Smart Thermometer Market, size, share, Trends & Forecast

The Smart Thermometer Market is estimated to grow at a faster CAGR over the forecast period (2020-2027).

The factors driving growth of the Smart Thermometer Market includes increasing prevalence of malaria, swine flu and dengue, growing use of smart thermometers at restaurants, railway stations and hotels, rising demand for self-healthcare products and improvements in the living standards. According to the report published by World Health Organization (WHO), almost half of world’s population is at risk of getting infected from dengue, around 100-400 million infections occur each year, and more than 80% are generally mild and asymptomatic, which is pushing the demand for smart thermometers in the approaching years. Moreover, integration of advanced technologies sch as Artificial Intelligence (AI) and Internet of Things (IoT) with smart thermometers, rise in the launch of innovative products, increasing Government’s expenditure to enhance healthcare infrastructure and rapid urbanization, are some of the additional factors supplementing the Smart Thermometer Market share. In addition, the increasing investments by leading players on research and development, strategic partnerships and mergers between companies and growing population growth rates, are further propelling the Smart Thermometer Market size.

However, growth of the Smart Thermometer Market is hindered attributed to variations in the prices of raw materials.

The major players operating in the market are OMRON Corporation, Resideo Technologies, Inc., Welch Allyn, Microlife Corporation, THERMO FISHER SCIENTIFIC, INC, KONINKLIJKE PHILIPS N.V., BRIGGS HEALTHCARE, PANASONIC CORPORATION, ELECTRONIC TEMPERATURE INSTRUMENTS LTD., KINSA INC., and CITIZEN SYSTEMS JAPAN CO., LTD, among others.

Based on Product, Mercury-Based Thermometers emerged as the fastest growing segment during the forecast period

Mercury based thermometers are increasingly used in healthcare industry because it provides accurate reading and can measure high temperature, is pushing growth of the segment.

Based on Application, the Medical and Hospitality segment is projected to dominate the market over the forecast period

Growing demand for smart healthcare devices for measuring temperature, is propelling segment’s growth.

Based on Region, the North American region is estimated to hold the maximum market share during the forecast period

As per the Smart Thermometer Market Trends, increasing prevalence of malaria and dengue across United States, technological innovations in smart thermometers, rapid urbanization, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.

 

Key Developments

 

Market Segmentation

Segmentation by Type

Segmentation by Product

Segmentation by Connectivity

Segmentation by Distribution Channel

Segmentation by Application

Segmentation by Region

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