SAN FRANCISCO, Aug. 17, 2023 /PRNewswire/ — The global cold chain monitoring market size is expected to reach USD 119.74 billion by 2030, growing at a CAGR of 22.5% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. The main factors driving the market’s growth are the increasing demand for pharmaceutical and other temperature-sensitive products worldwide, stringent regulations regarding the storage and shipment of pharmaceutical products, and increasing private and government investments in the cold storage warehouse industry.
Key Industry Insights & Findings from the report:
- Growing technological advancements are expected to boost cold chain monitoring solutions innovation. The growing trade of pharmaceutical and temperature-sensitive products globally is anticipated to spur industry growth over the forecast period
- In terms of component, the software segment is projected to grow at the fastest CAGR of 23.7% from 2023 to 2030. The need to analyze data collected from hardware devices to improve the overall cold chain operations is driving the growth of the software segment
- Based on application, the food & beverages segment dominated the market in 2022 with a revenue share of 78.8% and is projected to grow at a CAGR of 20.6% from 2023 to 2030. The growing demand for processed food and changes in consumer preferences is driving the demand for cold chain monitoring solutions across the food & beverages sector
Read full market research report, “Cold Chain Monitoring Market Size, Share & Trends Analysis Report By Component (Hardware, Software), By Application (Food & Beverages, Pharmaceuticals), By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.
Cold Chain Monitoring Market Growth & Trends
The increasing demand for vegetables, meat, fruits, and dairy products globally is projected to drive the market’s growth. Processed food items require continuous temperature monitoring during transportation and storage to prevent contamination and maintain the quality of the products. The cold chain service providers adopt the monitoring solutions as it delivers benefits such as safety, cost efficiencies, real-time tracking, and lower downtime, which help them in achieving their revenue goals. The technological advancements in connected devices technologies such as the Internet of Things (IoT), radio frequency identification (RFID), intelligent sensors, and others are also expected to bolster the market’s growth.
The North America region is estimated to maintain the largest market share of revenue over the forecast period owing to the factors such as well-developed transportation and distribution systems, high technology adoption rate, and increasing demand for processed food products. In North America, the U.S. market is expected to hold the largest revenue share from 2023 to 2030, owing to the presence of many cold chain monitoring solution providers and the ever-increasing demand for pharmaceutical and processed food products. The Asia Pacific region is projected to witness a high growth rate over the forecast period due to the rising population, rapid industrialization, and advancements in transportation & warehousing technologies in emerging economies such as India and China. The key players in the market are adopting different development strategies, such as mergers and acquisitions, to expand their presence and market share in the cold chain monitoring industry.
Cold Chain Monitoring Market Report Scope
Market size value in 2023
USD 28.89 billion
Revenue forecast in 2030
USD 119.74 billion
CAGR of 22.5% from 2023 to 2030
Base year for estimation
2017 – 2021
2023 – 2030
Cold Chain Monitoring Market Segmentation
Grand View Research has segmented the global cold chain monitoring market based on component, application, and region:
Cold Chain Monitoring Market – Component Outlook (Revenue, USD Million, 2017 – 2030)
- RFID Devices
- Networking Devices
Cold Chain Monitoring Market – Application Outlook (Revenue, USD Million, 2017 – 2030)
- Food & Beverages
- Fruits & Vegetables
- Fruit Pulp & Concentrates
- Dairy Products
- Ice cream
- Fish, Meat, and Seafood
- Processed Food
- Bakery & Confectionary
- Blood Banking
Cold Chain Monitoring Market – Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Kingdom of Saudi Arabia (KSA)
- South Africa
List of Key Players in the Cold Chain Monitoring Market
- ELPRO-BUCHS AG
- Berlinger & Co. AG
- Savi Technology
- Geotab Inc.
- Monnit Corporation
- Zest Labs, Inc.
- Infratab, Inc.
Check out more market research studies published by Grand View Research:
- Cold Chain Market – The global cold chain market size is expected to reach USD 892.3 billion by 2030, growing at a CAGR of 18.6% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. The increasing demand for quality foods, rising Information Technology (IT) spending in cold storage logistics, and growing investment in developing cold chains drive market growth. Moreover, increasing e-commerce sales, accelerated by the COVID-19 pandemic, drive the need for cold chain solutions.
