At 4.5% CAGR, the North America Temperature Monitoring Systems Market is projected to be worth US$ 3,038.65 million by 2028, says Business Market Insights       

According to Business Market Insights’ research, the North America temperature monitoring systems market was valued at US$ 2,234.89 million in 2021 and is expected to reach US$ 3,038.65 million by 2028, registering an annual growth rate of 4.5% from 2021 to 2028. Stringent regulations governing food & beverage and pharmaceutical industries and rise in number of product launches are the critical factors attributed to the market expansion.            

Temperature-related issues cause the pharmaceutical sector dearly. Maintaining the potency of medications and vaccines is more difficult due to compliance, legal regulations, and environmental conditions. Temperature-sensitive pharmaceuticals pass through numerous stages and inspections before arriving at their final destinations, making them vulnerable to various environmental conditions such as temperature, light, humidity, and cleanliness while in storage and transit. As a result, it is critical to get appropriate equipment and procedures to monitor their temperature frequently to ensure that product quality is not affected. Temperature monitoring is an essential part of pharmaceutical quality control. Temperature is monitored using various technologies, alerting the system to any irregularities. Regulatory requirements apply to businesses that aim to conduct research, manufacture, store, transport, or sell pharmaceutical items. In addition to official regulations, some critical associations are issuing guidance documents supporting and detailing the regulations and their application in specific situations. Therefore, the regulatory framework is a living organism that changes almost daily with new laws becoming effective and new guidance documents being published. The pharmaceutical industry's regulatory requirements and guidelines are becoming increasingly stringent. Pharmaceutical products (medicines, vaccines, etc.) in production and storage and molecules studied during the pre-clinical phase or tested during clinical trials must be monitored in real-time as part of the pharmaceutical cold-chain monitoring procedure (in refrigerators and -80°C freezers, etc.). This must be done to avoid temperature excursions or other anomalies in CO2, relative humidity, or differential pressure. Food and beverages need to be produced and stored at specific temperatures to maintain their quality. Maintaining a proper temperature is required to protect perishable food items stored in refrigerators or freezers. Food that is not appropriately stored can get spoiled or contaminated. Many facilities are employing food temperature monitoring systems. These systems assure continuous monitoring of valuable food and beverages. They immediately alert a user to act fast and avoid financial losses when food inventory is at risk. Thus, stringent regulations governing food & beverages and pharmaceutical industries demands the use of temperature monitoring systems which is a major factor fueling factor for market growth. 

On the contrary, technical limitations of infrared and mercury thermometers hurdles the growth of North America temperature monitoring systems market. 

Based on application, the North America temperature monitoring systems market is segmented into GxP environment and life science applications, cold chain applications, vaccine, semiconductor manufacturing, cleanrooms, data centers and equipment rooms, museums and archives, food and beverage manufacturing, chart recorder replacement, and others. The GxP environment and life science applications segment held 25.1% market share in 2021, amassing US$ 561.40 million. It is projected to garner US$ 732.88 million by 2028 to expand at 3.9% CAGR during 2021–2028.   

Based on type, the North America temperature monitoring systems market is bifurcated into contract-based temperature monitoring systems and non-contract-based temperature monitoring systems. The contract-based temperature monitoring systems segment held 65.0% market share in 2021, amassing US$ 1,451.63 million. It is projected to garner US$ 1,901.83 million by 2028 to expand at 3.9% CAGR during 2021–2028. The contract-based temperature monitoring systems segment is further segmented into conventional temperature monitoring system, temperature monitoring strips and labels, and wireless temperature monitoring system. The non-contract-based temperature monitoring systems segment is further segmented into pyrometer and infrared thermometer market, thermal imagers market, and fiber optic thermometer.      

Based on industries, the North America temperature monitoring systems market is segmented into healthcare and life science facilities, medical device manufacturing companies, pharmaceutical and biotechnology companies, food and beverage product manufacturers, and others. The healthcare and life science facilities segment held 45.6% market share in 2021, amassing US$ 1,018.44 million. It is projected to garner US$ 1,391.81 million by 2028 to expand at 4.6% CAGR during 2021–2028. The healthcare and life science facilities segment is further segmented into healthcare providers, pharmacies, patient monitoring and home care settings, blood banks and tissue banks and diagnostic labs and ivf clinics, and others.

Based on country, the North America temperature monitoring systems market has been categorised into the US, Canada, and Mexico. Our regional analysis states that the US captured 84.9% market share in 2021. It was assessed at US$ 1,896.97 million in 2021 and is likely to hit US$ 2,555.81 million by 2028, exhibiting a CAGR of 4.4% during the forecast period.   

Key players dominating the North America temperature monitoring systems market are 3M, ABB Ltd., CenTrak, Deltatrak Inc., E-Control Systems Inc., Emerson Electric Co., Honeywell International Inc., Monnit Corporation, SensoScientific Inc., and Vaisala  among others.   

• In Jan 2022, Vaisala acquires US-based Whether or Knot, LLC (dba AerisWeather), a subscription-based software company providing weather and environmental information. Through AerisWeather they are expanding their offering and opening access to several new customer segments with their leading data offering.
• In July 2018, DeltaTrak announced its new FlashTrak PreCool Prime at the PMA Foodservice Conference & Expo, Booth 1319.FlashTrak PreCool Prime is an automated wireless solution that monitors and records temperature during pre-cooling, and alerts when correct internal produce temperature is reached.    

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