Temperature Monitoring Systems Market by Type (Wireless, Strip, Pyrometer, IR), Application (Patient Monitoring, Lab, Manufacturing, Cold Storage, Home Care, Server), End User (Healthcare, Food, Pharma, Energy, Semi-conductor) - Global Forecast to 2030
The global temperature monitoring systems market is projected to reach USD 4.15 billion in 2024 to USD 5.66 billion by 2030, at a CAGR of 5.3% during the forecast period. The growing safety standards for temperature-sensitive industries is one of the major factors anticipated to boost market growth in the forecasting years. Additionally, the high installion cost of temperature monitoring systems in emerging economies affects the growth of the temperature monitoring systems market.
Scope of the Report
Years Considered for the Study
2022-2030
Base Year
2023
Forecast Period
2024-2030
Units Considered
Value (USD)
Segments
Product, Type, Application, End user, and Region
Regions covered
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
"The contact-based temperature monitoring systems segment to hold the largest share of the market in 2024."
Based on type, temperature monitoring systems is segmented into non-contact-based temperature monitoring systems and contact-based temperature monitoring systems. The contact-based temperature monitoring systems segment is expected to dominate the temperature monitoring systems market during the forecast period. The contact-based temperature monitoring systems segment is further divided into conventional temperature monitoring systems, wireless temperature monitoring systems, and temperature measuring strips and labels. With the growing prevalence of infectious diseases, system and software enhancements, and the increasing adoption of wireless temperature monitoring systems worldwide leads to the growth of this market segment.
"The monitoring systems segment to hold the largest share of the market in 2024."
Based on product, the temperature monitoring systems market is segmented into monitoring systems and the software & services. The temperature monitoring systems market is expected to be dominated by monitoring systems segment during the forecast period. The monitoring systems segment id further segmented into analog and digital monitoring systems. The monitoring systems are expected to grow due to rise in demand of wearable devices for personal health monitoring and increase awareness of health in individuals leading to use of home based temperature monitoring systems.
"The hospitals companies segment to hold the largest share of the market in 2024."
The end user market is segmented into food & beverage product manufacturers, healthcare & life science facilities, chemical & petrochemical manufacturers, medical device manufacturing companies, pharmaceutical & biotechnology companies, semiconductor & electronics companies, energy & power generation companies, and other end users. Healthcare & life science facilities accounted for the largest share of the global temperature monitoring systems market during the forecasted years. This can be attributed to the major applications and large demand of temperature monitoring systems accounted by hospital sector and the growing number of hospitals in emerging countries.
"The market in the APAC region is expected to register highest growth rate for Temperature monitoring systems in 2024."
The temperature monitoring systems market covers five key geographies-North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2023, a significant market share for temperature monitoring systems was held by the market in the North American region, comprising the US and Canada. On the other hand, the Asia Pacific market is estimated to register the highest growth rate during the forecast period. The increasing market penetration opportunities in emerging APAC countries led to the growth of the temperature monitoring systems market in this region.
A breakdown of the primary participants referred to for this report is provided below:
By Company Type: Tier 1- 31%, Tier 2- 49%, and Tier 3- 20%
By Designation: Directors- 19%, C-level- 28%, and Others- 53%
By Region: North America- 31%, Europe- 33%, Asia Pacific- 19%, Latin America- 10%, MEA- 7%
The prominent players in the Temperature monitoring systems market are 3M (US), Cardinal Health (US), Emerson Electric (US), Honeywell International Inc. (US), Koninklijke Philips N.V. (Netherlands), ABB (US), Fortive Corporation (US), Thermo Fisher Scientific (US), Siemens AG (Germany), Masimo (Japan), Toshiba (Japan), Welch Allyn (US) and Geratherm Medical AG (Switzerland), among others.
Research Coverage
This report studies the temperature monitoring systems market based on product, type, application, end user, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their market presence.
