The temperature data logger market has witnessed solid growth over the last couple of decades, with figures continuing to show growth in 2021, despite the downturns brought by the Covid-19 pandemic. According to a recently released market report, the temperature data logger segment is currently valued at a little over $1 billion. That number is anticipated to climb in the forecast period (between 2021 and 2026) at a CAGR of 3.6 percent to reach $1.313 billion by the close of 2026.
The report focuses on the latest industry trends, business goals, and market analysis, with special attention paid to key growth drivers like technological advances, market opportunities, threats, restraints, business growth drivers, and recent changes in best practices.
Examining this market sector and assessing economic forecasts, the study analyzes the temperature data logger market in great detail. At the same time, the report provides insights into the market evolution going forward.
To delve into this top-down examination of the market share, opportunities for growth, and industry volumes, be sure to check out the High-Temperature Data Loggers market report in full. You’ll also find blow-by-blow temperature data logger market gross margins, revenues, and sales, plus the overall market size, growth rate, and cost structure.
A Word About Temperature Data Loggers and Industry Overview
Many industries rely on environmental monitoring systems to track temperature, humidity, and other conditions their products are subjected to. Temperature data loggers are a central component of that system, helping measure, monitor, and document environmental data, typically for ensuring regulatory compliance, safeguarding assets, and maintaining consistency in conditions.
In industries like biopharmaceuticals – where surprisingly a large portion of vaccines may be spoiled before reaching the consumer – temperature data loggers are being touted as the core solution. They are being incorporated into the batch shipments to make sure all stakeholders have access to digital data for end-to-end logistics traceability.
In food and beverage delivery sectors – where product recalls, spoilage, and foodborne disease outbreaks are top concerns, industry players are also looking to condition monitoring solutions like data loggers to keep an eye out for any cold chain breaches.
The same goes for food processors, and storage and handling facilities that must comply with a host of guidelines set out by the Federal Food and Drug Administration and the U.S. Depart of Agriculture (USDA) to guarantee consumer health and food safety.
According to Dickson’s guide, aerospace, environmental research, agriculture, healthcare, and manufacturing industries are also not left behind. They all leverage temperature data loggers to protect their invaluable assets and establish documentation for internal review and audit compliance.
And with many countries across the world continuing their push for Covid-19 vaccinations, we will no doubt be seeing a boost in pharma industry need for temperature data loggers. Looking ahead, there’s no doubt that the future of environmental data monitoring technology is brighter than ever.
The report segments the market findings by application and by type, focusing on the ten forecast period from 2016 through 2026. The market growth in each of these segments is presented in terms of sales value and volumes.
As far as market segmentation by type goes, the report covers multi-channel temperature loggers, dual-channel temperature loggers, and single-channel loggers. For application, it focuses on process troubleshooting, thermal testing process monitoring, and an umbrella category for all other subsets.
Of course, it’s important to know how the biggest players in the market stack up against each other. For this report, the analysts considered industry titans Dickson, Dwyer Instruments, PCE Instruments, and OMEGA Engineering.
Providing a profile of each of the key players dominating the temperature data logger market, the report is also a comprehensive comparative analysis of these major players based on their segment market share, partnerships, key financial info, S.W.O.T analysis, recent developments, notable acquisitions and mergers, innovations, regional presence, business strategies, and their offerings in the industry.
The market analysis segments the industry, as well, on geo-economic regions, namely:
- North America (United States, Canada, and Mexico)
- South America
- Middle East and Africa
Notable Trends in the Temperature Data Logger Market
– Wireless Temperature Data Loggers are anticipated to Cement Their Dominant Market Position
The report notes the nearly meteoric rise in popularity of wireless temperature data loggers. These are a modern, state-of-the-art class of temperature monitoring devices that relay information to a central system wirelessly via Bluetooth, NFC, WIFI, RFID, and other wireless connectivity technology.
Why are wireless data loggers increasing their market share and expected to be at the top in the next half-decade?
- They can be configured to send customized alerts via text, phone calls, instant messaging, and email.
- The best-in-class wireless data loggers guarantee precise readings with accuracy in the neighborhood of 0.10°C.
- Data collected by wireless devices can be accessed on a cloud-based platform, ensuring seamless and real-time data monitoring and analysis. This diminishes the chances of human error, improving reliability by a huge margin compared to hardwired and manual loggers.
- Real-time alerts of any condition breaches enable companies to rectify anomalies and deviations immediately, which not only improves operational efficiency but can also protect sensitive assets.
- Collection and access of data via a unified platform makes it easy for stakeholders to review excursion events and make necessary changes to prevent them from happening again.
It’s important to note that a wireless temperature data logger does come with higher upfront costs, but its cost savings and continuous monitoring ensure it pays for itself in no time.
– US Is Projected To Continue To Dominate the Market
The US is the world’s largest spender on pharmaceuticals, the single largest driver of temperature data logger market growth. It’s expected that the US market will spend around $625 billion on pharmaceuticals annually by 2023.
And with the upsurge of industries like third-party logistics (3PL), online medication ordering, and medical devices, the US will fuel much of the soaring demand for data loggers in the region. Regulatory agencies like the FDA are also expected to play an increasing oversight in the sector.