The adoption of cold chain telematics solutions for refrigerated trucks and containers in the food and beverage industry is set to grow extensively over the coming years.
In fact, cold food chain track-and-trace revenues are expected to surpass $7 billion worldwide in 2032, according to research from ABI Research. These revenues will consist of hardware sales and recurring monthly Software-as-a-Service (SaaS) revenues.
“Retailers are taking numerous initiatives such as streamlining last-mile delivery processes, employing cold chain telematics solutions in refrigerated trucks and containers, and adopting traceability solutions like Radio Frequency Identification (RFID) and ambient Internet of Things (IoT). The ability to track temperature, humidity, and location throughout the supply chain not only helps retailers adhere to regulatory requirements but also boosts customer confidence in product quality,” says Adhish Luitel, supply chain management and logistics principal analyst at ABI Research.
Key takeaways:
- U.S. and Canadian retailers are increasingly relying on produce farming in Mexico and Central America due to the favorable climate and proximity.
- Regulatory compliance and food waste reduction are the biggest drivers of solutions implementation in this space.
“The outlook for deployment of cold chain monitoring solutions looks encouraging among food and beverage supply chains. Continuous advancements are expected to further precision and efficiency, enabling more use cases. As more data points get leveraged, we can anticipate a much wider integration of artificial intelligence (AI) applications as well. This can build more proactive food procurement and distribution systems that could address potential issues,” adds Luitel.
