Dublin, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The "Refrigeration Monitoring Industry Trends 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global Refrigeration Monitoring market, with an estimated worth of US$8.4 billion in 2022, is poised for robust expansion, projecting a revised market size of US$15.6 billion by 2030. This growth is anticipated at a commendable compound annual growth rate (CAGR) of 8.1% during the analysis period from 2022 to 2030.
Within this market, the "Hardware" segment is expected to record an 8% CAGR, reaching a market value of US$8.8 billion by the end of the analysis period. Moreover, the "Software" segment is projected to experience notable growth, with an estimated 9% CAGR over the next eight years.
Market Dynamics:
- The global Refrigeration Monitoring market is set for remarkable growth, driven by the Hardware and Software segments.
- The demand for efficient and reliable refrigeration systems across industries is propelling the market's expansion.
- Key geographical markets, including the U.S., China, Japan, Canada, and Germany, are showing strong growth potential.
- Competitive landscape features 66 prominent competitors, including Berlinger, Danfoss, Emerson, and many others.
Regional Insights
In the United States, the Refrigeration Monitoring market is estimated to be valued at approximately $2.3 billion in 2022. The report also spotlights China, the world's second-largest economy, which is forecasted to reach a market size of around $1.8 billion by 2030, with a remarkable CAGR of 10% during the 2022 to 2030 analysis period. Noteworthy growth is expected in other geographic markets, with Japan and Canada projected to grow at 6.2% and 7.4%, respectively, over the 2022-2030 period. Germany is anticipated to exhibit robust growth, with an approximate CAGR of 7.4%.
Key Competitors in the Global Refrigeration Monitoring Market
The market landscape includes a total of 66 featured competitors. Some of the significant players in this arena are:
- Berlinger
- Cargo Data Corporation
- ContRoLAnt
- Danfoss
- Emerson
- Episensor
- Monnit
- Oceasoft
- Orbcomm
- Proges-Plus
- Samsara
- Sensaphone
- Smartsense (Digi International)
- Swift Sensors
- TE Connectivity
- TEK Troniks
- Tempmate (Imec Messtechnik GmbH)
- Texas Instruments
- Vaisala
- Zebra
Notable Highlights
In addition to market data, the report provides insights into recent developments and global economic climate analysis. It also covers global competitiveness and key competitor market shares, showcasing the market presence across multiple geographies, ranging from Strong to Trivial. Additionally, it offers online interactive peer-to-peer collaborative bespoke updates, access to digital archives and a research platform, along with complimentary updates for one year. Furthermore, access to curated YouTube video transcripts featuring market sentiments shared by CEOs, domain experts, and market influencers is available through interviews, podcasts, press statements, and event keynotes.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 558 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $8.4 Billion |
| Forecasted Market Value (USD) by 2030 | $15.6 Billion |
| Compound Annual Growth Rate | 8% |
| Regions Covered | Global |
Key Topics Covered
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- An Introduction to Refrigeration Monitoring
- Global Economic Update
- World Shifts to an Endemic COVID-19 Strategy With Focus on Multilateral Approach to Managing Future Pandemics
- From Pandemic to War & Inflation: "Subdued Outlook for 2023 Despite Signs of Easing Inflationary Conditions"
- Here's How Inflationary Pressures Affect the Economy
- Russia-Ukraine War, the Primary Culprit Responsible for the Hardships
- Although Past Peak in 2023, Efforts to Solve the Inflation Puzzle Should Continue
- Global Economy Faces a Tough Climb Towards Recovery Made Rockier by the War, Persistent Challenges & Slower Decline in Underlying Core Inflation: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 Through 2024
- Here's What's Causing Inflationary Pressures in the Global Market
- Although Declining for the First Time Since the Russia-Ukraine War, Global Oil Prices Still Remains Higher Than 2019 Levels Which In Turn Will Take Inflation Longer Than Expected to Fall: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2024
