identification (RFID) and the Internet of Things (IoT) is expected to open up opportunities for groundbreaking monitoring solutions. Data loggers are essential for monitoring the food and beverage supply chain in order to increase the efficient management of the logistics chain.
The global market for monitoring the cold chain is being driven with the awareness of high-quality food and rapid urbanization. Storage tests are useful for increasing the shelf life of the medicine. Monitoring inventories in the pharmaceutical industry and rising drug consumption are two of the key factors of the demand for tracking the cold chain. The strict regulatory environment of the pharmaceutical industry and the successful use of pharmaceuticals and the growth of nursing homes and hospitals are projected to dominate the global market. Growth in health awareness and the push to reduce food waste are projected to lead the global market for monitoring the cold chain during the outlook period.
Globally, efforts by different governments sustain the growth of the market for tracking and monitoring the cold chain. The cold chain tracking and monitoring industry is projected to increase due to its emphasis on quality and product sensitivity, growth in organized retail, growth in refrigerated warehouses, improvements in government policies and legislation, and growth in the pharmaceutical sector. The lack of standardization and high labor costs, however, limits the market monitoring of the cold chain and monitors market growth. In addition, radio frequency identification (RFID) solutions for cold chain monitoring business applications and analysis for advances in cold chain software offer lucrative prospects for key players.
Rising demand for improved product safety, growing demand for temperature-sensitive medications and growing emphasis on optimizing the productivity of the supply chain are some of the main factors driving the growth of the market for controlling the cold chain. Nonetheless, high deployment costs can restrict the growth of the market for monitoring the cold chain. The growing availability of cold chain logistics in developed countries is generating opportunities in the market for cold chain monitoring.
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Daikin Industries, Ltd., Zest Labs, Inc. (Ecoark Holdings, Inc.), Orbcomm, Inc. (Northrop Grumman Corporation), Carrier Global Corporation (Sensitech, Inc.), Berlinger & Co. AG, Monnit Corporation, Infratab, Inc., Klinge Corporation, Savi Technology, Inc., and Veridify Security, Inc.
Jan-2020: Monnit Corporation announced the launch of iMonnit Enterprise 4.0, an update to the popular IoT sensor monitoring platform built for the needs of Enterprise-level businesses. The software has an all-new user interface, an improved mobile experience and other new features.
Key Topics Covered
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Cold Chain Temperature Monitoring Market, by Component
1.4.2 Global Cold Chain Temperature Monitoring Market, by End User
1.4.3 Global Cold Chain Temperature Monitoring Market, by Geography
1.5 Methodology for the Research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Executive Summary
2.1.3 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Recent Industry Wide Strategic Developments
3.1.1 Partnerships, Collaborations and Agreements
3.1.2 Product Launches and Product Expansions
3.1.3 Mergers & Acquisitions
3.2 Top Winning Strategies
3.2.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.2.2 Key Strategic Move: (Product Launches and Product Expansions: 2017, Aug - 2020, Jun) Leading Players
Chapter 4. Global Cold Chain Temperature Monitoring Market by Component
4.1 Global Cold Chain Temperature Monitoring Hardware Market by Region
4.2 Global Cold Chain Temperature Monitoring Market by Hardware Type
4.2.1 Global Cold Chain Temperature Monitoring Conventional Temperature Loggers Market by Region
4.2.2 Global Cold Chain Temperature Monitoring Real-Time Monitoring Devices Market by Region
4.2.3 Global Cold Chain Temperature Monitoring Temperature Indicators Market by Region
4.2.4 Global Cold Chain Temperature Monitoring Resistance Temperature Detectors Market by Region
4.2.5 Global Other Hardware Type Cold Chain Temperature Monitoring Market by Region
4.3 Global Cold Chain Temperature Monitoring Software Market by Region
4.4 Global Cold Chain Temperature Monitoring Market by Software Type
4.4.1 Global On-premise Cold Chain Temperature Monitoring Market by Region
4.4.2 Global Cloud Cold Chain Temperature Monitoring Market by Region
Chapter 5. Global Cold Chain Temperature Monitoring Market by End User
5.1.1 Global Fish, Meat & Seafood Cold Chain Temperature Monitoring Market by Region
5.2 Global Processed Food Cold Chain Temperature Monitoring Market by Region
5.3 Global Pharmaceuticals Cold Chain Temperature Monitoring Market by Region
5.4 Global Bakery & Confectionaries Cold Chain Temperature Monitoring Market by Region
5.5 Global Fruits & Vegetables Cold Chain Temperature Monitoring Market by Region
5.6 Global Dairy Products Cold Chain Temperature Monitoring Market by Region
5.7 Global Others Cold Chain Temperature Monitoring Market by Region
Chapter 6. Global Cold Chain Temperature Monitoring Market by Region
6.1 North America Cold Chain Temperature Monitoring Market
6.2 Europe Cold Chain Temperature Monitoring Market
6.3 Asia-Pacific Cold Chain Temperature Monitoring Market
6.4 LAMEA Cold Chain Temperature Monitoring Market
Chapter 7. Company Profiles
7.1 Daikin Industries, Ltd.
7.2 Zest Labs, Inc. (Ecoark Holdings, Inc.)
7.3 Orbcomm, Inc. (Northrop Grumman Corporation)
7.4 Carrier Global Corporation (Sensitech, Inc.)
7.5 Berlinger & Co. AG
7.6 Monnit Corporation
7.7 Infratab, Inc.
7.8 Klinge Corporation
7.9 Savi Technology, Inc.
7.10 Veridify Security, Inc.
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