Cold Chain Monitoring Market, By Components (Sensors, RF Devices, Telematics Device, Software), By Application (Pharmaceutical, Chemicals, Foods & Beverages), By Logistics (Warehousing, Transportation) - Forecast 2016-2022

Pune, India -- (SBWire) -- 07/19/2018 --Market Highlights:

The strict regulatory environment in the pharmaceutical industry is boosting the cold chain monitoring market. The major factor driving the market of cold chain monitoring is effective management of the pharmaceutical products and increase in food and pharmaceutical industry . As the demand for frozen products are increasing, companies are deploying cold chain monitoring system in their process in order to make the supply chain more efficient. According to a recent study report published by the Market Research Future, The global market of cold chain monitoring is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).

The key factors responsible for the increase in the cold chain monitoring market is the focus on quality and product sensitivity, growth in organized retail, increase in refrigerated warehouses, government changing policies and regulations, and growth in pharmaceutical sector. However, the factor such as lack of standardization and high operational cost slow down the growth of cold chain monitoring market.
Market is expected to show a double digit growth rate in coming five years (2016-2022). The growth is majorly driven by need of effective monitoring activities in the pharmaceutical and healthcare sectors that reduces wastage by prolonging shelf live.

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Competitive Analysis

The Market of Cold Chain Monitoring appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.

Major Key Players

ORBCOMM (U.S.), NXP Semiconductors N.V. (Netherlands), Berlinger & Co. AG (Switzerland), Sensitech, Inc. (U.S.), NEC Corp. (Japan), Controlant EHF (Iceland), Infratab Inc. (U.S.), Monnit Corporation (U.S.), Zest Labs, Inc. (U.S.), Sensitech Inc. (U.S.) are some of the prominent players at the forefront of competition in the Global Cold Chain Monitoring Market and are profiled in MRFR Analysis.

Regional Analysis

North America is dominating the global cold chain monitoring market with the largest market share and therefore accounting for astronomical amounts and is expected to grow over its previous growth records by 2022. High standard of living and high consumption of meat products is driving the market in the North America. Cold Chain Monitoring Market in Asia Pacific market is expected to witness a fastest growing CAGR during forecast period, due to the growing chemical industry. China stands as one of the biggest market of chemicals and pharmaceutical which is giving Asia Pacific a competitive advantage over other regions. The increasing demand for quality regulation the food industry to incorporate is boosting the cold chain monitoring solutions in its supply chainis one of the significant factor strengthening the growth of cold chain monitoring market in the European region.

Segmentation

The cold chain monitoring market is segmented in to four key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Components: Sensors, Radio frequency devices, telematics device, and software and others.
Segmentation by Application: Pharmaceutical, Chemicals, Foods & Beverages and others.
Segmentation by Logistics: Warehousing and Transportation
Segmentation by Region: North America, Europe, Asia Pacific and rest of the world.

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Intended Audience

- Logistics Company
- Distributors
- Pharmaceutical Distributors
- Food processing units
- Government organizations
- Sensor Manufacturers & Distributors
- Fisheries

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