Fintech PR

Cold Chain RFID Market to Hit $4636.6 Million by 2030: Explore Trends, Segmentation, and Growth Factors | Valuates Reports

Published

14 hours ago

January 8, 2025

BANGALORE, India, Jan. 8, 2025 /PRNewswire/ — Cold Chain RFID Market is Segmented by Product (Sensors, RFID Tag, RFID Reader), by Technology (Passive RFID, Active RFID), by Application (Food and Beverages, Pharmaceutical & Biomedical).

The Cold Chain RFID Market was estimated to be worth USD 1544.1 Million in 2023 and is forecast to a readjusted size of USD 4636.6 Million by 2030 with a CAGR of 16.5% during the forecast period 2024-2030.

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Major Factors Driving the Growth of Cold Chain RFID Market:

The Cold Chain RFID Market is poised for substantial growth, driven by the increasing need for efficient and reliable tracking solutions in the transportation and storage of temperature-sensitive products. RFID technology offers comprehensive monitoring and real-time data collection, ensuring that products such as pharmaceuticals, food, and biologics are maintained within optimal conditions throughout the supply chain.

The ability to provide detailed visibility into the movement and status of goods enhances operational efficiency, reduces losses, and ensures compliance with regulatory standards. Additionally, advancements in RFID technology, including improved sensor integration and data analytics capabilities, further enhance the effectiveness of cold chain management systems.

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TRENDS INFLUENCING THE GROWTH OF THE COLD CHAIN RFID MARKET:

RFID tags are instrumental in driving the growth of the Cold Chain RFID Market by enabling precise tracking and monitoring of temperature-sensitive products throughout the supply chain. These tags provide real-time data on the location and condition of goods, ensuring that products such as pharmaceuticals, food, and perishable items are maintained within optimal temperature ranges during storage and transportation. The ability of RFID tags to offer detailed insights into environmental conditions helps businesses prevent spoilage, reduce waste, and ensure compliance with regulatory standards. As the demand for efficient and reliable cold chain management solutions increases, RFID tags become essential tools for enhancing visibility, improving inventory accuracy, and ensuring the integrity of temperature-sensitive products. This critical functionality propels the adoption of RFID technology in the cold chain sector, thereby driving market growth.

Sensors are a pivotal component driving the growth of the Cold Chain RFID Market by providing essential data on environmental conditions such as temperature, humidity, and vibration. These sensors, integrated with RFID tags, continuously monitor the state of goods throughout the supply chain, ensuring that they remain within specified parameters. The real-time data collected by sensors allows for immediate detection of any deviations, enabling swift corrective actions to prevent product degradation. Advanced sensor technologies enhance the accuracy and reliability of monitoring systems, making them indispensable for maintaining the quality and safety of sensitive products. The increasing emphasis on data-driven decision-making and the need for comprehensive monitoring solutions in the cold chain industry further boost the adoption of sensors, thereby fueling the growth of the Cold Chain RFID Market.

Passive RFID systems drive the growth of the Cold Chain RFID Market by offering a cost-effective and energy-efficient solution for tracking and monitoring products. Unlike active RFID systems, passive RFID tags do not require an internal power source, making them simpler and more affordable to deploy across extensive supply chains. These tags rely on energy from RFID readers to transmit data, enabling widespread adoption without significant infrastructure investments. Passive RFID is ideal for applications where long-term monitoring and low-cost solutions are essential, such as in the transportation of pharmaceuticals and perishable foods. The scalability and durability of passive RFID systems make them suitable for diverse cold chain environments, from warehouses to refrigerated trucks. As businesses seek efficient and economical tracking solutions, the demand for passive RFID systems continues to rise, driving the expansion of the Cold Chain RFID Market.

The increasing demand for traceability in the supply chain is a major factor driving the Cold Chain RFID Market. Traceability ensures that products can be tracked from their origin to their final destination, providing transparency and accountability throughout the supply chain. In the cold chain sector, traceability is crucial for maintaining the quality and safety of temperature-sensitive products such as food, pharmaceuticals, and biologics. RFID technology enables detailed tracking and monitoring, allowing businesses to verify the integrity of their products and comply with regulatory requirements. Enhanced traceability helps in identifying and addressing issues promptly, reducing the risk of product recalls and ensuring consumer safety. The growing emphasis on traceability and the need for reliable tracking solutions significantly boost the adoption of RFID technology in the cold chain industry, driving market growth.

The rapid expansion of e-commerce is a key driver of the Cold Chain RFID Market, as the surge in online retail necessitates efficient and reliable logistics solutions for delivering temperature-sensitive products. The rise of e-commerce platforms has increased the volume of shipments that require strict temperature control, such as fresh food, beverages, and pharmaceuticals. RFID technology facilitates seamless tracking and monitoring of these shipments, ensuring that products are handled appropriately throughout the delivery process. The need for timely and accurate data on product conditions helps e-commerce businesses maintain high standards of quality and customer satisfaction. As e-commerce continues to grow globally, the demand for advanced cold chain management solutions, including RFID systems, escalates, thereby propelling the Cold Chain RFID Market.

