For the purpose of analysis, the cold chain tracking and monitoring market is segmented on the basis of system, solution, end-user, and region. On the basis of system, the market is categorized into hardware & software. By solution, the market is categorized into storage & transportation. By end user industry, the market is classified into healthcare, food & beverage, chemical, and others. It analyzes the current market trends of the market across different regions such as North America, Europe, Asia-Pacific, and LAMEA and suggests future growth opportunities.
- The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the critical areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain the intense competition in the industry.
The key players operating in the global cold chain tracking and monitoring market are Americold Logistics, LLC, Berlinger & Co. AG, Controlant, ELPRO-BUCHS AG, Hanwell Solutions, Infratab, Inc., Monnit Corporation, ORBCOMM, Savi Technology, and Sensitech Inc.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents analytical depiction of the global cold chain tracking and monitoring market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2021 to 2030 to highlight the financial competency of the market.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
Key Market Segments
By End User
- Others
- Healthcare
- Food Beverage
- Chemical
By System
- Hardware
- Software
By Solution
- Storage
- Transportation
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Rest of Europe
- Germany
- France
- U.K.
- Italy
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- americold logistics, llc.
- berlinger & co. ag
- controlant
- Hanwell Solutions
- ELPRO-BUCHS AG
- Infratab
- Monnit Corporation
- ORBCOMM, Inc.
- Savi Technology
- Sensitech Inc
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Table of Contents
Executive Summary
According to this report titled, 'Cold Chain Tracking and Monitoring Market,' the cold chain tracking and monitoring market was valued at $4.6 billion in 2020, and is estimated to reach $15.2 billion by 2030, growing at a CAGR of 12.9% from 2021 to 2030.Cold chain tracking and monitoring refer to the process of maintaining a given temperature range of products and tracking perishable products with the help of a series of control devices and sensors. It is primarily used to maintain & extend the life of products such as fresh agricultural produce, seafood, frozen food, photographic film, chemicals, and pharmaceutical products. Monitoring, storage, and transportation are the crucial factors in the cold chain to avoid degradation in the quality of the shipments. At present, the tracking & monitoring of logistics is handled by sensors, microcontrollers, and even IoT capabilities to ensure safe handling of cold assets across the supply chain.
In addition, the cold chain tracking and monitoring market has witnessed significant growth in recent years, owing to massive impact of the COVID-19 pandemic, which resulted in the transformation of buying behavior of consumers & emerged as an essential component for the transportation of vaccines and pharmaceutical products witnessing unwavering demand worldwide. The companies that operate in the market have adopted partnerships, product launches, R&D, and acquisitions to increase their market share and expanded their geographical presence. For instance, in 2019, Controlant launched its PR-T80 Digital Temperature Probe - an innovative real-time solution designed for dry ice applications, active pharmaceutical ingredients (APIs), clinical trials, and additional pharmaceutical & life sciences products that provide transport storage in low temperature-controlled environments. Furthermore, the rise in adoption of wireless communication modules such as Bluetooth, Wi-Fi, or other more specialized IoT protocols offers the capabilities needed for asset tracking data loggers to have the most comprehensive picture possible of the environments experienced by the asset. In 2021, ELPRO-BUCHS AG launched its intelligent data loggers, Bluetooth® and LIBERO Gx real-time data loggers, powered by Sensirion Technology, which offers reliable monitoring of sensitive goods and simplifies complicated, time-consuming processes in cold chain logistics.
The cold chain tracking and monitoring market is segmented on the basis of system, solution, end user, and region. On the basis of system, the market is divided into hardware and software. By solution, it is classified into storage and transportation. By end-user, it is divided into healthcare, food & beverage, chemical, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Factors such as an increased focus on quality & product sensitivity, surge in refrigerated warehouses, and growth in pharmaceutical sectors are expected to drive the growth of the cold chain tracking and monitoring market. In addition, change in government policies & regulations and growth in the organized retail sector are anticipated to boost the market's growth. However, factors such as lack of standardization and high operational cost restrain the market growth. Furthermore, the adoption of RFID technologies for cold chain applications and research for advancement in cold chain software provide lucrative growth opportunities for the market players.
Key findings of the Study
- By system, the software segment is expected to register a significant growth during the forecast period.
- Depending on end use, the healthcare segment is anticipated to exhibit significant growth in the near future.
- Europe is anticipated to register the highest CAGR.
COVID-19 Impact Analysis
- The COVID-19 crisis is creating uncertainty in the cold chain tracking and monitoring industry by slowing down the logistics services, closure of workplaces, and restrictions on travel hampering business growth with the increasing panic among the customer segments.
- Governments across different regions announced total lockdown and temporary shutdown of industries, leading to border closures that restricted the movement of transportation & logistics services.
- The global business outlook has changed dramatically post COVID-19 health crisis.
For the requirement of pharmaceutical products by the countries during the peak point of pandemic, most of the governments got collaborated with UNICEF to establish effective cold chain systems for vaccines storage.
The key players operating in the global cold chain tracking and monitoring market are Americold Logistics, LLC, Berlinger& Co. AG, Controlant, ELPRO-BUCHS AG, Hanwell Solutions, Infratab, Inc., Monnit Corporation, ORBCOMM, Savi Technology, and Sensitech Inc.
Companies Mentioned
- americold logistics, llc.
- berlinger & co. ag
- controlant
- Hanwell Solutions
- ELPRO-BUCHS AG
- Infratab
- Monnit Corporation
- ORBCOMM, Inc.
- Savi Technology
- Sensitech Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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