The Worldwide Cold Chain Monitoring Industry is Expected to Reach $10.2 Billion in 2026

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Jan 07, 2022, 10:45 ET

DUBLIN, Jan. 7, 2022 /PRNewswire/ -- The "Global Cold Chain Monitoring Market with COVID-19 Impact by Offering (Hardware and Software), Logistics (Storage and Transportation), Application (Pharmaceuticals & Healthcare, Chemicals), Temperature, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The Cold chain monitoring market is expected to grow at a CAGR of 16.6% from USD 4.7 billion in 2021 to USD 10.2 billion in 2026. Increasing demand for Cold chain monitoring products in the pharmaceuticals & healthcare industry will drive the market.

Cold chain monitoring market for transport is expected to grow at the highest CAGR during the forecast period

Transportation is the most important phase in the cold chain due to the possibility of unforeseen environmental variations. Cold chain transportation is a temperature-controlled supply chain used in industries such as pharmaceuticals, healthcare, food & beverages, and chemicals.

The efficient management of cold chain transportation is essential for maintaining the integrity of the products being transported, for instance, the cold chain transportation of pharmaceuticals, many of which must be maintained at a specific temperature. Medical and high-end products have a lower tolerance for temperature excursions, and product spoilage leads to a significant loss of capital. To minimize the chances of temperature irregularities in transit, transporters use simple measures such as dedicated vehicles, phase-change gel bricks to identify excursions, doubling up on packaging, and active cooling to secure their shipments.

Cold chain monitoring market for hardware segment accounted for the largest share in 2020

Hardware such as sensors, data loggers, RFID devices, and telematics and telemetry devices, and networking devices are used in applications ranging from the sensing of the environment to the relaying of data to a centralized database for further evaluation. For most cold chain applications, accuracy and reliability of hardware are critical parameters.

Data loggers are used throughout the cold chain to monitor the temperature of food, pharmaceuticals, chemicals, and other temperature-sensitive products. Sensors and data loggers are important components of the sensory network of a cold chain. Various types of sensors, such as temperature sensors, humidity sensors, chemical indicators, and impact and tilt sensors, are used in this network. Temperature sensors sense the temperature at a specific location within a cold room, freezer room, refrigerator, or freezer unit.

These are generally environmental sensors that measure environmental parameters such as temperature and humidity with more importance given to temperature information. The data from sensors would normally be periodically stored on separate storage elements called data loggers, which could make the necessary data available in readable formats such as PDF files and e-mail. Sensors and data loggers are now being integrated into a single package to form a more compact product.

Americas is expected to hold the largest market for Cold chain monitoring during the forecast period

North America is the largest market for cold chain monitoring in the Americas at present and is likely to exhibit a similar trend 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 the region. Cold chain monitoring infrastructure includes refrigerated storage and refrigerated transport.

The escalating demand for dairy products, vegetables, and fruits is increasing the imports, as well as exports of exotic vegetables and fruits and dairy products, which is also boosting the demand for cold chain monitoring solutions. According to the United Nations COMTRADE database, in 2012, North America was one of the largest exporters and importers of perishable food, including meat, fish, and seafood, across the world. It was also the largest importer of fruits and vegetables.

The pharmaceutical and healthcare industries also have noteworthy contributions toward the cold chain monitoring market growth in the region. The pharmaceutical industry is subject to stringent regulations aimed at ensuring safety and good storage and distribution practices. Stringent government regulations toward food safety and Global Cold Chain Alliance (GCCA) initiatives help shape the environment in this region, which indirectly impacts the cold chain monitoring market.

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 Government 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
5.2.2.2 Environmental Concerns Regarding Greenhouse Gas Emissions
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
6.2.2 Component Manufacturing and System Integration
6.2.3 Distributors
6.2.4 End-User Industries
6.2.5 Post-Sales Services
6.3 Porter's Five Forces Analysis
6.3.1 Intensity of Competitive Rivalry
6.3.2 Bargaining Power of Suppliers
6.3.3 Bargaining Power of Buyers
6.3.4 Threat of Substitutes
6.3.5 Threat of New Entrants
6.4 Trade Analysis
6.4.1 Exports Scenario
6.4.2 Imports Scenario
6.5 Key Industry Trends
6.5.1 Digital Transformation in Cold Chain Monitoring
6.6 Technology Analysis
6.6.1 Advanced Analytics and Data Aggregation Technologies
6.6.2 Iot
6.6.3 Radio Frequency Identification
6.6.4 Telematics
6.6.5 Artificial Intelligence and Machine Learning
6.7 Ecosystem
6.8 Patents Analysis
6.9 Use Cases
6.9.1 Pharmaceuticals & Healthcare
6.9.2 Food & Beverages
6.9.3 Chemicals
6.10 Regulations Pertaining to Cold Chain Monitoring Market
6.10.1 Positive Impact of Regulations on Cold Chain Monitoring Market
6.10.2 Negative Impact of Regulations on Cold Chain Monitoring Market
6.10.3 Regulations and Standards
6.10.3.1 Regulations and Standards by World Health Organization
6.10.3.2 Regulations and Standards in Various European Countries
6.11 Average Selling Price Trends
6.12 Trends and Disruptions Impacting Customers

