Global Cold Chain Tracking And Monitoring Market Strategies 2024, Forecast To 2033
8 Mar, 2024
The cold chain tracking and monitoring market has witnessed significant growth, with its size expanding from $6.24 billion in 2023 to $7.19 billion in 2024, representing a compound annual growth rate (CAGR) of 15.1%. This growth is attributed to factors such as globalization of supply chains, stringent regulatory standards, increased demand for perishable goods, and a focus on food safety. Looking ahead, the market is poised for rapid expansion, projected to reach $12 billion in 2028, with a CAGR of 13.7%. This growth is fueled by the rise of e-commerce in food and pharmaceuticals, complexities in supply chains, expansion of the pharmaceutical industry, and heightened focus on sustainability and environmental impact. Major trends in the forecast period include environmental sustainability, data security concerns, collaborations, real-time visibility, and analytics.
Global Cold Chain Tracking And Monitoring Market Key Driver
The cold chain tracking and monitoring market is set for substantial growth driven by the increasing demand for food and beverages. This sector encompasses various activities involved in the production, processing, and distribution of food and beverages. Cold chain tracking and monitoring ensure the safe and high-quality delivery of products to consumers. Reports from Common Thread Collective indicate a significant surge in global food and beverage sales, signaling a robust market potential for cold chain tracking and monitoring.
Get A Free Sample Of The Global Cold Chain Tracking And Monitoring Market ReportGlobal Cold Chain Tracking And Monitoring Market Segments
The cold chain tracking and monitoring market covered in this report is segmented –
1) System:Software, Hardware
2) Solution:Storage, Transportation
3) End User:Healthcare, Pharmaceuticals, Food And Beverages, Chemicals, Other End Users
By Geography: The countries covered in the cold chain tracking and monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the cold chain tracking and monitoring market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cold chain tracking and monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Cold Chain Tracking And Monitoring Industry Players
Carrier Global Corporation; Emerson Electric Co.; AmeriCold Logistics LLC; Lineage Logistics LLC; Digi International Inc.; ORBCOMM Inc.; Cryoport Inc.; Controlant AGM; Sensitech Inc.; SpotSee Holdings LLC; ELPRO-BUCHS AG; Berlinger & Co AG; Hanwell Solutions Ltd.; Tippmann Group; Cryopak Industries Inc.; Savi Technology Inc.; Rotronic AG; Maven Systems Pvt. Ltd.; Klinge Corporation; Monnit Corporation; LogTag Recorders Ltd.; Testo SE & Co. KGaA; Verigo; SecureRF Corporation; BT9 Ltd.; Zest Labs Inc.; Blulog; Gemini Data Loggers UK Ltd.; Intelleflex Corporation; Infratab Inc.
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Cold Chain Tracking And Monitoring Market Overview
Cold chain tracking and monitoring refers to keeping an eye on and managing the cold chain, or supply chain, which is temperature controlled. They aid in maintaining product quality, cutting waste, adhering to regulations, and guaranteeing that final customer obtains safe and efficient products.