IoT For Cold Chain Monitoring Market Size | Global Industry Analysis, Segments, Top Key Players, Drivers, and Trends to 2026

Is the term ‘cold chain monitoring’ relatively new to you? Don’t worry; this article will cover all the aspects in a clear and simplified way. Stay tuned till the end to gain valuable insights related to the topic mentioned above.

Cold Chain Monitoring: What Is it Exactly?

Before getting directly into cold chain monitoring, you need to understand what a cold chain is. Well, it is a temperature-controlled supply chain that is established to deliver a sustained series of storage, refrigerated production, and distribution procedures. In order to maintain the required temperature, logistics and equipment play an essential role. However, regardless of the product, industry, or the cold chain’s structure, the products can frequently get exposed to potential harm and damage. This is where the importance of cold chain temperature monitoring arises.

Data logging and cold chain temperature monitoring help to develop an understanding of whether the product has reached the customers in an uncompromised way. Professionals who are responsible for tracking the process have access to various technologies. IoT for cold chain monitoring enables them to keep a record of the temperatures in specific controlled environments.

The cold chain temperature monitoring devices enable the workers to maintain appropriate temperatures to avoid pitfalls.

Cold Chain Monitoring: Why Should They Be Resilient?

The logistics should be resilient and agile in order to perform careful crisis management, such as:

•      Issues in clearing customs
•      Malfunctions in the equipment
•      Unexpected delays in the process

Cold Chain Temperature: What Products Should be Monitored?

Certain sensitive products require constant cold chain temperature monitoring, such as:

•     Meat
•     Plants
•     Chemicals
•     Vaccines
•     Drugs

Cold chain monitoring should be done throughout the supply chain. It includes:

•     Manufacturing
•     Transportation
•     Customs
•     Storage
•     End-user

Cold Chain Monitoring: What Are the Critical Considerations?

A business person must understand the considerations that should be prioritized for their business needs:

•     Comprehensive temperature data
•     Real-time data
•     Monitoring at the package level
•     Connectivity
•     Analytics
•     User-friendliness
•     Selecting the right provider

Cold Chain Monitoring: Why Is it Important for Transportation?

While transporting a product from one place to another, variations in unforeseen environmental conditions can occur. To keep the integrity of the product intact, cold chain temperature monitoring is essential. Certain damages in the products might lead to significant capital loss. There are certain drugs and pharmaceutical medications that are temperature sensitive. To avoid quality issues, taking vital measures matters a lot.

Cold Chain Monitoring: What Are the Future Analysis?

There is an increasing demand for refrigeration in various sectors such as food and beverage, healthcare, chemical industries, and pharmaceuticals. The use of IoT-based devices is increasing tremendously to monitor the humidity and temperature of a particular product. According to a recent analysis, it is expected that cold chain monitoring will grow at a CAGR of 16.6%. From USD 4.7 billion in 2021, it will hit USD 10.2 billion by 2026.

Cold Chain Monitoring: What Are the Segments Covered?

The cold chain monitoring market covers various segments that are based on logistics, components, applications, and regions. Check out the segments mentioned below:

Segments covered on the basis of component:

Software

•    Premises cloud-based

Hardware

•    Telemetry and telematics devices
•    Sensors and data loggers RFID devices
•    Networking devices

Segments covered on the basis of logistics:

•    Transportation
•    Storage

Segments covered on the basis of application:

•    Chemicals
•    Healthcare and pharmaceuticals
•    Food and beverages

Segments covered based on regions:

North America

•    Mexico
•    The U.S.
•    Canada

Europe

•    The U.K.
•    Germany
•    Italy
•    France
•    Rest of Europe

Asia-Pacific

•    India
•    China
•    Japan
•    South Korea
•    Australia
•    Rest of Asia-Pacific

Lama

•    Africa
•    Latin America
•    Middle East

Cold Chain Monitoring: Who Are the Top Key Players?

Check out the key market players related to cold chain monitoring temperature devices:

•     Berlinger & Co. ag
•     Americold Logistics, IIc
•     Control
•     Infratab
•     Hanwell solutions
•     Monnit corporation
•     Savi technology
•     ORBCOMM, Inc
•     Sensitech Inc

Some of the other players are:

•     Klinge corporation
•     Lineage logistics holdings LLC
•     Interstate warehousing, Inc
•     Daikin industries, Ltd
•     Maven Systems Pvt.Ltd
•     Partner logistics

Cold Chain Monitoring: What Are the Opportunities and Trends?

Check out some of the opportunities and trends stated below:

•      Increasing attention and focus on product sensitivity and quality is supposed to fuel the demand for cold chain monitoring in the next few years.
•      Constant growth in the demand for temperature-sensitive drugs like vaccines will drive the overall cold chain monitoring market.
•      Several measures and initiatives by the government bodies tend to promote the beneficial aspects of cold chain temperature monitoring. This can lead to increased demand in the upcoming years.
•       Continuous growth in retail sectors and organized pharmaceutical firms will boost the need for cold chain monitoring in the future.
•       The healthcare segment can contribute a lot to the cold chain monitoring market due to the overall development and growth in various advanced software used to track pharmaceutical drugs and the cold chain of blood banks.
•       The hardware monitoring systems can significantly contribute due to their deployment in specific applications such as poultry and dairy, vegetables and fruits, pharmaceutical industries, seafood, etc.

The Bottom Line

The cold chain temperature monitoring devices are expected to be the real game-changer after a few years. It is an incredibly competitive market where well-established players are striving hard. In the upcoming years, improved quality in the service and products can be expected, which will meet the customer requirements and demands, thus boosting the overall consumer base.