This report provides insights on the following pointers:
Analysis of key drivers (Expansion in the secondary manufacturing sector, Growing safety standards for temperature-sensitive industries, Increasing adoption of wireless temperature monitoring systems for remote monitoring, Rising patient population and the subsequent increase in the number of diagnostic and surgical procedures, Impending patent cliff), restraints (High prices of advanced products and installation cost in developing countries), opportunities (Increasing adoption of IoT and AI technologies, Rising infectious diseases and medical tourism in emerging markets), and challenges (Technical limitations associated with infrared and mercury thermometers) influencing the growth of the temperature monitoring systems market
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the temperature monitoring systems market
System Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and system developments in the temperature monitoring systems market
Market Development: Comprehensive information on lucrative emerging regions
Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the temperature monitoring systems market
Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and services of the leading market players.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKET SEGMENTATION & GEOGRAPHICAL SPREAD
1.3.2 INCLUSIONS & EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.3.4 CURRENCY CONSIDERED
1.4 MARKET STAKEHOLDERS
1.5 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Objectives of secondary research
2.1.1.2 List of secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Objectives of primary research
2.2 MARKET ESTIMATION METHODOLOGY
2.2.1 REVENUE MAPPING-BASED MARKET ESTIMATION
2.2.1.1 Segmental revenue share analysis
2.2.2 USAGE-BASED MARKET ESTIMATION
2.2.3 TOP-DOWN APPROACH
2.2.4 VOLUME DATA ANALYSIS
2.2.5 PRIMARY RESEARCH VALIDATION
2.3 DATA TRIANGULATION
2.4 STUDY ASSUMPTIONS
2.5 RESEARCH LIMITATIONS
2.6 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 TEMPERATURE MONITORING SYSTEMS MARKET OVERVIEW
4.2 CONTACT-BASED TEMPERATURE MONITORING SYSTEMS MARKET, BY TYPE, 2024 VS. 2030 (USD MILLION)
4.3 EUROPE: TEMPERATURE MONITORING SYSTEMS MARKET, BY PRODUCT AND COUNTRY, 2023
4.4 TEMPERATURE MONITORING SYSTEMS MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES
4.5 TEMPERATURE MONITORING SYSTEMS MARKET: REGIONAL MIX, 2022-2030
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Expansion of secondary manufacturing sector
5.2.1.2 Rising safety standards for temperature-sensitive industries
5.2.1.3 Growing adoption of wireless temperature monitoring systems
5.2.1.4 Rising patient population and increasing number of diagnostic and surgical procedures
5.2.1.5 Impending patent cliff
5.2.2 RESTRAINTS
5.2.2.1 High price and installation cost of advanced products in emerging economies
5.2.3 OPPORTUNITIES
5.2.3.1 Increasing adoption of IoT and AI technologies
5.2.3.2 High focus on medical tourism in emerging economies
5.2.4 CHALLENGES
5.2.4.1 Technical limitations in infrared and mercury thermometers
