Overview – Report Global Cold Chain Monitoring Market
Cold Chain Monitoring is a system which is used to monitor and ensure the shelf life of frozen foods. As the market of frozen foods is increasing, cold chain monitoring is becoming an important aspect. Improper temperature control results in heavy loss of frozen foods during the supply chain process and Cold Chain Monitoring helps to monitor the overall process and improve the safety of food and pharmaceutical products.
As a business function of distribution services, cold chain services are force multipliers that create a world of opportunities for related trade and exports of goods. A cold chain can most readily be defined as a series of warehousing and distribution activities that is designed to ensure ideal storage and transportation conditions for temperature-sensitive products. Cold chain services also have the added benefit of improving quality of life for billions of people around the world and are in high demand, especially in less developed economies that suffer from malnutrition, high rates of food spoilage and chronic disease.
The strict regulatory environment in the pharmaceutical industry is boosting the cold chain monitoring market. The major factor driving the market of cold chain monitoring is effective management of the pharmaceutical products and increase in food and pharmaceutical industry . As the demand for frozen products are increasing, companies are deploying cold chain monitoring system in their process in order to make the supply chain more efficient. According to a recent study report published by the Market Research Future, The global market of cold chain monitoring is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).
Key Players – Global Cold Chain Monitoring Market:
The prominent players in the Cold Chain Monitoring Market are- ORBCOMM (U.S.), NXP Semiconductors N.V. (Netherlands), Berlinger & Co. AG (Switzerland), Sensitech, Inc. (U.S.), NEC Corp. (Japan), Controlant EHF (Iceland), Infratab Inc. (U.S.), Monnit Corporation (U.S.), Zest Labs, Inc. (U.S.), Sensitech Inc. (U.S.) among others.
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The key factors responsible for the increase in the cold chain monitoring market is the focus on quality and product sensitivity, growth in organized retail, increase in refrigerated warehouses, government changing policies and regulations, and growth in pharmaceutical sector. However, the factor such as lack of standardization and high operational cost slow down the growth of cold chain monitoring market.
Cold Chain Monitoring Global Market – Competitive Analysis
The Market of Cold Chain Monitoring appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
Cold Chain Monitoring Global Market – Segmentation
The cold chain monitoring market is segmented in to four key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Components: Sensors, Radio frequency devices, telematics device, and software and others.
Segmentation by Application: Pharmaceutical, Chemicals, Foods & Beverages and others.
Segmentation by Logistics: Warehousing and Transportation
Segmentation by Region: North America, Europe, Asia Pacific and rest of the world.
Cold Chain Monitoring Global Market – Regional Analysis
North America is dominating the global cold chain monitoring market with the largest market share and therefore accounting for astronomical amounts and is expected to grow over its previous growth records by 2022. High standard of living and high consumption of meat products is driving the market in the North America. Cold Chain Monitoring Market in Asia Pacific market is expected to witness a fastest growing CAGR during forecast period, due to the growing chemical industry. China stands as one of the biggest market of chemicals and pharmaceutical which is giving Asia Pacific a competitive advantage over other regions. The increasing demand for quality regulation the food industry to incorporate is boosting the cold chain monitoring solutions in its supply chainis one of the significant factor strengthening the growth of cold chain monitoring market in the European region.
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- Logistics Company
- Pharmaceutical Distributors
- Food processing units
- Government organizations
- Sensor Manufacturers & Distributors
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