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Cold Chain Market Size, Share and Forecast [2021-2028] | Global Industry Growth Factors, Revenue Outlook Report by Fortune Business Insights™

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Pune, India, Dec. 21, 2021 (GLOBE NEWSWIRE) — According to Fortune Business Insights™, the global cold chain market size is expected to grow significantly because of the rising adoption of technologically advanced refrigeration and storage techniques by retailers and storage depots. Thus, this factor can propel the market growth during the upcoming years.

Cold Chain is a thermal packaging and refrigeration system that protects thermally susceptible goods during travel. It is extensively used by the food & beverage sector to safely transport products across several places while preserving the product’s quality. It is used to transport biopharmaceutical drugs across several regions globally. A cold chain system is also used to transport agricultural produce across a country or globally to conserve the freshness and vitamins of fruits and vegetables. Adoption of technologically advanced cold chain methods is likely to propel the product’s demand. 

The incorporation of several technologies such as artificial intelligence (AI) technology, real-time data tracking, and cloud platforms are likely to facilitate market growth. For example, companies such as Godamwale are utilizing artificial technology (AI), machine learning (ML), natural language processing, and deep learning technologies to simplify their manufacturing process. Hence this factor can foster the market growth in the upcoming years.

Fortune Business Insights™ lists out all the cold chain market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

  • Argo Merchants Group LLC
  • Americold Logistics LLC.
  • Burris Logistics Inc.
  • Swire Group
  • Al Rai Logistica K.S.C.
  • Swire Cold Storage
  • Cold Chain Technologies, Inc.
  • VersaCold Logistics Services
  • Nichirei Corporation
  • Lineage Logistics

Get a Sample PDF Brochure:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/cold-chain-market-104317

Report Aim & Scope:

  • An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
  • The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
  • Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
  • The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
  • The various parameters accelerating the growth of the market are incorporated in the research report.
  • The report analyzes growth rate, cold chain market size and valuation of the market during the forecast period.

Drivers and Restraints

Robust Demand for Biodegradable Food Products to Facilitate Market Growth

The cold chain system’s demand is increasing rapidly because of the rising trade activities and strong demand for biodegradable food products such as vegetables, fruits, milk, poultry products, fish, red meats, and others. The governments are investing heavily in improving cold chain facilities and strengthening their food safety policies. For example, the Ministry of Food Processing Industries has incorporated cold chain schemes to provide excellent products to consumers. This scheme has been under effect since 2008. There are corporations, companies, partnership/proprietorship firms under the scheme guidelines. In addition, the growth of international trade has led to the demand for vegetables, fruits, and other imported food items from other regions or countries. Thus, this factor can drive the cold chain market growth.

However, the negative impacts on the environment, such as greenhouse gas emissions, can hamper the market growth.

Segments

Based on technology, the market is divided into vapor compression, programmable logic controller, blast freezing, and others. By type, it is bifurcated into refrigerated storage and transport. On the basis of application, it is categorized into processed food, bakery & confectionery, dairy & frozen food, meat & salad, and fruit & vegetables. Geographically, it is clubbed into Europe, North America, Asia Pacific, South America, and the Middle East & Africa. 

Browse Detailed Summary of this Research Report:

https://www.fortunebusinessinsights.com/cold-chain-market-104317

Regional Insights

Rising Consumer Preference to Consume Fresh Food Products to Fuel Growth in North America

North America is projected to dominate the cold chain market share due to the increasing consumer preference to consume fresh food products. As per research conducted in the region, the United State’s warehouse capacity reached 4.6% due to the reliance on cold chain systems for food & beverage distribution and storage. 

In Asia Pacific, the warehouse management tool’s adoption is expected to boost the product demand. In developing countries such as India and China, the prevalence of the agricultural sector is likely to spur opportunities for the export and import of fresh products. Thus, this factor can propel market growth.

Competitive Landscape

Prominent Companies to Acquire Crucial Players to Enhance their Market Position

The prominent companies operating in the market acquire certain key players to enhance their market position. For example, Lineage Logistics Holdings LLC successfully acquired Yearsley Group Limited in November 2018 to enhance its market position in the US and improve its global reach. Furthermore, companies’ launch of innovative products and security systems such as artificial technology and machine learning technologies can attract consumer attention. Hence this factor can enhance the company’s brand image. 

Key Industry Development

  • June 2021: Reddy tied up with Rockwell to store its vaccines. Rockwell will supply over 500 freezers to Dr. Reddy for preserving the sputnik V vaccine. This partnership can enhance Dr. Reddy’s brand image as a seller of high-quality vaccines. 

