NEWARK, Del, Oct. 10, 2023 (GLOBE NEWSWIRE) -- According to a Future Market Insights (FMI) report, the global infrared thermometer market is predicted to register a valuation of US$ 1,658.5 Million in 2023 and reach up to US$ 3,681.3 Million by 2033. The global market is anticipated to secure a CAGR of 8.3% during the forecast period.
The healthcare sector is experiencing unprecedented growth and accessibility, especially in developing countries. This expansion presents a plethora of opportunities for infrared thermometer manufacturers, making developed and emerging nations ripe for exploration.
The demand for infrared thermometers is surging in various industrial sectors, including electronics, food processing, and automotive industries. These versatile devices are crucial for ensuring product safety and quality control.
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Opportunities and Trends in the Infrared Thermometer Industry:
- Climate Monitoring: The increasing demand to monitor temperature variations in air, land, and water are accelerating the need for infrared thermometer. These thermometers are further utilized to detect crop improvement; soil temperatures significantly fuel the global market opportunities.
- Food Safety: The growing concerns about food safety getting spoiled are increasing the demand for infrared thermometers. The adoption of infrared thermometers in the food industry is growing for storing, processing, and monitoring food temperature. Several restaurants and hotels ensure food safety by increasing the demand for handheld infrared thermometers.
- Emerging Markets: Rising urbanization, increasing disposable income, and rapidly growing healthcare settings are boosting global market opportunities. The increasing educational trends by initiatives and several campaigns are bolstering the global market sales.
- Smart Homes Trends: The popularity of smart home systems to monitor construction activities and room temperature is increasing the demand for infrared thermometers.
- Customization Applications: Manufacturers offer suitable, advanced, and numerous featured infrared thermometers for a specific sector, driving global market trends. These sectors are improving their monitoring and specialized solutions with the adoption of infrared thermometers.
“Innovations are Limitless! Nowadays, key companies are ahead of the competition by their better skills, research, innovations, and strategies. The growing trends monitoring with the integration of robotic technologies is capturing huge popularity and driving the market revenue,” opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Key Takeaways from the Infrared Thermometer Industry Report:
- The infrared thermometer industry is registering a CAGR of 8.3% between 2023 to 2033.
- The United States is expected to register a maximum CAGR of 4.4% by dominating the global market by 2033.
- Japan is anticipated to capture a CAGR of 5.1% in the global market by 2033.
- India is anticipated to register a CAGR of 10.0% in the global market by 2033.
- The United Kingdom significantly drives the global market with a CAGR of 4.5%.
- With a share of 3.9%, Germany is rapidly advancing the global market.
- The non-contact infrared thermometer is estimated to lead the global market during the forecast period.
Key Players are Working on Accuracy and Accessibility:
The global infrared thermometer industry is highly fragmented by the skilled and prominent players investing considerable amounts in research and development activities. These essential players are trying to develop reliable and easy-to-use monitoring devices. These players actively focus on consumers' desires and offer them products accordingly.
These players fill the gaps by offering suitable products to their customers that can store several readings at once. Key players adopt various marketing methodologies that uplift the global market share, including collaborations, agreements, and mergers.
New market entrances are welcoming their new product launches with their expertise and solving consumers' problems. The global market is likely to expand by these players and their dedication to their goals in the coming future.
Recent Developments in the Infrared Thermometer Market:
In 2020, CHINO launched its new product, the IR-CZ radiation thermometer. This thermometer allows you to check different temperature scales from low to high.
Key Companies Operating in the Infrared Thermometer Industry:
- Thermo Fisher Scientific Inc.
- PCE Deutschland GmbH
- HORIBA, Ltd.
- Omega Engineering Inc.
- Weiss Instruments LLC
- Mediaid, Inc.
- Fluke Corporation
- Optris GmbH
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Infrared Thermometer Market Segmentation Analysis:
By Product Type:
- Contact thermometers
- Non-contact thermometers
By End Use:
- Agriculture Industry
- Food Industry
- Electronic Industry
- Healthcare Industry
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- The Middle East & Africa
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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