Report : South America Temperature Monitoring Systems Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Application (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), Type (Contract-Based Temperature Monitoring Systems and Non-Contract-Based Temperature Monitoring Systems), and Industries (Healthcare and Life Science Facilities, Medical Device Manufacturing Companies, Pharmaceutical and Biotechnology Companies, Food and Beverage Product Manufacturers, and Others)
At 5.1% CAGR, the SAM Temperature Monitoring Systems Market is speculated to be worth US$ 275.37 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the SAM temperature monitoring systems market was valued at US$ 194.40 million in 2021 and is expected to reach US$ 275.37 million by 2028, registering an annual growth rate of 5.1% from 2021 to 2028. The growing demand for non-contact-based thermometers and untapped potential of emerging economies and are the critical factors attributed to the market expansion.
Thermometers based on infrared sensors enable accurate non-contact temperature measurements in healthcare applications. The main uses of this type of thermometer include measuring forehead temperature, ear temperature, or skin temperature. The temperature detector contains some thermocouples on a silicon clip to measure the infrared energy of the object. Moreover, as the number of cases of COVID-19 increases, social distance norms are strictly adhered to even in some organizations and different residential areas. Due to this factor, the demand for non-contact thermometers based on infrared sensors increases across the region. Hence, to meet the potential demand for thermometers, some companies prefer an inorganic strategic partnership to manufacture digital infrared thermometers. As highly contagious diseases are rapidly spreading across the region, the use of non-contact thermometers is becoming a medical necessity. To detect viral or bacterial infections, it is necessary to measure accurate body temperature, preferably without contact, to prevent the spread of the disease within the healthcare system. Additionally, recent innovations have reduced manufacturing costs, improved the reliability of these non-contact thermometers, and opened the door to many new applications. Four key factors – application, equipment accuracy, reliability, and budget, help determine the type of non-contact measurement instrument to use. Thus, the growing demand for non-contact-based thermometers is anticipated to be a market trend in the coming years.
On the contrary, technical limitations of infrared and mercury thermometers hurdles the growth of SAM temperature monitoring systems market.
Based on application, the SAM 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 30.2% market share in 2021, amassing US$ 58.70 million. It is projected to garner US$ 83.72 million by 2028 to expand at 5.2% CAGR during 2021–2028.
Based on type, the SAM 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 64.0% market share in 2021, amassing US$ 124.39 million. It is projected to garner US$ 173.69 million by 2028 to expand at 4.9% 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 SAM 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 40.2% market share in 2021, amassing US$ 78.12 million. It is projected to garner US$ 108.34 million by 2028 to expand at 4.8% 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 SAM temperature monitoring systems market has been categorised into Brazil, Argentina, and rest of SAM. Our regional analysis states that rest of SAM captured 38.2% market share in 2021. It was assessed at US$ 74.16 million in 2021 and is likely to hit US$ 102.74 million by 2028, exhibiting a CAGR of 4.8% during the forecast period.
Key players dominating the SAM 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 April 2020, E-Control Systems released latest version of FusionLive IoT Platform, including a fully integrated newly designed dashboard specifically created in collaboration with some of the largest and most well-respected Life Science Labs, Healthcare Facilities, College/Universities, K-12 schools, and QSRs.
- In Feb 2020, ABB lanched a new Smart Temperature Monitoring Relay, which aims to meet different customer needs with just one versatile device. Innovations include an LCD screen that provides status updates and readings with a single glance and Near Field Communication (NFC) that enables users to adjust settings with one touch of a smartphone, making installation around 80 percent faster and more intuitive than ever before.
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