Cold Chain Monitoring Market Worth $6.46 Billion by 2023 - Seite 2

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Cold chain monitoring market for transportation to grow at higher CAGR between 2018 and 2023 

The high growth of the transportation segment is driven by the growing distribution network of the cold chain. Nowadays, cold chains have become vital for modern supply chain solutions, transporting larger volumes of more sensitive or vital cargo over greater distances through diverse climatic conditions. Being prone to environmental variations, cargo needs to be maintained at a specific temperature or within an acceptable temperature range, which is also driving the growth of the market for the transportation segment.

Americas to hold largest share of cold chain monitoring market in 2018 

The Americas is the largest market for cold chain monitoring. The Americas to hold the largest share of the global cold chain monitoring market in 2018. Pharmaceuticals and healthcare is expected to continue to account for the largest size of the cold chain monitoring market in the Americas in the next few years. Various pharmaceutical companies supplying numerous drugs that require cold chain monitoring solutions are based in the country. Increasing demand for chilled and frozen foods in North American countries triggered the cold chain market growth in North America, thereby driving the growth of the cold chain infrastructure market, which includes refrigerated storage and refrigerated transport. The main factors for supporting the growth of cold chain monitoring market in the Americas are the regulatory environment for the pharmaceuticals industry and the rise in the demand for generic drugs.

Sensitech (US), ORBCOMM (US), Berlinger & Co. (Switzerland), Monnit Corporation (US), Elpro - Buchs (Switzerland), Controlant (Iceland), SecureRF Corporation (US), Savi Technology (US), Zest Labs (US), and Infratab (US) are a few major players in the cold chain monitoring market. The cold chain monitoring market consists of startups, such as Nimble Wireless (India), Tagbox Solutions (India), Verigo (US), FreshSurety (US), AstRoNA Biotechnologies (US), and SafeTraces (US).

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