7. Cold Chain Monitoring Market, by Temperature Type
7.1 Introduction
7.2 Frozen
7.2.1 Frozen Segment to Continue to Hold Larger Share of Cold Chain Monitoring Market During Forecast Period
7.3 Chilled
7.3.1 Chilled Segment to Grow at Higher CAGR During Forecast Period

8. Cold Chain Monitoring Market, by Offering
8.1 Introduction
8.2 Hardware
8.2.1 Sensors and Data Loggers
8.2.1.1 Sensors and Data Loggers are Increasingly Being Used to Gather Real-Time Data Across Pharmaceuticals Industry
8.2.2 Rfid Devices
8.2.2.1 High Demand for Rfid Tags in Large Warehouses is Likely to Drive Cold Chain Monitoring Market During Forecast Period
8.2.3 Telematics & Telemetry Devices
8.2.3.1 Rising Need for Efficient Telematics Support to Track Food Products in Food & Beverages Industry Drives Demand for Telematics & Telemetry Devices
8.2.4 Networking Devices
8.2.4.1 Growth of Networking Devices in Cold Chain Monitoring Market is Attributed to Growing Internationalization of Pharmaceuticals Supply Chain
8.3 Software
8.3.1 On-Premises
8.3.1.1 On-Premises Deployment is Suitable for Localized Cold Chain Monitoring
8.3.2 Cloud-Based
8.3.2.1 Market for Cloud-Based Deployment Type is Expected 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 Use of Warehouses is Expected to Rise During Forecast Period
9.2.2 Cold Containers
9.2.2.1 Majority of Cold Chain Containers are Used for Storage at Production Sites
9.2.3 Blast Freezers
9.2.3.1 Majority of Blast Freezers are Used for Storing Prepared Food Items
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 Cheapest Mode 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 for Transportation of Cold Chain Materials

10. Cold Chain Monitoring Market, by Application
10.1 Introduction
10.2 Pharmaceuticals & 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 Requirement of Strictly Regulated Temperature Levels in Biobanks Boosts Growth of Cold Chain Monitoring Market
10.2.3 Medicines & Drugs
10.2.3.1 Cold Chain Monitoring Devices Help 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 & 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 & 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 Foods
10.3.4.1 Processed Foods Need Cold Chain Monitoring to Increase Durability and Prevent Spoilage
10.4 Chemicals
10.4.1 Adoption of Cold Chain Monitoring Solutions in Chemicals Segment 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

12. Competitive Landscape
12.1 Overview
12.2 Key Player Strategies/Right to Win
12.2.1 Product Portfolio
12.2.2 Regional Focus
12.2.3 Manufacturing Footprint
12.3 Market Share Analysis, 2020
12.4 Market Ranking Analysis of Top 5 Market Players
12.5 5-Year Company Revenue Analysis
12.6 Competitive Leadership Mapping
12.6.1 Star
12.6.2 Emerging Leaders
12.6.3 Pervasive
12.6.4 Participant
12.7 Start-Up/Sme Evaluation Quadrant
12.7.1 Progressive Companies
12.7.2 Responsive Companies
12.7.3 Dynamic Companies
12.7.4 Starting Blocks
12.8 Company Product Footprint
12.9 Competitive Scenario
12.9.1 Product Launch & Product Development
12.9.2 Product Launches and Product Development
12.9.3 Deals

13. Company Profiles
13.1 Key Players
13.1.1 Orbcomm
13.1.2 Sensitech Inc.
13.1.3 Berlinger & Co.
13.1.4 Monnit
13.1.5 Controlant
13.1.6 Elpro-Buchs
13.1.7 Savi Technology
13.1.8 Infratab
13.1.9 Veridify Security
13.1.10 Zest Labs
13.2 Other Important Players
13.2.1 Temperature Monitor Solutions Africa
13.2.2 Lineage Logistics
13.2.3 Daikin Industries
13.2.4 Cryoport Systems
13.2.5 Klinge Corporation
13.2.6 Nimble Wireless
13.2.7 Verigo
13.2.8 Astrona Biotechnologies
13.2.9 Telesense Inc
13.2.10 Tempsen
13.2.11 Tagbox Solutions
13.2.12 Freshsurety
13.2.13 Safetraces
13.2.14 Timestrip

14. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/fcypmy

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