Cold chain monitoring is defined as the process of effectively planning, implementing, and controlling the flow and storage of perishable goods from the point of origin to the point of production, distribution, and consumption for temperature-controlled supply chain monitoring, or cold chain monitoring. This type of supply chain system is widely used by the chemical, food, and pharmaceutical industries to monitor the transportation of the products, with the help of various hardware and software devices such as RFID devices, sensors, networking devices, and telemetry & telematics.
The growing need for refrigeration in the pharmaceutical industry and the growing demand for fresh food and the need to reduce food wastage are factors expected to drive then growth of the global cold chain monitoring market during forecast period. However, maintaining temperature integrity throughout the supply chain is a limitation faced by the global cold chain monitoring market.
The market has been divided into various segments based on component, application, logistics, and region. On the basis of component, the market is segmented into software, hardware, and services. Hardware is further segmented into RFID devices, sensors, telemetry & telematics devices, and networking equipment. The services are further divided into professional services and managed services. By application, the market is segmented into pharmaceutical & healthcare, food & beverages, chemicals, and others. By logistics, the market is segmented into warehousing and transportation. By region, the market is segmented into North America, Asia-Pacific, Europe, and the rest of the world.
Based on the component, the segment hardware is led the market by generating the highest revenue of USD 1902.4 million in 2017 and is expected to register a 8.3% CAGR in the forecast period. In the application segment, food & beverages generated the highest revenue of USD 1303.1 million in 2017 and is expected to exhibit a CAGR of 11.1% during forecast period. Based on the logistics, the warehouse segment generated the highest revenue of USD 2330 million in 2017 and is expected to register an 8.6% CAGR in the forecast period.
The global cold chain monitoring market is expected to reach approximately USD 7158.8 million by 2023, registering a CAGR of 9.6% between 2017 and 2023.
The key players of cold chain monitoring market are NXP Semiconductors N.V (Netherlands), NEC Corporation (Japan), ORBCOMM Inc. (US), Sensitech, Inc. (US), Berlinger & Co AG (Switzerland), Controlant (Iceland), Infratab Inc. (US), Monnit Corporation (US), Zest Labs Inc. (Ecoark Holdings) (US), and Elpro-Buchs A G (Switzerland).
Global Cold Chain Monitoring Market Analysis & Forecast, from 2017 to 2023
• To provide a detailed analysis of the market structure along with a forecast of the various segments and sub-segments of the global cold chain monitoring market
• To provide insights about factors affecting the market growth
• To analyze the global cold chain monitoring market based on Porter’s five force analysis
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries—North America, Europe, Asia-Pacific, and the rest of the world
• To provide country-level analysis of the market with respect to the current market size and future perspective
• To provide country-level analysis of the market for segment on the basis of component, application, logistics, and region
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the cold chain monitoring market
• Cold chain warehouses
• Sensor manufacturers
• Logistic companies
• Pharmaceutical Companies
• Dairy product manufacturers
• Large food retailers
• Logistics Providers
• Key Findings
• The global cold chain monitoring market is expected to reach USD 7158.8 million by 2023
• Based on the component, the segment hardware generated the highest revenue of USD 1902.4 million in 2017 and is expected to lead the market at an 8.3% CAGR in the forecast period.
• Based on the application, the food & beverages segment generated the highest revenue of USD 1303.1 million in 2017 and is expected to lead the market registering an 11.1% CAGR during forecast period.
• Based on the logistics, the segment warehouse generated the highest revenue of USD 2330 million in 2017 and is expected to lead the market, exhibiting a CAGR of 8.6% CAGR in the forecast period.
• Geographically, North America has been projected to hold the largest market share in the global cold chain monitoring market, followed by Europe.
Regional and Country Analysis of Cold Chain Monitoring Market Estimation and Forecast
Global cold chain monitoring market, by region, is led by North America with the CAGR of 10.5% during forecast period. It is followed by Europe has occupies the second position in the global cold chain monitoring with the CAGR of 8.9%. Asia-Pacific is the fastest growing market with 11.3% CAGR. However, the rest of the world is growing at slow rate with the CAGR of 5.2% during forecast period.
The report also offers a brief country-level analysis for the various regional markets.
• North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
• Rest of the world