The global smart thermometer market is segmented into usage such as medical, food industry, industrial, laboratory and others. Among these segments, medical segment is expected to occupy the top position in the market. Additionally, the growth of this segment is attributed to growing adoption of innovative healthcare products for accurate measurements. In addition to this, industrial segment is believed to expand at a remarkable pace over the forecast period i.e. 2017-2024 owing to high demand for temperature measurement devices. Likely, industries require specific temperature maintenance during the process of product development which is also fostering the demand of smart thermometer.
Global smart thermometer market is expected to register a noteworthy CAGR over the forecast period. Moreover, the global smart thermometer market is projected to gain substantial revenue during the forecast period i.e. 2017-2024. The market for smart thermometer is expanding on the back of rising number of medical conditions which requires accurate measurement.
In terms of regional platform, North America grabbed the largest market of smart thermometer in terms of revenue in 2016. Further, U.S. is the biggest contributor in the market of smart thermometer in this region owing to increasing investment by major vendors to provide advance healthcare products. Apart from this, Europe region captured the second largest market of smart thermometer due to growing adoption of quick and safer healthcare devices.
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Technological advancement in healthcare sector
Growing adoption of advanced health care product for measuring purposes is believed to boost the growth of smart thermometer market. Further, rising adoption of smart thermometer by hospitals, clinics and others is also one of the major factors bolstering the market of smart thermometer. Likely, government initiatives to develop healthcare infrastructure in developing nations is also fostering the market of smart thermometer.
Rising healthcare concerns
Growing occurrences of chronic diseases such as fever, malaria, swine flu and other diseases that can be diagnosed by measuring temperature is expected to flourish the growth of smart thermometer market. Moreover, increasing number of deaths across the globe affected by these diseases is also believed to drive the market of smart thermometer. In addition to this, swelled disposable income of the population is projected to positively impact the growth of smart thermometer market.
However, high cost associated with smart thermometers is anticipated to restrain the growth of this market. Moreover, lack of awareness regarding smart thermometer is also envisioned to dampen the growth of smart thermometer market across the globe.
The report titled “Smart Thermometer Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global smart thermometer market in terms of market segmentation by usage, by distribution channel and by region.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global smart thermometer market which includes company profiling of Electronic Temperature Instruments Ltd., Kinsa, Smarttemp, Nokia, Vicks, Swaive, Testo, Williams, Sonoma, Zeraph and ThermoWorks. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart thermometer market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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