The Europe Cold Chain Temperature Monitoring Market would witness market growth of 19.6% CAGR during the forecast period (2020-2026).
Cold chain monitoring is a supply chain logistics system that aims to effectively track perishables, food, pharmaceuticals and healthcare with assured freshness. Monitoring and productive management depend on the hardware and software chosen for monitoring. The greater awareness of food and beverage safety in the supply chain is driving the global demand for tracking the cold chain. Cold chain management is widely used in food, agriculture and pharmaceutical sectors to ensure a reliable supply chain with regulated temperatures.
It plays an important role in delivering management solutions and optimizing efficiency across real-time data in different applications’ storage and delivery networks. Effective monitoring in the pharmacy and healthcare industries reduces waste and increases the shelf life and efficacy of products. Cold chains must be monitored constantly to ensure the safety and security of vaccines, medicines and other active ingredients. In hospitals, pharmacies or nursing homes, temperature fluctuations during the preparation of medications are dangerous and can adversely impact shelf life and effectiveness.
With rising competition for the enhancement of the processed food supply chain, such as dairy and frozen products, the industry is growing. In addition, the increasing need for cold chain monitoring systems in the pharmaceutical and biomedical industries to respond to the production of temperature-sensitive drugs is another key factor contributing to the growth of the market. In addition, growing recognition within the population of improved food quality and the need to reduce food waste are creating a positive outlook on the market. Nevertheless, the large capital expenditure for the introduction of the program is likely to impede the growth of the market.
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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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.
Scope of the Study
o Conventional Temperature Loggers
o Real-Time Monitoring Devices
o Temperature Indicators
o Resistance Temperature Detectors
By End User
• Fish, Meat & Seafood
• Processed Food
• Bakery & Confectionaries
• Fruits & Vegetables
• Dairy Products
• Rest of Europe
• 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.
• Veridify Security, Inc.
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