The North America Cold Chain Temperature Monitoring Market would witness market growth of 18.8% CAGR during the forecast period (2020-2026). The increasing demand for pharmaceutical products, especially in developing countries, is expected to drive the growth of the market for monitoring the cold chain. Some pharmaceutical products are highly temperature sensitive and efficient temperature monitoring technologies that must be preserved at the desired temperatures in the supply chain. Temperature management systems can help avoid spoilage of the product by maintaining the temperature at the target amount during the shipment. Other regional markets, such as the United States and Canada, are also projected to fuel the development of the cold chain management industry, as these regional markets already have a well-developed transport and distribution network.
Modern cold chain monitoring solutions are designed to control and manage products during storage and shipping cycles. They can track temperature-sensitive products, such as packaged food, frozen food items and other food items, in real time. At this juncture, the increasing trade in perishable products between the developed and emerging economies bodes well for the development of the demand for controlling the cold chain. Advances in technologies for connected devices, such as Radio Frequency Identification (RFID) and the Internet of Things (IoT), are also expected to open up opportunities for the development of ground-breaking cold chain monitoring solutions.
The RFID-enabled supply chain can be considered to be an effective supply chain in terms of product visibility. Thus, incumbents of industry verticals like processed food, livestock, chemicals, and pharmaceuticals, are proactively using the RFID technology for tracking and tracing products across the supply chain. RFID can also be combined with smart sensors to forecast product shelf life and raise alerts if the products are not kept at the appropriate temperature. Both of these factors bode well for the development of the market for monitoring the cold chain.
Based on Component, the market is segmented into Hardware and Software. Hardware market is further segmented into Conventional Temperature Loggers, Real-Time Monitoring Devices, Temperature Indicators, Resistance Temperature Detectors and Others. Software segment is further categorized into On-premise and Cloud. Based on End User, the market is segmented into Fish, Meat & Seafood, Processed Food, Pharmaceuticals, Bakery & Confectionaries, Fruits & Vegetables, Dairy Products and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: Cold Chain Temperature Monitoring Market in North America is expected to register a CAGR of 18.8% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Daikin Industries, Ltd., Zest Labs, Inc. (Ecoark Holdings, Inc.), Orbcomm, Inc. (Northrop Grumman Corporation), Carrier Global Corporation (Sensitech, Inc.), Berlinger & Co. AG, Monnit Corporation, Infratab, Inc., Klinge Corporation, Savi Technology, Inc., and Veridify Security, Inc.
Market Segmentation:
By Component
By End-User
By Country
Companies Profiled
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