5.3 REGULATORY ANALYSIS
5.3.1 REGULATORY FRAMEWORK
5.3.1.1 North America
5.3.1.1.1 US
5.3.1.1.2 Canada
5.3.1.2 Europe
5.3.1.3 Asia Pacific
5.3.1.3.1 China
5.3.1.3.2 Japan
5.3.1.3.3 India
5.3.1.4 Latin America
5.3.1.4.1 Brazil
5.3.1.4.2 Mexico
5.3.1.5 Middle East
5.3.1.6 Africa
5.3.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.4 VALUE CHAIN ANALYSIS
5.4.1 RESEARCH & PRODUCT DEVELOPMENT
5.4.2 RAW MATERIAL PROCUREMENT AND MANUFACTURING
5.4.3 DISTRIBUTION, MARKETING & SALES, AND POST-SALES SERVICES
5.5 SUPPLY CHAIN ANALYSIS
5.5.1 PROMINENT COMPANIES
5.5.2 SMALL & MEDIUM-SIZED ENTERPRISES
5.5.3 DISTRIBUTORS
5.5.4 END USERS
5.6 ECOSYSTEM ANALYSIS
5.7 PORTER'S FIVE FORCES ANALYSIS
5.7.1 INTENSITY OF COMPETITIVE RIVALRY
5.7.2 BARGAINING POWER OF SUPPLIERS
5.7.3 BARGAINING POWER OF BUYERS
5.7.4 THREAT OF SUBSTITUTES
5.7.5 THREAT OF NEW ENTRANTS
5.8 KEY STAKEHOLDERS & BUYING CRITERIA
5.8.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.8.2 KEY BUYING CRITERIA
5.9 TRADE ANALYSIS
5.9.1 IMPORT DATA FOR HS CODE 902519
5.9.2 EXPORT DATA FOR HS CODE 902519
5.10 PATENT ANALYSIS
5.10.1 LIST OF MAJOR PATENTS
5.11 PRICING ANALYSIS
5.12 TECHNOLOGY ANALYSIS
5.12.1 KEY TECHNOLOGIES
5.12.1.1 Sensor technologies
5.12.1.2 Thermal imaging
5.12.1.3 IoT and cloud integration
5.12.1.4 AI and ML
5.12.2 COMPLEMENTARY TECHNOLOGIES
5.12.2.1 Connectivity and networking
5.12.2.2 Energy harvesting
5.12.2.3 Automation and control systems
5.12.2.4 Wearable and portable technologies
5.12.3 ADJACENT TECHNOLOGIES
5.12.3.1 Humidity sensing technologies
5.12.3.2 Dew point monitoring
5.13 KEY CONFERENCES & EVENTS, 2025-2026
5.14 TRENDS/DISRUPTIONS IMPACTING CUSTOMER'S BUSINESS
5.15 INVESTMENT & FUNDING SCENARIO
5.16 UNMET NEEDS
5.17 IMPACT OF AI/GEN AI ON TEMPERATURE MONITORING SYSTEMS MARKET
6 TEMPERATURE MONITORING SYSTEMS MARKET, BY PRODUCT
6.1 INTRODUCTION
6.2 MONITORING SYSTEMS
6.2.1 ANALOG MONITORING SYSTEMS
6.2.1.1 Cost-effectiveness and durability to support adoption in small-scale industries and research facilities
6.2.2 DIGITAL MONITORING SYSTEMS
6.2.2.1 Seamless IoT and cloud integration to fuel market growth
6.3 SOFTWARE & SERVICES
6.3.1 DATA MANAGEMENT & MONITORING SOLUTIONS
6.3.1.1 Better efficiency, compliance, and operational control in data storage and management to drive adoption
6.3.2 PREDICTIVE ANALYTICS
6.3.2.1 Better decision-making and reduced costs to augment segment growth
6.3.3 MAINTENANCE & CALIBRATION SERVICES
6.3.3.1 Technological advancements and better operational efficiency to drive market growth
6.3.4 OTHER SOFTWARE & SERVICES
7 TEMPERATURE MONITORING SYSTEMS MARKET, BY TYPE
7.1 INTRODUCTION
7.2 CONTACT-BASED TEMPERATURE MONITORING SYSTEMS
7.2.1 CONVENTIONAL TEMPERATURE MONITORING SYSTEMS
7.2.1.1 Wide end-user base and easy market availability to aid segment growth
7.2.2 WIRELESS TEMPERATURE MONITORING SYSTEMS
7.2.2.1 Lower installation and operating costs to augment segment growth
7.2.3 TEMPERATURE MEASURING STRIPS AND LABELS
7.2.3.1 Cost-effectiveness and immediate visual feedback to increase market adoption
7.3 NON-CONTACT-BASED TEMPERATURE MONITORING SYSTEMS
