Storage Refrigeration Monitoring Market Outlook:
Storage Refrigeration Monitoring Market size was USD 5.3 billion in 2024 and is estimated to reach USD 14.7 billion by the end of 2037, expanding at a CAGR of 8.7% during the forecast period, i.e., 2025-2037. In 2025, the industry size of storage refrigeration monitoring is assessed at USD 5.7 billion
The growing investments in energy-efficient technologies are expected to propel the sales of storage refrigeration monitoring solutions in the years ahead. The strict regulatory compliance in food and pharmaceutical logistics, as well as the modernization of supply chains, is also fueling the adoption of storage refrigeration monitoring technologies. The increasing complexity of cold chain operations, particularly for perishable food and vaccine storage, is set to accelerate the demand for integrated monitoring systems.
Furthermore, the U.S. Department of Agriculture (USDA) states that food loss due to inadequate refrigeration is a key concern, which necessitates the concerned authorities to impose stringent record-keeping and real-time temperature logging requirements. This is set to directly fuel the sales of storage refrigeration monitoring technologies in the coming years. The U.S. Bureau of Labor Statistics (BLS) states that the producer price index (PPI) for industrial refrigeration equipment grew by 4.5% YoY in 2024. The same source also reveals that the consumer price index for refrigerated goods, especially perishable food, grew by 3.9% in 2024. The above pricing trend reflects how upstream price volatility is influencing the deployment of smarter refrigeration monitoring infrastructure.
Storage Refrigeration Monitoring Market - Growth Drivers and Challenges
Growth Drivers
- Regulatory pressure driving high sales: The strict regulations from agencies such as the U.S. FDA and the EU’s DG SANTE to ensure temperature-controlled logistics are promoting the sales of real-time monitoring systems. The Food Safety Modernization Act (FSMA) in the U.S. and the EU Regulation (EC) No 853/2004 mandate end-to-end traceability and temperature logging for perishable goods during transport and storage. To align with these regulations, many end users are increasingly investing in storage refrigeration monitoring solutions. Companies in Europe fueled cold chain monitoring technology investments by 13.4% YoY since 2023, especially in the meat and dairy sectors. Thus, strict legal frameworks are set to push global manufacturers and logistics providers to adopt integrated refrigeration monitoring systems.
- Rise in pharmaceutical cold chain demand: The pharmaceutical sector is expected to offer high-earning opportunities for storage refrigeration monitoring solutions producers. The need for cold chain logistics for vaccines, insulin, and biologics supply is swiftly pushing the sales of storage refrigeration monitoring technologies. The global pharmaceutical cold chain spending is expected to cross USD 21.3 billion by 2026. Also, the World Health Organization’s (WHO) guidelines for vaccine temperature monitoring are contributing to the overall sales growth. Japan and India expanded pharmaceutical cold chain facilities by more than 20.3% between 2021 and 2024. This underlines that in the coming years, the investments in storage refrigeration monitoring technologies are expected to boom.
Technological Innovations in the Storage Refrigeration Monitoring Market
The ongoing innovations are set to double the revenues of storage refrigeration monitoring technology manufacturers between 2025 and 2037. The swift integration of digital technologies is estimated to propel the demand for storage refrigeration monitoring systems in large-scale enterprises. The advanced technologies, including AI, IoT, cloud computing, and blockchain, are set to enhance the operational efficiency of storage refrigeration monitoring solutions. The table below reveals the current technological trends and their outcomes.
|
Technology |
Industry |
Company/Org |
Use Case |
Outcome |
|
AI Predictive Analytics |
Pharma |
Pfizer |
Vaccine cold chain integrity |
99.5% delivery compliance |
|
IoT-Enabled Sensors |
Food Retail |
Walmart |
Smart cold storage for perishables |
18.3% spoilage cost cut (2024) |
|
Blockchain for Audits |
Pharmaceuticals |
MediLedger Consortium |
Tamper-proof temp data logs for biologics |
Deployed by 24 of the top 50 pharma firms |
Sustainability Trends in the Storage Refrigeration Monitoring Market
The strict regulatory mandates are set to boost the adoption of storage refrigeration monitoring systems. The sustainability-linked transformation, including renewable energy and circular economy, is also projected to fuel the demand for storage refrigeration monitoring technologies. The carbon-neutral strategies and ESG compliance are further accelerating the sales of storage refrigeration monitoring solutions. The table below reveals the current sustainability strategies and their business impacts.
