The Cold Chain Tracking and Monitoring Market - 4th Edition

Perishable foods, vaccines, pharmaceuticals, chemicals and electronics are typically sensitive to exposure to temperature variations as well as shock, tilt, vibrations and light. These types of goods require a steady and controlled temperature environment throughout the entire supply chain. Cold chain is the most commonly used name to describe such supply chains. Refrigerated trailers, intermodal containers, air freight ULDs, rail freight wagons and other logistics units such as insulated cargo boxes and pallet shippers are used to maintain a steady cargo temperature during transportation. The global fleet of refrigerated trailers and intermodal containers amounts to about 5.0 million units combined.

The number of temperature-controlled ULDs and rail freight wagons in use globally are in the tens of thousands. Cold chain tracking and monitoring solutions that enable real-time data on cargo location and condition provide significant value for cargo owners and logistics service providers. About one third of all food produced for human consumption globally is wasted. It is estimated that up to 15 percent of the wastage occurs post-harvest and before reaching the retail store, i.e. mainly during transport. Temperature excursions during transport that are not managed properly is a common reason for spoilage. If there is no data available on temperature levels during transport, supply chain managers will not be able to prevent spoilage.

The market value for cold chain tracking to reach € 1.8 billion in 2028

The definition of a real-time cold chain tracking solution is a system that incorporates data logging, satellite positioning and data communications to a backoffice application. The tracking device can be designed to track the cargo carrying unit (i.e. trailer, intermodal container, air freight ULD, rail freight wagon etc.) or the cargo itself. Cargo carrying unit tracking devices are permanently or temporarily installed on the container unit while cargo tracking devices are typically placed with the cargo or attached to the cargo box or pallet during transport. A range of device form factors and technologies are available on the market serving different needs.

The analyst estimates that shipments of remote tracking systems with cellular or satellite communications capabilities for refrigerated cargo carrying units reached 765,000 units worldwide in 2023. Growing at a compound annual growth rate (CAGR) of 8.7 percent, shipments are expected to reach close to 1.2 million units in 2028. During the same period, the installed base of active remote tracking systems for refrigerated cargo carrying units is forecasted to grow at a CAGR of 10.8 percent from 2.7 million units at the end of 2023 to 4.5 million units by 2028. The number of active tracking devices and real-time data loggers in use for general cargo applications, including insulated cargo boxes and pallet shippers, reached close to 2.2 million units at the end of 2023. The market segment is set for rapid growth in the coming years as prices are expected to decrease and smart labels and other devices with a very small footprint are being introduced. The number active devices in use are forecasted to reach 6.9 million units at the end of 2028. Yearly device shipments in this category will grow from 7.6 million units in 2023 to reach 27.4 million units in 2028.

The segment includes both multi-use trackers and single-use disposable trackers. The cold chain tracking and monitoring market is served by a wide range of players. ORBCOMM has a large installed base of connected vehicles and assets. The company is the number one player in the refrigerated trailer and container tracking segment with over 0.5 million units installed. Maersk has rolled out a system for real-time tracking of its entire fleet of around 380,000 refrigerated containers, making it the largest refrigerated container tracking project worldwide. The container tracking specialist Globe Tracker is the third largest provider of tracking solutions for refrigerated containers. The company has equipped the major shipping company HapagLloyd’s entire reefer container fleet with tracking units. Additional leading players in the refrigerated intermodal container tracking segment include Envotech, Cooltrax and Copeland (formerly Emerson Climate Technologies).

Leading refrigerated trailer tracking players moreover include Spireon, Schmitz Cargobull, CalAmp, EROAD, Krone, Samsara, Motive and Idem Telematics. Intermodal Telematics and SAVVY Telematics Systems are leading vendors of temperature-controlled tank container tracking solutions. DeltaTrak, Sensitech (part of Carrier), Controlant, Tive, Frigga (part of Dewav Electronic Technology) and Copeland (formerly Emerson Climate Technologies) are leading players in the refrigerated cargo tracking segment, each with hundreds of thousands of deployed real-time tracking devices. These companies’ solutions are based on trackers that are placed together with the cargo during transport and can be used for various modes of transportation including air shipments. Additional players in the segment include OnAsset Intelligence, Roambee, Adapt Ideations, Tempmate, Hive-Zox, Onset, Escavox, 7PSolutions, Intelyt and Qualcomm. Sensos and Trackonomy are also part of this segment, offering smart label solutions.

There are furthermore several cold chain logistics service providers that offer cargo location and condition tracking as a service for their customers, including DB Schenker, FedEx and UPS.  The logistics industry is currently undergoing a major transformation. A number of events that have been disruptive for global supply chains have occurred during the past few years (e.g. the COVID-19 pandemic, the Ever Given Suez Canal blockage, the Red Sea crisis and the Panama Canal drought). These events highlight the need for greater visibility into the supply chain. The industry is now investing heavily in digital solutions to increase the security and resilience of the supply chains.

Goods transported in the cold chain are in many cases of higher value and more sensitive to unplanned stops and temperature deviations. Having access to real-time data on the location and condition of the cargo helps managers to save the cargo load if an unexpected event occurs. It also provides vital information and data on shipments which can be used to optimise the supply chain. Tracking solution providers can today support a wide range of applications and scenarios for refrigerated cargo and cargo containers. The solution providers are bolstered by the rapid development of satellite and cellular IoT network technologies, which enables the creation of even better solutions.

Highlights from the report

• Insights from 30 executive interviews with market leading companies.
• Comprehensive overview of the refrigerated cargo tracking value chain and key applications.
• In-depth analysis of market trends and key developments.
• Summary of major refrigerated cargo tracking initiatives worldwide.
• Updated profiles of 79 cold chain tracking solution providers.
• Detailed forecasts by market segment lasting until 2028.
• The latest trends on cold chain logistics and the tracking of cargo and cargo carrying units including trailers, intermodal containers, ULDs and rail wagons.

This report answers the following questions

• Which are the leading providers of cold chain tracking solutions?
• What offerings are available from device vendors and service providers?
• Which modes of refrigerated transport have the highest penetration rates?
• What are the key drivers behind the adoption of refrigerated cargo tracking solutions?
• What are the latest trends on the cold chain tracking market?
• What impact will regulations and legislations have on the market?
• What impact will technology advancements have on the market?
• How will the cold chain tracking industry evolve in the future?