Governments are increasingly enforcing standards that necessitate the adoption of advanced technologies like RFID to enhance supply chain transparency and accountability. Compliance with these regulations not only ensures the safety and quality of products but also fosters consumer trust, encouraging businesses to invest in RFID solutions for their cold chain operations. The regulatory push towards enhanced supply chain management significantly boosts the adoption of RFID technology, driving the growth of the Cold Chain RFID Market.

RFID technology provides precise tracking and monitoring, enabling companies to identify inefficiencies and implement corrective measures that lower operational costs. By reducing the incidence of temperature excursions and ensuring that products are maintained within optimal conditions, RFID systems help minimize spoilage and waste, leading to substantial cost savings. Additionally, the automation of inventory management and the reduction of manual labor through RFID technology enhance overall efficiency, further contributing to cost reductions. The ability to achieve higher accuracy and reliability in cold chain operations at a lower cost makes RFID an attractive investment for businesses, driving the adoption and growth of the Cold Chain RFID Market.

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COLD CHAIN RFID MARKET SHARE:

North America leads the market, driven by its advanced logistics infrastructure, high adoption rates of RFID technology in sectors like pharmaceuticals and food, and stringent regulatory standards for cold chain management.

Europe follows closely, with substantial investments in supply chain technologies, strong emphasis on sustainability, and increasing demand for temperature-sensitive products.

Key Companies:

Alien Technology
Checkpoint Systems Inc
Impinj
Invengo Technology BV
GAO RFID Inc.
Avery Dennison Corporation
Sato Holdings Corporation
Maka RFID
Nedap
Nedap N.V.
RFID4U (eSmart Source, Inc.)

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

–          RFID Cold Chain Management Market
–          Cold Chain Monitoring Devices Market
–          Radio-Frequency Identification (RFID) in Pharmaceuticals Market
–          RFID-enabled Scanners Market was estimated to be worth USD 351 Million in 2023 and is forecast to a readjusted size of USD 456.7 Million by 2030 with a CAGR of 3.9% during the forecast period 2024-2030.
–          The global Cold-Chain Temperature Loggers market was valued at USD 1120 Million in 2023 and is anticipated to reach USD 2013.3 Million by 2030, witnessing a CAGR of 9.0% during the forecast period 2024-2030.
–          Passive RFID Tags for Asset Tracking Market was estimated to be worth USD 103 Million in 2023 and is forecast to a readjusted size of USD 132.3 Million by 2030 with a CAGR of 3.6% during the forecast period 2024-2030.
–          RFID Electronic Control Card Market
–          Cold Chain Monitoring System Market was estimated to be worth USD 4977.6 Million in 2023 and is forecast to a readjusted size of USD 7248.2 Million by 2030 with a CAGR of 5.4% during the forecast period 2024-2030.
–          UHF RFID Chip Market was estimated to be worth USD 683 Million in 2023 and is forecast to a readjusted size of USD 1103.2 Million by 2030 with a CAGR of 7.1% during the forecast period 2024-2030.
–          Smart RFID Ear Tag Market was estimated to be worth USD 198 Million in 2023 and is forecast to a readjusted size of USD 263.7 Million by 2030 with a CAGR of 4.2% during the forecast period 2024-2030.
–          RFID Inventory Retail Management Market was estimated to be worth USD 7475 Million in 2023 and is forecast to a readjusted size of USD 13150 Million by 2030 with a CAGR of 8.5% during the forecast period 2024-2030.

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Fintech PR

Invitation to presentation of EQT AB’s Year-end Report 2024

Published

53 minutes ago

January 9, 2025

CISION (PR Newswire)

STOCKHOLM, Jan. 9, 2025 /PRNewswire/ — EQT AB’s Year-end Report 2024 will be published on Thursday 23 January 2025 at approximately 07:00 CET. EQT will host a conference call at 08:30 CET to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Year-end Report.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

This information was brought to you by Cision http://news.cision.com.

https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-year-end-report-2024,c4089214

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https://mb.cision.com/Main/87/4089214/3197444.pdf	Invitation to presentation of EQT ABâ€™s Year-end Report 2024
https://news.cision.com/eqt/i/eqt-ab-group,c3366832	EQT AB Group

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Fintech PR

Nium Launches Diners Club International® Card, Expanding B2B Payments Offering for Travel Industry

Published

53 minutes ago

January 9, 2025

CISION (PR Newswire)

nium-launches-diners-club-international-card,-expanding-b2b-payments-offering-for-travel-industry

Nium now provides card solutions across the four major schemes, delivering flexibility at scale for its travel customers and partners around the world

LONDON, Jan. 9, 2025 /PRNewswire/ — Nium, the leading global infrastructure for real-time cross-border payments, today announced the launch of the Diners Club International® Card for its travel customers. This milestone makes Nium one of the first global card issuers in the travel space to offer cards across the four major schemes.

