According to our latest study on "Refrigeration Monitoring Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Offering, Industry, Application and Monitoring Types," the refrigeration monitoring market size was valued at US$ 9.04 billion in 2024 and is expected to reach US$ 15.42 billion by 2031; it is estimated to record a CAGR of 8.3% from 2025 to 2031.

The global refrigeration monitoring market is segmented into North America, Europe, APAC, the MEA, and SAM. Technological developments in North America have contributed to a highly competitive market for all industries. Moreover, as food safety, pharmaceutical, and medical storage standards tighten, firms must guarantee that refrigeration systems stay within specific temperature limits. According to IQVIA (MIDAS), in 2023, North America accounted for 53.3% of global pharmaceutical revenues, compared to 22.7% in Europe. In May 2024, the US market accounted for 67.1% of new medication sales from 2018 to 2023, compared to 15.8% in Europe. Thus, the growing pharmaceutical production globally creates growth opportunities for the refrigeration monitoring market. Moreover, various players globally are launching temperature monitoring systems. For example, in April 2022, Squadle launched the Squadle Sense Remote Temperature Monitoring (RTM). This is a hands-free monitoring device to monitor freezer and refrigerator interiors. Using wireless temperature sensors, Squadle Sense RTM efficiently maintains store compliance. It frees up time formerly spent on food safety, allowing staff to focus on items that boost the bottom line.

The refrigeration monitoring market in Europe is expanding due to the rising demand for cold chain logistics, food safety, and regulatory compliance. Major supermarkets such as Tesco use monitoring systems to ensure temperature control throughout storage and transit, preventing food deterioration. In April 2024, Star Refrigeration and Tesco partnered on a cold store efficiency drive. Tesco used the technology to alter chiller temperatures at test sites in order to cut energy usage. Between January 2022 and September 2023, Tesco saved an average of 10% on energy at eight distribution hubs by improving the operation and maintenance of refrigeration on-site.

The demand for cold storage in Asia Pacific is booming due to the rising requirement for fresh and frozen food, e-commerce expansion, expanding global trade, technological advancements, government investments, food safety concerns, and urbanization, all of which contribute to the need for effective cold chain logistics. However, various players across the region are playing a significant role in driving the refrigeration monitoring market. For example, in February 2024, WIKA India demonstrated its technologically advanced HVAC and refrigeration solutions, addressing the pressing need for efficient and sustainable solutions at the three-day ACREX India 2024 event in Greater Noida. WIKA India showcased its HVAC and refrigeration solutions, aligning with the "Make in India" initiative.

Key Findings of Refrigeration Monitoring Market Study:

The refrigeration monitoring market is segmented on the basis of offering, industry, application monitoring types, and geography. Based on offering, the refrigeration monitoring market is segmented into hardware, software and service. On the basis of industry, the refrigeration monitoring market is segmented into food and beverages, healthcare, chemicals and others. In terms of application, the refrigeration monitoring market is categorized into storage, transportation, inventory protection and others. Based on monitoring types, the refrigeration monitoring market is segmented into real-time temperature tracking, data logging and analysis, energy management, product freshness monitoring and others. By geography, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America.

In terms of offering, the refrigeration monitoring market is segmented into hardware, software and service. The hardware segment held the largest refrigeration monitoring market share. In refrigeration monitoring, hardware plays a critical role in ensuring proper temperature control, food safety, and operational efficiency. Refrigeration monitoring hardware comprises temperature, humidity, and pressure sensors; data loggers and transmitters for data collection and transmission; and controllers for regulating refrigeration systems. Alarms and alerts notify operators of any deviations from the predefined parameters, allowing for rapid response. Backup power systems assure uninterrupted operation during outages, while networking devices such as gateways and IoT integration allow for remote monitoring. These components work together to ensure food safety, efficiency, and real-time temperature control in refrigeration systems.

Sensors are essential to refrigeration monitoring systems because they provide real-time information on variables such as temperature, humidity, pressure, and vibrations. These sensors continuously monitor the operation of refrigeration units and are usually Internet of Things enabled. They guarantee efficient operation and assist in identifying inefficiencies and possible problems such as refrigerant leaks. Systems such as Facilio, for instance, use AI and machine learning algorithms to anticipate leaks and deliver alarms for prompt action, while automated reporting guarantees regulatory compliance. Proactive maintenance is made possible by this data-driven strategy, which lowers downtime and boosts productivity. Players such as OneEvent Technologies and Monnit offer refrigeration monitoring with sensors.

Based on application, the refrigeration monitoring market is segmented into storage, transportation, inventory protection, and others. Refrigeration monitoring in storage applications is critical to ensuring product quality and safety in a variety of industries. One of the most important applications of refrigeration monitoring is in storage systems, where temperature-sensitive commodities must be kept under controlled conditions. These storage applications are used in a variety of industries, including food and beverages, pharmaceuticals, chemicals, and logistics, where precise temperature control is critical for maintaining product quality, safety, and regulatory compliance. With products necessitating precise temperature control to preserve their quality, any deviation can result in spoilage, financial setbacks, and potential safety hazards. This highlights the importance of specialized temperature-controlled warehousing, which guarantees that products are stored, managed, and transported within the ideal conditions to safeguard their integrity.

Danfoss AS, TE Connectivity Ltd., KoolZone Ltd., Copeland LP, Samsara Inc, ORBCOMM Inc, Monnit Corporation, Tek Troniks Limited, Berlinger & Co. AG, Dickson Data, Sensaphone, Vaisala Oyj, OneEvent Technologies, Kitchen Brains, Swift Sensors are among the key players profiled in the refrigeration monitoring market report. Several other major players were studied and analyzed during the refrigeration monitoring market analysis to get a holistic view of the market and its ecosystem. The refrigeration monitoring market also provides detailed market insights, which help the key players strategize their growth. The report includes growth prospects owing to the current refrigeration monitoring market trends and their foreseeable impact during the forecast period.

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