Global Cold Chain Monitoring Market- Market Overview

The global Cold Chain Monitoring market is expected to grow from USD 4.4 Billion in 2020 to USD 13.8 Billion by 2028, at a CAGR of 15.6% during the Projection period 2021-2028. This growth of the Cold Chain Monitoring market is mainly driven by an upsurge in demand for cold chain monitoring products across the pharmaceuticals & healthcare applications along with the increased usage of packaged foods.

Cold chain refers to the supply chain of temperature-sensitive and/or perishable products such as biologics, pharmaceuticals, food, and beverages. However, cold chain monitoring comprises of usage of internet of things (IoT) technology to constantly monitor temperature-sensitive products being transported in this cold chain. Cold chain monitoring has become an essential process to ensure proper monitoring and avoid suboptimal conditions during storage and transport which can damage the quality of products. The improper monitoring may put people’s safety and health at risk and potentially damages a company’s brand and customer loyalty.

Cold Chain Monitoring offers various benefits such as quick detection of product temperature problems, keeping track of all of the cold chain products from a single technology platform, and improving predictive maintenance, remote monitoring, compliance, fleet management, and predictive quality.

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Market Dynamics

Drivers:

• Upsurge in demand for cold chain monitoring from the pharmaceutical industry

There is significant demand for pharmaceutical cold chain monitoring to ensure a temperature-controlled supply chain, from the creation of pharmaceutical products to its distribution. Uninterrupted refrigeration is being used during the production, storage, and delivery processes associated with these products. For instance, as per the Biopharma Cold Chain Sourcebook, between 2018 and 2024 there has been a 48% growth in the cold chain market in the pharmaceuticals industry for the shipping and storage of drugs that require at least 2 to 8 degrees Celsius.

• The rise in demand for packaged foods and beverages

Packaged foods and beverages lessen or eliminate the risk of tampering and adulteration with the presentation of food in a hygienic and desirable way. This has led to the demand for such foods and beverages. However, to ensure that this food lasts longer and remains fresh for longer, there is a need for a cold chain. The dairy and frozen dessert items along with the confectionery and bakery products create demand for cold-chain services.

In addition to this, the rising middle-class population across the developing countries fuels demand for fresh produce, which further pushes the need for cold chain solutions to move from agricultural regions. Hence, demand for packaged foods and beverages boosts the growth of the cold chain monitoring market.

Restraints:

• Lack of standardization for cold chain monitoring equipment

The prominent limitation to the global cold chain monitoring market is an absence of standardization of cold chain monitoring equipment. The absence of standardization has enabled confusion among users. However, this factor leads to the emission of greenhouse gases and carbon which can slow down the cold chain monitoring market growth; owing to strict environmental regulations.

Opportunities:

• The emergence of advanced cold chain monitoring devices

Technological innovations have led to the emergence of new cold chain monitoring devices with advanced capabilities. For instance, in February 2021, Sensitech launched Next-Generation IoT Supply Chain Monitoring Devices. This enhanced family of TempTale GEO and VizCommTM View products supports shipments comprising of pharmaceuticals, vaccines, and test kits. The introduction of such products is opportunistic for the growth of the market.

Challenges:

• Increasing costs of cold chain monitoring

Issues or failures associated with the installation and monitoring can increase the costs to the company. In addition to this, inappropriate Projectioning and decision-making results in the lack of end-to-end supply chain and can result in excessive costs, product wastage, and delays, in addition to the downstream effects of damaged or lost goods. Such factors may pose significant challenges to the market. 

Segmentation Analysis

The global cold chain monitoring market has been segmented based on components, logistics, applications, and regions.

By Component

• The component segment includes hardware and software. The hardware segment led the cold chain monitoring market with a market share of around 68.9% in 2020. The growth of this segment is mainly driven by the need for various hardware components in cold chain monitoring which comprises sensors & data loggers, telematics & telemetry devices, RFID devices, and networking devices. However, the software segment is expected to witness the highest growth rate during the Projection period.

By Logistics

• The logistics segment includes storage and transportation. The storage segment held the largest market share of 62.1% in 2020. Increasing preference for packaged food around the globe primarily drives the growth of this segment. There is rising demand for storage of packaged food as well as medicines at consistent temperature levels, creating demand for storage monitoring solutions. However, the transportation segment is projected to witness the highest growth rate during the Projection period owing to the increasing trade of beverages, food products, and pharmaceutical products.

