New York, March 16, 2021 (GLOBE NEWSWIRE) -- The global temperature monitoring systems market size is expected to reach USD 6.6 billion by 2028 at a CAGR of 4.2%, according to a new report by Reports and Data. The surging demand for non-contact-based temperature monitoring devices, the growing e-commerce activities, and increasing adoption in the food & beverage, pharmaceutical, and manufacturing sectors for product safety and quality preservation are among the factors majorly supporting the growth of the global temperature monitoring systems market. The rising importance of temperature monitoring systems in storage facilities and warehouses, the expanding transportation & logistics industry, and a significant surge in export & import activities worldwide have further propelled the global market growth. The rising prevalence of contagious diseases, such as the deadly COVID-19, increasing use of temperature monitoring systems across hospitals & clinics for patient temperature monitoring, and the growing research & development activities in the life sciences segment create potential growth avenues for the market.
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Temperature monitoring systems are devices that control and regulate the temperature of a specific area, usually one where large-scale production or storage of goods takes place. These systems help maintain the freshness, quality, and safety of these products, thereby curbing the possibility of waste generation. The escalating adoption of advanced temperature monitoring systems across the food & beverage, biotechnology, pharmaceutical, medical device manufacturing, chemical, and transportation & logistics industries is a crucial driver for the global market growth. The food & beverage sector extensively employs these systems to preserve the quality of perishable foods and ensure their safety during storage or transit, or storage. Moreover, the pharmaceutical industry uses temperature monitoring systems for temperature-sensitive drugs and vaccines to safeguard their quality and efficacy throughout the production and distribution cycles. However, various disadvantages associated with wireless temperature monitoring systems, such as higher costs and longer installation time, pose threats to the market growth in the upcoming years.
Temperature Monitoring Systems Market, By Product Type (Contact-based Temperature Monitoring Systems, Non-contact-based Temperature Monitoring Systems), By Application (Cold Storage Temperature Monitoring, Manufacturing Area Temperature Monitoring, Laboratory Temperature Monitoring, Hospital Room and Patient Temperature Monitoring, Others), By End-user (Healthcare Facilities, Pharmaceutical & Biotechnology Companies, Medical Device Manufacturing Companies, Food and Beverage Industry, Chemical and Petrochemical Industries, Energy & Power Industry, Others), and By Region, Forecast to 2028; To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/temperature-monitoring-systems-market
Key Highlights of the Report:
- Based on product type, the non-contact-based temperature monitoring systems segment is forecast to account for the highest revenue share in the coming years. The surging demand for contactless temperature monitoring systems in the healthcare sector in the wake of the fast-spreading COVID-19 infection is a key parameter fueling this segment’s growth.
- In terms of application, the hospital room and patient temperature monitoring segment is projected to retain the largest market share over the estimated period. The growing geriatric populace, the surging rate of hospital visits and admissions, and the rising burden of COVID-19 infections have boosted the growth of this segment.
- The temperature monitoring systems market in North America is poised to emerge as the leading regional market over the forecast timeline, with the highest revenue. The thriving healthcare sector in the region, the expanding manufacturing and e-commerce industries, and strict government regulations regarding product safety & quality stimulate the North America market development.
- Abb Ltd., Testo AG, 3M Company, Isensix, Inc., Siemens AG, DeltaTrak, Inc, Koninklijke Phillip, Terumo Corporation, Omron Healthcare, Briggs Healthcare, Rees Scientific, Monnit Corporation, Omega Engineering, Honeywell International Inc., Emerson Electric Company, SensoScientific, Inc., and Cooper-Atkins Corporation are the leading market players.
- In October 2020, Masimo, the noted American medical technology company, launched the Radius T Continuous Thermometer. The new temperature monitoring device is a connected sensor system that can gauge a patient’s temperature in real-time and offer warning alerts to the user.
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For the purpose of this report, the global temperature monitoring systems market has been segmented based on product type, application, end-user, and region:
By Product Type (Revenue, USD Billion; 2018-2028)
- Contact-based Temperature Monitoring Systems
- Conventional Temperature Monitoring Systems
- Wireless Temperature Monitoring Systems
- Temperature Measuring Strips and Labels
- Non-contact-based Temperature Monitoring System
- Thermal Imagers
- Fiber Optic Thermometers
- Pyrometers and Infrared Thermometers
By Application (Revenue, USD Billion; 2018-2028)
- Cold Storage Temperature Monitoring
- Manufacturing Area Temperature Monitoring
- Laboratory Temperature Monitoring
- Hospital Room and Patient Temperature Monitoring
- Home Care Temperature Monitoring
- Green House Temperature Monitoring
- Server Room Temperature Monitoring
By End-user (Revenue, USD Billion; 2018-2028)
- Healthcare Facilities
- Healthcare Providers
- Blood Banks, Tissue Banks, IVF Clinics, and Diagnostic Labs
- Patient Monitoring & Home Care Settings
- Others
- Pharmaceutical and Biotechnology Companies
- Medical Device Manufacturing Companies
- Food and Beverage Industry
- Chemical and Petrochemical Industries
- Energy & Power Industry
- Others (Automotive, aerospace & defense, electronics, metal & mining, etc.)
By Region (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of the Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of the Middle East & Africa
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