The number of active IoT devices for cold chain tracking reached 4.1 million worldwide in 2021, according to Berg Insight. The calculation measures refrigerated cargo and cargo carrying units, including trailers, intermodal containers, rail freight wagons, air cargo containers, cargo boxes and pallets. The figure will rise at a compound annual rate (CAGR) of 17.4 percent, to reach 9.2 million by 2026, it said.
The total market value for cold chain tracking solutions reached €720 million in 2021, reckons Berg Insight. It will reach €1.2 billion in 2026, it forecasts, with CAGR pegged at 11.4 percent in the period. A new report by the firm (available here) says tracking devices for general refrigerated cargo applications is the largest market for cold-chain solutions today, followed by refrigerated intermodal containers and trailers.
Tracking solutions for refrigerated rail freight wagons and air cargo containers are “considerably smaller”, it notes. In the report, Berg Insight profiles the biggest players in the space; these include Danish shipping company Maersk, which has rolled out a system for real-time tracking of its entire fleet of 385,000 refrigerated containers – “making it the largest refrigerated cargo container tracking project worldwide”.
Besides, it rates US industrial IoT company ORBCOMM as the second largest player in terms of the number of connected units with an estimated 380,000 units installed on both refrigerated trailers and reefer containers, and Denmark-based tracking specialist Globe Tracker as the third largest provider, with a major project with shipping company Hapag-Lloyd to equip around 140,000 reefer containers with tracking units.
Additional leading players in the refrigerated intermodal container and trailer tracking segment include Envotech, Cooltrax, Emerson, Spireon, Schmitz Cargobull, CalAmp and Idem Telematics. DeltaTrak, Sensitech (part of Carrier), Controlant, Tive and Frigga (part of Dewav Electronic Technology) are leading players in the refrigerated cargo tracking segment, each with more than 100,000 active trackers at any given time. Others in the segment include OnAsset Intelligence, Roambee, Adapt Ideations, Tempmate, Escavox, 7PSolutions, and Intelyt.
Martin Backman, senior analyst at Berg Insight, commented: “The logistics industry is currently undergoing a major transformation. Accelerated by the supply chain disruptions following the Covid-19 pandemic, the industry is now investing heavily in digital solutions that will increase visibility and security in the supply chain. Cold chain tracking solutions provide significant value for shippers and logistics providers by providing real-time data on the location and condition of temperature-sensitive cargo in-transit.
He added: “The lack of up-to-date and relevant shipment data is one of the main reasons that lead to spoiled cargo. This can potentially lead to major losses as products transported in the cold chain are typically of high value. 2021 was a stellar year for the cold chain tracking industry and the future looks bright as the industry is now ready for investing in the technology.”
