The global refrigeration monitoring market was valued at USD 10.37 billion in 2024 and is projected to reach USD 17.06 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.7% from 2025 to 2030. This growth is driven by stringent regulations in food and pharmaceutical safety, the expansion of e-commerce, and advancements in cold chain logistics. Additionally, technological innovations are enhancing the efficiency and capabilities of monitoring systems.
Key Market Trends & Insights
- Regulatory Compliance: Stringent regulations in the food and pharmaceutical industries are compelling businesses to adopt refrigeration monitoring systems to ensure product safety and quality.
- E-commerce Growth: The rise of e-commerce, particularly in the food and pharmaceutical sectors, has increased the demand for reliable cold chain logistics, further driving the need for effective refrigeration monitoring solutions.
- Technological Advancements: Innovations in IoT, wireless sensors, and cloud computing are enhancing the functionality and accessibility of refrigeration monitoring systems, making them more efficient and user-friendly.
- Regional Dynamics: North America held the largest market share in 2024, with significant contributions from the U.S. and Canada. The Asia Pacific region is expected to witness the highest growth rate during the forecast period, driven by increasing industrialization and urbanization.
Market Size & Forecast
- 2024: USD 10.37 billion
- 2025: USD 11.24 billion
- 2030: USD 17.06 billion
- CAGR (2025–2030): 8.7%
Order a free sample PDF of the Refrigeration Monitoring Market Intelligence Study, published by Grand View Research.
Key Companies & Market Share Insights
The refrigeration monitoring market is characterized by the presence of several key players:
- Honeywell International Inc.: A leading player offering a wide range of refrigeration monitoring solutions, including sensors and control systems.
- Emerson Electric Co.: Known for its comprehensive refrigeration monitoring systems catering to various industries.
- Danaher Corporation: Provides advanced monitoring solutions with a focus on precision and reliability.
- Digi International Inc.: Specializes in IoT-based refrigeration monitoring systems, enhancing real-time data collection and analysis.
- Testo SE & Co. KGaA: Offers portable and fixed refrigeration monitoring solutions with a focus on accuracy and ease of use.
Conclusion
The refrigeration monitoring market is poised for significant growth, driven by regulatory requirements, technological advancements, and the expansion of e-commerce. Companies that invest in innovative solutions and adapt to regional dynamics will be well-positioned to capitalize on the opportunities in this evolving market.
Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.