Global Temperature Monitoring Systems Market to Reach $7.5 Billion by 2030
The global market for Temperature Monitoring Systems estimated at US$5.4 Billion in the year 2023, is expected to reach US$7.5 Billion by 2030, growing at a CAGR of 4.7% over the period 2023-2030. Contact Temperature Monitoring Systems, one of the segments analyzed in the report, is expected to record 3.9% CAGR and reach US$4.6 Billion by the end of the analysis period. Growth in the Non-Contact Temperature Monitoring Systems segment is estimated at 6.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 7.1% CAGR
The Temperature Monitoring Systems market in the U.S. is estimated at US$1.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2030 trailing a CAGR of 7.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3% and 3.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.
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