Increasing demand from automotive HUDs to bolster the market growth
The global outdoor thermometer market worldwide is expected to grow with a CAGR of 5.4% during the forecast period from 2019 to 2027, starting from US$ 0.32 Bn in 2018. An outdoor thermometer provides outdoor temperature measurement. Usually used outside the house, these outdoor thermometers are also used in some installations such as heat & power plants, heat pumps, ventilation heating and air conditioning as well as cooling technology.
Due to the presence of remote sensors, the market for outdoor thermometers will see significant growth. The outdoor thermometer's preliminary purpose is to measure the building temperature during the construction process. Engineers use outdoor thermometers to maintain a building in order to get the inside building's fast air temperature. Usually this is done by swaying the bulb in air and attaching it to an instrument to get a quicker reading as the bulb detects the temperature faster than a sensor built into the instrument.
Market Synopsis
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Digital segment to witness the fastest growth over the projected timeframe
The rising demand for highly efficient digital thermometers is majorly driving the global outdoor thermometers market. Digital thermometers are currently in trend owing to ease of use, high accuracy as well as easy availability. Most of the players are now focusing on developing newer, improved and more accurate digital thermometers to cater to the emerging demand. Analog thermometers, however, dominated the market in 2018 owing to less penetration of digital thermometers. Various organizations are currently using the substantial analog thermometers, although, they are looking to upgrade which is making the digital thermometer segment to be the fastest growing.
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Asia Pacific to Register the Fastest Growth
The global outdoor thermometer industry is divided into North America, Europe, Asia Pacific and Rest of the World on a regional basis. The industry is characterized by an increase in the adoption in these regions of different types of temperature monitoring devices for various applications.
Due to the presence of a large number of research and academic institutions using thermometers for laboratory and industrial purposes, the market is dominated by North America. In addition, the increasing use of non-perishable food products in the food industry is expected to help maintain dominance.
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Some of the prominent players operating in the outdoor thermometer market include Opto Circuits Limited; A&D Medical; Microlife Corporation; Exergen Corporation; Radiant Innovation Inc.; Omron Healthcare, Inc.; Terumo Corporation; Geratherm Medical AG; Welch Allyn and Citizen Systems among others.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The outdoor thermometer market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global outdoor thermometer market based on application, type and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| Segmentation |
Type Segment (2017–2027; US$ Bn)
• Analog
• Digital
|
|
Application Segment (2017–2027; US$ Bn)
• Retail Chains
• Others
|
|
Geography Segment (2017–2027; US$ Bn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
Key questions answered in this report
- What region or segment will drive or lead the market growth?
- What is the top player positioning in the global outdoor thermometer market
- What are the major sustainability strategies adopted by major players in the global market?
- What will be the impact of major drivers and restraints on the growth of the global outdoor thermometer market?
Unique data points of this report
- Key growth factors, challenges and current trends pertaining in the global market
- Major strategies adopted by market giants
- Qualitative analysis through SWOT, and industry chain analyses
- Comprehensive quantitative analysis of key segments and regions
