Published on : Sep 16, 2020
ResearchMoz.us has announced the addition of a report, titled “Global Cold Chain Monitoring Devices Market Research Report 2020”. The report on the global Cold Chain Monitoring Devices Market offers an elaborate assessment of key growth trends and drivers, recent developments in the market, the competitive ecosystem, and opportunity and challenges analysis. Segments in the report are created by product type and application.
By type the report is segmented into wireless IoT sensors, IoT Gateways, and Radio Frequency Identification. And, by application, food industry, pharmaceutical industry, and cold chain transportation industry.
Myriad factors are underscoring growth in the global cold chain monitoring devices market. And, the prominent ones depend upon a clamor to improve supply chain efficiency. For instance, governments across the globe, particularly in the developing regions, have this on their priority lists.
Some of the supply chains that figure as critical in the list are pharmaceutical products, food and processed food, dairy products, and frozen food. And, as strict regulations form around these, demand for cold chain monitoring would increase, driving growth in global cold chain monitoring devices market.
It is also worth noting here that investments are pouring in from both governments and private investors towards establishing warehouses that are refrigerated. And, this majorly stems out from the need to reduce food spoilage and damage goods sensitive toe external conditions such as temperature.
Additionally, a large demand for pharmaceutical goods is arising from the developing nations and to ensure that a smooth supply is maintained, a robust chain is of cols chains is required so that temperature is maintained at the level that fits the bill, protecting the formulations from soiling and the integrity of drugs. This drives the demand for cold chains monitoring devices market.
Besides, technology also plays a critical role in the growth projected for global cold chain monitoring devices market. Some of the technologies that support growth in the market are Internet of Things (IoT), and Radio Frequency Identification (RFID). These not only help in tracking products every step of the way, but also make the process efficient.
Region-wise, the report covers Latin America, North America, Asia, Pacific, and Europe. Countries include Italy, Russia, the United States of America, Canada, Brazil, Mexico, France, Germany, Japan, South Korea, China, and Taiwan, to name a few.
It is worth noting here that owing to presence of robust transportation and distribution system, Canada, and the United States would contribute significantly to cold chains monitoring and cold chains monitoring devices market. This will lead to North America to hold a substantial share of the market. However, it is the Asia Pacific region that will chart the fastest rate of growth owing to massive population, efforts towards improving warehouse and logistics, and increase in demand for processed food and pharmaceuticals.
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In the cold chain monitoring sphere some of the most renowned names that operate the market field and set new benchmarks for growth are Orbcomm, Sensitech, Berlinger & Co., Monnit, Controlant, Elpro-Buchs, Securerf Corporation, Savi Technology, Zest Labs, and Infratab, among others. Development of products using advanced technology and building the foundations on innovation is the key strategy of growth for major market players over the forecast period. For instance, Orbcomm introduced PT 6000 – next generation solution for monitoring of cold chains – in 2017. It is in line with regulatory requirements, and guarantees temperature management as well as fuel and logistics management. Besides, it is in the market in 3G version – LTE cellular.