Temperature Monitoring Systems Market Size & Growth Analysis to 2030

The global temperature monitoring systems market size is accounted to register a significant CAGR of around 4% during the forecast period 2021 to 2027. The continuously growing manufacturing industry coupled with the stringent regulations to enhance product quality is a major factor to drive the market growth. Furthermore, technological advancement, rising demand for disposable thermometer, and cost-effectiveness are further anticipated to boost the market growth. Moreover, the increasing adoption of the product in various end-use industries such as food & beverage, healthcare, semiconductors & electronics, and oil & gas is expected to fuel the market growth over the forecast period.

Market Drivers

Stringent Regulatory Standards: Various industries, such as healthcare, food and beverage, pharmaceuticals, and logistics, are subject to strict regulatory standards for temperature monitoring. Compliance with regulations, such as Good Manufacturing Practices (GMP) and Good Distribution Practices (GDP), drives the adoption of temperature monitoring systems to ensure product safety and quality.

Increasing Focus on Quality Control: Industries across sectors are placing greater emphasis on maintaining product quality throughout the supply chain. Temperature-sensitive products, such as vaccines, biologics, perishable foods, and chemicals, require precise temperature monitoring to prevent spoilage, degradation, or loss of efficacy. This drives the demand for temperature monitoring systems to ensure quality control.

Growing Need for Cold Chain Management: The expansion of global trade, particularly in perishable goods, fuels the demand for effective cold chain management. Temperature monitoring systems play a crucial role in monitoring and maintaining optimal temperature conditions during transportation and storage of temperature-sensitive products, such as vaccines, drugs, and fresh produce.

Increasing Awareness of Food Safety: With rising consumer awareness and concerns about food safety, there is a growing demand for systems that can ensure the freshness and safety of food products. Temperature monitoring systems help track and maintain appropriate temperature conditions in storage facilities, processing plants, and transportation vehicles, minimizing the risk of foodborne illnesses.

Technological Advancements in Sensor Technology: Advancements in sensor technology have led to the development of more accurate, reliable, and cost-effective temperature monitoring systems. Improved sensor accuracy, wireless connectivity, cloud-based data storage, and real-time monitoring capabilities have expanded the applications of temperature monitoring systems across various industries.

Expansion of Healthcare Facilities: The healthcare sector, including hospitals, clinics, and pharmacies, is witnessing significant growth globally. Temperature monitoring systems are essential for monitoring temperature-sensitive medications, vaccines, blood products, and laboratory samples, ensuring their efficacy and compliance with storage requirements.

Increasing Adoption of IoT and Automation: The Internet of Things (IoT) and automation technologies are revolutionizing the temperature monitoring systems market. IoT-enabled temperature monitoring systems allow remote monitoring, real-time alerts, and data analytics, enabling proactive temperature management, reducing manual errors, and optimizing operational efficiency.

Focus on Energy Efficiency: Energy efficiency is a key concern for industries, including manufacturing and building automation. Temperature monitoring systems can help optimize energy consumption by providing precise temperature control and enabling efficient HVAC (Heating, Ventilation, and Air Conditioning) systems.

Growing Demand for Data Analytics: Temperature monitoring systems generate a vast amount of data that can be leveraged for analysis and optimization. The adoption of data analytics tools and techniques enables businesses to gain insights into temperature patterns, identify inefficiencies, and implement improvements in processes and systems.

Increasing Need for Real-time Monitoring and Alerts: Industries are increasingly relying on real-time temperature monitoring and alerts to mitigate risks and ensure prompt action. Temperature monitoring systems provide instant notifications through SMS, email, or mobile applications in case of temperature deviations, allowing timely intervention and minimizing potential losses.

Market Snapshot

Market Insights

The global temperature monitoring systems market is bifurcated into product type, industry verticals, and geography. On the basis of product type, the market is further segmented into contact-based and non-contact-based systems. The contact-based segment is accounted to hold a significant market share in 2020 due to its wide use in various industry verticals. On the other hand, the non-coated-based systems segment is accounted to grow at the fastest growth rate over the forecast period. The rising adoption, growing emphasis on continuous temperature monitoring, and the increasing activities in the manufacturing industry are some major factors to contribute the segment growth.

On the basis of industry verticals, the market is segmented into food & beverage, healthcare, semiconductors & electronics, oil & gas, automotive, and others. The healthcare segment held a significant revenue share of the global temperature monitoring systems market. The increasing demand for contactless thermometers in healthcare facilities due to the growing geriatric population and the increasing incidence of infectious diseases around the world is a prominent factor to drive the segment growth. Furthermore, the growing surgical procedures and the increasing demand for advanced temperature monitoring devices are further expected to fuel the segment growth over the forecast period.

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The temperature monitoring systems comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The temperature monitoring systems market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation

By Product Type:

• Contact-based
• Non-contact-based

By Industry Vertical:

• Food & Beverage
• Healthcare
• Semiconductors & Electronics
• Oil & Gas
• Automotive
• Transportation & Logistics
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage

Geographically, North America dominated the global temperature monitoring systems market in 2020 and accounted to hold the largest revenue share of over one-third percent of the market. The increasing adoption of the product in various end-use industries such as pharmaceuticals and food & beverage is a major factor to drive the market growth in the region. Furthermore, technological advancement and the regulation to enhance product quality are further anticipated to fuel the market growth in North America.  On the other hand, the Asia Pacific is accounted to grow at the fastest CAGR over the forecast period due to the increasing number of healthcare facilities.

Competitive Assessment

Some of the major market players operating in the global temperature monitoring systems market are 3M Company, Emerson Electric, ABB Ltd., Deltatrack, and Honeywell International Inc. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• 3M Company
• Emerson Electric
• ABB Ltd.
• Deltatrack
• Honeywell International Inc.
• Thermo Fisher Scientific
• Siemens AG
• Kelsius, Ltd.
• Testo AG
• Rees Scientific

Key Questions Answered by Temperature Monitoring Systems Market Report

• Global temperature monitoring systems market forecasts from 2021-2027
• Regional temperature monitoring systems market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
• Temperature monitoring systems submarket forecasts from 2021-2027 covering the market by product type, by industry verticals, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to temperature monitoring systems market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level temperature monitoring systems markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the temperature monitoring systems market