Global Smart Temperature Management Market Insights:
Temperature management is vital in providing goods
and items at a certain ambient level. The proliferation of the internet and
connected devices and its applications in temperature monitoring can assure the
quality of goods. The global Smart Temperature Management Market report of Market Research
Future (MRFR) paints a broad picture on the industry taking into growth factors
presently as well as new challenges and opportunities to be available for the
period of 2017 to 2023 (forecast period). The COVID-19 pandemic and its impact
have been analyzed in the report.
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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Major factors driving market growth are huge need
for intramuscular devices, temperature monitoring solutions, and rise of
chronic diseases. Temperature management devices are used in preventing
neurological damage of patients with cardiac conditions. The need for
temperature management in food & service, schools, education, and
healthcare sectors can bode well for the market. Rise of connected devices and
emergence of the IoT ecosystem and its subsequent adoption for automation of
processes can spur its demand. Recently, Digi International acquired SMART
Temps, a real-time provider of temperature management solutions.
The supply chain and logistics industry is one of
the biggest drivers of the industry owing to food safety laws and their
adherence by companies. Consumption of processed foods is likely to drive the
demand for smart temperature management as intake of proteins and lean meats
take a surge during the COVID-19 pandemic. According to the State of Food and
Agriculture FAO, more than 14% of food produced is lost in 2019. The management
of foods during transit and their continued maintenance in supermarkets can
ensure the quality of foods.
Overheating of transistors in these devices can
hamper the market growth.
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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