DUBLIN, Jan. 7, 2022 /PRNewswire/ -- The "Global Cold Chain Monitoring Market with COVID-19 Impact by Offering (Hardware and Software), Logistics (Storage and Transportation), Application (Pharmaceuticals & Healthcare, Chemicals), Temperature, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The Cold chain monitoring market is expected to grow at a CAGR of 16.6% from USD 4.7 billion in 2021 to USD 10.2 billion in 2026. Increasing demand for Cold chain monitoring products in the pharmaceuticals & healthcare industry will drive the market.
Cold chain monitoring market for transport is expected to grow at the highest CAGR during the forecast period
Transportation is the most important phase in the cold chain due to the possibility of unforeseen environmental variations. Cold chain transportation is a temperature-controlled supply chain used in industries such as pharmaceuticals, healthcare, food & beverages, and chemicals.
The efficient management of cold chain transportation is essential for maintaining the integrity of the products being transported, for instance, the cold chain transportation of pharmaceuticals, many of which must be maintained at a specific temperature. Medical and high-end products have a lower tolerance for temperature excursions, and product spoilage leads to a significant loss of capital. To minimize the chances of temperature irregularities in transit, transporters use simple measures such as dedicated vehicles, phase-change gel bricks to identify excursions, doubling up on packaging, and active cooling to secure their shipments.
Cold chain monitoring market for hardware segment accounted for the largest share in 2020
Hardware such as sensors, data loggers, RFID devices, and telematics and telemetry devices, and networking devices are used in applications ranging from the sensing of the environment to the relaying of data to a centralized database for further evaluation. For most cold chain applications, accuracy and reliability of hardware are critical parameters.
Data loggers are used throughout the cold chain to monitor the temperature of food, pharmaceuticals, chemicals, and other temperature-sensitive products. Sensors and data loggers are important components of the sensory network of a cold chain. Various types of sensors, such as temperature sensors, humidity sensors, chemical indicators, and impact and tilt sensors, are used in this network. Temperature sensors sense the temperature at a specific location within a cold room, freezer room, refrigerator, or freezer unit.
These are generally environmental sensors that measure environmental parameters such as temperature and humidity with more importance given to temperature information. The data from sensors would normally be periodically stored on separate storage elements called data loggers, which could make the necessary data available in readable formats such as PDF files and e-mail. Sensors and data loggers are now being integrated into a single package to form a more compact product.
Americas is expected to hold the largest market for Cold chain monitoring during the forecast period
North America is the largest market for cold chain monitoring in the Americas at present and is likely to exhibit a similar trend during the forecast period. Increasing demand for chilled and frozen food products in North American countries is likely to trigger the demand for cold chain monitoring solutions in the region. Cold chain monitoring infrastructure includes refrigerated storage and refrigerated transport.
The escalating demand for dairy products, vegetables, and fruits is increasing the imports, as well as exports of exotic vegetables and fruits and dairy products, which is also boosting the demand for cold chain monitoring solutions. According to the United Nations COMTRADE database, in 2012, North America was one of the largest exporters and importers of perishable food, including meat, fish, and seafood, across the world. It was also the largest importer of fruits and vegetables.