|
Company |
Sustainability Initiatives |
Goals & Vision |
Impact on Business |
|
Carrier Global |
21.3% CO₂e fall in 2023 via smart systems |
Net-zero emissions across operations by 2030 |
6.6% revenue increase in sustainable products (2023) |
|
Danfoss |
49.3% global energy from renewables (solar, wind) |
100% renewable electricity and carbon neutrality by 2030 |
Decreased grid reliance; improved ESG investor rating |
|
Emerson |
28.6% manufacturing waste cut via circular process |
Zero waste to landfill in all core factories by 2030 |
Enhanced plant efficiency and reduced OPEX by 11.3% |
Challenges
- Pricing pressures from regulatory compliance costs: The regulatory compliance costs are expected to deter small- and mid-sized manufacturers from expanding their operations. The integration of AI and real-time monitoring increases the costs related to environmental and ICT compliance. In the U.S., cybersecurity controls aligned with NIST SP 800-53 and FDA’s FSMA requirements fuel IoT system development costs by 18.5% to 22.2%. This can create pricing pressure among small players and affect innovation opportunities.
- Limited Infrastructure in emerging economies: The unavailability of advanced infrastructure in developing economies is expected to limit the adoption of storage refrigeration monitoring solutions. The unreliable power supply, low internet penetration, and insufficient 5G rollout hamper the deployment of storage refrigeration monitoring technologies. The International Telecommunication Union (ITU) reveals that in Sub-Saharan Africa, more than 35.5% of refrigerated warehouses don’t have reliable connectivity. This underscore limited earning opportunities for storage refrigeration monitoring system manufacturers.
Storage Refrigeration Monitoring Market Size and Forecast:
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
8.7% |
|
Base Year Market Size (2024) |
USD 5.3 billion |
|
Forecast Year Market Size (2037) |
USD 14.7 billion |
|
Regional Scope |
|
Storage Refrigeration Monitoring Market Segmentation:
Component Segment Analysis
The sensors segment is projected to capture 33.5% of the global storage refrigeration monitoring market share by 2037. The sensor's ability to detect real-time temperature, humidity, and gas is fueling its application in storage refrigeration monitoring solutions. The U.S. Department of Agriculture (USDA) states that more than 30.2% of food loss globally is due to inadequate cold chain monitoring. High-precision sensor-powered storage refrigeration monitoring solutions reduce such losses by ensuring consistent temperature control. Furthermore, the U.S. Department of Energy (DOE) supports the development of advanced sensors under the Energy Efficient Buildings (EEB) program, which aims to reduce commercial refrigeration energy consumption by 11% to 16% by 2030. The supportive policies and programs are expected to encourage manufacturers to develop next-gen storage refrigeration monitoring sensors.
Technology Segment Analysis
The IoT-enabled monitoring segment is set to hold 35.6% of the global storage refrigeration monitoring market share throughout the forecast period. IoT-enabled solutions are gaining traction owing to their ability to integrate with cloud platforms and edge computing, which facilitates real-time anomaly detection and regulatory compliance. The European Union Agency for Cybersecurity (ENISA) states that IoT security and data integrity in the cold chain are priority areas under the EU Cybersecurity Act. Such regulations are increasing the adoption of IoT-based monitoring solutions. Moreover, the Food and Drug Administration’s (FDA) FSMA guidelines for electronic recordkeeping and traceability for perishables are promoting the demand for IoT-connected monitoring platforms.
Our in-depth analysis of the global storage refrigeration monitoring market includes the following segments:
|
Segment |
Subsegments |
|
Component |
|
|
Technology |
|
|
Application |
|
Vishnu Nair
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Storage Refrigeration Monitoring Market - Regional Analysis
North America Market Insights
The North America storage refrigeration monitoring market is anticipated to account for 29.9% of the global market share through 2037. The strict regulatory mandates and food & pharmaceutical safety requirements are set to fuel the trade of storage refrigeration monitoring solutions. The widespread digitization of cold chain infrastructure is also poised to fuel the demand for advanced storage refrigeration monitoring technologies. The strong federal investments in broadband expansion, industrial IoT (IIoT) integration, and supply chain modernization are expected to augment the trade of storage refrigeration monitoring technologies both in the U.S. and Canada.
