Global Cold Chain Monitoring market size 2024, Forecast To 2033

The cold chain monitoring market has witnessed rapid growth in recent years, surging from $5.52 billion in 2023 to$6.44 billion in 2024 at a compound annual growth rate (CAGR) of 16.7%. The growth in the historic period is attributed to the increasing demand for fresh produce, expansion in the healthcare industry, emphasis on quality and safety assurance along the supply chain, optimization of logistics processes, and the evolution of the logistics industry. Looking ahead, the cold chain monitoring market is expected to witness rapid growth, projected to reach $11.82 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%. The forecasted growth is fueled by rising global demand for temperature-sensitive products, the expanding pharmaceutical industry, regulatory stringency concerning cold chain management, heightened focus on food safety standards, the integration of blockchain technology for enhanced traceability, and sustainability initiatives aimed at reducing the environmental footprint of cold chain operations. Major trends in the forecast period include the evolving demands within the pharmaceutical supply chain, increased focus on sustainability initiatives, and advancements in cold chain monitoring technologies.