Temperature measurement and monitoring is an important component across industries where temperature sensitive products are manufactured, transported or stored. Variations in temperature can change the texture and characteristics of these products, and lead to considerable losses for the company. The growth of cloud computing is enabling companies to monitor temperature readings remotely. The temperature reading is converted to a digital signal, and sent to the cloud for either logging or instantaneous monitoring. Furthermore, algorithms are set in a manner to allow the companies to trigger alerts when the temperature rises or drops beyond the threshold limit. ELPRO-BUCHS AG, for instance, provides a cloud-based continuous temperature monitoring solution which is compliant with GxP regulations. Automated alerts are sent via an SMS once the temperature threshold is crossed. The product is available for US$ 310 per measuring point. The rise in temperature variation detection requirement in industries which are facilitated by the growth of IoT is leading to the growth of the global temperature monitor’s market.
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The COVID-19 pandemic has caused a paradigm shift in the approach of businesses towards employee hygiene and safety. Companies are increasingly taking measures to ensure that the employees that show COVID-19 symptoms are isolated with the help of temperature monitoring solutions. Furthermore, with work from home options being provided to the employees to prevent the spread of the virus, temperature monitoring of critical infrastructure like servers in data centers is being done remotely. The officials are being alerted through continuous digital temperature monitoring systems in case of temperature variations. Therefore, the global temperature monitors market seems to be an attractive investment option in the coming years, and the COVID-19 pandemic is expected to have a positive impact on this market.
The detailed research study provides qualitative and quantitative analysis of temperature monitors market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- In terms of revenue, the global temperature monitors market was valued at US$ 4727.49 Mn in 2019, and is expected to grow at a CAGR of 6.79 % during the forecast years (2021 – 2029).
- Portable temperature monitors are expected to show high growth rate in the global temperature monitors market during the forecast years. The ease in handling of portable monitors, coupled with their lower costs that makes it affordable for the SMEs, is expected to help in the higher growth.
- The product segment accounted for the highest share in the global temperature monitors market in 2019. The higher demand for ready-to-use products in industries is a major reason for this.
- Some of the players operating in the temperature monitors market are 3M, ABB, Carrier (SENSITECH), DeltaTrak Inc., Dickson, Emerson Electric Co., Fluke Corporation, Geratherm Medical AG, HONEYWELL INTERNATIONAL INC., Kelsius, Medtronic, Microlife Corporation, MONNIT CORPORATION, OMEGA Engineering, OMRON Corporation, Rees Scientific, ROTRONIC AG, SensoScientific, Inc., Siemens, Terumo Corporation, Testo SE & Co. KGaA, Thermo Fisher Scientific Inc. , Vaisala, Welch Allyn, amongst others.
Global Temperature Monitors Market:
By Offering
- Products
- Services
- Training and Consulting
- Design and Development
- Implementation and Maintenance
- Others
By Monitoring Type
- Continuous Temperature Monitoring
- Instantaneous Temperature Monitoring
By Type
- Contact-based
- Contactless
- Pyrometers and Infrared Thermometers
- Thermal Imagers
- Fiber Optic Thermometers
By End-User
- Healthcare and Pharmaceutical
- Laboratories
- Hospitals and Clinics
- Blood Banks
- Research Labs
- Others
- Food and Beverages
- Energy and Utilities
- Oil and Gas
- Manufacturing
- Chemical
- Automotive
- Transportation and Logistics
- Others
By Technology
- Analog
- Digital
By Distribution Channel
- Online
- Offline
By Mobility
- Portable
- Non-Portable
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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