The refrigeration monitoring market 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 include changing food 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.
Key players in the refrigeration monitoring market include companies operating at different stages of the value chain. These companies are Emerson (US), Danfoss (Denmark), Monnit (US), TE Connectivity (Switzerland), Zebra Technologies (Zebra) (US), Texas Instruments (US), ORBCOMM (US), Controlant (Iceland), Samsara (US), Smart Sense (Digi International) (US), Berlinger (Switzerland), Tempmate (Germany), Tek Troniks (UK), Sensaphone (US), Swift Sensors (US), Proges-plus (France), EpiSensor (Ireland), Cargo Data Corporation (US), Vaisala (Finland), and Oceasoft (France). These companies focus on adopting both organic and inorganic growth strategies, such as product launches, expansions, agreements, partnerships, collaborations, and acquisitions to strengthen their position in the market.
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Top Players in Refrigeration Monitoring Market:
Emerson (US) was one of the leading companies in the refrigeration monitoring market in 2019 with a focus on the refrigeration monitoring sensors. The refrigeration monitoring solutions of the company are offered under its Climate Technology division in the Commercial & Residential Solution business unit. It manufactures and develops refrigerator components and monitoring solutions for the residential, commercial, and industrial sectors. Emerson delivers a wide range of refrigeration monitoring solutions such as standard, programmable & Wi-Fi thermostats, sensors, thermistors, and control systems. Emerson has adopted the strategy of collaboration to strengthen its position in the market.
Monnit (US) is a key player in the refrigeration monitoring ecosystem, serving customers spread across different areas. The company has 3 sensor families, namely, environmental sensors, power sensors, and motion sensors. The company offers low-cost, wireless, remote monitored, and cloud connected simple sensors to monitor refrigeration units. The company has a presence in more than 85 countries in North America, Europe, and APAC though distribution partnerships.
Monnit has adopted product launches & developments as a key growth strategy to increase its production efficiency and gain a competitive edge over other players in the market.
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
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