Worldwide Refrigeration Monitoring Market Insights, 2020-2025 - Growing Trend of Online Grocery Shopping, Increasing Requirement of Temperature-Sensitive Drugs

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Research and Markets

DUBLIN, March 18, 2020 /PRNewswire/ -- The "Refrigeration Monitoring Market by Offering (Hardware, Software, and Service), Sensor (Temperature, Defrost, Touch, Liquid Level, Gas Detector, Contact, Motion Detector, Pressure), Application, Industry, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global refrigeration monitoring market was valued at USD 6.8 billion in 2019 and is expected to reach USD 11.1 billion by 2025, at a CAGR of 8.3% from 2020 to 2025.

Key factors fueling the growth of this market include changing food consumption patterns, shifting consumer preference for organic food products, increasing demand for high-quality packed food products, growing demand for temperature-sensitive drugs, high disposable income, and the need to reduce food wastage.

Market for software is projected to grow at highest CAGR during forecast period among offerings

Among the different offerings in this market, software is expected to grow at the highest CAGR from 2020 to 2025. The demand for software is increasing owing to its benefits of real-time monitoring of refrigeration systems, remote control, and predictive maintenance for the [reservation of food & beverages, drugs, vaccines, and chemicals. Refrigeration monitoring is available with software for quality-controlled, interactive notification & alarming, and platform for the Internet of Things (IoT) monitoring.

Market for temperature sensors is projected to grow at highest CAGR during 2020-2025

Among sensors, the temperature sensor is projected to witness the highest CAGR from 2020 to 2025. Temperature is one of the most common parameters that is measured across a wide variety of industries including food & beverages, retail, transport, pharmaceuticals, chemicals, and others. Most frozen and packed food products are required to be stored at a specific temperature requirement in order to ensure that they remain. A temperature sensor is used to adjust the temperature of the refrigerator as required, according to the contents of the refrigerator. The wide applicability of temperature sensors in the pharmaceutical, chemical, food & beverage, hospital, and residential sectors is likely to increase the worldwide demand for these sensors in the forecast period.

Refrigeration monitoring for storage accounted for largest market share in 2019

Among applications, the refrigeration monitoring market for storage is projected to lead from 2020 to 2025. To increase the availability of perishable food products and reduce losses due to wastage, retail companies and transport companies are deploying cold storage facilities to preserve food & beverages. Rapid growth in the retail sector, such as an increase in the number of supermarkets and quick-service restaurants, is expected to increase demand for these commercial refrigerators. The rise in refrigerated capacity of cold storage in APAC is thus expected to accelerate the growth of the refrigeration monitoring market in the storage sector.

Market for food & beverages is projected to grow at highest CAGR during 2020-2025

Among industries, the food & beverages industry is projected to witness the highest CAGR from 2020 to 2025. The quality and durability of food are directly related to the efficient monitoring of the refrigeration unit. With the increase in disposable income of individuals worldwide, the refrigerated foods market is growing at a fast pace. The growth in this industry is attributed to factors such as government regulations for food safety, a rise in demand for packaged food, and the adoption of refrigeration systems by retail, cold storage, and transport companies to minimize losses.

APAC is expected to hold largest share of refrigeration monitoring market in 2025

APAC is expected to hold the largest share of the refrigeration monitoring market in 2025. The growth in APAC is driven by the rising demand for high-quality food products, an increase in online food retail, increased consumer spending on eating out, and government initiatives to improve healthcare in the region. Additionally, advancements in e-commerce, logistics, and warehouse management are contributing to the growth of the market in the APAC region.

APAC is the world's most densely populated region with diverse climatic conditions. This reflects the necessity for efficient cold chain services for the transportation of temperature-sensitive goods from one place to another. Governments in various countries are also attempting to facilitate improvements in the cold chain service industry through regulations and subsidies.