By Application

• The application segment includes pharmaceutical and healthcare, food and beverage, chemicals. The pharmaceutical and healthcare segment held the largest market share of 43.7% in 2020. Strict regulations associated with the shipment and storage of pharmaceutical products create demand for cold chain monitoring solutions for pharmaceutical and healthcare applications. Some of the pharmaceutical products are extremely temperature-sensitive; hence, the need for effective temperature monitoring technologies fuels the growth of this segment. However, the chemicals segment is expected to witness the highest growth rate during the Projection period.

By Regional Analysis

The regions analyzed for the cold chain monitoring market include North America, Europe, South America, Asia Pacific, and the Middle East, and Africa. The North American region dominated the Cold Chain Monitoring market and held the 33.4% share of the market revenue in 2020.

• The growth of the North American cold chain monitoring market is mainly driven by a number of factors such as well-established pharmaceutical and healthcare industries, the presence of leading market players, and growing demand for chilled and frozen foods. In addition to this, the region is one of the major importers and exporters of perishable food, including fish, meat, and seafood, across the globe. This factor creates demand for cold chain monitoring solutions in the region.
• The Asia-Pacific region is likely to register significant growth during the Projection period due to the rapid industrialization, demand for canned and processed food items, and growing population. In addition to this, the rollout of warehousing and transportation networks in the region is projected to create lucrative growth opportunities for the market.

Key Industry Players Analysis

New acquisitions are way for the improvement of market position by key market players

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global cold chain monitoring industry.

For instance, in October 2020, AmeriCold Logistics LLC, the temperature-controlled warehousing and transportation company acquired Agro Merchants Group. This acquisition strengthens Americold's footprint in Europe.

In August 2017, ORBCOMM Inc., a provider of Machine-to-Machine (M2M) and Internet of Things (IoT) solutions launched the next generation of its cold chain monitoring solution.

• Americold Logistics, LLC
• Berlinger & CO. AG
• Controlant EHF
• Elpro-Buchs AG
• Infratab, Inc.
• Monnit Corporation
• Orbcomm Inc.
• Lineage Logistics Holdings, LLC
• Klinge Corporation
• Interstate Warehousing, Inc.
• Partner Logistics
• Maven Systems Pvt. Ltd.
• Savi Technology, Inc.
• SecureRF Corporation
• United Technologies Corporation

Latest Development

• January 2021- PL Developments (PLD) which is a manufacturer, packager, and distributor of healthcare products partnered with Barcode which is a provider of digital, time, and temperature-sensitive supply chain systems. The main aim of this partnership is to enhance the scale and availability of Varcode’s cold chain monitoring technology.
• November 2019- Lineage Logistics Holdings, LLC, the innovative provider of temperature-controlled logistics solutions acquired Emergent Cold. This acquisition enhances the Company’s presence in the U.S. and signifies its entry into the New Zealand, Australian, and Sri Lankan temperature-controlled logistics markets.

Report Metrics

Report Attribute	Details
Projection period	2021-2028
Base year considered	2020
CAGR (%)	15.6%
Market Size	4.4 Billion in 2020
Projection unit	Value (USD)
Segments covered	Component, Logistics, Application, and Regions
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Americold Logistics, LLC, Berlinger & CO. AG, Controlant EHF, Elpro-Buchs AG, Infratab, Inc., Monnit Corporation, Orbcomm Inc., Lineage Logistics Holdings, LLC, Klinge Corporation, Interstate Warehousing, Inc., Partner Logistics, Maven Systems Pvt. Ltd., Savi Technology, Inc., SecureRF Corporation,  and United Technologies Corporation among others.
By Component	Hardware Software
By Logistics	Storage Transportation
By Application	Pharmaceutical and Healthcare Food and Beverage Chemicals
Regional scope	North America USA Canada Mexico Europe Germany France UK Italy Spain Russia Asia-Pacific Japan China India Korea Southeast Asia South America Brazil Peru The Middle East and Africa UAE South Africa Saudi Arabia

Scope of the Report

Global Cold Chain Monitoring Market by Component:

• Hardware
• Software

Global Cold Chain Monitoring Market by Logistics:

• Storage
• Transportation

Global Cold Chain Monitoring Market by Application:

• Pharmaceutical and Healthcare
• Food and Beverage
• Chemicals

Global Cold Chain Monitoring Market by Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• The Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political- Strict regulations associated with the shipment and storage of pharmaceutical products create demand for cold chain monitoring solutions for pharmaceutical and healthcare applications. Some of the pharmaceutical products are extremely temperature-sensitive; hence, the need for effective temperature monitoring technologies fuels the growth of this segment.