The U.S. storage refrigeration monitoring market is expected to capture a dominant share throughout the study period. The massive government investments in ICT infrastructure and cold chain digitization are expected to double the revenues of key players in the years ahead. Real-time monitoring systems are increasingly deployed in food logistics and healthcare supply chains, in alignment with the Food Safety Modernization Act (FSMA) and federal vaccine distribution requirements. This is also creating high-earning opportunities for storage refrigeration monitoring technology producers.
The sales of storage refrigeration monitoring technologies in Canada are estimated to increase at a high pace owing to the ongoing advancements in sustainable logistics. The country’s Net-Zero Strategy is also contributing to the increasing sales of sustainable storage refrigeration monitoring systems. The Innovation, Science and Economic Development (ISED) agency invested CAD 4.4 billion between 2023 and 2030 to support digital infrastructure in the cold storage and healthcare sectors. The supportive government policies and funding schemes are set to directly fuel the trade of storage refrigeration monitoring technologies in the years ahead.
Europe Market Insights
The Europe storage refrigeration monitoring market is estimated to hold 25.5% of the global revenue share by 2037. The EU-led mandates on cold chain transparency and food traceability are accelerating the adoption of storage refrigeration monitoring solutions. The digital transformation of the logistics and healthcare sector is also poised to propel the sales of storage refrigeration monitoring technologies in the years ahead. Germany, the UK, and France are expected to register a high demand for storage refrigeration monitoring systems in the smart warehousing and pharmaceutical logistics.
The sales of storage refrigeration monitoring technologies are expected to increase at a high pace in Germany. The advanced logistics infrastructure and stringent cold chain standards are promoting the adoption of storage refrigeration monitoring systems. The rise in strategic public-private digital initiatives is also expected to fuel the sales of storage refrigeration monitoring solutions in the years ahead. The ICT modernization efforts under the Digital Strategy 2025 and strong alignment with the Green Digital Transformation roadmap are set to boost the revenues of key players during the foreseeable period. The country allocated nearly €735.3 million in smart cold logistics in 2023, with more than 68.4% of pharma distribution centers integrating real-time monitoring systems.
The national strategy for digital cold chain transformation under the France 2030 investment plan is poised to fuel the sales of storage refrigeration monitoring technologies. This program has invested €800.5 million in food safety, pharmaceutical logistics, and industrial refrigeration modernization. The continuous digital advancements are likely to increase the need for innovative storage refrigeration monitoring components. In addition, the increasing emphasis on sustainability and emissions reduction is anticipated to promote rapid adoption of AI-driven predictive maintenance technologies in retail and logistics hubs.
Country-Specific Insights
|
Country |
2023 Market Demand (USD Bn) |
Budget Allocation to Storage, Refrigeration Monitoring |
Trend |
|
United Kingdom |
0.72 |
6.9% in 2023 (↑ from 5.2% in 2020) |
Expansion in the NHS cold chain |
|
Germany |
1.33 |
8.5% in 2023 (↑ from 6.8% in 2021) |
Focused on pharma & food logistics |
|
France |
0.94 |
7.5% in 2023 (↑ from 5.9% in 2021) |
Government-subsidized warehouse digitization |
APAC Market Insights
The Asia Pacific storage refrigeration monitoring market is foreseen to increase at a CAGR of 9.1% from 2025 to 2037. The rapid digital transformation and smart manufacturing growth are expected to augment the demand for advanced storage refrigeration monitoring technologies. The healthcare logistics modernization is also expected to increase the deployment of storage refrigeration monitoring systems in the years ahead. The government incentives for IoT adoption and the expansion of smart logistics infrastructure are further accelerating the importance of storage refrigeration monitoring solutions. China, Japan, South Korea, and India are some of the most lucrative marketplaces for storage refrigeration monitoring technology producers.
