Global Refrigeration Monitoring Market to be Driven by Rising Number of Online Supermarkets and Grocery Stores During the Forecast Period 2022-2027

Expert Market Research’s new report titled ‘Global Refrigeration Monitoring Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global Refrigeration Monitoring Market, assessing the market based on its segments such as offers, sensors, applications, industries, and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2017-2027)

  • Historical market size (2021): 7.7 billion USD
  • Forecast CAGR (2022-2027): 4%
  • Forecasted market size (2027): 12.5 billion USD

Rising demand for quality packaged food and organic food products due to increased consumer awareness, changing consumer behavior, increase in fast food restaurants and supermarkets and the need to reduce food waste by keeping it fresh for longer are driving the growth of the market and are expected to continue to do so also in the future. In addition, the increase in food retail chains in developing countries and increasing demand for refrigeration systems in grocery stores, supermarkets, and convenience stores are expected to drive the growth of the market. Interactive notification and remote control features of refrigeration monitoring systems are expected to further drive the growth of the refrigeration monitoring market.

Industry definition and major segments

Refrigeration is a process of removing heat from an enclosed space for the purpose of lowering the temperature. A refrigeration monitor has advanced IoT sensors, monitors the temperature in the refrigeration system and provides alerts for temperature fluctuations in the artificial cooling system.

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On the basis of supply, the market can be divided into:

  • Material
  • Software
  • Services
  • Others

Based on the sensor, the market can be split into:

  • Temperature sensor
  • Defrost sensors
  • Liquid level sensors
  • Pressure sensor
  • gas detector
  • Motion sensor
  • Touch sensors
  • Contact sensors
  • AC Current Sensors
  • Water detection sensors

Based on Application, the market can be segmented into:

On the basis of industry, the market can be segmented into:

  • Food and drink
  • Medications
  • Chemical products
  • Hospitals
  • Residential
  • Others

Global Refrigeration Monitoring Market by Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market trends

The major players in the refrigeration monitoring market seek to develop advanced products and solutions capable of producing environment-friendly technologies by saving energy and reducing carbon emissions. Various government initiatives and ongoing technological advancements such as the use of IoT and AI are expected to provide a large number of opportunities for players in the refrigeration monitoring market. The growing penetration of internet connection in the market and the widespread use of smartphones are contributing to the expansion of these digital technologies, giving a boost to the market. The presence of numerous active players in the market shows the intensity of the competitive landscape of the refrigeration monitoring market. These players are using various strategies to grow their businesses including mergers, acquisitions, collaborations, and partnerships which in turn are expected to support the growth of the refrigeration monitoring market.

Main market players

Key players in the global refrigeration monitoring market are Zebra Technologies Corporation, Emerson Electric Co., Danfoss, Daikin Industries, Ltd. and Samsara Inc., among others.. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.

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