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Cold Chain Telematics Market Size

Report ID: GMI11957
Published Date: Oct 2024
Report Format: PDF

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Cold Chain Telematics Market Size

The global cold chain telematics market size was valued at USD 1.8 billion in 2023 and is projected to grow at a CAGR of 13.03% between 2024 and 2032, due the increasing demand for real-time monitoring and visibility of perishable goods during transportation.

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As industries like pharmaceuticals, food, and agriculture face stricter regulatory requirements for maintaining product quality, businesses are turning to telematics solutions to ensure compliance with temperature-sensitive shipments. These systems enable companies to monitor temperature, humidity, and location in real time, reducing the risk of spoilage and losses. Additionally, the growth of e-commerce and global trade has amplified the need for efficient cold chain management, further boosting telematics adoption to enhance operational efficiency and customer satisfaction.

Cold Chain Telematics Market Report Attributes
Report Attribute	Details
Base Year:	2023
Cold Chain Telematics Market Size in 2023:	USD 1.8 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	13.03%
2032 Value Projection:	USD 5.4 Billion
Historical Data for:	2021 - 2023
No. of Pages:	160
Tables, Charts & Figures:	170
Segments covered:	Component, End use
Growth Drivers:	Increasing demand for real-time monitoring of temperature-sensitive goods Stricter regulatory requirements for quality and compliance Growth of e-commerce and global trade in perishable goods Focus on reducing operational costs and enhancing supply chain efficiency
Pitfalls & Challenges:	High initial costs of implementing telematics solutions Limited network coverage in remote areas affecting real-time tracking

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For instance, according to data from CWI logistics, U.S. online grocery spending increased by over 17% in 2023, reflecting in surging demand for cold chain logistics and the need for quality refrigeration and monitoring solutions to ensure good quality food being delivered.

Another key driver of the cold chain telematics market is the growing focus on reducing operational costs and improving supply chain efficiency. Telematics solutions help companies optimize routes, monitor fuel consumption, and predict maintenance needs, leading to significant cost savings. By minimizing delays and ensuring timely deliveries, these technologies enhance overall logistics efficiency. Additionally, the rise in fuel prices and the need for sustainable practices are pushing companies to adopt telematics for better resource management and reduced environmental impact.

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The market size of cold chain telematics reached USD 1.8 billion in 2023 and is set to grow at a 13.03% CAGR from 2024 to 2032, driven by the increasing demand for real-time monitoring and visibility of perishable goods during transportation.

The hardware segment accounted for over 80% of the market share in 2023 and is expected to exceed USD 4 billion by 2032, due to its essential role in ensuring effective monitoring and control of temperature-sensitive goods.

The food & beverage segment held over 70% of the market share in 2023, driven by the critical need to maintain product quality and safety throughout the supply chain.

The U.S. market accounted for 75% of the revenue share in 2023 and is expected to exceed USD 1 billion by 2032, attributed to its advanced logistics infrastructure and strong emphasis on food safety and regulatory compliance.

Major players in the industry include Ametek, Geotab, ORBCOMM, Samsara, Sensitech, Spireon, Teletrac Navman, Thermo King (Trane), Trimble, and Verizon.