- Slower Than Anticipated Decline Makes Inflation a Stickier Than Expected Problem to Solve in 2023: Global Inflation Rates (In %) for the Years 2019 through 2024
- COVID-19 Spurs Demand for Cold Chain Monitoring Technologies
- COVID-19 Impact on Refrigeration Monitoring Market
- Global Market Outlook
- Hardware Segment Leads Global Market
- Food Industry & Pharma Sector to Continue Driving Gains
- Developing Regions to Spearhead Future Growth
- Competition
- Refrigeration Monitoring - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- A Glance at Select Refrigeration Monitoring Systems
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Rise in Global Trade & Retail Drives Demand for Transportation Refrigeration Equipment
- Continuous Development of World's Highways to Expand Market Opportunities for Road Freight Transportation
- Growth in Ocean Refrigerated Ocean Freight Creates Parallel Opportunity for Refrigeration Systems
- Development of Cold Chain Warehousing, Distribution & Logistics: Cornerstone for Growth in the Refrigeration Monitoring Market
- Cold Chain Monitoring: Highly Beneficial for Transportation of Perishable Goods
- Construction of Sustainable Cold Chain Facilities Minimizes Food Wastage and Improve Product Quality
- Growing Significance of Farm-to-Fork Trend Elevates Role of Cold Chain Logistics
- Post-Harvest & Supply Chain Losses Create Strong Business Case
- Innovative Technologies Fuel Growth for Cold Chain Monitoring Market
- FSMA Regulations Requires Further Refinements in Cold Chain Monitoring
- Cold Chain Monitoring Market Poised for High Growth
- Rapid Growth in Food Retailing Spurs Need for Refrigeration Monitoring
- Global Food and Grocery Retail Market Size in US$ Billion for the Years 2022, 2024, 2026 and 2028
- Refrigeration Monitoring Systems Critical to Grocery Warehouses
- Food Safety, Also a Major Factor Driving Demand Growth
- Strong Demand for Frozen Foods Further Drives the Value & Importance of Refrigeration Monitoring
- Growing Demand for Frozen Foods Bodes Well for Refrigeration Monitoring Solutions: Global Opportunity for Frozen Foods by Type (In US$ Billion) for Years 2020, 2022, 2024, 2026
- Expanding Online Grocery Market Spurs Need for Refrigeration Monitoring
- Grocery e-Commerce Emerges Into a Powerful Driver of Growth for Refrigeration Monitoring Market: Global Online Grocery Market (In US$ Billion) for Years 2023, 2025, 2027 and 2029
- Rise in Availability of Temperature-Sensitive Drugs & Vaccines Fuels Market Growth
- Global Biopharmaceutical Sales (In US$ Billion) for Years 2023, 2025, 2027 and 2029
- Growing Investments in Biopharma Cold Chain Infrastructure Translates into Opportunities for Refrigeration Monitoring Solutions: Global Spending on Cold Chain Technologies in the Biopharmaceuticals Industry (In US$ Billion) for Years 2023, 2025, 2027, 2029 and 2031
- Vaccines Make Cold Chain Highly Relevant in Pharmaceutical Logistics
- A Review of Monitoring Solutions for Temperature-Sensitive Medical Products
- A Deep Dive into the Market for Refrigerator Temperature Monitoring Systems for Medical Facilities and Labs
- Types of Refrigerator Temperature Monitoring Devices
- Cold Chain Failures Cast the Spotlight on Remote Monitoring to Fix Breaks
- Remote Monitoring Solutions to the Rescue
- Remote Refrigeration Monitoring Solutions for the Foodservice Industry
- Rise in Floriculture Bodes Well for the Market
- As Flowers Become a Lucrative Trade Commodity, New Opportunities Open for Refrigeration Monitoring in the Floral Cold Chain: Global Market for Cut Flowers (In US$ Billion) for Years 2023, 2025, 2027 and 2029
- IoT Technology Makes Perfect Sense for Refrigeration Systems
- Use of IoT in Refrigeration Monitoring Continues to Gain Momentum
- AI Emerges to Revolutionize Refrigerated Storage and Transportation Space
- Why AI is Prudent Choice for Cold Chain Temperature Monitoring
- AI is All Set to Unlock New Narrative for Commercial Refrigeration
- Blockchain Technology for Real-Time Monitoring of Refrigeration Systems
- Blockchain for Effective Transport of Temperature-Sensitive Pharmaceuticals
- Technological Innovations Boost Refrigeration Monitoring Market
- Retrofit Market to Drive Opportunities Amid Phase-out of Fluorinated Refrigerants
- Challenges Confronting Refrigeration Monitoring Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/6egoh
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