The pharmaceutical and healthcare industries also have noteworthy contributions toward the cold chain monitoring market growth in the region. The pharmaceutical industry is subject to stringent regulations aimed at ensuring safety and good storage and distribution practices. Stringent government regulations toward food safety and Global Cold Chain Alliance (GCCA) initiatives help shape the environment in this region, which indirectly impacts the cold chain monitoring market.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Premium Insights4.1 Attractive Opportunities in Cold Chain Monitoring Market4.2 Cold Chain Monitoring Market, by Offering4.3 Cold Chain Monitoring Market, by Logistics4.4 Cold Chain Monitoring Market, by Application4.5 Cold Chain Monitoring Market, by Temperature Type4.6 Cold Chain Monitoring Market, by Application and Region4.7 Cold Chain Monitoring Market, by Geography
5. Market Overview5.1 Introduction5.2 Market Dynamics5.2.1 Drivers184.108.40.206 Increasing Global Demand for Temperature-Sensitive Drugs220.127.116.11 Rising Demand for Better Food Quality and Need to Reduce Food Wastage18.104.22.168 Surging Demand for Generic Drugs Owing to Higher Accessibility22.214.171.124 Growing Government Focus on Issuing Policies Impacting Supply Chain Efficiency of Fast-Growing Pharmaceuticals Sector in Europe and North America5.2.2 Restraints126.96.36.199 High Cost of Implementation188.8.131.52 Environmental Concerns Regarding Greenhouse Gas Emissions5.2.3 Opportunities184.108.40.206 Better Control of Assets in Warehouses Using Automation and Cold Storage Technologies220.127.116.11 Availability of Cold Chain Logistics in Developing Countries5.2.4 Challenges18.104.22.168 Complexities Involved in Installation and Monitoring of Cold Chain Monitoring Solutions5.3 Impact of COVID-19 on Cold Chain Monitoring Market
6. Industry Trends6.1 Introduction6.2 Value Chain Analysis6.2.1 Research and Product Development6.2.2 Component Manufacturing and System Integration6.2.3 Distributors6.2.4 End-User Industries6.2.5 Post-Sales Services6.3 Porter's Five Forces Analysis6.3.1 Intensity of Competitive Rivalry6.3.2 Bargaining Power of Suppliers6.3.3 Bargaining Power of Buyers6.3.4 Threat of Substitutes6.3.5 Threat of New Entrants6.4 Trade Analysis6.4.1 Exports Scenario6.4.2 Imports Scenario6.5 Key Industry Trends6.5.1 Digital Transformation in Cold Chain Monitoring6.6 Technology Analysis6.6.1 Advanced Analytics and Data Aggregation Technologies6.6.2 Iot6.6.3 Radio Frequency Identification6.6.4 Telematics6.6.5 Artificial Intelligence and Machine Learning6.7 Ecosystem6.8 Patents Analysis6.9 Use Cases6.9.1 Pharmaceuticals & Healthcare6.9.2 Food & Beverages6.9.3 Chemicals6.10 Regulations Pertaining to Cold Chain Monitoring Market6.10.1 Positive Impact of Regulations on Cold Chain Monitoring Market6.10.2 Negative Impact of Regulations on Cold Chain Monitoring Market6.10.3 Regulations and Standards22.214.171.124 Regulations and Standards by World Health Organization126.96.36.199 Regulations and Standards in Various European Countries6.11 Average Selling Price Trends6.12 Trends and Disruptions Impacting Customers
7. Cold Chain Monitoring Market, by Temperature Type7.1 Introduction7.2 Frozen7.2.1 Frozen Segment to Continue to Hold Larger Share of Cold Chain Monitoring Market During Forecast Period7.3 Chilled7.3.1 Chilled Segment to Grow at Higher CAGR During Forecast Period
8. Cold Chain Monitoring Market, by Offering8.1 Introduction8.2 Hardware8.2.1 Sensors and Data Loggers188.8.131.52 Sensors and Data Loggers are Increasingly Being Used to Gather Real-Time Data Across Pharmaceuticals Industry8.2.2 Rfid Devices184.108.40.206 High Demand for Rfid Tags in Large Warehouses is Likely to Drive Cold Chain Monitoring Market During Forecast Period8.2.3 Telematics & Telemetry Devices220.127.116.11 Rising Need for Efficient Telematics Support to Track Food Products in Food & Beverages Industry Drives Demand for Telematics & Telemetry Devices8.2.4 Networking Devices18.104.22.168 Growth of Networking Devices in Cold Chain Monitoring Market is Attributed to Growing Internationalization of Pharmaceuticals Supply Chain8.3 Software8.3.1 On-Premises22.214.171.124 On-Premises Deployment is Suitable for Localized Cold Chain Monitoring8.3.2 Cloud-Based126.96.36.199 Market for Cloud-Based Deployment Type is Expected to Grow at Higher CAGR During Forecast Period
