The Cold Chain Tracking And Monitoring Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cold Chain Tracking And Monitoring Global Market Report 2024, The cold chain tracking and monitoring market size has grown rapidly in recent years. It will grow from $6.24 billion in 2023 to $7.19 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. The growth in the historic period can be attributed to globalization of supply chains, stringent regulatory standards, rise in demand for perishable goods, focus on food safety.
The cold chain tracking and monitoring market size is expected to see rapid growth in the next few years. It will grow to $12 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. The growth in the forecast period can be attributed to e-commerce growth in food and pharmaceuticals, increased complexity in supply chains, growing pharmaceutical industry, focus on sustainability and environmental impact, pandemic-driven changes in healthcare logistics. Major trends in the forecast period include environmental sustainability, data security concerns, collaborations and partnerships, real-time visibility and analytics.
The increasing demand for food and beverages is expected to propel the growth of the cold chain tracking and monitoring market going forward. Food and beverages refer to the large group of goods and sectors of the economy involved in manufacturing, processing, supplying, and consuming food and drink. The food and beverage sector can guarantee that products reach customers in a safe, new, and high-quality state using comprehensive cold chain tracking and production processes. For instance, in April 2022, according to a report shared by Common Thread Collective, a US-based e-commerce growth agency, global food and beverage sales increased from $435.3 billion in 2021, to $506 billion in 2022. Further, worldwide food and beverage sales are expected to reach $857 billion by 2025. Therefore, the increasing demand for food and beverages is driving the cold chain tracking and monitoring market.
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The cold chain tracking and monitoring market covered in this report is segmented –
1) By System: Software, Hardware
2) By Solution: Storage, Transportation
3) By End User: Healthcare, Pharmaceuticals, Food And Beverages, Chemicals, Other End Users
Technology innovations are a key trend gaining popularity in the cold chain tracking and monitoring market. Major companies operating in the cold chain tracking and monitoring market are adopting new technologies to sustain their position in the market. For instance, in May 2023, Tridentify, a Sweden-based MedTech company, launched a real-time cold chain monitoring system. The new technology offers a thorough picture of pharmaceutical items’ stability and remaining shelf life in real-time. Tridentify has transformed the industry with the debut of this new monitoring system, allowing businesses to monitor their operations and the stability of their shipments in real-time. The new solution delivers an accurate and real-time assessment of a consignment, allowing businesses to make data-driven decisions. It is uniquely designed with state-of-the-art technology, including advanced sensors and machine-learning algorithms that help monitor systems.
The cold chain tracking and monitoring market report table of contents includes:
1. Executive Summary
2. Cold Chain Tracking And Monitoring Market Characteristics
3. Cold Chain Tracking And Monitoring Market Trends And Strategies
4. Cold Chain Tracking And Monitoring Market – Macro Economic Scenari
5. Global Cold Chain Tracking And Monitoring Market Size and Growth
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26. South America Cold Chain Tracking And Monitoring Market
27. Brazil Cold Chain Tracking And Monitoring Market
28. Middle East Cold Chain Tracking And Monitoring Market
29. Africa Cold Chain Tracking And Monitoring Market
30. Cold Chain Tracking And Monitoring Market Competitive Landscape And Company Profiles
Top Major Players:
- Carrier Global Corporation
- Emerson Electric Co
- AmeriCold Logistics LLC
- Lineage Logistics LLC
- Digi International Inc
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