The global cold chain monitoring market size is expected to grow from USD 4.6 billion in 2020 to USD 8.2 billion by 2025; it is expected to grow at a CAGR of 12.5% from 2020 to 2025. The key factors driving the growth of the market include the increasing demand for temperature-sensitive drugs, towering demand for better food quality, intensifying need to reduce food wastage, surging demand for generic drugs owing to higher accessibility, and surging government focus on issuing policies impacting the supply chain efficiency of the fast-growing pharmaceuticals sector in Europe and North America.
Sensitech Inc. (US), ORBCOMM (US), Berlinger & Co. AG (Switzerland), Monnit Corporation (US), ELPRO-BUCHS AG (Switzerland), Controlant (Iceland), SecureRF Corporation (US), Savi Technology (US), Zest Labs, Inc. (US), and Infratab, Inc. (US) are among a few major players in the cold chain market. The cold chain monitoring market is highly competitive, with the presence of several large and small market players. New product launches and developments, partnerships, agreements, contracts, and acquisitions are some of the major strategies adopted by the players to grow in the cold chain monitoring market.
ORBCOMM (US): ORBCOMM offers machine-to-machine (M2M) and Internet of Things (IoT) communication solutions that connect businesses to their assets for delivering increased visibility and improving operational efficiency. Cold chain monitoring solutions provided by the company include hardware sensors, such as temperature, humidity, pressure, and fuel sensors. Additionally, ORBCOMM offers a variety of components, such as satellite, cellular connectivity, and cutting-edge hardware, required for developing end-to-end IoT and M2M solutions. ORBCOMM has a diverse customer base, including premier OEMs and solutions providers; channel partners spanning transportation, supply chain, warehousing, and inventory; and industries including heavy equipment, maritime, oil & gas, and government. The key growth strategies adopted by the company mainly includes new product launches and contracts. For instance, in 2019, ORBCOMM launched the new ReeferConnect and VesselConnect platforms, which have been extended to manage the intermodal industry, energy-efficient Controlled Atmosphere technology-based containers.
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Sensitech Inc. (US): Sensitech is one of the leading providers of cold chain visibility solutions, and is a subsidiary of United Technologies (US). The company has presence in Europe, APAC, and South America, with offices located across diverse geographies, including Amsterdam, Bangalore, Hong Kong, Melbourne, Santiago, and Shanghai. The company has over 20 years of experience in offering state-of-the-art products to its customers to facilitate unparalleled visibility of their entire cold chain—from origin to final destination. It supports global monitoring programs and mission-critical applications for more than 12,000 customers annually, including over 7,500 global food suppliers, 150 of the world’s largest foodservice and supermarket establishments, and the world’s leading bio and pharmaceutical manufacturers. The company has been following actionable improvement strategies to identify the potential growth areas of cold chain process improvement, and strengthen its customer base, For instance, the company’s Global Command & Control Centers provide real-time monitoring to ensure the security of precious cargo across the global supply chain—on land, at sea, and in the air.
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