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, air conditioning, and cooling technology.
Due to remote sensors' presence, the outdoor thermometers market will see significant growth. The outdoor thermometer's preliminary purpose is to measure the building temperature during construction. 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 the 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
A 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, and easy availability. Most 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 substantial analog thermometers, although they are looking to upgrade, making the digital thermometer segment the fastest growing.
The Asia Pacific to Register the Fastest Growth
The global outdoor thermometer industry is divided into North America, Europe, Asia Pacific, and the 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.
Some prominent outdoor thermometer market players 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. In addition, the report provides a holistic view of the global outdoor thermometer market based on application, type, and geography. Key segments covered in the report are as follows:
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 (the 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 (the Middle East & Africa, Latin America)
Unique data points of this report
Key growth factors, challenges, and current trends pertaining to 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
Frequently asked questions :
The market for Outdoor Thermometer Market is expected to reach US$ XX Bn in 2027.
The Outdoor Thermometer Market is expected to see significant CAGR growth over the coming years, at 5.4%.
The report is forecasted from 2019-2027.
The base year of this report is 2018.
A&D Medical, Opto Circuits Ltd., Exergen Corporation, Microlife Corporation, Omron Healthcare Inc. are some of the major players in the global market.