The major players operating in the refrigeration monitoring market are Emerson (US), Danfoss (Denmark), Monnit (US), TE Connectivity (Switzerland), Zebra Technologies (Zebra) (US), Texas Instruments (US), ORBCOMM (US), Controlant (Iceland), Samsara (US), Smart Sense (Digi International) (US), Berlinger (Switzerland), Tempmate (Germany), Tek Troniks (UK), Sensaphone (US), and Swift Sensors (US). Strong distribution networks, wide product portfolios, and strong brand image are contributing to the large market share of these companies in the overall refrigeration monitoring market.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Growth Opportunities in Refrigeration Monitoring Market
4.2 Market, By Offering
4.3 Market, By Country
4.4 Market, By Industry and APAC Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth in Food Retail Sector
5.2.1.2 Stringent Regulatory Reforms Across North America and Europe
5.2.1.3 Increasing Requirement of Temperature-Sensitive Drugs
5.2.1.4 Increasing Focus on Food Wastage Reduction
5.2.2 Restraints
5.2.2.1 High Installation Cost
5.2.3 Opportunities
5.2.3.1 Growing Trend of Online Grocery Shopping
5.2.3.2 Phasing Out of Fluorinated Refrigerants, Which Boosts Retrofit Market
5.2.4 Challenges
5.2.4.1 Complexities Involved in Installation of Refrigeration Monitoring Solutions in Cold Chains
5.3 Value Chain Analysis
5.4 Key Industry Trends

6 Refrigeration Monitoring Market, By Offering
6.1 Introduction
6.2 Hardware
6.2.1 Sensors and Networking Devices to Hold the Largest Share of the Market
6.3 Software
6.3.1 Software Market to Grow at the Highest Rate Due to the Increasing Applications of Analytical and Predictive Tools
6.4 Service
6.4.1 Service Market is Expected to Grow Due to the Need for Regular Maintenance of Refrigeration Units

7 Refrigeration Monitoring Market, By Sensor
7.1 Introduction
7.2 Temperature Sensors
7.2.1 Temperature Sensors are Most Widely Used in Food & Beverages and Pharmaceuticals
7.3 Defrost Sensors
7.3.1 Defrost Sensors Help Save Energy Costs Due to Overheating, Thus Driving the Market
7.4 Touch Sensors
7.4.1 Touch Sensors Market to Grow Rapidly in Cold Storage and Residential Sector
7.5 Liquid Level Sensors
7.5.1 Liquid Level Sensors are Widely Used to Monitor the Level of Refrigerant in Refrigeration Systems
7.6 Gas Detectors
7.6.1 Gas Detectors Find Application in Food & Beverages and Pharmaceuticals to Detect Leakage of Methane, Ammonia, Or Hydrogen
7.7 Contact Sensors
7.7.1 Contact Sensors are Used in Almost All Cold Refrigeration Units to Monitor the Door
7.8 Motion Detectors
7.8.1 Motion Detectors are Widely Used in the Retail Industry
7.9 Pressure Sensors
7.9.1 Pressure Sensors are Used to Detect Refrigerant Leakage and Prevent Overheating of the Compressor
7.1 AC Current Sensors
7.10.1 AC Current Sensors Help Measure Current Fluctuations
7.11 Water Detection Sensors
7.11.1 Water Detection Sensors Such as Water Detection Ropes are Widely Used in Cold Storage Units

8 Refrigeration Monitoring Market, By Application
8.1 Introduction
8.2 Storage
8.2.1 Growth in Cold Storage Capacity in APAC Expected to Drive the Market During the Forecast Period
8.3 Transportation
8.3.1 Refrigeration Monitoring is Important to Minimize Losses Due to Temperature Variations in Transit

