LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global wireless temperature monitoring market is expected to grow at a CAGR of more than 4% during the forecast period.
This research report titled ‘Global Wireless Temperature Monitoring Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Wireless temperature monitoring systems are used in temperature-sensitive environments. Rapid industrialization is leading to complex manufacturing processes, which is creating a demand for these systems. For instance, the increasing demand for organic crops is creating the need for more greenhouses, which, in turn, is accelerating the demand for wireless temperature monitoring systems. Similarly, the increasing use of internet and the increasing complexity of data management have led to widespread adoption of data centers, which also make use of wireless temperature monitoring extensively.
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Technavio’s heavy industry research analysts categorize the global wireless temperature monitoring market into the following segments by end-user. They are:
- Commercial sector
- Pharmaceutical sector
- Food and beverage industry
- Electronics industry
- Oil and gas industry
- Other industries
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The top three revenue-generating end-user segments of the global wireless temperature monitoring market are discussed below:
Commercial sector
The commercial sector comprises data centers, server rooms, hospitals, hotels, office spaces, educational institutions, etc. Developing economies are venturing into the commercial sector more than developed economies. Developing markets represented more than half of the global construction market because construction activities were a result of urbanization and industrialization.
According to Anju Ajay Kumar, a lead test and measurement research analyst from Technavio, “The dynamics of the economic structures across several nations are expected to create demand for commercial spaces during the forecast period. Commercial spaces like hotels and hospitals use wireless temperature monitoring systems to monitor the conditioned air circulated in their premises to set a comfortable ambiance.”
Pharmaceutical sector
The pharmaceutical industry uses wireless temperature monitoring systems to keep an eye on the temperature condition of blood bank units, ambulances, operation theaters, drug manufacturing units, and other temperature-sensitive spaces.
“The increasing awareness about preventive healthcare among the growing population, which is striving to lead a longer and healthier life, has created a demand for new pharmaceutical facilities essentially equipped with wireless temperature monitoring systems. These developments in the healthcare industry will boost the growth of the global wireless temperature monitoring market in the coming years,” adds Anju.
Food and beverage industry
The food and beverage industry uses wireless temperature monitoring systems for maintaining temperatures in cold storage stores, warehouses, retail stores, and supermarkets. Food and beverage industry produces perishable edible items and hence maintaining them under specific temperature conditions is important.
The major demand in the food industry in the US is expected to arise from packaged food retail. Many new investments are being planned in cities such as New York, New Jersey, and Pennsylvania. Growth in this industry is expected to lead to increased investments in the industry and thereby propel demand for warehouses and thus for wireless temperature monitoring system.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Emerson
- IMC
- Thermo Fisher Scientific
- SensoScientific
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