Global IT spending in cold chain logistics market will reach 9947.54 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/8

The global IT spending in cold chain logistics market is growing at a rapid pace due to rising wastage of vaccinations, sensitive food, and other products due to soaring temperatures. Volatility of temperatures has led to the demand for an effective management system for temperature-sensitive products. Majority of the cold chain storage lacks adequate temperature management systems and do not maintain the desired temperature levels according to the regulatory guidelines. This led to increasing the wastage temperature in the vaccines and others drugs, which is a serious concern for healthcare facilities.

The food wastage also causes serious damage to the environment because of inadequate waste disposal methods. This has pushed the manufacturers to invest in the latest technologies such as IoT (Internet of Things), smart refrigerators, and cloud computing. In addition, perishable logistics are also specially designed to manage the temperature-sensitive products for measuring the fluctuations in climatic conditions.

Moreover, the sensor technologies are broadly being implemented in the supply chain management services to monitor and track the fluctuations in temperature. These technologies are being adopted by supply chain organizations across the globe. The cold chain technologies are spending in smart sensor technologies to construct intelligent solutions. Therefore, the growing adoption of sensor technologies has been increasing significantly and will boost the market in the coming years.

According to the report, the global IT spending in cold chain logistics market will touch the valuation at US$9947.54 mn by 2025 from US$4475.15 mn in 2018. The market is likely to register a CAGR of 12.18% throughout the forecast period.

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