7.3.1 PYROMETERS AND INFRARED THERMOMETERS
7.3.1.1 Need for precise monitoring in industrial manufacturing processes to fuel uptake
7.3.2 THERMAL IMAGERS
7.3.2.1 Cost-effective installation and focus on reduced manufacturing downtime to propel market growth
7.3.3 FIBER OPTIC THERMOMETERS
7.3.3.1 Ability to withstand harsh and corrosive environments to boost adoption in refineries, chemical plants, and power plants
8 TEMPERATURE MONITORING SYSTEMS MARKET, BY APPLICATION
8.1 INTRODUCTION
8.2 COLD STORAGE TEMPERATURE MONITORING
8.2.1 NEED FOR ADVANCED COLD STORAGE FACILITIES IN FOOD & BEVERAGE INDUSTRIES TO AID MARKET GROWTH
8.3 HOSPITAL ROOM AND PATIENT TEMPERATURE MONITORING
8.3.1 INCREASING NEED FOR REAL-TIME TEMPERATURE MONITORING TO DRIVE ADOPTION IN HOSPITALS
8.4 MANUFACTURING AREA TEMPERATURE MONITORING
8.4.1 GROWING AWARENESS REGARDING REAL-TIME AND REMOTE TEMPERATURE MONITORING TO DRIVE MARKET
8.5 LABORATORY TEMPERATURE MONITORING
8.5.1 GROWING INCLINATION OF RESEARCHERS TO DEVELOP IN-HOUSE PROTOCOLS TO SUPPORT MARKET GROWTH
8.6 SERVER ROOM TEMPERATURE MONITORING
8.6.1 INCREASED FOCUS ON INDUSTRIAL USAGE OF TEMPERATURE MANAGEMENT STRATEGIES IN DATA CENTERS TO DRIVE MARKET
8.7 GREENHOUSE TEMPERATURE MONITORING
8.7.1 NEED FOR REAL-TIME TEMPERATURE FLUCTUATION-RELATED ALERTS TO PROPEL MARKET GROWTH
8.8 HOME CARE TEMPERATURE MONITORING
8.8.1 INCREASING NUMBER OF CRITICAL SURGICAL PROCEDURES REQUIRING LONG-TERM REHABILITATION TO AID MARKET GROWTH
9 TEMPERATURE MONITORING SYSTEMS MARKET, BY END USER
9.1 INTRODUCTION
9.2 HEALTHCARE & LIFE SCIENCE FACILITIES
9.2.1 PATIENT MONITORING & HOME CARE SETTINGS
9.2.1.1 Increased awareness about constant temperature monitoring and high demand for advanced monitoring devices to drive market
9.2.2 HEALTHCARE PROVIDERS
9.2.2.1 Increasing focus on patient care and optimized workflow to drive market growth
9.2.3 BLOOD BANKS, TISSUE BANKS, DIAGNOSTIC LABORATORIES, AND IVF CLINICS
9.2.3.1 Temperature monitoring to be essential for reducing risk of contamination and increasing success rates of IVF cycle
9.2.4 OTHER HEALTHCARE & LIFE SCIENCE FACILITIES
9.3 CHEMICAL & PETROCHEMICAL MANUFACTURERS
9.3.1 RISING DEMAND FOR CHEMICALS AND PETROLEUM PRODUCTION FROM INDUSTRIAL VERTICALS TO PROPEL MARKET GROWTH
9.4 FOOD & BEVERAGE MANUFACTURERS
9.4.1 INCREASING EMPHASIS ON PROPER MAINTENANCE OF FOOD QUALITY TO FUEL MARKET GROWTH
9.5 ENERGY & POWER GENERATION COMPANIES
9.5.1 TEMPERATURE MONITORING TO BE USED FOR OPERATIONAL EFFICIENCY AND WORKFORCE SAFETY IN ENERGY & POWER PLANTS
9.6 PHARMACEUTICAL & BIOTECHNOLOGY COMPANIES
9.6.1 STRINGENT MANUFACTURING REGULATIONS IN PHARMACEUTICAL DRUG DEVELOPMENT AND MANUFACTURING TO DRIVE ADOPTION
9.7 MEDICAL DEVICE MANUFACTURING COMPANIES
9.7.1 IMPROVED MEDICAL INFRASTRUCTURE AND HIGH FOCUS ON PATIENT SAFETY TO AUGMENT MARKET GROWTH
9.8 SEMICONDUCTOR & ELECTRONICS COMPANIES
9.8.1 INCREASING INTEGRATION OF IOT AND AI IN TEMPERATURE MONITORING SOLUTIONS TO FUEL MARKET GROWTH
9.9 OTHER END USERS
10 TEMPERATURE MONITORING SYSTEMS MARKET, BY REGION
10.1 INTRODUCTION
10.2 NORTH AMERICA
