Refrigeration Monitoring - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Refrigeration Monitoring Market is accounted for $6.70 billion in 2019 and is expected to reach $14.79 billion by 2027 growing at a CAGR of 10.4% during the forecast period. Some of the key factors propelling the market growth include shifting consumer preferences for organic food products, changing food consumption patterns, increasing demand for high-quality packed food products, growing demand for temperature-sensitive drugs, high disposable income, and the need to reduce food wastage. However, high installation cost is likely to hamper the market.
The refrigeration monitoring system monitors your refrigeration system automatically and alerts you the moment there's a problem. It is mostly used in sectors like Food and Beverages, Hospitals, Residential, etc. The demand for hardware is growing owing to the rising use of refrigeration monitoring systems in cold storage and transportation systems to preserve perishable products for longer durations. These systems can be used in refrigerators, freezers, walk-ins, grab & go coolers and more other systems.
By end user, food & beverages segment is anticipated to grow at the significant rate during the forecast period, due 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. 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 rapid pace.
On the basis of geography, the growth in APAC is driven by the rising demand for high-quality food products, 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 APAC market. Governments in various countries are attempting to facilitate improvements in the cold chain service industry through regulations and subsidies.
Some of the key players in Refrigeration Monitoring Market include Emerson Electric Co., Monnit Corporation, ORBCOMM, ContRoLAnt, Zebra Technologies, TEK Troniks, Sensaphone, Danfoss, TE Connectivity, Texas Instruments, Cargo Data Corporation, Dover Corp, Samsara, Smartsense (Digi International), Berlinger, Tempmate (Imec Messtechnik GmbH), Daikin Industries, Johnson Control, Carrier Commercial Refrigeration, and Haier Group.
• Touch Sensors
• Liquid Level Sensors
• Pressure Sensors
• AC Current Meters
• Temperature Sensors
• Defrost Sensors
• Contact Sensors
• Motion Detectors
• Gas Detectors
• Water Detection Sensors
• Refrigerators & Freezers
• Measurement Device
• Temperature Monitoring
Sales Channels Covered:
• Direct Sales
• Distribution Sales
End Users Covered:
• Food & Beverages
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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