DUBLIN--(BUSINESS WIRE)--The "Temperature Monitoring System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application, Type, and Industry, and Geography" report has been added to ResearchAndMarkets.com's offering.
The global temperature monitoring systems market is expected to grow from US$ 5.15 billion in 2021 to US$ 6.85 billion by 2028; it is estimated to grow at a CAGR 4.8% during 2021-2028.
The market growth is mainly attributed to stringent regulations governing the food & beverage and pharmaceutical industries and rise in the number of product launches for remote monitoring are driving the market.
A temperature monitoring system has become an essential part of hospitals, clinics, food businesses, and other industries in recent years. With a temperature monitoring system, a person can easily track, control, and regulate the products' temperature in a specific environment.
A temperature monitoring system makes sure that temperature-dependent products stay safe when they are being transported from one place to another.
The temperature monitoring systems market is characterized by the presence of many small and big companies. To increase their market share, market players are taking up various strategies such as new product launches, regional expansion, and technological advancements.
Temperature monitoring systems are safer and more effective than ever with continued innovation and technological advances, leading to increased acceptance of temperature monitoring systems. Leading players are investing in research and development activities to develop advanced products and gain more revenue share.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the temperature monitoring systems market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global temperature monitoring systems market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
Market Dynamics
Drivers
- Stringent Regulations Governing Food & Beverage and Pharmaceutical Industries
- Rise in Number of Product Launches
- Availability and Advantages of Wireless Temperature Monitoring Systems for Remote Monitoring
Restraints
- Technical Limitations of Infrared and Mercury Thermometers
Opportunities
- Untapped Potential of Emerging Economies
Future Trends
- Growing Demand for Non-Contact-Based Thermometers
Companies Mentioned
- 3M
- Abb Ltd.
- Deltatrack
- Emerson Electric
- Fluke Corporation
- Vaisala
- Monnit Corporation
- Omega Engineering
- SensoScientific Inc.
- E-Control Systems Inc.
For more information about this report visit https://www.researchandmarkets.com/r/qehpv0
