Food, pharmaceuticals, and other temperature-sensitive assets must often travel across the country to reach their final destinations. Along the way, fluctuating temperatures and other environmental conditions threaten to contaminate products and cause distress for both distributors and customers. Thankfully, improved asset tracking solutions are changing the game for industries that must transport perishable assets.
With advances in IoT technology, asset tracking solutions can provide more than real-time location data. Now, asset tracking solutions can monitor an asset’s condition in-transit, providing updates on temperature, environment, and more. These improvements have led to the growth of cold chain monitoring technology for temperature-sensitive assets. According to a report from Markets and Markets, the cold chain monitoring market will reach a $10.2 billion value by 2026, growing at a CAGR of 16.6%. Read on to discover some of the industries that are investing in this specialized form of asset tracking.
Healthcare
According to a report from Market Future Research, the global market for healthcare cold chain monitoring is expected to grow at a CAGR of 12.2% by the year 2027. Insulin, vaccines, oncology products, and blood derivatives are very sensitive to temperature changes and other environmental conditions. If the temperature is only slightly off, the medicine could become ineffective. Cold chain logistics monitoring provides real-time updates on an asset’s temperature and ensures that pharmaceuticals are properly preserved. Healthcare providers will continue to turn to this technology to ensure effective treatments for their patients.
Retail
With the FDA’s new traceability requirements for food, grocery retailers will turn to cold chain monitoring to ensure compliance. Besides providing traceability, cold chain monitoring will help retailers protect the quality of their products and reduce contamination. Retailers can use the data from their products’ locations and conditions in-transit to assure customers of the product's quality. Since customers have become more safety conscious about quality, freshness, and hygiene, the increased transparency that cold chain monitoring provides will boost customer satisfaction.
Join the AirFinder Difference!
- Innovation. Organizations can be freed up to innovate and bring more impactful products and services to market.
- Profitability. Increased profitability provides new opportunities to innovate and improve valuation.
- Digital Transformation. Discover competitive advantages, new revenue opportunities, improved customer relationships and increased efficiency.
Food and Beverage
Restaurants and grocery stores are responsible for a good portion of food waste. Temperatures and fluctuating environmental conditions can contaminate food that is in-transit or stored in on-site facilities. Because food storage temperatures need to be checked daily, cold chain monitoring provides a perfect solution with instant updates for fluctuating temperatures. Workers can use this real-time data to prevent problems and immediately address issues, rather than dealing with contaminated food after the problem is finally discovered. Cold chain monitoring gives restaurants greater control over food quality and, ultimately, customer safety and satisfaction.
Want to Monitor Your Cold Chain Products?
The AirFinder SuperTag provides affordable real-time tracking and temperature monitoring. If you want to learn more about implementing a cold chain monitoring solution, book a demo today.