Economic- Issues or failures associated with the installation and monitoring can increase the costs to the company. In addition to this, inappropriate Projecting and decision-making results in the lack of end-to-end supply chain and can result in excessive costs, product wastage, and delays, in addition to the downstream effects of damaged or lost goods. Such factors may pose significant challenges to the market.

Social- The growth of the North American cold chain monitoring market is mainly driven by a number of factors such as well-established pharmaceutical and healthcare industries, the presence of leading market players, and growing demand for chilled and frozen foods. In addition to this, the region is one of the major importers and exporters of perishable food, including fish, meat, and seafood, across the globe. This factor creates demand for cold chain monitoring solutions in the region.

 

Technological-  Technological innovations have led to the emergence of new cold chain monitoring devices with advanced capabilities. For instance, in February 2021, Sensitech launched Next-Generation IoT Supply Chain Monitoring Devices. This enhanced family of TempTale GEO and VizCommTM View products supports shipments comprising of pharmaceuticals, vaccines, and test kits. The introduction of such products is opportunistic for the growth of the market.

Environmental- Cold Chain Monitoring offers various benefits such as quick detection of product temperature problems, keeping track of all of the cold chain products from a single technology platform, and improving predictive maintenance, remote monitoring, compliance, fleet management, and predictive quality.  the emission of greenhouse gases and carbon which can slow down the cold chain monitoring market growth; owing to strict environmental regulations.

Legal- PL Developments (PLD) which is a manufacturer, packager, and distributor of healthcare products partnered with Barcode which is a provider of digital, time, and temperature-sensitive supply chain systems. The main aim of this partnership is to enhance the scale and availability of Varcode’s cold chain monitoring technology. Lineage Logistics Holdings, LLC, the innovative provider of temperature-controlled logistics solutions acquired Emergent Cold. This acquisition enhances the Company’s presence in the U.S. and signifies its entry into the New Zealand, Australian, and Sri Lankan temperature-controlled logistics markets.

1. Introduction
   • Objectives of the Study
   • Market Definition
   • Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • Porter’s Five Forces Analysis
   • Value Chain Analysis
   • Top Investment Pockets
     • Market Attractiveness Analysis By Component
     • Market Attractiveness Analysis By Logistics
     • Market Attractiveness Analysis By Application
   • Industry Trends
5. Market Dynamics
   • Market Evaluation
   • Drivers
     • Upsurge in demand for cold chain monitoring from pharmaceutical industry
     • Rise in demand for packaged foods and beverages
   • Restrains
     • Lack of standardization for cold chain monitoring equipment
   • Opportunities
     • Emergence of advanced cold chain monitoring devices
   • Challenges
     • Increasing costs of cold chain monitoring

6. Global Cold Chain Monitoring Market Analysis and Projection, By Component
   • Segment Overview
   • Hardware
   • Software
7. Global Cold Chain Monitoring Market Analysis and Projection, By Logistics
   • Segment Overview
   • Storage
   • Transportation
8. Global Cold Chain Monitoring Market Analysis and Projection, By Application
   • Segment Overview
   • Pharmaceutical and Healthcare
   • Food and Beverage
   • Chemicals
9. Global Cold Chain Monitoring Market Analysis and Projection, By Regional Analysis
   • Segment Overview
   • North America
     • USA
     • Canada
     • Mexico
   • Europe
     • Germany
     • France
     • UK
     • Italy
     • Spain
   • Asia-Pacific
     • Japan
     • China
     • India
   • South America
     • Brazil
   • Middle East and Africa
     • UAE
     • South Africa

10. Global Cold Chain Monitoring Market-Competitive Landscape
    • Overview
    • Market Share of Key Players in the Cold Chain Monitoring Market
      • Global Company Market Share
      • North America Company Market Share
      • Europe Company Market Share
      • APAC Company Market Share
    • Competitive Situations and Trends
      • Component Launches and Developments
      • Partnerships, Collaborations, and Agreements
      • Mergers & Acquisitions
      • Expansions

