Cloud-based Cold Chain Management Market Size, Share & Trends Analysis Report By Component (Hardware, Software), By Application (Food & Beverages, Pharmaceuticals), By Region, And Segment Forecasts, 2024 - 2030

Market Size & Trends

The global cloud-based cold chain management market size was estimated at USD 11,127.4 million in 2023 and is projected to grow at a CAGR of 26.1% from 2024 to 2030. The growing adoption of cloud-based cold chain management systems is due to the increasing regulatory requirements in industries such as pharmaceuticals, food, and chemicals are necessitate the use of advanced systems to ensure compliance with safety and quality standards. These solutions provide real-time monitoring and reporting capabilities, which are critical for maintaining regulatory adherence across the supply chain.

Additionally, cost efficiency and scalability are also significant drivers. Cloud-based solutions offer a more flexible and cost-effective alternative to traditional on-premises systems, making them suitable for companies of varying sizes. This is particularly relevant as the expansion of e-commerce and online retail continues to increase demand for scalable logistics solutions. Moreover, integration of IoT devices and sensors has improved the ability to track products in real time, and cloud solutions make this data easily accessible and manageable. This enables businesses to address potential disruptions quickly and efficiently.

AI and machine learning are increasingly being applied to cold chain management systems to enhance predictive capabilities. By analyzing historical data and current conditions, AI algorithms can forecast potential risks, such as temperature fluctuations or equipment failures. Predictive analytics allow businesses to take preventive actions before issues arise, reducing spoilage and improving operational efficiency. Additionally, blockchain technology is being adopted to improve traceability and transparency in cold chain logistics. By using a distributed ledger, all parties involved in the supply chain can access tamper-proof records of product conditions and movements. This improves accountability and can help ensure compliance with regulations. Blockchain also strengthens trust between supply chain partners by providing a secure way to verify the integrity of temperature-sensitive goods.

However, the cloud-based cold chain management market faces several significant restraints that could impede its widespread adoption and growth. One major challenge is the high initial implementation costs associated with these systems. Organizations often require substantial investments in technology, infrastructure, and training to integrate cloud-based solutions effectively. For smaller companies, these costs can be prohibitive, leading to slower adoption rates, particularly in industries with tighter budgets.

Component Insights

The hardware segment held the largest market share of 71.4% in 2023. Hardware components, such as temperature and humidity sensors, RFID tags, and GPS trackers, are fundamental to monitoring and ensuring the integrity of cold chain logistics. Temperature and humidity sensors provide real-time data on the storage and transit conditions of perishable goods, ensuring that they remain within specified parameters to prevent spoilage. RFID tags facilitate efficient tracking and inventory management, allowing businesses to monitor the location and status of products in transit.

The software segment registered the fastest CAGR of 27.7% over the forecast period. As businesses increasingly adopt cloud-based platforms, software solutions play a crucial role in aggregating and analyzing data collected from various hardware components. These software systems enable real-time monitoring of environmental conditions, alerting stakeholders to any deviations that may jeopardize product integrity. The ability to visualize data through user-friendly dashboards and generating actionable insights empowers organizations to make informed decisions swiftly, thereby minimizing risks and ensuring compliance with regulatory standards.

Application Insights

The food & beverages segment dominated the market with a revenue share of 72.5% in 2023. The food & beverages industry constantly demands for fresh and perishable products. Cloud-based cold chain management systems help ensure the proper temperature control and monitoring needed to maintain product quality and safety during transportation and storage. Additionally, the rise of e-commerce in the food sector has intensified the need for efficient cold chain solutions. Consumers increasingly expect the timely and safe delivery of perishable goods, driving investments in cold chain management technologies.

The pharmaceuticals segment is anticipated to register the highest CAGR of 27.4% over the forecast period in the target market. Regulatory compliance is a critical factor influencing growth in this segment. The pharmaceutical industry is subject to rigorous regulations regarding the storage and transportation of drugs. Cloud-based cold chain management systems aid companies in meeting these compliance requirements by providing real-time monitoring, traceability, and comprehensive documentation of temperature conditions. This capability is crucial for maintaining product integrity and ensuring patient safety.

Regional Insights

North America accounted for the largest revenue share of 34.2% in 2023 and is expected to continue its dominance over the forecast period. The region has a well-established healthcare infrastructure and a robust pharmaceutical sector, which drives the demand for advanced cloud-based cold chain management solutions. The presence of numerous biopharmaceutical companies and research institutions in North America has created a need for reliable logistics systems that can ensure the integrity of temperature-sensitive products. As the biopharmaceutical industry continues to grow, particularly with the increasing development of vaccines and biologics, leading to the rise of demand for cloud-based cold chain solutions.

