Refrigeration Monitoring Market

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MarketsandMarkets Research Private Ltd.
Presents
Refrigeration Monitoring Market worth 11.1
billion by 2025
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efrigeration-monitoring-market-131776121.html
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According to the research report, "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"
is projected to grow from USD 7.4 billion in 2020
to USD 11.1 billion by 2025 it is expected to
grow at a CAGR of 8.3 from 2020 to 2025. Key
factors fueling the growth of this market are
changing 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. Browse gtgt 107
Market data tables 49
figures 173 pages and
in-depth TOC on Refrigeration Monitoring
Market https//www.marketsandmarkets.com/Market
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Hardware accounted for largest share of
refrigeration monitoring market in 2019 In 2019,
hardware captured the largest share of the
refrigeration monitoring market. The hardware
segment includes various sensors such as
temperature sensors, defrost sensors, touch
sensors, contact sensors, motion detectors, and
AC current meters used in the refrigeration unit
and networking devices such as routers and
gateways. Sensors play an important role in
detecting analog/digital/electronic signals and
responding to them to optimize operation of the
equipment. Thermal buffers are used to smooth
rapid temperature fluctuations due to compressor
cycling, door opening, loading, or removing
products. The demand for hardware is increasing
owing to the rising use of refrigeration
monitoring systems in cold storage and
transportation systems to preserve perishable
products for longer durations. Market for
temperature sensors is projected to grow at
highest CAGR during forecast period Among
sensors, the market for temperature sensors is
projected to grow at the highest CAGR from 2020
to 2025. Temperature is one of the most common
parameters that is measured across a broad
variety of industries such as food beverages,
retail, transport, pharmaceuticals, chemicals,
and others. The type of sensor used affects the
accuracy of measurement and the optimal
temperature range. Most frozen and packed food
products are required to be stored at a specific
temperature in order to ensure the freshness of
the food product. A temperature sensor is used to
adjust the temperature of the refrigerator as
required according to its contents. The
applicability of temperature sensors in various
industries is likely to increase the worldwide
demand for these sensors in the forecast
period.
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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. APAC is
the worlds 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. The increasing
disposable income and aging population has
resulted in an increase in the healthcare
expenditure in the region. This has led to a rise
in the demand for temperature-sensitive
healthcare products such as vaccines, insulin,
and blood products. The rise in per capita income
and shifting dietary patterns have led to a
rising demand for premium products such as
seafood, frozen meat, dairy, fruits, and
vegetables, etc. These products need to be
regularly monitored for changes in temperature to
ensure freshness and quality. Along with this
shift in trends, the growth of the e-commerce and
online grocery shopping trend has also boosted
the demand for frozen food, contributing to the
growth of the refrigeration monitoring market in
APAC. Emerson (US), Danfoss (Denmark), Monnit
(US), TE Connectivity (Switzerland), Zebra
Technologies (Zebra) (US), Texas Instruments
(US), ORBCOMM (US), Controlant (Iceland), Samsara
(US), and Smart Sense (Digi International) (US)
are the key players in the refrigeration
monitoring market. These players are undertaking
strategies such as product launches, expansions,
agreements, partnerships, collaborations, and
acquisitions to increase their market share.
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