Dublin, Feb. 26, 2019 (GLOBE NEWSWIRE) -- The "Temperature Monitoring Systems Market by Product (Monitor, Strip, Handheld, Wireless, Pyrometer, IR, Camera, Fiber Optic), Application (Cold Storage, Greenhouse, Life science, Patient), End user, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global temperature monitoring systems market was valued at USD 3,842.0 million in 2018. It is expected to reach USD 5,007.0 million by 2024, at a CAGR of 4.4% from 2019 to 2024.
The global temperature monitoring systems market includes instrument or devices used to measure and monitor the temperature in processes such as product manufacturing, storage, transportation, and distribution and during the manufacturing process to monitor area temperature.
The growth of this market is driven by rising manufacturing activity across a range of industries, as well as stringent regulations to ensure product quality (particularly in the food & beverage and pharmaceutical sectors).
Technological advancements have introduced systems that are more efficient and capable of meeting a greater variety of needs than their predecessors did, which has stimulated their overall adoption. In healthcare, the growing patient population and increasing disease prevalence are direct drivers of market growth. Rising R&D activity is also expected to contribute to market prospects in the coming years. The global temperature monitoring systems market is segmented into contact-based and non-contact-based temperature monitoring systems.
The contact-based temperature monitoring systems segment is expected to account for the largest share of the global temperature monitoring systems market. It was valued at an estimated USD 2,933.4 in 2018 and is projected to grow at a CAGR of 4.6 from 2019 to 2024. The wide application of these devices in various industries and their easy availability are the key factors stimulating the growth of this market segment.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
3.1 Introduction
4 Premium Insights
4.1 Temperature Monitoring Systems :Market Overview
4.2 Temperature Monitoring Systems :Market Share, By Product, 2018
4.3 Temperature Monitoring Systems :Market, By End User, 2019 vs 2024 (USD Million)
4.4 Temperature Monitoring Systems :Market, By Application, 2019 vs 2024 (USD Million)
4.5 Temperature Monitoring Systems :Market, By Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.3 Drivers
5.3.1 Expansion in the Secondary Manufacturing Sector
5.3.2 Stringent Regulations Governing the Food and Beverage and Pharmaceutical Industries
5.3.3 Technological Advancements
5.3.4 Rising Patient Population and Diagnostics & Surgical Procedures
5.3.5 Increasing Diagnostic & Life Sciences Research
5.4 Restraints
5.4.1 High Prices of Advanced Products
5.5 Opportunities
5.5.1 Growth Opportunities in Emerging Markets
5.6 Challenges
5.6.1 Technical Limitations Associated With IR and Mercury Thermometers
6 Temperature Monitoring Systems Market, By Type
6.1 Introduction
6.2 Contact-Based Temperature Monitoring Systems
6.2.1 Conventional Temperature Monitoring Systems
6.2.1.1 Limitations of Sensors Used in Conventional Temperature Monitoring Systems to Restrain Market Growth
6.2.2 Temperature Measuring Strips and Labels
6.2.2.1 Wide Usage of Temperature Measuring Strips and Labels in the Manufacturing Processes of Several Industries to Drive Market Growth
6.2.3 Wireless Temperature Monitoring Systems
6.2.3.1 Wireless Temperature Monitoring Systems to Witness Significant Adoption in Various Applications Owing to Advantages Such as Lower Installation and Operating Costs
6.3 Non-Contact-Based Temperature Monitoring Systems
6.3.1 Pyrometers and Infrared Thermometers
6.3.1.1 Requirement of Precise Temperature Monitoring in Several Industrial Manufacturing Processes to Drive the Adoption of Pyrometers and IR Thermometers
6.3.2 Thermal Imagers
6.3.2.1 High Cost of Thermal Imagers to Restrain Market Growth to A Certain Extent
6.3.3 Fiber Optic Thermometers
6.3.3.1 Ability of Fiber Optic Thermometers to Withstand Harsh Conditions to Support Their Adoption in Various Industries
7 Temperature Monitoring Systems Market, By End User
7.1 Introduction
7.2 Healthcare & Life Science Facilities
7.2.1 Healthcare Providers
7.2.1.1 Significant Number of Road Accidents and Emergency Room Admissions and the Resultant Increase in the Number of Surgeries to Drive Growth in This End-User Segment
7.2.2 Blood Banks, Tissue Banks, Diagnostic Labs, and Ivf Clinics
7.2.2.1 Extensive Use of Temperature Maintenance Systems Among These End Users to Reduce the Risk of Contamination is A Key Market Driver
7.2.3 Patient Monitoring & Home Care Settings
7.2.3.1 High Cost of Advanced Temperature Monitoring Devices in Patient Care is Limiting Their Adoption in This End-User Segment
7.2.4 Other Healthcare & Life Science Facilities
7.3 Medical Device Manufacturing Companies
7.3.1 Rising Research and Development Activities to Launch Innovative Medical Devices to Support the Growth of the Segment
7.4 Pharmaceutical & Biotechnology Companies
7.4.1 Stringent Regulations in the Pharmaceutical Sector Boosting the Adoption of Temperature Monitoring Systems
7.5 Chemical & Petrochemical Manufacturers
7.5.1 Rising Demand for and Production of Various Chemicals and Petroleum From Different Industrial Verticals Across the Globe is Aiding the Growth of This Market
7.6 Food & Beverage Product Manufacturers
7.6.1 Availability of Systems Specifically for Food & Beverage Manufacturers to Support Market Growth
7.7 Energy & Power Generation Companies
7.7.1 Increase in the Global Demand for and Consumption of Energy Drives the Market
7.8 Other End Users
8 Temperature Monitoring Systems Market, By Application
8.1 Introduction
8.2 Cold Storage Temperature Monitoring
8.2.1 Growth of the Food and Beverage Industry - One of the Major Factors Driving the Demand for Cold Storage Temperature Monitoring
8.3 Greenhouse Temperature Monitoring
8.3.1 Favorable Government Regulations and Incentives for Greenhouses and Poly Houses to Support the Growth of This Application Segment
8.4 Server Room Temperature Monitoring
8.4.1 Industry Recommendations for Proper Temperature Management in Data Centers to Support the Growth of This Application Segment
8.5 Hospital Room Temperature Monitoring
8.5.1 Stringent Regulations for Comprehensive Temperature Monitoring in Healthcare Facilities to Drive the Demand for Hospital Room Temperature Monitoring
8.6 Patient Temperature Monitoring
8.6.1 Rising Prevalence of Infectious Diseases and Increasing Number of Surgeries to Support the Growth of This Application Segment
8.7 Laboratory Temperature Monitoring
8.7.1 Guidelines By Various Regulatory Bodies Related to Laboratory Temperature and Humidity Requirements to Drive the Demand for Laboratory Temperature Monitoring
8.8 Manufacturing Area Temperature Monitoring
8.8.1 Increased Production and Manufacturing in Several Industries to Drive the Demand for Manufacturing Area Temperature Monitoring
9 Temperature Monitoring Systems Market, By Region
10 Competitive Landscape
10.1 Overview
10.2 Market Ranking Analysis, 2017
10.3 Competitive Scenario
10.3.1 Product Launches
10.3.2 Acquisitions
10.3.3 Contracts
10.3.4 Expansions
11 Company Profiles
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