10.2.1 MACROECONOMIC OUTLOOK FOR NORTH AMERICA
10.2.2 US
10.2.2.1 US to dominate North American temperature monitoring systems market during study period
10.2.3 CANADA
10.2.3.1 Stringent regulations for product safety in cosmeceutical, and pharmaceutical industries to aid market growth
10.3 EUROPE
10.3.1 MACROECONOMIC OUTLOOK FOR EUROPE
10.3.2 GERMANY
10.3.2.1 Increasing R&D activities and rising number of pharmaceutical and biotechnology clusters to augment market growth
10.3.3 UK
10.3.3.1 Stringent regulatory framework for food safety and increased government R&D investment to fuel market growth
10.3.4 FRANCE
10.3.4.1 Increasing adoption of temperature monitoring systems among research experts to fuel uptake
10.3.5 SPAIN
10.3.5.1 High demand for pharmaceutical cold chain logistics to support market growth
10.3.6 ITALY
10.3.6.1 Growth in drug manufacturing and vaccine production in cold chains to spur market growth
10.3.7 NORDIC REGION
10.3.7.1 Need for effective pharmaceutical and food cold chain logistics to drive market
10.3.8 REST OF EUROPE
10.4 ASIA PACIFIC
10.4.1 MACROECONOMIC OUTLOOK FOR ASIA PACIFIC
10.4.2 JAPAN
10.4.2.1 Large geriatric population and advanced healthcare infrastructure to surge demand in hospitals
10.4.3 CHINA
10.4.3.1 Rising exports of temperature-sensitive goods in electronics, pharmaceuticals, and food & beverage industries to drive market
10.4.4 INDIA
10.4.4.1 Increasing public focus on food safety & drug quality regulations to drive adoption of temperature monitoring systems
10.4.5 SOUTH KOREA
10.4.5.1 Rapidly growing pharmaceutical sector in vaccine manufacturing and biologics to drive market
10.4.6 AUSTRALIA
10.4.6.1 Increased popularity of IoT-enabled temperature monitoring systems to augment market growth
10.4.7 REST OF ASIA PACIFIC
10.5 LATIN AMERICA
10.5.1 MACROECONOMIC OUTLOOK FOR LATIN AMERICA
10.5.2 BRAZIL
10.5.2.1 Increasing healthcare budget on biologics and stringent pharmaceutical laws to propel market growth
10.5.3 MEXICO
10.5.3.1 Developed pharmaceutical industry to drive adoption of advanced temperature monitoring systems
10.5.4 REST OF LATIN AMERICA
10.6 MIDDLE EAST & AFRICA
10.6.1 MACROECONOMIC OUTLOOK FOR MIDDLE EAST & AFRICA
10.6.2 GCC COUNTRIES
10.6.2.1 Adoption of renewable energy projects to propel market growth
10.6.3 REST OF MIDDLE EAST & AFRICA
11 COMPETITIVE LANDSCAPE
11.1 INTRODUCTION
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
11.2.1 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN TEMPERATURE MONITORING SYSTEMS MARKET
11.3 REVENUE ANALYSIS, 2019-2023
11.4 MARKET SHARE ANALYSIS, 2023
11.4.1 MONITORING SYSTEMS MARKET RANKING
11.4.2 SOFTWARE & SERVICES MARKET RANKING
11.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
11.5.1 STARS
11.5.2 EMERGING LEADERS
11.5.3 PERVASIVE PLAYERS
11.5.4 PARTICIPANTS
11.5.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
11.5.5.1 Company footprint
11.5.5.2 Region footprint
11.5.5.3 Product footprint
11.5.5.4 Type footprint
11.5.5.5 Application footprint
11.5.5.6 End-user footprint
11.6 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023