Understanding Key Drivers and Growth Opportunities in the Cold Chain Tracking And Monitoring Market: Trends and Market Size Insights
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Primary Drivers Are Supporting the Continued Market Growth of theCold Chain Tracking And Monitoring Market?
The growth of the cold chain tracking and monitoring market will likely be fuelled by the rising demand for food and beverages. These refer to a vast assortment of goods and economic sectors engaged in the creation, processing, distribution, and consumption of food and drink. Through the use of thorough cold chain tracking and manufacturing mechanisms, the food and beverage industry can ensure that their products arrive to consumers fresh, safe and of high quality. For instance, a report by Common Thread Collective, a US e-commerce growth firm, revealed that global food and beverage revenues saw an increase from $435.3 billion in 2021 to $506 billion in 2022 as of April 2022. It is also projected that global food and beverage sales will rise to $857 billion by 2025. As such, the surge in demand for food and beverages is a key driver of the cold chain tracking and monitoring market.
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How Has the Cold Chain Tracking And Monitoring Market Evolved in Recent Years, and What are the Growth Projections for the Forecast Period?
In the past few years, there has been a swift expansion in the market size of cold chain tracking and monitoring. The market is projected to expand from $7.03 billion in 2024 to $8 billion in 2025, with a compound annual growth rate (CAGR) of 13.7%. Factors such as the globalization of supply chains, strict regulatory standards, increased demand for perishable goods, and emphasis on food safety have contributed to the growth observed in the historic period.
Anticipated to experience swift expansion in the coming years, the cold chain tracking and monitoring market’s size is forecasted to reach $13.95 billion in 2029, with a compound annual growth rate (CAGR) of 14.9%. Factors contributing to its growth in the projected timeframe include the rising e-commerce sector for food and pharmaceuticals, increasingly complex supply chains, the burgeoning pharmaceutical industry, a focus on sustainability and the environment, and alterations in healthcare logistics due to the pandemic. The main trends to look out for during this forecast period comprise environmental sustainability, apprehensions about data security, partnerships and collaborations, as well as real-time visibility and analytics.
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How Are Consumer Market Innovations Shaping the Current and Future Landscape of theCold Chain Tracking And Monitoring Market?
Innovations in technology are emerging as a prominent trend in the cold chain tracking and monitoring market. To maintain their market dominance, leading businesses in this sector are opting for the latest technology. As an example, Tridentify, a MedTech business based in Sweden, introduced a real-time cold chain monitoring system in May 2023. This new system provides an in-depth understanding of the stability and remaining shelf life of pharmaceutical products in real-time. With the launch of this innovative system, Tridentify has revolutionized the industry, enabling companies to oversee their operations and the robustness of their shipments in real-time. This cutting-edge solution facilitates accurate and immediate evaluation of consignments, thereby assisting enterprises in making informed, data-driven decisions. This system is specially engineered with sophisticated technology, incorporating advanced sensors and machine-learning algorithms for superior system monitoring.
Who Are the Key Market Players Influencing the Growth of the Corn and Cold Chain Tracking And Monitoring Industry?
Major companies operating in the cold chain tracking and monitoring market include Carrier Global Corporation, Emerson Electric Co., AmeriCold Logistics LLC, Lineage Logistics LLC, Digi International Inc., ORBCOMM Inc., Cryoport Inc., Controlant AGM, Sensitech Inc., SpotSee Holdings LLC, ELPRO-BUCHS AG, Berlinger & Co AG, Hanwell Solutions Ltd., Tippmann Group, Cryopak Industries Inc., Savi Technology Inc., Rotronic AG, Maven Systems Pvt. Ltd., Klinge Corporation, Monnit Corporation, LogTag Recorders Ltd., Testo SE & Co. KGaA, Verigo, BT9 Ltd., Zest Labs Inc., Blulog, Gemini Data Loggers UK Ltd., Intelleflex Corporation, Infratab Inc.
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Which Key Market Segments Comprise the Cold Chain Tracking And Monitoring Market and Drive Its Revenue Growth?
The cold chain tracking and monitoring market covered in this report is segmented –
1) By System: Software, Hardware
2) By Solution: Storage, Transportation
3) By End User: Healthcare, Pharmaceuticals, Food And Beverages, Chemicals, Other End Users
Subsegments:
1) By Software: Cloud-Based Software, On-Premises Software, Mobile Applications, Data Analytics Tools
2) By Hardware: Temperature Loggers, RFID Tags, GPS Tracking Devices, Sensors (Temperature, Humidity, Pressure), Monitoring Devices (Data Loggers, Alarm Systems)
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Which Regions Are Emerging as Leaders in the Cold Chain Tracking And Monitoring Market?
North America was the largest region in the cold chain tracking and 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 tracking and monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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