Inquire Before Buying This Research Report:

https://www.fortunebusinessinsights.com/enquiry/queries/cold-chain-market-104317

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

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Pune – 411045, Maharashtra, India.

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Artificial Intelligence

Lucinity Appoints Udi Nessimyan as President and Chief Revenue Officer

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REYKJAVIK, Iceland, April 24, 2024 /PRNewswire/ — Lucinity , a leader in generative AI for financial institutions, is thrilled to announce the appointment of Udi Nessimyan as its new President and Chief Revenue Officer. Udi brings to the role a wealth of experience from his time in AI development at some of the world’s most prestigious tech companies, including Sealed.ai, Oracle, and Amazon Web Services.

Gudmundur Kristjansson, Founder and CEO of Lucinity, expressed his enthusiasm about Udi’s appointment, stating, “Udi’s proven track record of driving growth and innovation aligns perfectly with our core mission at Lucinity. His strategic acumen and deep industry knowledge are invaluable as we continue to develop and deliver AI solutions that enhance the efficiency and effectiveness of our clients’ operations.”
Udi’s career highlights include co-founding and leading Sealed.ai as CEO, where he spearheaded the development of a cutting-edge conversational AI platform that redefined standards in business communication. At Basis Technology, he was instrumental in driving sales and operational strategies for their flagship products, including Rosette and various Cyber Forensics tools, achieving an annual recurring revenue growth rate exceeding 30%.
In his new role, Udi will focus on refining Lucinity’s approach to marketing, sales, and customer onboarding. His expertise will be crucial in ensuring that Lucinity’s innovative AI solutions are effectively communicated and reach the right audiences, thereby maximizing their impact and facilitating the adoption of the technology.
“Udi’s involvement is vital as we strive to make our AI tools more intuitive and impactful,” said Kristjansson. “His insights and leadership will enhance our ability to deliver these technologies efficiently and effectively, aligning them closely with customer needs and industry demands.”
Under Udi’s leadership, Lucinity is set to deepen its commitment to unleashing human efficiency with AI, expanding the reach and impact of its mission to create AI that makes people better at what they do.
Lucinity thanks its partners and stakeholders for their continued support and interest as it embarks on this exciting new chapter.
About Lucinity:
Lucinity is a leader in generative AI technologies for financial institutions, designed to accelerate workforce efficiency. Its platform features Luci, an AI copilot that enhances intelligence gathering, analysis, and decision-making, allowing institutions to streamline operations and reduce costs. As an open, configurable, no-code platform, Lucinity is a crucial tool for enhancing productivity and operational efficiency in the financial sector.
Media Contact
Celina PabloSenior Marketing [email protected] +354 792 4321
Logo: https://mma.prnewswire.com/media/2208676/4669079/Lucinity_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/lucinity-appoints-udi-nessimyan-as-president-and-chief-revenue-officer-302126327.html

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Artificial Intelligence

Resolutions at ASSA ABLOY AB’s Annual General Meeting 24 April 2024

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STOCKHOLM, April 24, 2024 /PRNewswire/ — The Annual General Meeting of ASSA ABLOY AB was held on Wednesday 24 April 2024 in Stockholm, Sweden.

Adoption of income statements and balance sheets and discharge from liability
The Annual General Meeting adopted the parent company’s and the Group’s income statements and balance sheets for the financial year 2023. The members of the Board of Directors and the CEO were discharged from liability for the financial year 2023.
Dividend 
The Annual General Meeting approved the dividend of SEK 5.40 per share proposed by the Board of Directors, to be paid out in two equal installments, the first with the record date Friday 26 April 2024 and the second with the record date Monday 11 November 2024. The first installment is estimated to be paid on Thursday 2 May 2024 and the second installment on Thursday 14 November 2024.
Election of the Board of Directors and auditor
The Annual General Meeting re-elected Johan Hjertonsson, Carl Douglas, Erik Ekudden, Sofia Schörling Högberg, Lena Olving, Victoria Van Camp, Joakim Weidemanis and Susanne Pahlén Åklundh as members of the Board of Directors. Johan Hjertonsson was re-elected as Chairman of the Board of Directors and Carl Douglas was re-elected as Vice Chairman.
The Annual General Meeting re-elected the audit firm Ernst & Young AB as auditor for the time period until the end of the Annual General Meeting 2025.
Remuneration to the Board of Directors and the auditor
The remuneration to the Board of Directors will totally amount to SEK 9,945,000 (excluding remuneration for committee work). Auditor fees shall be paid according to contract.
Resolution on approval of remuneration report
The Annual General Meeting resolved, in accordance with the Board of Directors’ previously published proposal, to approve the Board’s remuneration report.
Resolution regarding authorization to repurchase and transfer Series B shares in the company
The Annual General Meeting resolved, in accordance with the Board of Directors’ previously published proposal, to authorize the Board of Directors to, on one or more occasions, repurchase Series B shares in the company for the period up until the Annual General Meeting 2025. The repurchase shall maximum comprise so many Series B shares that the company’s holding does not at any time exceed 10 per cent of the total number of shares in the company.
Resolution regarding long-term incentive program
The Annual General Meeting resolved, in accordance with the Board of Directors’ previously published proposal, to implement a long-term incentive program for senior executives and key employees within the ASSA ABLOY Group (“LTI 2024”).
Minutes from the Meeting including complete resolutions will be available on the company’s website assaabloy.com/general-meeting.
For more information, please contact:Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68
About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 61,000 employees and sales of SEK 141 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY’s innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world. 
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/assa-abloy/r/resolutions-at-assa-abloy-ab-s-annual-general-meeting-24-april-2024,c3966574
The following files are available for download:
https://mb.cision.com/Main/7333/3966574/2754153.pdf
Press release (PDF)
 

