The global cold chain monitoring market is projected to continue its strong growth, reaching $11.82bn in 2028 at a CAGR of 16.4%, according to Business Research.

This follows robust growth in recent years, expanding from $5.52bn in 2023 to $6.44bn in 2024 at a CAGR of 16.7%. The growth in the historic period can be attributed to demand for fresh produce, healthcare industry growth, quality and safety assurance, supply chain optimisation, and logistics industry evolution.

The growth in the forecast period can be attributed to rising global demand, expanding pharmaceutical industry, regulatory stringency, focus on food safety, integration of blockchain and sustainability initiatives. Major trends in the forecast period include pharmaceutical supply chain demands and a focus on sustainability.

The growing demand for pharmaceutical products is expected to propel the growth of the market going forward. Pharmaceutical products refer to substances used for the diagnosis, treatment, prevention or cure of diseases and medical conditions in humans and animals. Cold chain monitoring keeps the inside environment colder and unaffected by outside temperature, which helps in the safe transportation of pharmaceutical products.

Key players in the market include Elpro-Buchs, Sensitech, Monnit, Berlinger, Klinge, Savi Technology, Zest Labs, Daikin Industries, Lineage Logistics Holdings, Ambetronics Engineers, GND Solutions India, Accent Systems., Trailermatics, Tenova, MosChip Technologies, Orbcomm, Geotab, Controlant, Infratab, Americold Logistics, Hanwell Solutions, Securerf, Temperature Monitoring Solutions Africa, Honeywell, Emerson Electric, Schneider Electric, Rockwell Automation, Mitsubishi Electric, General Electric and Huawei.

Major companies operating in the market are introducing more technologies to strengthen their market position.

North America was the largest region in the cold chain monitoring market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.

Cold chain monitoring refers to the monitoring of temperature-sensitive products in a cold chain with the use of IoT technology. The primary goal is to provide a secure and temperature-controlled environment for sensitive and perishable items. It ensures that perishable products are kept at safe and high-quality temperatures until they are consumed.

For more on the report, see www.thebusinessresearchcompany.com/report/cold-chain-monitoring-global-market-report.