Global Cold Chain Tracking and Monitoring Market – by Component, Solution, Application, Region – Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2017-2023)
Cold Chain Tracking and Monitoring refers to maintaining a given temperature range in Cold Storages as the quality of food stock is highly dependent on temperature consistency. A series of sensors and controlling devices are used to monitor it.
The Global Cold Chain Tracking and Monitoring Market was worth 163 Billion USD in 2017 and it is estimated to grow to 305.2 Billion USD by 2023 with a CAGR of 11.02% between 2017 and 2023.
Growth by Region
The North America region is expected to dominate the Global Cold Chain Tracking and Monitoring Market followed by Europe, Asia-Pacific
Drivers Vs. Constraints
- The growing organized retail, increasing refrigerated warehouses, changing government policies and regulations, and growth in pharmaceutical sector are the reasons for the growth of Global Cold Chain Tracking and Monitoring Market.
- The lack of standardization and high operational cost are the factors which restrain this market growth.
Industry Structure and Updates
In 2016 Thermo King has launched SLXi single- and multi-temperature trailer which is a new Hybrid Drive Trailer and based on Frigoblock inverter technology of new generation.