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Cold chain logistics market to grow by USD 9.48 billion

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Technavio has announced its latest market research report titled Cold Chain Logistics Market for Pharmaceuticals Industry by Service and Geography - Forecast and Analysis 2020-2024

Technavio has announced its latest market research report titled Cold Chain Logistics Market for Pharmaceuticals Industry by Service and Geography – Forecast and Analysis 2020-2024

The cold chain logistics market is expected to grow by USD 9.48 billion during 2020-2024, according to the new report from Technavio. This marks a significant market slow down compared to the 2020 growth estimates due to the impact of the COVID-19 pandemic, in the first half of 2021. In addition, the report projects the market to accelerate at a CAGR of over 10%.

The cold chain logistics market for the pharmaceutical industry is driven by the increase in global demand for pharmaceuticals. In addition, the growth in demand for reefer containers from the pharmaceutical industry is anticipated to boost the growth of the Cold Chain Logistics Market for the Pharmaceuticals Industry.

The growth in pharmaceutical sales has globally increased the volume of pharmaceuticals trade. Several government initiatives on health insurance schemes contributed to the high growth of pharmaceutical sales. Therefore, for efficient transportation of pharmaceuticals, warehousing, and distribution in large volumes, the end-user companies would require cold chain healthcare logistics services. This will drive the growth of the global cold chain logistics market for the pharmaceutical industry through the forecast period.

Major Five Cold Chain Logistics for Pharmaceuticals Industry Companies:

Agility Public Warehousing Co. K.S.C.P

Agility Public Warehousing Co. K.S.C.P provides storage in multiple temperature zones, cold chain solutions, reverse logistics, and advanced tracking and tracing technologies.

Deutsche Post AG

Deutsche Post AG provides life sciences & healthcare products and solutions transport services in the market such as DHL Air Thermonet – Standard Temperature Controlled Air Freight, DHL Ocean Thermonet – Temperature Controlled Ocean Freight, DHL Freight Cold Chain – Temperature Controlled for life sciences and health care products, DHL Medical Express – Temperature Sensitive Corporation.

FedEx Corp.

FedEx Corp. provides end-to-end temperature control services such as FedEx Temp-Assure, FedEx Deep Frozen shipping solution, Fed Ex Thermal Blanket solutions, FedEx Freight Freezable protection service.

JWD InfoLogistics Public Co. Ltd.

JWD InfoLogistics Public Co. Ltd. provides services of transportation and distribution management, special attention towards dangerous goods port safety, logistics software development, etc services are available.

Kerry Logistics Network Ltd.

Kerry Logistics Network Ltd. provides a complete cold chain integrity solution, warehousing and distribution service, and other value-added services.

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Graph Blockchain Solutions Targets $15.5 Trillion Global Supply Chain Management Logistics Sector

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Blockchain Data Management & Global Logistics Market

With globalization and the increased consumption of various products worldwide, efficient supply chain management and the role of freight and logistics has become increasingly complex.

The global logistics market involves all activities of Supply Chain Management (“SCM”), including transportation, warehousing, inventory management, and the flow of information and order processing.

As previously published by Transparency Market Research, this market is estimated to reach US $15.5 Trillion by 2023.

Multi-national global logistics and freight companies such as FedEx, UPS, and Purolator have openly acknowledged their endorsement of blockchain technology, with all three joining the Blockchain in Trucking Alliance (BiTA), noting that it will bring efficiencies to their industry through consistent, transparent and immutable data.

“We’re quite confident that blockchain has big, big implications in the supply chain, transportation, and logistics,” FedEx CEO Frederick Smith said at the Consensus 2018 conference.

On their company’s press release, Linda Weakland, UPS director of enterprise architecture and innovation, said: “Blockchain has multiple applications in the logistics industry, especially related to supply chains, insurance, payments, audits and customs brokerage.”

Tied to global logistics, South Korea has one of the world’s highest e-commerce rates, however, they have lagged in keeping pace with warehouses and distribution centers. As such, as reported by the Wall Street Journal earlier this year, there has been a wave of investment into high-specification logistics projects across the country, both by the South Korean government through incentives and into Korean logistics properties by institutional investors such as the Canada Pension Investment Board.

Graph Blockchain Solutions

With the growth of this sector as a tactical objective, Graph’s foray into the global logistics industry commenced with providing solutions to divisions of Samsung and LG corporations. Both companies are South Korean based multinational conglomerates, known to be the world’s largest manufacturer of mobile phones and smartphones, and the world’s second-largest television manufacturer, respectively.

By participating in the development of technology that could revolutionize logistics for multi-nationals, Graph has secured a solid position with the goal of becoming a leading solution provider in the sector, focusing on building a global logistics eco-system wherein the graph blockchain solution would reduce downtime by providing real-time monitoring, tracking and business intelligence analytics.

This will enable companies to realize cost savings by mitigating delays and minimizing the impact of lost goods due to cargo theft and fraud, while at the same time driving efficiencies across their SCM.

Read more at Graph Blockchain Solutions Targets $15.5 Trillion Global Supply Chain Management Logistics Sector

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SenseAware is FedEx’s Internet of Things Response to Supply Chain Optimization

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Supply chain visibility is critical to a company’s operational performance improvement, according to 63% of 149 responding companies in a survey conducted by Aberdeen Group.

“Visibility is a prerequisite to supply chain agility and responsiveness,” the report states.

And it requires tracking the location of a shipment not only at the transportation level, but also at a unit and item level.

Location tracking is good protection against shipment theft or loss, but companies need a deeper level of visibility for their products, according to FedEx.

The company’s solution? The IoT-inspired SenseAware, a sensor-based logistics solution.

SBL uses sensors to detect the shipment’s environmental conditions while warehoused or in transit and sends the data – via wireless communication devices – to a management software system where the data is collected, displayed, analyzed and stored.

It is “the basis of a powerful new central nervous system for the global supply chain,” according to FedEx.

The device is meant to provide intelligence that can help enterprises coordinate and manage product, information and financial flows.

Read more at SenseAware is FedEx’s Internet of Things Response to Supply Chain Optimization

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