- Pharmaceutical Logistics Market – The global pharmaceutical logistics market size is estimated to reach USD 170.17 billion by 2030, registering a CAGR of 9.2% from 2023 to 2030, according to a new study by Grand View Research, Inc. The market growth is primarily driven by the rising demand for a variety of drugs as a result of increasing cases of chronic and lifestyle-related diseases. The market is expected to witness a high growth rate in cold-chain and non-cold chain pharmaceutical logistics owing to the impact of COVID-19 across the globe. During this pandemic situation, the government and officials across countries are primarily focusing on preventive measures and the treatment of patients. The import and export of various medicines to treat coronavirus are increasing across all countries, including U.S. and China.
- Secure Logistics Market – The global secure logistics market size is anticipated to reach USD 153.44 billion by 2030, registering a CAGR of 8.9% over the forecast period, according to a new report by Grand View Research, Inc. ATMs play a vital role in maintaining the core banking touchpoint with consumers. Initially, ATMs were introduced to reduce congestion in branches. However, the types of services provided at ATMs have expanded significantly. The increasing trend of introducing cash recycling ATMs is likely to accelerate the ATM market growth. Economic size and population density have a positive impact on the financial sector. The densely populated countries have a higher ATM penetration and higher geographic branch.
Browse through Grand View Research’s Automotive & Transportation Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Webb Unveils Tangle Network Testnet, Pioneering the Future of Private, Decentralized Applications
NEW YORK, Sept. 29, 2023 /PRNewswire/ — Today, Webb announced the launch of its much-anticipated Tangle Network Testnet, setting the stage for a new era of private and decentralized applications.
Led by founder Drew Stone, Webb is the premier cross-chain zero-knowledge messaging layer, committed to revolutionizing blockchain privacy. Backed by industry giants like Polychain, Lemniscap, and Commonwealth Labs, Webb introduces a suite of tools aimed at advancing zero-knowledge (ZK) and multi-party computation (MPC) applications across multiple blockchains.
The Challenge and Our Solution
Blockchain networks today face significant hurdles: limited interoperability, scaling difficulties, centralized control, and privacy concerns. Webb’s Tangle Network, built on the powerful Substrate framework, is designed to tackle these challenges by offering a next-generation blockchain platform.
Why Tangle Network?
Our vision is to make it easier for developers to create secure, private zero-knowledge (ZK) and multi-party computation (MPC)-based decentralized applications. Tangle Network simplifies:
- Proof Generation: Delegate computational tasks to our validators.
- Trusted Setups: Tangle Network manages complex ceremonies for you.
- Secure Signing: Utilize our threshold signing for cross-chain operations.
By removing these barriers, we massively improve the time to launch for ZK and MPC-based decentralized applications.
- Unparalleled speed, security, and scalability via Substrate.
- Decentralized control through Distributed Key Generation (DKG).
- Advanced protocols for zero-knowledge applications.
- Cross-chain compatibility with IBC and XCM.
- Easy migration of existing apps through Ethereum Virtual Machine (EVM) support.
- Smooth, forkless upgrades.
The Testnet launch kicks off with an in-depth whitepaper, followed by a series of engagement events during the testnet phase. Our mainnet is scheduled for a Q1/Q2 2024 launch, featuring hackathons, workshops, and a targeted grant program to accelerate the adoption of privacy-focused applications.
Testnet Quick Links
- Developers: Start building on Tangle today. Learn More
- Validators and Relayers: Help secure and maintain the network. Learn More
- Join the Community: Follow us on Twitter or join our Discord.
For media inquiries, partnerships, or more information, email us at [email protected]
ChainUp Celebrates 6th Anniversary, Charting Blockchain Innovations beyond Digital Assets
SINGAPORE, Sept. 29, 2023 /PRNewswire/ — ChainUp, a Singapore-based trailblazer and global leader in the blockchain industry, marked its sixth anniversary celebration with more than 500 business partners at Ce La Vi Singapore. During the celebration, ChainUp Founder and CEO, Sailor Zhong reflected on the journey, “Six years in the blockchain industry showcases our resilience, innovation, and forward-looking approach. As we look to the future, we are committed to shaping a digital asset environment that is reliable, transparent, and unparalleled. ChainUp aims to champion blockchain solutions beyond the applications of digital assets and bridge the gap between digital asset markets and traditional finance (TradFi) to increase effectiveness and market efficiency.”
