U.S. Cold Chain Tracking and Monitoring Market by System, By Solution, By End User and By Connectivity Technology : Opportunity Analysis and Industry Forecast, 2020-2027

U.S. Cold Chain Tracking and Monitoring Market by System, By Solution, By End User and By Connectivity Technology : Opportunity Analysis and Industry Forecast, 2020-2027

  • August 2020 •
  • 171 pages •
  • Report ID: 5976921 •
  • Format: PDF
U.S. Cold Chain Tracking and Monitoring Market by System (Hardware and Software), By Solution (Storage and Transportation), By End User (Healthcare, Food & Beverage, Chemical, and Others) and By Connectivity Technology (Cellular IoT, GPS/GNSS and Others): Opportunity Analysis and Industry Forecast, 2020-2027

The U.S. Cold chain tracking and monitoring market was valued at $ 875.9 million in 2019, and is projected to reach $1,851.0 million by 2027, registering a CAGR of 12.3% from 2020 to 2027.
Cold chain tracking and monitoring refers to maintaining a given temperature range of products in cold storages with series of sensors and controlling devices. These are used to store perishable food items, which are supplied in army camps, pharmaceuticals, and remote areas. Food and beverages market trend with upsurge in the quality, to supplement better health and integrity. Maintenance of optimum temperature for cold chain products and drugs is essential to avoid changes in texture and taste or quality that occurs when a shipment deviates the recommended temperature and thus, the market is driven by increased focus on quality and product sensitivity. Pharmaceutical manufacturers also require efficient cold chain monitoring devices, as they deal with sensitive products utilized for customized treatments of rare diseases.
Initiatives by different governments globally holds the growth of cold chain tracking and monitoring market. For instance, India allowed 100.0% foreign domestic investment (FDI) through government route with excise duty and subsidy of over 25.0% to 33.3% on the cold storage project costs, in trading of food product manufactured or produced in country, including through e-commerce. The cold chain tracking and monitoring industry is expected to increase owing to focus on quality and product sensitivity, growth in organized retail, increase in refrigerated warehouses, government changing policies and regulations, and growth in pharmaceutical sector. However, lack of standardization and high operational cost, restrain the cold chain tracking market and cold chain monitoring market growth. Moreover, radio frequency identification (RFID) technologies for cold chain tracking market applications and research for advancements in cold chain software provides lucrative opportunities for the key players.
The demand for cold chain tracking and monitoring system is expected to grow owing to heavy investments in R&D of wireless sensors, RFID technology, and cold chain software by key players, such as Sensitech Inc., Elpro-Buchs AG, Berlinger & Co. AG, SecureRF Corporation, and Monnit Corporation.
The report segments the U.S. cold chain tracking and monitoring market based on system, solution and connectivity technology. Based on system, the market is classified into hardware and software where as hardware is the dominant segment, and consumes high market share in 2015, owing to its applications in monitoring cold chains for fruits and vegetables, meat and seafood, poultry and dairy, processed food, and in pharmaceutical industry which are essential end users of the market. The market by solution is divided into storage and transportation. Further, by connectivity technology it is categorized into cellular IoT, GPS/GNSS and others. Key market players adopt novel strategies to improve their manufacturing techniques and widen their product portfolio to gain a competitive edge over other players.

U.S. Cold Chain Tracking and Monitoring Market Key Segments
The U.S. cold chain tracking and monitoring market is segmented based on system, solution and connectivity technology.

By Systems
• Hardware
• Software

By Solutions
• Storage
• Transportation

By End User
• Healthcare
• Food & Beverage
• Chemical
• Others

By Connectivity Technology
• Cellular IoT
• GPS/GNSS
• Others