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Berg Insight, the world’s leading IoT market research provider, today released a new market report covering the cold chain tracking market.
Shipments of remote tracking systems with cellular or satellite communications capabilities for refrigerated cargo carrying units, including trailers, intermodal containers, rail freight wagons and ULDs, reached 765,000 units worldwide in 2023. Growing at a compound annual growth rate (CAGR) of 8.7 percent, shipments are expected to reach close to 1.2 million units in 2028. During the same period, the installed base of active remote tracking systems for refrigerated cargo carrying units is forecasted to grow at a CAGR of 10.8 percent from 2.7 million units at the end of 2023 to 4.5 million units by 2028.
The number of active tracking devices and real-time data loggers in use for general cargo applications, including insulated cargo boxes and pallet shippers, reached close to 2.2 million units at the end of 2023. The market segment is set for rapid growth in the coming years as prices are expected to decrease and smart labels and other devices with a very small footprint are being introduced.
The number of active devices in use are forecasted to reach 6.9 million units at the end of 2028. Yearly device shipments in this category will grow from 7.6 million units in 2023 to reach 27.4 million units in 2028. The segment includes both multi-use trackers and single-use disposable trackers.
The cold chain tracking and monitoring market is served by a wide range of players. ORBCOMM has a large installed base of connected vehicles and assets. The company is the number one player in the refrigerated trailer and container tracking segment with over 0.5 million units installed. Maersk has rolled out a system for real-time tracking of its entire fleet of around 380,000 refrigerated containers, making it the largest refrigerated container tracking project worldwide. The container tracking specialist Globe Tracker is the third largest provider of tracking solutions for refrigerated containers. The company has equipped the major shipping company Hapag-Lloyd’s entire reefer container fleet with tracking units.
Additional leading players in the refrigerated intermodal container tracking segment include Envotech, Cooltrax and Copeland (formerly Emerson Climate Technologies). Leading refrigerated trailer tracking players moreover include Spireon, Schmitz Cargobull, CalAmp, EROAD, Krone, Samsara, Motive and Idem Telematics. Intermodal Telematics and SAVVY Telematics Systems are leading vendors of temperature-controlled tank container tracking solutions.
“Several recent events that have been disruptive for global supply chains accentuate the need for greater visibility into the supply chain”, says Martin Apelgren, Principal Analyst at Berg Insight.
Tracking solutions can provide real-time data on the cargo location and condition. The data can be valuable for several stakeholders in the supply chain and used to optimise logistics processes, improve customer service and settle insurance claims faster. Goods transported in the cold chain are typically of higher value and more sensitive to unplanned stops and temperature deviations. A single load of cargo transported in the cold chain can be worth millions of euros.
Mr. Apelgren concludes:
“Transport companies and fleet owners cannot afford to not implement tracking solutions, as shippers are increasingly expecting to have access to real-time cargo data.”
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