Temperature Monitoring System Market: Competitive Strategy, Benchmarking And Demand Trend Analysis
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Summary
- In 2018, DeltaTrak (US) launched its FlashTrak PreCool Prime.
- In 2018, Monnit Corporation (US) launched its ALTA Serial MODBUS Gateway and ALTA Industrial Quad Temperature Sensor.
This report aims to provide detailed insights into the global temperature monitoring system market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
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Revenue Growth Analysis:
The global Temperature Monitoring System Market is projected to reach USD 5.4 billion by 2024 from USD 4.5 billion in 2019, at a CAGR of 3.9% during the forecast period.
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Temperature Monitoring Systems Market
Key Factors Driving Market Growth:
The growth of temperature monitoring devices market is driven by rising manufacturing activity across a range of industries, as well as stringent regulations to ensure product quality (particularly in the food & beverage and pharmaceutical sectors). Technological advancements have introduced systems that are more efficient and capable of meeting a greater variety of needs than their predecessors did, which has stimulated their overall adoption. In healthcare, the growing patient population and increasing disease prevalence are direct drivers of market growth. Rising R&D activity is also expected to contribute to market prospects in the coming years.
Temperature Monitoring Systems Market (MarketsandMarkets)
Competitive Landscape:
The competitive landscape includes the analysis of the key growth strategies adopted by major players to expand their global presence and increase their shares in the market. The key growth strategies adopted by the top players in the market include product launches and approvals, agreements, expansions, and acquisitions. Product approvals and launches were the most widely adopted growth strategies by market players in the last three years to garner a larger share of the market.
Key Players:
- 3M (US),
- Abb Ltd. (Switzerland),
- Deltatrack (US),
- Emerson Electric (US),
- Fluke Corporation (subsidiary of Fortive Corporation) (US),
- Honeywell (US),
- Kelsius, Ltd. (Ireland),
- Monnit Corporation (US)
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