Temperature Monitoring Systems Global Market Report 2024

The temperature monitoring systems market size has grown strongly in recent years. It will grow from $4.76 billion in 2023 to $5.13 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The expansion observed in the historical period can be ascribed to heightened manufacturing endeavors spanning diverse industries, technological strides in temperature monitoring systems, escalating requirements for precise temperature monitoring solutions, amplified focus on operational efficiency and safety across multiple sectors.

The temperature monitoring systems market size is expected to see strong growth in the next few years. It will grow to $6.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The projected expansion in the forthcoming period can be credited to ongoing advancements in temperature monitoring technologies, the incorporation of AI and machine learning for sophisticated data analysis, surging uptake of cloud-based temperature monitoring solutions, and the need for remote monitoring functionalities in environments sensitive to temperature fluctuations. Key trends anticipated in the forecast period encompass a transition towards predictive maintenance and condition monitoring within temperature monitoring systems, heightened emphasis on data security and privacy in temperature monitoring solutions, the emergence of edge computing for instantaneous data processing in temperature monitoring, the proliferation of temperature monitoring as a service model for economical solutions, and the integration of blockchain technology for safeguarding temperature data management.

The surge in demand for warehousing and storage services is anticipated to drive the growth of the temperature monitoring systems market in the foreseeable future. Warehousing and storage facilities serve as crucial hubs for temporarily housing goods and inventory, providing businesses with essential space and management infrastructure until products are ready for distribution or sale. The heightened demand for warehousing and storage services is primarily propelled by the escalating activities in e-commerce and the increasing complexities within global supply chains. Temperature monitoring systems play a pivotal role in ensuring precise control and monitoring of temperature conditions within warehousing and storage facilities, thereby safeguarding the integrity and quality of stored goods. For instance, data from the Brazilian Institute of Geography and Statistics in November 2023 highlights a significant rise in Brazil's storage capacity during the first half of 2023, with an increase of 4.8% to 201.4 million metric tons compared to the previous semester. This growth is accompanied by a 3% increase in the number of storage establishments, further underlining the pivotal role of temperature monitoring systems in meeting the demands of expanding warehousing and storage infrastructure.

Key players within the temperature monitoring systems market are actively engaged in developing innovative solutions such as the CubiSens XT1 temperature tracker to elevate real-time monitoring capabilities and ensure the integrity of temperature-sensitive products across the supply chain. The CubiSens XT1 tracker leverages diverse sensor technologies to accurately measure and record temperature conditions during various stages of product transportation and storage. For instance, CubeWorks, a prominent US-based technology company, introduced the CubiSens XT1 in September 2022, with a focus on providing comprehensive monitoring solutions for agricultural processes. This innovative solution integrates various sensors and technologies to gather data on environmental conditions, crop health, soil moisture, and other relevant factors, empowering farmers to make informed decisions, optimize resource usage, and enhance efficiency and sustainability in agriculture.

In March 2021, Vortex Technology Group LLC, a leading US-based trenchless water and sewer technologies company, acquired ZIA Systems LLC. This acquisition facilitated the integration of ZIA Systems' CMS (Curing Monitoring System) and CiPPi temperature monitoring technology for Cured-In-Place Pipe trenchless rehabilitation applications under the single brand name of VeriCure. ZIA Systems LLC, a renowned US-based provider of temperature monitoring systems, further strengthens Vortex Technology Group's portfolio, positioning it for enhanced competitiveness and innovation in the temperature monitoring solutions market.

Major companies operating in the temperature monitoring systems market are Siemens AG, Thermo Fisher Scientific Inc., Honeywell International Inc., 3M Company, ABB Ltd., Toshiba Inc., Cooper-Atkins Corporation, Koninklijke Phillips, Emerson Electric Company, Terumo Corporation, Fluke Process Instruments, Banner Engineering Corporation, Omron Healthcare, Rees Scientific, Vaisala Corporation, A & D Company Ltd., Testo AG, KTR Kupplungstechnik GmbH, Omega Engineering, Exergen Corporation, DeltaTrak Inc., Monnit Corporation, SensoScientific Inc., Imec Messtechnik GmbH, Isensix Inc.

North America was the largest region in the temperature monitoring systems market in 2023. The regions covered in the temperature monitoring systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the temperature monitoring systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A temperature monitoring system is a technology used to measure and track temperatures across various environments, including industrial facilities, laboratories, medical settings, and commercial spaces. These systems typically include sensors, data loggers, and software applications for real-time monitoring, data collection, analysis, and alerting.

The main product types of temperature monitoring systems are contact-based and non-contact-based. Contact-based systems use sensors that physically touch the object to measure temperature. They find applications in various sectors such as cold storage, manufacturing areas, laboratories, hospitals, home care, greenhouses, and server rooms. These systems are utilized by industries such as healthcare, food and beverage, pharmaceuticals, chemicals, and others.

The temperature monitoring systems market research report is one of a series of new reports that provides temperature monitoring systems market statistics, including temperature monitoring systems industry global market size, regional shares, competitors with a temperature monitoring systems market share, detailed temperature monitoring systems market segments, market trends and opportunities, and any further data you may need to thrive in the temperature monitoring systems industry. This temperature monitoring systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The temperature monitoring systems market consists of revenues earned by entities by providing services such as calibration services, validation and compliance services, maintenance and repair, cloud hosting, and data management. The market value includes the value of related goods sold by the service provider or included within the service offering. The temperature monitoring systems market also includes sales of temperature monitoring labels and indicators, refrigerator and freezer temperature monitoring systems, temperature monitoring alarms, and temperature monitoring software. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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