The global cold chain tracking and monitoring market size reached US$ 5.04 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.9 Billion by 2027, exhibiting a growth rate (CAGR) of 11.50% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Cold chain tracking and monitoring represents a sophisticated, uninterrupted supply system that employs the Internet of Things (IoT) technology for supervising temperature-sensitive perishable products, including vaccines, chemicals, and pharmaceutical items. It aids in maintaining the quality of the item throughout the production, storage, and transportation processes by performing real-time tracking operations and acquiring essential data regarding the product. Apart from this, cold chain tracking and monitoring assists in extending the shelf life of fresh and frozen food products as they meet their constant requirement of refrigeration while offering a quality management system. At present, they are commercially categorized into varying systems and solutions.
Cold Chain Tracking and Monitoring Market Trends:
One of the key factors driving the cold chain tracking and monitoring market growth is the increasing demand for the solution across the pharmaceutical and healthcare industries. In line with this, they are widely used for trading perishable medical supplies, such as biological specimens, tissues, vaccines and oncology drugs, thus propelling the market growth. This is further supported by the coronavirus disease (COVID-19) pandemic, which, in turn, has intensified the adoption of cold chain tracking and monitoring across the globe for maintaining the chemical stability and efficacy of the vaccines. Additionally, the rising industrial need for remotely operated automated logistic storage facilities to maintain the quality standards of various products is positively impacting the market growth. In line with this, the integration of radio-frequency identification (RFID) and the Internet of Things (IoT) sensors into the transportation pallets for tracking assets, managing inventory, and enhancing data accuracy are contributing to the market growth. Other factors, such as the escalating usage of e-commerce platforms to order consumer goods, rapid establishment of refrigerated warehouses, and the rising requirement amongst manufacturers to achieve an end-to-end visibility and condition monitoring throughout the supply chain operation, are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cold chain tracking and monitoring market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on system, solution and end user.
Breakup by System:
Breakup by Solution:
Breakup by End User:
Food and Beverage
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being AmeriCold Logistics LLC, Berlinger & Co. AG, Carrier Global Corporation, Cold Chain Technologies, Controlant, Ellab Monitoring Solutions Ltd., ELPRO-BUCHS AG, Monnit Corporation, Orbcomm, Rotronic AG (Process Sensing Technologies Limited), Savi Technology and Zest Labs Inc.
Key questions answered in this report:
How has the global cold chain tracking and monitoring market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global cold chain tracking and monitoring market?
What are the key regional markets?
What is the breakup of the market based on the system?
What is the breakup of the market based on the solution?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global cold chain tracking and monitoring market and who are the key players?
What is the degree of competition in the industry?