11. Company Profiles
    • Americold Logistics, LLC
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Component Portfolio
      • Recent Developments
      • SWOT Analysis
    • Berlinger & CO. AG
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Component Portfolio
      • Recent Developments
      • SWOT Analysis
    • Controlant EHF
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Component Portfolio
      • Recent Developments
      • SWOT Analysis
    • Elpro-Buchs AG
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Component Portfolio
      • Recent Developments
      • SWOT Analysis
    • Infratab, Inc.
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Component Portfolio
      • Recent Developments
      • SWOT Analysis
    • Monnit Corporation
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Component Portfolio
      • Recent Developments
      • SWOT Analysis
    • Orbcomm Inc.
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Component Portfolio
      • Recent Developments
      • SWOT Analysis
    • Lineage Logistics Holdings, LLC
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Component Portfolio
      • Recent Developments
      • SWOT Analysis
    • Klinge Corporation
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Component Portfolio
      • Recent Developments
      • SWOT Analysis
    • Interstate Warehousing, Inc.
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Component Portfolio
      • Recent Developments
      • SWOT Analysis
    • Partner Logistics
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Component Portfolio
      • Recent Developments
      • SWOT Analysis
    • Maven Systems Pvt. Ltd.
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Component Portfolio
      • Recent Developments
      • SWOT Analysis
    • Savi Technology, Inc
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Component Portfolio
      • Recent Developments
      • SWOT Analysis
    • SecureRF Corporation
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Component Portfolio
      • Recent Developments
      • SWOT Analysis
    • United Technologies Corporation
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Component Portfolio
      • Recent Developments
      • SWOT Analysis

List of Table

1. Global Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
2. Global Hardware Market, By Region, 2020–2028(USD Billion)
3. Global Software Market, By Region, 2020–2028(USD Billion)
4. Global Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
5. Global Storage Cold Chain Monitoring Market, By Region, 2020–2028(USD Billion)
6. Global Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
7. Global Pharmaceutical and Healthcare Cold Chain Monitoring Market, By Region, 2020–2028(USD Billion)
8. Global Transportation Cold Chain Monitoring Market, By Region, 2020–2028(USD Billion)
9. Global Food and Beverage Cold Chain Monitoring Market, By Region, 2020–2028(USD Billion)
10. Global Chemicals Cold Chain Monitoring Market, By Region, 2020–2028(USD Billion)
11. Global Cold Chain Monitoring Market, By Region, 2020–2028(USD Billion)
12. Global Cold Chain Monitoring Market, By North America, 2020–2028(USD Billion)
13. North America Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
14. North America Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
15. North America Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
16. US Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
17. US Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
18. US Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
19. Canada Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
20. Canada Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
21. Canada Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
22. Mexico Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
23. Mexico Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
24. Mexico Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
25. Europe Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
26. Europe Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
27. Europe Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
28. Germany Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
29. Germany Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
30. Germany Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
31. France Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
32. France Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
33. France Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
34. UK Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
35. UK Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
36. UK Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
37. Italy Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
38. Italy Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
39. Italy Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
40. Spain Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
41. Spain Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
42. Spain Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
43. Asia Pacific Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
44. Asia Pacific Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
45. Asia Pacific Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
46. Japan Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
47. Japan Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
48. Japan Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
49. China Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
50. China Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
51. China Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
52. India Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
53. India Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
54. India Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
55. South America Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
56. South America Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
57. South America Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
58. Brazil Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
59. Brazil Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
60. Brazil Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
61. Middle East and Africa Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
62. Middle East and Africa Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
63. Middle East and Africa Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
64. UAE Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
65. UAE Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
66. UAE Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)
67. South Africa Cold Chain Monitoring Market, By Component, 2020–2028(USD Billion)
68. South Africa Cold Chain Monitoring Market, By Logistics, 2020–2028(USD Billion)
69. South Africa Cold Chain Monitoring Market, By Application, 2020–2028(USD Billion)

List of Figures

1. Global Cold Chain Monitoring Market Segmentation
2. Cold Chain Monitoring Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Cold Chain Monitoring Market Attractiveness Analysis By Component
9. Global Cold Chain Monitoring Market Attractiveness Analysis By Logistics
10. Global Cold Chain Monitoring Market Attractiveness Analysis By Application
11. Global Cold Chain Monitoring Market Attractiveness Analysis By Region
12. Global Cold Chain Monitoring Market: Dynamics
13. Global Cold Chain Monitoring Market Share By Component(2021 & 2028)
14. Global Cold Chain Monitoring Market Share By Logistics(2021 & 2028)
15. Global Cold Chain Monitoring Market Share By Application(2021 & 2028)
16. Global Cold Chain Monitoring Market Share by Regions (2021 & 2028)
17. Global Cold Chain Monitoring Market Share by Company (2020)