Pune, India, Jan 27, 2022 (GLOBE NEWSWIRE) – Global temperature monitoring system market Volume is expected to reach $4.71 billion by 2028 from $2.19 billion in 2021, registering a compound annual growth rate of 11.5% over the forecast period. The increasing demand for this monitoring system along with technological advancements in thermometers could have a tremendous impact on the market growth in the coming years, according to a Fortune Business Insights report, titled “Temperature Monitoring System Market, 2021-2028. ” The market size reached US$1.66 billion in 2020.
October 2020 – Massimo introduced Radius T.the Continuous thermometer. The innovative wearable and wireless thermometer can continuously record the body temperature and send notifications on the user’s smartphone.
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Introducing the latest temperature monitors to enable expansion
The expansion of this market has helped increase the demand for temperature monitors across the world, particularly during the Covid-19 pandemic. Several companies have produced digital thermometers for obtaining accurate and reliable readings of body temperature in response to the growing demand for such devices. These devices are equipped with the latest technologies that prevent fluctuation of readings, reduce errors and improve user interfaces. During the forecast period, these developments are expected to boost the thermometers market. Xiaomi, for example, announced the launch of a new infrared thermometer in February 2020. With a measurement accuracy of 0.2 degrees, the gadget can take a temperature reading in less than a second.
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Presence of prominent companies to stimulate development in North America
In 2020, the North American market was valued at $0.81 billion. The high frequency of COVID-19 cases across the region has led to the adoption of these monitoring systems, resulting in the region’s dominance of the temperature monitoring system market share. According to research published by the Centers for Disease Control and Prevention (CDC), about 3.8 million confirmed cases of COVID-19 were reported in the United States in July 2020. Moreover, the presence of major companies in the region will boost product sales further. . Due to increased funding for clinical trials in Europe, the market is expected to develop significantly. Moreover, as people are becoming more aware of the benefits of temperature monitoring systems, the market in Asia Pacific is expected to develop at a significant CAGR.
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Companies Emphasizing Offline Thermometers To Strengthen The Position
Due to the wide product range of temperature monitoring system manufacturers and the impressive distribution network for large corporations in established and emerging countries. Moreover, throughout the epidemic, the number of companies focused on the introduction of non-contact thermometers has increased significantly, resulting in the availability of a variety of brands. This has resulted in a higher rate of uptake of the product by the general public, resulting in increased income. As a result, the major players are focusing their efforts on developing advanced temperature monitoring systems.
The report lists the major companies in this market:
- Koninklijke Philips NV (Netherlands)
- Massimo (USA)
- Omron Healthcare (Japan)
- Geratherm (Germany)
- Braun Healthcare (Germany)
- A&D Co., Ltd. (Japan)
- Toshiba Corporation (Japan)
- 3M (US)
- Exergen Corporation (USA)
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