For temperature-sensitive products from food to vaccines, cold chain technology enables temperature control and monitoring throughout the supply chain.
Cold chain encompasses a suite of technologies and processes that are used to preserve integrity across manufacturing, storage, and transportation for temperature-sensitive products. The cold chain plays an important role across the pharmaceutical, chemical, and food and beverage industries, and will be critical for safe distribution of Covid-19 vaccines.
Companies can minimize supply chain risk by leveraging solutions that maintain temperature, provide data in real-time via internet-of-things (IoT) technology, and enable agile responsiveness with artificial intelligence (AI).
Cold chain solutions are estimated to have a total addressable market of $286B, growing at 19.5% annually, according to CB Insights’ industry analyst consensus.
COMPONENTS OF A COLD CHAIN
A cold chain is comprised of three core components.
The first component consists of technology to regulate a product’s temperature within its packaging or transport container. Second are IoT sensors (or sometimes barcodes) connected to the product or packaging. These provide real-time data on product conditions. Third, visibility platforms provide access to product conditions data and identify risks or gaps in the cold chain.