- The Temperature Monitoring System Market Size, Growth driven by stringent regulations by government and organization that governs the pharmaceutical and food & beverage industries, rising applications in telecommunications and IT industry, rise in number of product launches and availability & advantages of wireless temperature monitoring systems for remote monitoring.
- The pharmaceutical and biotechnology companies segment is anticipated to register the highest CAGR of 6.1% during 2021 to 2028.
NEW YORK, Feb. 15, 2022 /PRNewswire/ -- According to the new market research report "Temperature Monitoring System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (GxP Environment and Life Science Applications, Cold Chain Applications, Vaccine, Semiconductor Manufacturing, Cleanrooms, Data Centers and Equipment Rooms, Museums and Archives, Food and Beverage Manufacturing, Chart Recorder Replacement, and Others), Type (Contact-Based Temperature Monitoring Systems {Conventional Temperature Monitoring System, Temperature Monitoring Strips and Labels, and Wireless Temperature Monitoring System} and Non-Contact-Based Temperature Monitoring Systems {Pyrometer and Infrared Thermometer Market, Thermal Imagers Market, and Fiber Optic Thermometer}), and Industry (Healthcare and Life Science Facilities, Medical Device Manufacturing Companies, Pharmaceutical and Biotechnology Companies, Food and Beverage Product Manufacturers, and Others), and Geography", published by The Insight Partners, the global temperature monitoring system market is expected to grow from $5.15 billion in 2021 to $6.85 billion by 2028; it is estimated to grow at a CAGR 4.8% during 2021 to 2028.
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Report Coverage | Details |
Market Size Value in | US$ 5.15 billion in 2021 |
Market Size Value by | US$ 6.85 billion by 2028 |
Growth rate | CAGR 4.8% from 2021 to 2028 |
Forecast Period | 2021-2028 |
Base Year | 2021 |
No. of Pages | 256 |
No. Tables | 165 |
No. of Charts & Figures | 92 |
Historical data available | Yes |
Segments covered | Application, Type, and Industry, and Geography |
Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Temperature Monitoring System Market: Competitive Landscape and Key Developments
Vaisala, Monnit Corporation, SensoScientific Inc., E-control System Inc., CenTrak, 3M, ABB, Deltatrak, Emerson Electric Co., and Honeywell International Inc. are among the key companies operating in the temperature monitoring system market. Leading players are adopting strategies such as the launch of new products, expansion and diversification of their market presence, and acquisition of new customer base for tapping prevailing business opportunities.
For instance, in December 2021, Monnit launched its new ALTA Wireless Motion+ Sensor, which combines sensing components to measure motion and occupancy, relative humidity (RH), and ambient temperature in a wide variety of facilities..
In July 2018, DeltaTrak launched its new FlashTrak PreCool Prime at the PMA Foodservice Conference & Expo, Booth 1319. FlashTrak PreCool Prime is an automated wireless solution that monitors and records temperature during pre-cooling and alerts when the correct internal produce temperature is reached.
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North America accounted for a major share of the global temperature monitoring system market in 2021. Increasing technological advancements in temperature monitoring devices, presence of large healthcare businesses, and increase in the number of warehouses and storage systems are projected to accelerate the growth of the temperature monitoring systems market. There is a rapid increase in demand for biobanks in U.S., which brings the transformative potential to the healthcare and economic system. Biobank research provides new insight into the genetic component of human disease, which generally focuses on developing an automated and personalized approach for healthcare. For instance, in February 2022, Sensitech launched the TempTale Ultra BLE, the new wireless addition to its industry-leading line of digital temperature monitoring solutions. The growing proximity of socioeconomic and geographic relationships between the United States and Mexico has led to profound public health implications for both countries. Such a factor is expected to aid the growth of the temperature monitoring systems market over the forecast period.
The temperature monitoring system market, based on application, is segmented into GxP environment and life science applications, cold chain applications, vaccine, semiconductor manufacturing, cleanrooms, data centers and equipment rooms, museums and archives, food and beverage manufacturing, chart recorder replacement, and others. The GxP environment and life science application segment held the largest share of the market in 2021 and the vaccine segment is anticipated to register the highest CAGR during the forecast period. The demand for vaccines is anticipated to increase due to the growing vaccines research by biotechnology and pharmaceutical companies.
Based on type, the temperature monitoring system market is bifurcated into contact-based temperature monitoring system and non-contact temperature monitoring system. In 2021, the contact-based temperature monitoring system segment held the largest share of the market. Moreover, the non-contact-based temperature monitoring system segment is expected to witness the highest growth during 2021-2028. The ongoing research in developing non-contact based temperature monitoring system so that it doesn't harm the product is mainly driving the growth of non-contact-based temperature monitoring system market.
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On the basis of industries, the temperature monitoring system market is segmented into healthcare and life science facilities, medical device manufacturing companies, pharmaceutical and biotechnology companies, food and beverage product manufacturers, and others. In 2021, the healthcare and life sciences segment held the largest share of the market. However, the pharmaceutical and biotechnology segment is expected fastest growth over the forecast period, owing to the rise in research activities in biotechnology and pharmaceutical field and rise in detection and diagnosis of vaious medical conditions across the globe.
Availability and Advantages of Wireless Temperature Monitoring Systems for Remote Monitoring Fuel Market Growth:
Recently, the growth of wireless measurement technology and some subtle innovations have created new ways to use temperature sensors with personal computers that help in collecting, aggregating, and analyzing the received data. For complex multi-sensor applications, the wireless temperature monitoring system eliminates the hassle of running multiple wires over long distances to the control room, instrument panel, or equipment rack while keeping track of one or two sensor applications, installing the wireless sensor, and placing up the receiver. These are the key factors anticipated to propel the temperature monitoring system market during the forecast period.
Temperature Monitoring System Market: Application Overview
Based on application, the market is segmented into into GxP environment and life science applications, cold chain applications, vaccine, semiconductor manufacturing, cleanrooms, data centers and equipment rooms, museums and archives, food and beverage manufacturing, chart recorder replacement, and others. The GxP environment and life science applications segment is likely to hold the largest share in 2021 and vaccines segment is anticipated to register the highest CAGR during the forecast period. Pharmaceutical companies worldwide adhere to GxP guidelines designed to provide consumers with safe products. These are the steps to build a pharmaceutical quality system that promises efficient management and quality and risk management. Manufacturers that run their regulated GxP workloads on the AWS Cloud realize a range of unique benefits, including enhanced traceability and trackability of what's occurring in their IT environment, near real-time testing, and enhanced setup speed. This use of GxP environment in various industries is fueling the demand of GxP environment and life sciences segment.
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