Temperature Monitoring System Market Size

Temperature Monitoring System Market size was valued at USD 3.17 Billion in 2023 and is anticipated to reach USD 6.52 Billion by the end of 2036, expanding at around 5.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of temperature monitoring system is assessed at USD 3.33 Billion. The market is growing on the back of increased regulations and stringent compliance policies in the healthcare industry, especially in hospitals, cold storage facilities, and patient monitoring systems. For instance, according to National Health Profile (NHP), 2021, in India, the number of hospitals increased from 25778 in 2019 to 41245 in 2021.

Temperature monitoring systems use sensing technology to automatically gather temperature data. Temperature monitoring systems make use of sensors, thermal buffers, data storage, temperature measurement devices, alarms, and software. The installation of these monitoring systems aids in the early detection of any possible temperature issues and gives prompt notification. This becomes possible due to their internet of things (IoT) technology. They connect with the local wi-fi, making it possible to access records and data from anywhere, and allow for remote access. With more than 10 billion IoT devices globally in 2020, the demand for such easily accessible temperature monitoring systems is bound to grow.