How Will the Cold Chain Temperature Monitoring Market Grow? Key Trends and Opportunities for 2025 and Beyond
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How has the cold chain temperature monitoring market grown over the years?
In recent years, the market size for cold chain temperature monitoring has seen rapid expansion. Predicted growth suggests it will increase from $8.79 billion in 2024 to $10.33 billion in 2025, presenting a compound annual growth rate (CAGR) of 17.5%. Factors contributing to the growth during the historic period include heightened global commerce, increased demand for pharmaceutical goods, the emphasis on product quality preservation, the expanding presence of cold chain logistics, and the shift toward predictive maintenance.
What Is the forecasted market size and growth rate for the cold chain temperature monitoring market?
In the few upcoming years, an accelerated progression is expected to be seen in the market size of cold chain temperature monitoring, which is projected to climb up to $19.5 billion by 2029, growing at a compound annual growth rate of 17.2%. This escalation in the prognosticated period can be accredited to the adoption of avant-garde technologies by market frontrunners, the broadening and enhancement of their product ranges, the proliferation of innovative temperature observation solutions, and a burgeoning requirement for cold chain tracking in emerging nations, accentuated by a focus on automation and cold storage technologies. During the forecast period, major fashions involve a surge in sensor and data logger utilisation, the outspread of software solutions for cold chain observation, an emphasis on the security and safety of tracking systems, a penchant for on-premise software solutions, and a concentrated effort on boosting operational efficiency.
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What are the major factors driving growth in the cold chain temperature monitoring market?
The surge in e-commerce is projected to stimulate the development of the cold chain temperature monitoring market. E-commerce, usually conducted over the internet, involves the purchase and sale of merchandise and services through an electronic system. The expansion of e-commerce is due to its user-friendliness, technological progress, and expedited utilization during the COVID-19 outbreak, assisting businesses in accessing a worldwide market while evolving supply chain logistics. Cold chain temperature monitoring solutions provide instantaneous insights and manage temperature-sensitive items, empowering e-commerce businesses to sustain product superiority, fulfill client demands, and illustrate regulatory agreement. For example, the United States Census Bureau, a US government entity, reported in November 2023 that overall e-commerce turnover in the USA for 2023 amounted to $1,118.7 billion, a rise of 7.6% from 2022. For this reason, the e-commerce sector’s growth is propelling the advancement of the cold chain temperature monitoring market.
What key areas define the segmentation 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 are the top market players propelling the growth of the cold chain temperature monitoring industry?
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 key trends shaping the future of the cold chain temperature monitoring market?
Key firms in the cold chain temperature monitoring market, such as CubeWorks, are pioneering innovative temperature tracking technologies such as CubiSens XT1. The goal is to improve real-time surveillance and maintain the quality of temperature-dependent products throughout the logistics chain. CubiSens XT1 provides temperature measurements at various stages of product transportation and storage using a range of sensor technologies. In September 2022, CubeWorks, a tech firm based in the United States, introduced CubiSens XT1. This innovative tracker aims to furnish an all-inclusive solution for observing and refining agricultural practices. It incorporates a variety of sensors and technologies to collect information on factors like environmental conditions, crop well-being, soil moisture, and other relevant factors. The primary objective is to assist farmers make informed decisions, enhance crop yields, use resources effectively, and boost overall productivity and sustainability in farming.
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What regions are dominating the cold chain temperature monitoring market growth?
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.
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