1 July 2019 – The
Global Cold Chain Monitoring Market is
expected to grow at a significant CAGR in the upcoming period as the scope and
its applications are rising enormously across the globe. Cold chain monitoring
is a supply chain logistics solution that helps in effective tracking of
pharmaceutical & healthcare products, perishable products, and food items
with expected freshness.
The factors that are playing a major role in the growth of
cold chain monitoring market are the high demand for generic drugs, the rising
government initiative on issuing policies affecting supply chain efficiency of
developing pharma sector in North America and Europe, and the growing demand
for the high-quality food. However, the high cost of implementation may
restrain the overall market in the years to come. The market is segmented based
on component, application, logistics and region.
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Based on the logistics, transportation, storage, and others
could classify cold chain monitoring in the forecast period. The transportation
sector accounted for the significant share of cold chain monitoring market and
is estimated to lead the overall market in the years to come. The reason could
be the rising distribution network of the cold chain.
Globally, North America accounted for the significant share
of cold chain monitoring market and is estimated to lead the overall market in
the years to come. The reason behind the overall market growth could be the
presence of key manufacturers in the region, the high demand for frozen and
chilled foods, the presence of developed cold chain infrastructure, and the
rising demand for generic drugs. The United States is a major consumer of cold
chain monitoring in this region.
The key players of cold chain monitoring market are
Infratab, Sensitech, Zest Labs, ORBCOMM, Savi Technology, Berlinger & Co.,
SecureRF Corporation, Monnit Corporation, Controlant, and Elpro – Buchs. These
players are concentrating on inorganic growth to sustain themselves amidst
fierce competition.
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