U.S. Cloud-based Cold Chain Management Market Trends

The U.S. cloud-based cold chain management market is experiencing robust growth, driven by several key factors that highlight its significance within the broader cold chain logistics industry. The U.S. is home to stringent regulations governing the storage and transportation of pharmaceuticals and food products. Cloud-based cold chain management systems provide companies with the necessary tools to comply with these regulations. Features such as real-time data logging, traceability, and automated reporting help ensure that products are handled according to industry standards.

Asia Pacific Cloud-based Cold Chain Management Market Trends

Countries in the Asia Pacific region are increasingly adopting advanced technologies, including IoT and data analytics. This technological shift enhances the capabilities of cloud-based cold chain monitoring systems, making them more effective and attractive to businesses looking to improve operational efficiency. Additionally, Asia Pacific is experiencing rapid urbanization, with a growing demands among the people for fresh and perishable products. This trend necessitates efficient cold chain management solutions to ensure the quality and safety of food, pharmaceuticals, and other temperature-sensitive goods throughout the supply chain.

Europe Cloud-based Cold Chain Management Market Trends

The increasing popularity of e-commerce, especially in the food and beverage sector, is reshaping cold chain logistics in Europe. Consumers are increasingly opting for online grocery shopping, creating a demand for efficient cold chain solutions to ensure the safe delivery of perishable items. Cloud-based cold chain management systems enable retailers to optimize their logistics and maintain product quality during transportation. Additionally, European countries have stringent regulations regarding food safety and pharmaceutical product quality. Regulations such as the EU’s Falsified Medicines Directive and General Food Law necessitate effective monitoring solutions to ensure compliance and maintain high standards throughout the supply chain.

Key Cloud-based Cold Chain Management Company Insights

Some of the key companies operating in the cloud-based cold chain management market include Carrier (Sensitech), among others.

• Carrier (Sensitech) is a prominent player in cloud-based cold chain management logistics, specializing in temperature monitoring and data logging technologies. Sensitech is a subsidiary of Carrier Global Corporation, a leading global provider of heating, ventilation, air conditioning, refrigeration, and fire and security solutions. It offers a range of temperature monitoring solutions designed to ensure the integrity of temperature-sensitive products throughout the cold chain. Their products include data loggers, wireless monitoring systems, and integrated software platforms that provide real-time tracking and data management.

Accent Advanced Systems, SLU and Velvetech, LLC are some of the emerging market companies in the target market.

• Accent Advanced Systems, SLU is a technology company specializing in advanced solutions for real-time monitoring in various industries, including cold chain logistics. Their offerings include advanced monitoring systems that track temperature and humidity, utilizing Internet of Things (IoT) technology for seamless data collection and transmission. These solutions provide stakeholders with real-time access to critical environmental data and alerts, supported by analytics software that helps optimize logistics operations and ensure compliance with regulatory standards.

Recent Developments

• In August 2024, Carrier (Sensitech) announced that it had completed the acquisition of Berlinger & Co. AG, a provider of temperature monitoring solutions for the cold chain logistics industry. This strategic acquisition aims to enhance Sensitech's product offerings and strengthen its position in the pharmaceutical and food sectors. This move aligns with Sensitech's commitment to delivering comprehensive solutions that meet the evolving demands of customers in global supply chains.

• In June 2024, ELPRO-BUCHS AG and Cold Chain Technologies announced a partnership to enhance cold chain monitoring solutions. This collaboration aims to integrate ELPRO's advanced temperature monitoring technology with Cold Chain Technologies' logistics expertise. Together, they will provide comprehensive solutions for temperature-sensitive products, ensuring compliance with regulatory standards and maintaining product integrity throughout the supply chain.

Cloud-based Cold Chain Management Market Report Scope

Global Cloud-based Cold Chain Management Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global cloud-based cold chain management market report based on component, application, and region. 

• Component Outlook (Revenue, USD Million, 2017 - 2030)

  • Hardware

    • Sensors

    • RFID Devices

    • Telematics

    • Networking Devices

    • Others

  • Software

    • On-premises

    • Cloud

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Food & Beverages

  • Pharmaceuticals

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

  • Middle East and Africa (MEA)

    • KSA

    • UAE

    • South Africa