Global cold chain monitoring market is set to soar at a healthy CAGR of 9.6% during the assessment period (2018-2023)

1. Market Highlights
Cold chain monitoring is attracting major traction globally due to the increasing demand for the
technology across various verticals. A report on the global cold chain monitoring market by Market
Research Future (MRFR) reveals the growth drivers, geographical distribution, competitive
landscape and other information. The report also states that the global cold chain monitoring
market is expected to touch USD 7.15 billion by the end of 2023. The market is slated to grow at a
healthy annual growth rate during the forecast period between 2018 and 2023.
The rising demand for the market is driven by the expanding popularity of refrigerated
warehouses. The ongoing changes being made in product development is majorly responsible for
the expansion of the market. The market is also anticipated to be positively influenced by the
various regulatory frameworks that are being imposed by the government.
Segmentation:
The segmental assessment of the cold chain monitoring market size has been carried out on the
basis of logistics, application, component, and region. Based on the components, the market for cold
chain monitoring has been segmented into hardware, services, and software. Based on the
applications, the market for cold chain monitoring has been segmented into food & beverages
(FnB), chemicals, pharmaceuticals & healthcare. On the basis of logistics, the cold chain monitoring
market has been bifurcated into transportation and warehousing. On the basis of the regions, the
market for cold chain monitoring is segmented into Europe, the Middle East, Asia Pacific, North
America, Africa, and Latin America.
Detailed Regional Analysis
The COVID-19 analysis of the cold chain monitoring market covers regions such as into Europe, the
Middle East, Asia Pacific, North America, Africa, and Latin America. The North American region is in
charge for the most important segment of the cold chain monitoring market globally. In the year
2017, the North American region controlled a third of the total market portion and was projected to
conserve its position during the forecast period. The cold chain monitoring market in the North
American region is motivated by aspects such as the mounting predilection for newly picked
produce, sustainable investments in cold chain solutions, and emerging demand for cold storage in
the pharmaceutical sector. In the meantime, the amplified economic progress and the development
of cold chain monitoring in the Asia Pacific region have stimulated a vigorous demand for dominant
cold storage technologies and shipping. The region has also been acknowledged as a speedily
growing region in the cold chain monitoring market owing to the development of the
manufacturing sector.
Competitive Analysis
The need to keep the market practices in sync with the environmental concerns that are looming is
expected to promote the overall sustainability of the market. The upturn in the performance of
domestic markets is expected to have a favorable impression on the growth of the market. The
ability to successfully satisfy the demand forces will require the industry to excel in several areas.
the variation of the workforce can enable the successful implementation of growth strategies in the
market. It is also noted that the cooperation by the governments around the world in terms of
relaxation of several barriers and the institution of constructive strategies is expected to put the

2. market on a track for unparalleled development. The limitations in the market are constantly being
studied so that breakthroughs to remove them can be undertaken.
The topmost contenders in the cold chain monitoring market are Sensitech, Inc., Berlinger & Co AG,
Controlant, Monnit Corporation, ORBCOMM Inc., NEC Corporation, NXP Semiconductors N.V.,
Infratab Inc., Elpro-Buchs A G. and Zest Labs Inc. (Ecoark Holdings).
Industry Updates:
Oct 2019 Kudelski Group and CoreKinect have recently delivered FreshTrack, the first secure,
flexible & disposable cold chain tracking solution. The joint solution offers asset monitoring at scale,
safeguarding product excellence, genuineness, and traceability. Its primary implementation is
expected to be for cold chain monitoring across grocery stores.