The global cold chain monitoring market size is expected to reach USD 16.75 billion by 2030 according to a new study by Polaris Market Research. The report “Cold Chain Monitoring Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Software); By Logistics ((Storage (Warehouse, Cold Container), Transportation (Airways, Waterways, Railways, Roadways)); Application; By Region; Segment Forecasts, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
With the unexpected environment, the cold chain has become one of the essential elements for the transportation industry. While transporting drugs for pharmaceutical or healthcare purposes, food & beverages, or any other crucial perishable item, has augmented the demand for a heat-sensitive system.
The proper management of cold chain transportation is critical for ensuring the quality of the transported goods, such as medications, which must be transported at a specified temperature in many cases. Temperature excursions are less tolerable in medical and high-end products, and product spoilage results in a significant loss of money.
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Owing to the rising preference for packaged food worldwide, the storage sector emerged as the largest segment in 2021. Packaged foods and medicines need to be kept at a constant temperature. Various sensors and control equipment monitors the temperature of packed food and medications while in storage.
Daikin Industries, Orbcomm, Berlinger & Co., Sensitech, Monnit, Controlant, Savi Technology, Elpro Buchs, Zest Labs, Securerf Corporation, Infratab, Lineage Logistics Holdings, Klinge Corporation, Temperature Monitor Solutions Africa, and others are some of the players operating in the market.
In December 2021, Daikin introduced its Refrigeration Leak Detection feature based on a unique new software algorithm. It saves time and money on manual leak checks and helps to avoid unexpected leaks during high seasons. The novel algorithm identifies even slow gas leaks across a wide load range, starting at 33% of unit load compared to 50% for other market applications.
In December 2021, ORBCOMM Inc. introduced a low-cost, flexible asset management system supported by its new GT 1030 global LTE telematics device, which aims to track and monitor all types of assets utilized in the transportation container, and heavy equipment markets.
Polaris Market Research has segmented the cold chain monitoring market report based on component, logistics, application, and region:
Cold Chain Monitoring, Component Outlook (Revenue - USD Million, 2018 - 2030)
Cold Chain Monitoring, Logistics Outlook (Revenue - USD Million, 2018 - 2030)
Cold Chain Monitoring, Application Outlook (Revenue - USD Million, 2018 - 2030)
Cold Chain Monitoring, Regional Outlook (Revenue - USD Million, 2018 - 2030)