March 31, 2020
Temperature Monitoring System

Temperature Monitoring Systems Market Is Expected To Double-Digit Growth From 2019-2027

The global market for temperature monitoring systems was valued at US$ 3,976.2 million in 2017 and is expected to expand to CAGR by 4.2 per cent during the 2018-2026 forecast.

Temperature monitoring is one of the most important elements of the industrial production process. May it is alloy melting in the automotive industry, production of glass syringes in the life sciences industry or foil thermoforming in the plastics industry, temperature monitoring and measurement is a prerequisite for activity across the entire production line. An undetected inconsistency in temperature across production processes can lead to machine downtime and cost the company millions of dollars. Considering and understanding the consequences, on-site temperature monitoring systems are being deployed by manufacturers/companies across the globe.

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[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

While the deployment of temperature monitoring systems was largely confined to industry verticals such as food & beverage, automotive, electronics, and oil and gas at the outset, technological advances have extended the use of these devices in commercial & corporate segments. The use of temperature monitoring units at IT locations such as data centers and server rooms helps to avoid heat build-up and enables business organizations to track critical temperatures across sites. In addition, the advent of wireless temperature monitoring systems has enabled end-users to achieve automated and real-time internet temperature monitoring. The need for continuous/regular temperature monitoring remains the main driver of market growth worldwide. Advances in technology have led to the introduction of more efficient and feature-rich temperature monitoring variants, driving the demand for replacement. The trend is widespread, especially in developed economies such as North America and Europe.

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Transport & Logistics is one of the fastest-growing segments in the vertical sector due to the spread of e-commerce. The increase in the e-commerce sector has led to an increase in the number of warehouses and storage facilities where specific temperatures need to be maintained. As a result, the rise in e-commerce activities is identified as the main driver of demand for global temperature monitoring systems. In addition, industry verticals, including pharmaceuticals and food & drinks, are presumed to witness a stronger adoption of temperature monitoring systems due to the requirement to maintain the desired temperature due to the perishable characteristics of the products in these verticals.

Some of the leading manufacturers identified in the research study include 3M Company, ABB Ltd., Emerson Electric, Honeywell International Inc., Deltatrack, Siemens AG, Thermo Fisher Scientific, Testo AG, Fluke Corporation (Subsidiary of Fortive Corporation), Kelsius, Ltd., Rees Scientific, Omega Engineering (A Subsidiary of Spectris), and Monnit Corporation, among others.

Key questions answered in this report

  • What was the global temperature monitoring systems market size in 2016 & 2017?
  • What is the estimated forecast and market projections from 2018 up to 2026?
  • Which is the largest regional market for temperature monitoring systems?
  • Which product variant contributes the largest revenue worldwide?
  • Which end-use segment (industry vertical) has the highest penetration of temperature monitoring systems worldwide?
  • Predominant trends shaping the global temperature monitoring systems market worldwide
  • Who are the leading manufacturers in the global temperature monitoring systems market worldwide?
  • What are the key strategies adopted by the leading manufacturers in the global temperature monitoring systems market?

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