9 Refrigeration Monitoring Market, By Industry
9.1 Introduction
9.2 Food & Beverages
9.2.1 Retail
9.2.1.1 Open-Shelf Refrigerators, Closed Cabinets, Display Cabinets, and Walk-In Refrigerators are the Key Units Contributing to the Refrigeration Monitoring Market
9.2.2 Transportation
9.2.2.1 Deployment of Monitoring Solutions in Reefers and Refrigerated Containers Drives the Growth of the Market
9.2.3 Warehouses
9.2.3.1 Increasing Capacity of Cold Storage Warehouses Boosts the Refrigeration Monitoring Market
9.3 Pharmaceuticals
9.3.1 Retail
9.3.1.1 Adoption of Inventory Management Solutions to Monitor Inventory of Temperature-Sensitive Drugs and Vaccines Contributes to Market
9.3.2 Transportation
9.3.2.1 Compliance Regulations to Transfer Temperature-Sensitive Drugs Through Refrigerated Vehicles Fuels Growth of Market
9.3.3 Warehouse
9.3.3.1 Temperature-Controlled Warehouses Play A Key Role in the Storage of Temperature-Sensitive Products
9.4 Chemicals
9.4.1 Refrigeration Monitoring is Essential in Chemicals Industry to Prevent Contamination of Volatile Chemicals
9.5 Hospitals
9.5.1 Refrigeration Monitoring is Essential in Hospitals to Store Specimens Such as Blood Samples, Vaccines, and Specialty Drugs
9.6 Residential
9.6.1 Increase in Spending Power Boosts the Sale of Smart Refrigerators, Contributing to Growth of Market
9.7 Others
9.7.1 Leisure and Hospitality are Key Contributors to the Growth of the Market

10 Refrigeration Monitoring Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 US Expected to Lead Market in North America
10.2.2 Canada
10.2.2.1 Emphasis on Health and Sustainability is Expected to Drive the Market in Canada
10.2.3 Mexico
10.2.3.1 Government Regulations to Increase Demand for Refrigeration Monitoring in Mexico
10.3 Europe
10.3.1 Germany
10.3.1.1 Growing Pharmaceutical Industry and Innovation in the Transportation Sector Boost Demand for Refrigeration Monitoring in Germany
10.3.2 UK
10.3.2.1 Increasing Investment in R&D By Government Drives the Market in the UK
10.3.3 France
10.3.3.1 Strong Export Base of Agro-Food Sector Drives Market Growth in France
10.3.4 Rest of Europe
10.3.4.1 Growth in the Logistics Sector Spain, Russia, and the Netherlands to Drive the Market
10.4 APAC
10.4.1 China
10.4.1.1 Developing Consumer Class With High Purchasing Power Drives Market
10.4.2 Japan
10.4.2.1 Shift Toward Dual-Income Household Increases the Demand for Readymade and Packed Food Products in Japan
10.4.3 India
10.4.3.1 Market to Grow at the Highest Rate in India
10.4.4 Rest of APAC
10.4.4.1 South Korea, Malaysia, and Australia are Key Countries That Boost the Market
10.5 Rest of the World (RoW)
10.5.1 Middle East
10.5.1.1 Demand for International Cuisine and Organic Food Products From the Tourism Sector Boosts the Market in the UAE
10.5.2 Africa
10.5.2.1 Need for the Preservation of Specialty Drugs to Drive Market in Africa
10.5.3 South America
10.5.3.1 Export of Health and Wellness Foods Drives the Market in South America

11 Competitive Landscape
11.1 Overview
11.2 Key Players in Refrigeration Monitoring Market
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Dynamic Differentiators
11.3.3 Innovators
11.3.4 Emerging Companies
11.4 Competitive Benchmarking
11.4.1 Strength of Product Portfolio (25 Companies)
11.4.2 Business Strategy Excellence (25 Companies)
11.5 Competitive Scenario
11.5.1 Product Launches & Developments
11.5.2 Partnerships, Collaborations, and Agreements
11.5.3 Mergers & Acquisitions and Expansions

12 Company Profiles
(Business Overview, Products & Solutions Offered, Recent Developments, SWOT Analysis)
12.1 Introduction
12.2 Key Players
12.2.1 Emerson
12.2.2 Danfoss
12.2.3 TE Connectivity
12.2.4 Texas Instruments
12.2.5 Monnit
12.2.6 Zebra
12.2.7 Orbcomm
12.2.8 Controlant
12.2.9 Samsara
12.2.10 Smartsense (Digi International)
12.3 Other Companies
12.3.1 Berlinger
12.3.2 Tempmate (Imec Messtechnik GmbH)
12.3.3 TEK Troniks
12.3.4 Sensaphone
12.3.5 Swift Sensors
12.3.6 Proges-Plus
12.3.7 Episensor
12.3.8 Cargo Data Corporation
12.3.9 Vaisala
12.3.10 Oceasoft

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