Sales of storage refrigeration monitoring solutions in China are estimated to increase at a high pace, owing to large-scale deployments across pharmaceutical and food cold chains. The regulatory mandates from NMPA and digitization efforts under MIIT’s 14th Five-Year Plan are also expected to fuel the sales of storage refrigeration monitoring technologies in the years ahead. The China Academy of Information and Communications Technology (CAICT) reveals that the government spending on cold storage ICT solutions increased by 14.9% annually since 2018, and by 2023, over 2.2 million enterprises adopted temperature monitoring systems.
The India storage refrigeration monitoring market is expected to increase at a CAGR of 10.4% during the forecast period. The robust digital shift in food & beverage, healthcare, and logistics sectors is accelerating the trade of storage refrigeration monitoring solutions. The Ministry of Electronics and Information Technology (MeitY) states that the government’s cold chain infrastructure spending rose by 18.9% CAGR from 2015 to 2023, with more than 3.2 million SMEs incorporating IoT-enabled monitoring systems. The favorable government policies and funding schemes are likely to push the adoption of storage refrigeration monitoring solutions in the years ahead.
Country-Specific Insights
|
Country |
Govt. Spending (USD Bn) |
Budget % to Refrigeration Monitoring |
Example/Trend |
|
Japan |
$1.5 |
7.1% (2024) |
37.4% of hospitals integrated real-time systems (MHLW) |
|
Malaysia |
$0.39 |
4.8% (2023) |
Adoption doubled from 2013-2023 (MDEC) |
|
South Korea |
$1.2 |
6.3% (2023) |
51.3% of logistics warehouses digitized (MSIT/NIPA) |
Key Storage Refrigeration Monitoring Market Players:
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
The global storage refrigeration monitoring is consolidated among top-tier players, which capture more than 30.5%. The key players are focused on innovations for which they are investing heavily in R&D activities. The increasing popularity of AI, IoT, and sensor technology is expected to double the revenues of storage refrigeration monitoring manufacturers. The leading companies are entering into strategic partnerships with other players to boost their product offerings ns market reach. They are also entering untapped markets to earn lucrative gains from emerging opportunities. The organic sales are likely to propel the revenues of key players in the years ahead.
Here is a list of key players operating in the global storage refrigeration monitoring market:
|
Company Name |
Country of Origin |
Revenue Share 2024 |
|
Emerson Electric Co. |
USA |
12.6% |
|
Danfoss A/S |
Denmark |
11.1% |
|
Honeywell International Inc. |
USA |
9.5% |
|
Johnson Controls International plc |
Ireland/USA |
8.8% |
|
Schneider Electric SE |
France |
6.9% |
|
Siemens AG |
Germany |
xx% |
|
Thermo Fisher Scientific Inc. |
USA |
xx% |
|
Carrier Global Corporation |
USA |
xx% |
|
Sensitech Inc. (a part of Carrier) |
USA |
xx% |
|
Bosch Thermotechnology GmbH |
Germany |
xx% |
|
Monnit Corporation |
USA |
xx% |
|
Blue Maestro Limited |
United Kingdom |
xx% |
|
Carel Industries S.p.A. |
Italy |
xx% |
|
Rotronic AG (a part of Process Sensing Technologies) |
Switzerland |
xx% |
|
Comark Instruments |
United Kingdom |
xx% |
Below are the areas covered for each company in the storage refrigeration monitoring market:
Recent Developments
- In April 2024, Honeywell International Inc. launched AI-driven diagnostics integrated into its ThermoView Monitoring Suite. This technology reduces downtime by up to 30.6% in warehouse refrigeration systems.
- In March 2024, Emerson Electric Co. announced the launch of its GO Real-Time 4G/5G Tracker. This is a next-gen cellular-based temperature monitoring device for real-time logistics tracking.
- In February 2024, Sensitech announced a major upgrade to its ColdStream Select platform. The new platform reduces product spoilage rates by up to 24.4% and enhances pharma cold chain ROI for clients.
- Report ID: 7882
- Published Date: Jul 10, 2025
- Report Format: PDF, PPT
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