Nium empowers some of the world’s largest online travel intermediaries to instantly, securely, and cost-effectively pay airlines and travel suppliers around the world using its B2B virtual card solution. Now, the introduction of the Diners Club International Card provides Nium travel customers with even greater payment flexibility, acceptance, and choice, reinforcing Nium’s position as a scheme-agnostic innovator in the travel payments industry.

“Expanding our payments offering with Diners Club International underscores Nium’s commitment to delivering innovative and flexible solutions that meet the evolving needs of the travel ecosystem,” said Mark Anthony Spiteri, SVP & Global Head of Card Business at Nium. “Building on our real-time cross-border payments network spanning over 220 markets, our ability to issue virtual cards across four of the world’s leading payment schemes – Visa, Mastercard, UATP, and now Discover – gives our customers unparalleled global access, so they can scale their businesses seamlessly across borders and industries.”

Diners Club International, which is a part of Discover® Global Network, provides travel corporations and business owners with a range of payment and expense management solutions. Diners Club Card holders benefit from acceptance at more than 55 million global merchant locations¹ and over 1.2 million ATMs, as well as access to over 1,500 airport lounges and experiences worldwide.

“The premium proposition offered by Diners Club International is perfectly aligned with Nium’s ambition to deliver best-in-class payment solutions to its travel intermediary, airline, and global partners. Diners Club International’s unique partnership model has built a strong acceptance footprint around the world. Complemented by Nium’s expansive real-time payments network, we are now able to reach even more global markets and members than before,” said Matt Sloan, Vice President, International Markets EMEA at Discover.

The addition of the Diners Club International Card will optimize costs, improve acceptance, and increase optionality for Nium’s virtual card travel customers. The new offering is available internationally. The relationship will also enhance Nium’s growing Airline Payments offering, the travel industry’s first ‘closed-loop’ B2B payment method for online travel agents and their airline partners.

To find out more about how travel intermediaries are unlocking new revenue streams, enhancing customer satisfaction, and improving efficiency with virtual card solutions, download Nium’s guide to How Virtual Cards Create an Air Travel Payments Revolution.

About Nium

Nium, the leading global infrastructure for real-time cross-border payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the global economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 220+ markets, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 40 markets. Nium’s growing card issuance business is already available in 34 countries. Nium holds regulatory licenses and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore.

¹ Based on data provided to Diners Club International by merchants, acquiring institutions and other third parties as of December 31, 2023.

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Fintech PR

Backpack Responds to FTX Statement

Published

53 minutes ago

January 9, 2025

CISION (PR Newswire)

HANOVER, Germany, Jan. 9, 2025 /PRNewswire/ — Backpack Exchange, a fully regulated global cryptocurrency exchange, today responded to statements made by FTX Trading LTD (d/b/a. FTX.com) and the FTX Recovery Trust (collectively “FTX”) regarding the recent acquisition of FTX EU.

Backpack recognizes that the sale of FTX’s European assets is a complex process and appreciates the FTX bankruptcy estate for their commitment to clarity and maximizing customer return.

We would like to issue this press statement to clarify certain statements made by the FTX estate that could potentially be confusing to FTX EU customers.

As widely reported in early 2024, FTX entered into a sale of various European assets, including FTX EU, to certain former insiders in February 2024, which was approved by the FTX bankruptcy court in March 2024 and subsequently closed in May 2024. Payments have been made to the FTX bankruptcy estate in accordance with the terms of purchase.

Subsequently, Backpack purchased the same European assets from these same insiders, which has also been completed and reflected on official publicly available German court records since June 2024.

As a licensed entity, the transfer of the FTX EU entity was subject to regulatory approval by CySec. In December 2024, CySec approved Backpack’s purchase following a lengthy diligence process. Following such approval, the FTX estate is obligated to transfer the shares as set out in the court-approved sales and purchase agreement.

We look forward to the completion of the transfer so that, like the FTX bankruptcy estate, we can begin to return customer funds to former FTX EU customers.

The FTX estate will not be responsible for the repayment of any funds owed by FTX EU to former FTX EU customers. FTX EU will be renamed to Backpack EU and Backpack EU will be solely responsible for redistributing former FTX EU customer funds.

If there is any confusion, we welcome any questions from former FTX EU users. Please do not hesitate to reach out to [email protected] with any questions.

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