IoT heats up across the cold chain
The scale of the cold chain market is enormous and with increased consumer focus on fresh food, it is becoming an attractive market for IoT. A ready-made or even government-mandated business case is always a substantial help in generating interest and achieving deployment volumes and IoT is starting to see this in cold chain deployments, writes George Malim.
The cold chain – effectively the supply chain for perishable food and drugs – is increasingly relying on IoT-enabled sensors and technologies such as artificial intelligence (AI) to assure that products have remained at a regulation-compliant temperature during transit. Today, the global cold chain market is valued by research firm Markets and Markets at more than US$203 billion and it is projected to reach US$293.27 billion by 2023 because of higher demand for perishable products and growing requirements for fast delivery.
“It is essential to utilise the technology at businesses’ disposal to eliminate product and monetary losses,” says Ruban Phukan, the co-founder, chief product officer and chief analytics officer at DataRPM. “Through the power of automation and IoT, enterprises can maximise product shelf life and maintain refrigerated warehouses. AI-powered platforms can use data collected from IoT devices to control the environment in refrigerated warehouses an …