Smart Temperature Management Industry Insight:
Market Research Future gives complete enlightenment
in the global smart temperature management market 2020. The study addresses
growing demand, production volume, sales revenue, and growth prospects and
could witness stability from the year 2017-2023. In these years, the market’s
potentiality might climb at a rate of 7%, with a high market valuation of USD 5
billion. It could be the great triumph of the market to see the future amidst
COVID 19 pandemic across the world.
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Notable Developments
The global smart temperature management market
expects to achieve massive growth after the long term impact of the COVID 19
outbreak. Growth-boosting factors of the market are attributed to the rising
incidence of chronic conditions, towering demand for smart temperature
management in consumer electronics and escalating development of advanced
intravascular systems.
With the growing commonness of cardiac arrest and
other chronic cardiac diseases, there have a rising number of surgeries that
are being undertaken. This growth is anticipated to motivate the need for smart
temperature management to avoid the adverse effects on the brain. Apart from
this, the changing demand for various Smartphones, laptops and tablets is
fuelling the growth of the smart temperature management solutions market. With
this, operational efficiency and usage of various synthetic cooling methods are
proposed to thrust the growth of the smart temperature management market.
Further, MRFR points out that many companies are
investing broadly for better cooling solutions. Even various manufacturers are
working on new technological cooling solutions such as heat transfer
technologies as well, so to make the product more user friendly. On the basis
of all these factors, the market is anticipated to expand over the forecast
period at a substantial rate.
On the contrary, the factor of the technical issues
coupled with the component and system such as heat effect on transistor
operation that acts as an essential technological challenge. Therefore, this
challenge is anticipated to obstruct market development over the foretell
period. Also, the sky-scraping cost of smart temperature management system
might hinder in the say way to the growth of smart temperature management
market in forecasted years.
Segmentation of Market
For more in-depth study, Market Research Future has
included a segmental overview of the Smart Temperature Management Market with the segments of
component, device, and end-users.
In terms of Component, the market has included
hardware and software.
In terms of device, the market has included
conduction, convection and others.
In terms of end-user, the market has included food
and beverage, healthcare, call centres, consumer electronics and others.
Regional Front
Regionally, North-America held the largest market
share from the U.S. among others. The reason is attributed to the swell in
funds for these technological solutions, espousal of these smart temperature
management solutions by various domains and low operational cost.
However, Asia-Pacific region is anticipated to
expand over the forecast period, 2017-2023. The reason is attributed to the
incidence of a large number of electronic manufacturers, escalating government
initiatives and the rising adoption of these solutions by various sectors.
Industry Players
The significant players in the global temperature
management system market include AI Technology, Inc.(U.S.), API Heat Transfer
(U.S.), Delta Electronics, Inc. (Taiwan), Aavid Thermalloy, LLC (U.S.), Henkel
AG & Co. KGaA (Germany), Honeywell International Inc (U.S.), LAIRD PLC
(U.K.), Jaro Thermal (U.S.), and HEATEX AB (U.S.).
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