The North America temperature monitoring systems market is expected to grow from US$ 2,234.89 million in 2021 to US$ 3,038.65 million by 2028; it is estimated to grow at a CAGR of 4.5% from 2021 to 2028.
The temperature monitoring systems market is characterized by the presence of many small and big companies.To increase their market share, market players are taking up various strategies such as new product launches, regional expansion, and technological advancements.
Temperature monitoring systems are safer and more effective than ever with continued innovation and technological advances, which is leading to increased acceptance of temperature monitoring systems.Leading players are investing in R&D to develop advanced technologies and gain more revenue share.
For instance, in December 2021, Monnit launched its new ALTA Wireless Motion+ Sensor, which combines sensing components to measure motion and occupancy, relative humidity (RH), and ambient temperature in a wide variety of facilities.Similarly, in February 2020, ABB launched a new Smart Temperature Monitoring Relay, which is targeted to meet different customer requirements 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) which allows users to adjust settings with one touch of a smartphone, making installation around 80% faster and more intuitive than ever before. The active participation of market players in product innovation and development and the increase in approvals of products are likely to fuel the growth of the temperature monitoring systems market in the coming years.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets.This factor is likely to drive the North America temperature monitoring systems market.
The North America temperature monitoring systems market is expected to grow at a good CAGR during the forecast period.
North America Temperature Monitoring Systems Market Revenue and Forecast to 2028 (US$ Million)
North America Temperature Monitoring Systems Market Segmentation
The North America temperature monitoring systems market is segmented based on application, type, industry, and country.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 dominated the market in 2021.In terms of 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 dominated the market in 2021.The market for the contract-based temperature monitoring systems segment is further segmented into conventional temperature monitoring systems, temperature monitoring strips and labels, and wireless temperature monitoring systems.
The market for the non-contract-based temperature monitoring systems segment is further categorized into pyrometer and infrared thermometers, thermal imagers, and fiber optic thermometers. 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 dominated the market in 2021. The market for the healthcare and life science facilities segment is further divided 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 categorized into the US, Canada, and Mexico. The US dominated the market in 2021.
3M, ABB Ltd., CenTrak, Deltatrak Inc., E-Control Systems Inc., Emerson Electric Co., Honeywell International Inc., Monnit Corporation, SensoScientific Inc., and Vaisala are among the leading companies in the North America temperature monitoring systems market.