The DEX Renaissance
As decentralized finance (DeFi) comes into prominence and focused on returning control to users, one of the sectors impacted by DeFi are the exchanges where cryptocurrencies are traded. Data from CoinMarketCap reveals that trading volumes on Decentralized exchanges (DEX) reached $1.2 trillion in 2022, indicating a 340% YoY growth. However, factors such as poor user experience impeded the rate of adoption of DEX. Recognizing this trend, ChainUp has updated its white-labeled DEX solution, incorporating advanced features, strengthening its security, improving its liquidity and aims to provide a decentralized trading experience that is on par with commonly-used centralized exchanges (CEX).
Bridging TradFi and Digital Assets Market
The traditional financial sector has been progressing very cautiously on digital assets. As more institutions lean into RWA tokenization, they unlock unparalleled liquidity in a borderless trading environment. Amidst this evolution, ChainUp’s RWA solutions emerge as an industry pioneer, offering robust tokenization protocols, seamless integration, and enhanced security, bridging the gap between TradFi and the digital future with unmatched finesse.
Minimizing Risk and Maximizing Security
ChainUp’s MPC Wallet revolutionizes crypto security by integrating MPC technology with advanced hardware isolation, ensuring utmost safety and encryption on data. The wallet offers dynamic key-refreshing mechanisms, chain-agnostic compatibility, and eliminates single-point vulnerabilities. With efficient multi-address management and 24/7 expert support, users enjoy full asset control, scalability, and cost-efficiency, all under one roof.
Compliance: The Guiding Principle
Navigating global regulations in the blockchain sector can be complex. ChainUp’s KYT subsidiary, Trustformer, offers peace of mind for enterprises tackling compliance-related challenges. ChainUp’s advanced solutions in Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) show their commitment to a more secure blockchain environment.
For detailed insights into ChainUp’s innovative solutions, please visit: https://www.chainup.com?channel=pr&type=article
Headquartered in Singapore, ChainUp is a global leading end-to-end blockchain technology solutions provider covering infrastructure development and ecosystem support. Built on the mission to empower businesses through blockchain technology, ChainUp’s innovative and all-around compliant solutions include digital asset exchange, KYT, NFT trading, wallet, liquidity, Web3.0 infrastructure, digital asset custody, security token offerings and more. Established in 2017, ChainUp has offices around the world, serving more than 1,000 clients in 30 countries, reaching over 60 million end-users.
CONTACT: Jacelynn Pang, [email protected]
BingX Collaborates with WunderTrading to Elevate Crypto Automated Trading
SINGAPORE, Sept. 27, 2023 /PRNewswire/ — BingX, a leading global cryptocurrency exchange, is thrilled to announce its integration with WunderTrading, a cutting-edge platform that allows users to trade and invest crypto seamlessly using automated trading bots. This strategic partnership is aimed at enhancing the automated trading experience for BingX users and introducing a new level of convenience and innovation.
WunderTrading is a cloud-based cryptocurrency trading platform that simplifies cryptocurrency trading experience for beginners. Users can easily copy strategies of renowned traders or create their own. The platform offers an advanced trading terminal and automated bots integrated with TradingView, allowing users to manage portfolios efficiently within a single app. WunderTrading stands out by consolidating trading tools, enhancing user experience, and introducing unique features like the Spread-trading Terminal.
The integration of BingX and WunderTrading offers BingX users a significant advantage. With access to TradingView integration and the innovative Spread-trading Terminal, users can automate their trading strategies and diversify their portfolios with minimal risk. The Spread-trading terminal enables BingX users to choose assets for constructing a spread and will execute buy and sell orders simultaneously for the selected pairs. This integration empowers BingX users to create and fine-tune crypto trading bots swiftly, providing a unique opportunity to optimize their trading while minimizing market volatility risks.
Megan Nyvold, Head of Branding at BingX, expressed her excitement about the collaboration, saying, “BingX is always striving to offer our users the most innovative and user-friendly tools to navigate the crypto market with efficiency and greater ease. Our partnership with WunderTrading is a significant step forward. With this integration, we empower our users to trade smarter, diversify their portfolios, and navigate the crypto market with newfound confidence. We’re excited to see our users leverage the power of automated trading through WunderTrading and make the most of this enhanced trading experience.”
As BingX and WunderTrading join forces, users can look forward to an enhanced trading journey filled with innovative tools and features designed to optimize their trading strategies.
BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way. Please visit https://bingx.com to learn about BingX.
- Webb Unveils Tangle Network Testnet, Pioneering the Future of Private, Decentralized Applications
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