Global Temperature Monitoring Systems Market Forecast to 2028
The global temperature monitoring systems market size is expected to reach USD 6.23 billion in 2028 at a steady CAGR, according to the latest analysis by Emergen Research. Major factors driving market revenue growth are increasing adoption of temperature monitoring systems across a wide range of end-use sectors, technological advancements in temperature monitoring technology, rising investment in technological research activities, and growing demand for advanced temperature monitoring devices. A temperature monitoring system helps to capture fluctuations in a patient's body temperature or monitor indoor climatic conditions and provides timely notifications. Major components of these systems are sensing technology, a thermal buffer, data storage, a temperature measurement system, an alarm, and software.
By carefully analyzing the vital commercial data and broad geographic dispersion of the business, Emergen Research created a market research study on Temperature Monitoring Systems. The study provides comprehensive coverage of the qualitative and quantitative analysis of the market for Temperature Monitoring Systems as well as important market statistics. The study paper offers current estimates through 2021 as well as historical data from 2017 to 2018. The profiles of both well-known and emerging industry participants in the research contain a summary of the company, its product portfolio, strategic relationships, and corporate expansion goals.
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Competitive Terrain:
The global Temperature Monitoring Systems industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
3M, Abb Ltd., Deltatrack, Emerson Electric, Fluke Corporation, Honeywell, Monnit Corporation, Omega Engineering, Rees Scientific, and SensoScientific, Inc
Research Report on the Temperature Monitoring Systems Market Addresses the Following Key Questions:
- Who are the dominant players of the Temperature Monitoring Systems market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Temperature Monitoring Systems market?
- What are the key growth drivers and restraining factors of the Temperature Monitoring Systems market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Temperature Monitoring Systems market and its key segments?
Market Overview:
The report bifurcates the Temperature Monitoring Systems market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Product Outlook (Revenue, USD Billion; 2018–2028)
- Contact-based Temperature Monitoring Systems
- Conventional Temperature Monitoring Systems
- Wireless Temperature Monitoring Systems
- Temperature Measuring Strips and Labels
- Thermal Imagers
- Pyrometers & IR Thermometers
- Fiber Optic Thermometers
- Technology Outlook (Revenue, USD Billion; 2018–2028)
- Analog
- Digital
- Application Outlook (Revenue, USD Billion; 2018-2028)
- Greenhouse
- Cold Storage
- Hospital Room and Patient Monitoring
- Laboratory Temperature
- Manufacturing Area
- Others
Regional Landscape section of the Temperature Monitoring Systems report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Findings From the Report:
- In May 2020, Zook introduced a medical-grade thermometer named Infra Temp. This device offers contactless temperature recording of a patient in less than one second.
- Non-contact-based temperature monitoring system segment revenue is expected to register a 3.9% CAGR throughout the forecast period. This can be attributed to growing requirement for continuous temperature measurement during manufacturing or research and development activity in various application sectors.
- Asia Pacific is expected to register the fastest revenue CAGR throughout the forecast period, which can be attributed to rapid development in e-commerce and industrial sectors, and increasing number of healthcare facilities.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Temperature Monitoring Systems market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
- Data and information related to the consumption rate in each region
- Estimated increase in the consumption rate
- Proposed growth of the market share of each region
- Geographical contribution to market revenue
- Expected growth rate of the regional markets
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