Temperature Monitoring Systems Market By Product Type (Contact-based Temperature Monitoring Systems & Non-contact-based Temperature Monitoring Systems), By End-use Vertical (Food & Beverage, Healthcare, Semiconductor & Electronics, Automotive, Transportation & Logistics, Oil & Gas, and Others) - Growth, Future Prospects, and Competitive Landscape, 2018 - 2026

The global temperature monitoring systems market was valued at US$ 3,976.2 Mn in 2017 and is expected to grow at a CAGR of 4.2% from 2018 to 2026.

North America is the market leader, with Asia Pacific expected to grow faster during the forecast period.

In 2017, North America led the global market for temperature monitoring systems in terms of value contribution. The region accounted for over 35% of the global temperature monitoring systems market in the same year. The dominance is largely credited to a combination of factors, including the growing adoption of wireless variants among the pharmaceutical and food and beverage industries, stringent regulatory requirements for ensuring product quality across these industry verticals, and technological advances leading to the replacement of existing units with state-of-the-art variants.

On the other hand, Asia Pacific is poised to register relatively superior growth during the forecast period from 2018 to 2026. The anticipated demand will be driven by steady growth in the industrial sector and an increasing number of healthcare facilities in the region.

Rise in adoption of non-contact-based units to complement market growth during the forecast period

Contact-based temperature monitoring systems contributed the most value to global temperature monitoring systems in 2017. These systems, being the conventional and most widely recognized monitoring solutions across industry verticals, account for the majority of the market share. The trend is expected to continue, and the segment is expected to register steady growth through 2026.

On the other hand, non-contact-based temperature monitoring solutions are estimated to register a relatively higher adoption rate during the forecast period from 2018 to 2026. The demand for non-contact-based monitoring units will be driven by the growing emphasis on continuous temperature monitoring across temperature-sensitive applications such as patient care, cold storage, and server room maintenance, among others.

Key Players:

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

Periods of History and Forecast

This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2016 to 2026, considering 2017as the base year for the research. The CAGR (compound annual growth rate) for each segment and sub-segment is calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

Key questions are answered in this report.

• In 2016 and 2017, how big was the global market for temperature monitoring systems?
• What are the estimated forecasts 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 market for temperature monitoring systems 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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