View original content:https://www.prnewswire.co.uk/news-releases/resolutions-at-assa-abloy-abs-annual-general-meeting-24-april-2024-302126311.html

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Artificial Intelligence

GSTS selected by Canada-US Seaways to provide Enhanced Analytics and Voyage Information System Predictability with OCIANA®

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HALIFAX, NS, April 24, 2024 /PRNewswire/ — Global Spatial Technology Solutions (“GSTS” or “the Company”) announced that it has been awarded a contract for a Voyage Information System (VIS) by St. Lawrence Seaway Management Corporation (SLSMC) and Great Lakes St. Lawrence Seaway (GLS) to enhance joint management of bi-national waterways.

GSTS will provide predictions for VIS through OCIANA®, its proprietary, AI powered SaaS platform. OCIANA® is a cyber-secure and scalable system which has been developed in collaboration with, and is used by, ports, shipping lines, pilotage authorities, civil agencies and border security organisations.
At the heart of OCIANA’s offering is robust, predictive data analytics, powered by novel AI algorithms. OCIANA’s data integration framework will assimilate critical information from the Seaway Traffic Management System and GSTS data streams into a predictability model to accurately forecast vessel ETAs, thus providing improved management of voyages and eventually optimizing lockage schedules.
OCIANA® is a flexible platform designed to incorporate the intricate Locks System Rules, ensuring that all vessel movements adhere to safety and operational guidelines. While focusing on a specific segment of the St. Lawrence, vessel management is impacted by dynamic events stretching from the Atlantic approaches to the Great Lakes. The dynamic Lock Schedule Engine leverages various inputs, employing advanced algorithms to manage vessel traffic and schedule lockage, thus enhancing throughput and reducing delays. Through this innovation, OCIANA® will be well positioned to offer superior optimization capability to all major waterways.
“This project will demonstrate OCIANA’s capability to provide unparalleled planning and optimization in a highly dynamic environment impacted by multiple geographic, operational and environmental factors,” said Richard Kolacz, Chief Executive Officer, GSTS. “This award continues to illustrate the versatility of OCIANA® in facilitating enhancements to maritime safety, security and supply chain resilience globally.”
The Great Lakes Seaway system serves as a key supply chain, moving $66B in goods and supporting 356,000 jobs. Optimizing the flow of goods, in a highly dynamic marine trade environment, is crucial to the economies of Canada and the United States.
OCIANA® is configured to adapt to the evolving demands of maritime traffic management, with provisions for incorporating additional data sources and enhancing the Predictability Engine with emerging technologies such as weather machine learning models. GSTS continues to expand its offering to maritime and logistics stakeholders further enhancing its leading position in maritime digitalization and innovation.
About Global Spatial Technology Solutions (GSTS)Global Spatial Technology Solutions (GSTS) is a global maritime intelligence company delivering solutions to enhance decision making across the maritime and logistics industry. Our predictive solutions are enabled by a range of operational, environmental, vessel and cargo data to provide real-time decision making intelligence for ports, terminal operators, shipping lines, logistics companies, importers, exporters, national and international agencies as well as security organisations.
For more information and to explore opportunities to partner with us, contact us today.
Media Contacts: Danica Martis, GSTS, Email: [email protected]

View original content:https://www.prnewswire.co.uk/news-releases/gsts-selected-by-canada-us-seaways-to-provide-enhanced-analytics-and-voyage-information-system-predictability-with-ociana-302125284.html

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