Cold Chain Temperature Monitoring Market Worth $19.6 Billion by 2026

The Global Cold Chain Temperature Monitoring Market size is expected to reach $19.6 billion by 2026, rising at a market growth of 20.5% CAGR during the forecast period, according to a new report.

The rise in trade in perishables in developed and developing countries has led to the development of the demand for tracking the cold chain. The advent in connected device technologies such as Radio Frequency Identification (RFID) and the Internet of Things (IoT) is expected to open up opportunities for groundbreaking monitoring solutions. Data loggers are essential for monitoring the food and beverage supply chain in order to increase the efficient management of the logistics chain.

The global market for monitoring the cold chain is being driven with the awareness of high-quality food and rapid urbanization. Storage tests are useful for increasing the shelf life of the medicine.

Monitoring inventories in the pharmaceutical industry and rising drug consumption are two of the key factors of the demand for tracking the cold chain. The strict regulatory environment of the pharmaceutical industry and the successful use of pharmaceuticals and the growth of nursing homes and hospitals are projected to dominate the global market. Growth in health awareness and the push to reduce food waste are projected to lead the global market for monitoring the cold chain during the outlook period.