9. Cold Chain Monitoring Market, by Logistics9.1 Introduction9.2 Storage9.2.1 Warehouses188.8.131.52 Use of Warehouses is Expected to Rise During Forecast Period9.2.2 Cold Containers184.108.40.206 Majority of Cold Chain Containers are Used for Storage at Production Sites9.2.3 Blast Freezers220.127.116.11 Majority of Blast Freezers are Used for Storing Prepared Food Items9.3 Transportation9.3.1 Airways18.104.22.168 Airways is Among Fastest Modes of Transportation of Cold Chain Products9.3.2 Waterways22.214.171.124 Waterways is Cheapest Mode of Transportation in Cold Chain Monitoring Market9.3.3 Roadways126.96.36.199 Roadways Offer Maximum Geographical Penetration in Cold Chain Monitoring Market9.3.4 Railways188.8.131.52 Railways are Convenient for Transportation of Cold Chain Materials
10. Cold Chain Monitoring Market, by Application10.1 Introduction10.2 Pharmaceuticals & Healthcare10.2.1 Vaccines10.2.1.1 Vaccine Production and Distribution Activities Rely on Efficient Cold Chains, Which Need Effective Monitoring Solutions10.2.2 Biobanks10.2.2.1 Requirement of Strictly Regulated Temperature Levels in Biobanks Boosts Growth of Cold Chain Monitoring Market10.2.3 Medicines & Drugs10.2.3.1 Cold Chain Monitoring Devices Help Increase Effectiveness of Medicines and Reduce Wastage of Medicines and Drugs10.3 Food & Beverages10.3.1 Fruits & Vegetables10.3.1.1 Cold Chain Monitoring Devices Help in Reducing Wastage and Improving Quality of Fruits and Vegetables10.3.2 Meat & Seafood10.3.2.1 Cold Chain Monitoring Helps in Increasing Durability and Preventing Any Infection During Storage and Transportation of Meat and Seafood10.3.3 Poultry & Dairy Products10.3.3.1 Cold Chain Monitoring Helps in Prolonging Shelf Life and Preventing Contamination of Poultry and Dairy Products10.3.4 Processed Foods10.3.4.1 Processed Foods Need Cold Chain Monitoring to Increase Durability and Prevent Spoilage10.4 Chemicals10.4.1 Adoption of Cold Chain Monitoring Solutions in Chemicals Segment to Grow Significantly During Forecast Period10.5 Others10.5.1 Agriculture10.5.1.1 Continuous Innovations in IoT for Agriculture Industry Boost Adoption of Cold Chain Monitoring Solutions10.5.2 Manufacturing10.5.2.1 Cold Chain Monitoring Devices are Used in Manufacturing Industry to Maintain Temperature and Ambient Conditions
11. Geographic Analysis
12. Competitive Landscape12.1 Overview12.2 Key Player Strategies/Right to Win12.2.1 Product Portfolio12.2.2 Regional Focus12.2.3 Manufacturing Footprint12.3 Market Share Analysis, 202012.4 Market Ranking Analysis of Top 5 Market Players12.5 5-Year Company Revenue Analysis12.6 Competitive Leadership Mapping12.6.1 Star12.6.2 Emerging Leaders12.6.3 Pervasive12.6.4 Participant12.7 Start-Up/Sme Evaluation Quadrant12.7.1 Progressive Companies12.7.2 Responsive Companies12.7.3 Dynamic Companies12.7.4 Starting Blocks12.8 Company Product Footprint12.9 Competitive Scenario12.9.1 Product Launch & Product Development12.9.2 Product Launches and Product Development12.9.3 Deals
13. Company Profiles13.1 Key Players13.1.1 Orbcomm13.1.2 Sensitech Inc.13.1.3 Berlinger & Co.13.1.4 Monnit13.1.5 Controlant13.1.6 Elpro-Buchs13.1.7 Savi Technology13.1.8 Infratab13.1.9 Veridify Security 13.1.10 Zest Labs13.2 Other Important Players13.2.1 Temperature Monitor Solutions Africa13.2.2 Lineage Logistics13.2.3 Daikin Industries13.2.4 Cryoport Systems13.2.5 Klinge Corporation13.2.6 Nimble Wireless13.2.7 Verigo13.2.8 Astrona Biotechnologies13.2.9 Telesense Inc 13.2.10 Tempsen 13.2.11 Tagbox Solutions 13.2.12 Freshsurety 13.2.13 Safetraces 13.2.14 Timestrip
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