What Is The Current and Historic Market Size Analysis Of The Cold Chain Temperature Monitoring Market?
The cold chain temperature monitoring market has seen considerable growth due to a variety of factors.
• Recently, there has been swift growth in the cold chain temperature monitoring market size. This is anticipated to surge from $8.79 billion in 2024 to $10.33 billion in 2025, representing a compound annual growth rate (CAGR) of 17.5%.
The previously witnessed growth can be linked to an increase in global commerce, a heightened demand for pharmaceutical goods, the significance of preserving product quality, a rise in the presence of cold chain logistics, and emphasis on predictive maintenance.
What Are The Predictions for The Cold Chain Temperature Monitoring Market in the Coming Years?
The cold chain temperature monitoring market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the cold chain temperature monitoring market is projected to experience swift expansion. It is calculated to reach $19.5 billion by 2029, with a compound annual growth rate (CAGR) of 17.2%.
The imminent growth in the forecast span could be due to key players' integration of advanced technologies, the broadening and improvement of product assortments, adoption of ground-breaking temperature supervision solutions, the rising demand for cold chain tracking in developing nations, and a focus on automation and cold storage techniques. The trends predicted for this duration encompass a growing use of sensors and data loggers, the broadening of software solutions for cold chain inspection, an emphasis on the security and safety of monitor systems, a preference for on-site software solutions, and a focus on enhancing operational efficiencies.
Which Drivers Are Accelerating Growth In The Cold Chain Temperature Monitoring Market?
The growth of the cold chain temperature monitoring market is projected to be fueled by the burgeoning e-commerce sector. E-commerce, which predominantly happens over the internet, involves the electronic exchange of goods and services. It is gaining traction due to the convenience it offers, advancement of technology, and heightened uptake during the COVID-19 pandemic, all of which have made it possible for enterprises to tap into the international market while revamping supply chain logistics. Cold chain temperature monitoring setups offer real-time oversight and regulation of temperature-sensitive items, equipping e-commerce businesses with the capacity to uphold product standards, satisfy customer needs, and evidence regulatory adherence. To illustrate, as reported by the United States Census Bureau, a government establishment in the US, e-commerce sales for 2023 within the US totalled $1,118.7 billion, marking a 7.6% growth from 2022 figures. Hence, the proliferation of e-commerce is spearheading the advancement of the cold chain temperature monitoring market.
What Are The Core Segments Of The Global Cold Chain Temperature Monitoring Market?
The cold chain temperature monitoring market covered in this report is segmented –
1) By Hardware: Conventional Temperature Loggers, Real Time Monitoring Devices, Resistance Temperature Detectors, Temperature Indicators, Other Hardware
2) By Software: On Premise, Cloud Based
3) By End User: Fish, Meat And Seafood, Processed Food, Pharmaceuticals, Bakery And Confectionaries, Fruits And Vegetables, Dairy Products, Other End Users
Subsegments:
1) By Conventional Temperature Loggers: Battery-Powered Temperature Data Loggers, USB Temperature Loggers, Multi-Channel Temperature Loggers, Manual Data Retrieval Temperature Loggers
2) By Real-Time Monitoring Devices: Wireless Temperature Monitoring Systems, Cloud-Based Temperature Monitoring Devices, IoT-Enabled Real-Time Monitoring Devices, GPS-Integrated Real-Time Monitoring Devices, Mobile App-Enabled Real-Time Monitors
3) By Resistance Temperature Detectors (RTDs): Industrial-Grade RTD Sensors, High Precision RTDs for Cold Chain Applications, RTD Probes for Refrigerated Transport, RTD Sensors with Digital Output
4) By Temperature Indicators: Analog and Digital Temperature Indicators, Visual Temperature Display Devices, LCD/LED Temperature Indicators for Cold Storage, Temperature Warning and Alert Indicators
5) By Other Hardware: Thermocouples for Temperature Monitoring, Infrared Temperature Sensors, Data Acquisition Systems for Cold Chain Management, RFID Temperature Tracking Tags, Hybrid Temperature Monitoring Devices
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What Emerging Trends Are Influencing The Growth Of The Cold Chain Temperature Monitoring Market?
Leading businesses in the cold chain temperature monitoring market are introducing innovative temperature tracking devices like CubiSens XT1 to augment real-time observation and safeguard the wholeness of temperature-dependent products during the supply chain journey. CubiSens XT1 is a tool that employs an array of sensor technologies to document and examine temperature circumstances at various stages of product transit and storage. For example, CubeWorks, a tech firm based in the US, unveiled CubiSens XT1 in September 2022. CubiSens XT1 is geared toward delivering a holistic solution for observing and improving agricultural procedures. It amalgamates various sensors and technologies to collect data on environmental conditions, plant health, soil moisture levels, among other pertinent factors. The ultimate goal is to aid farmers in making knowledgeable decisions, boost crop productivity, maximize resource utilization, and enhance overall efficiency and sustainability in the agricultural sector.
Who Are the Key Players In The Cold Chain Temperature Monitoring Market?
Major companies operating in the cold chain temperature monitoring market are:
• Zebra Technologies Corporation
• Cryoport Inc.
• Cold Chain Technologies
• Controlant
• Sensitech Inc.
• OMEGA Engineering inc.
• Luna
• Elitech
• MOBIQU
• Thermo Electric Company Inc.
• DeltaTrak Inc.
• Berlinger & Co. AG
• Insignia Technologies
• Softbox
• CargoSense
• PakSense
• Elpro-Buchs AG
• CubeWorks
• Infratab Inc.
• Kedeon
• CWD Limited
• ORBCOMM
• Roambee Corporation
• iMatrix Cloud
• AeroSafe Global
What Are The Regional Insights Into The Cold Chain Temperature Monitoring Market?
North America was the largest region in the cold chain temperature monitoring market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cold chain temperature monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
