The Temperature Monitoring Industry is Seeing Huge Growth and Huge Profits
Temperature monitoring is a pressing need for many industries, and demand for temperature monitoring systems is increasing worldwide. With sensors and software, data loggers help companies uphold quality assurance standards, maintain technology infrastructure, and preserve their products throughout manufacturing, transit, and storage.
It is, therefore, no surprise that the temperature monitoring industry is growing by leaps and bounds by providing these solutions to companies in a way that is affordable, convenient, and intuitive.
Many people still are not aware of the crucial role temperature monitoring plays in multiple sectors of the economy. So, let’s explore what temperature monitoring is how some of the most important, fast-growing companies on the planet are leveraging temperature monitoring technology to protect consumers and gain a competitive edge.
What is Temperature Monitoring?
Temperature monitoring refers to measuring and recording temperature data in specific areas and environments. Today, businesses typically use electronic devices such as data loggers or ambient temperature monitors to observe temperatures in storage facilities and data center warehouses to prevent hardware or temperature-sensitive products from overheating.
Aside from data loggers, companies also use various other tools to measure and record temperatures. They often use temperature probes or sensors to collect temperature data from specific areas. Thermal buffers are frequently used to smooth rapid temperature changes at the site of the sensors due to opening the door to a storage facility or a compressor cycling. Alarming systems are also standard in temperature monitoring operations, alerting administrators when temperatures rise above certain temperatures.
What Is Temperature Mapping?
Temperature mapping refers to placing several data loggers in a particular area to determine the range of temperatures in that region. According to Dickson Data, facilities should conduct temperature mapping in different operating conditions, including, for example, when storage facilities are at varying capacities, from empty to full, or during unique conditions like a power outage.
Temperature mapping is critical because, while the average temperature of a particular space might remain relatively constant, different regions’ temperatures might range substantially. Temperature mapping helps businesses uncover hot or cold spots within a storage facility.
Understandably, many regulators require different industries to implement temperature mapping procedures and provide data that conveys the range of the varying temperatures within storage facilities. Regulators must ensure that facilities prevent the products from being exposed to temperatures that are either too high or too low.
How Has the Industry Grown in Recent Years?
The temperature monitoring industry has grown substantially in recent years, and most experts believe that this growth will continue and even accelerate. Temperature monitoring has always been critical, but the invention and expansion of electronic sensors, big data, digital technologies, cloud computing, and software have given rise to a new generation of temperature monitoring tools.
This new tech has allowed the temperature monitoring industry to market a sophisticated new set of products to many different clients and industries. The temperature monitoring market is worth more than $6.85 billion, with roughly 31% of the global market represented by North America. Many experts expect the industry’s growth rate to increase based on a need for contactless temperature monitoring systems.
How is the Industry Segmented?
Temperature monitoring has become particularly important for IT companies with expensive hardware infrastructure and servers prone to overheating. Temperature control has long been a problem in IT, so most hardware includes fans or other cooling systems.
Hardware or overheating equipment translates to enormous costs for IT companies, so these cooling systems are a wise and necessary investment. Similarly, IT companies must invest in temperature monitoring technologies that will detect when equipment is in danger of overheating. The high-energy consuming nature of cryptocurrency and blockchain systems has also increased the urgency for environmentally-friendly temperature monitoring and cooling systems.
Temperature monitoring is essential in other sectors as well. The food and beverage industry, for example, must monitor the temperature of storage facilities in which food products are kept and transported. Excessively high temperatures can result in spoiled food, leading to foodborne illness outbreaks and public health crises.
Moreover, temperature monitoring is necessary for food and beverage companies to comply with regulatory standards. Regulators require these companies to collect, record and submit formatted temperature data to ensure that temperature-sensitive food products do not expire en route to retailers and consumers.
Similarly, pharmaceutical companies must carefully monitor the temperature of their storage and transportation facilities to ensure the quality of temperature-sensitive medical products, a particularly timely topic during the COVID-19 pandemic since it is necessary to store COVID vaccines at extremely low temperatures. The Pfizer COVID vaccine, for example, must be kept at approximately negative 70 degrees Celsius throughout its journey to different countries globally.
Shippers deliver these vaccines with temperature-monitored packaging, complete with data loggers that measure, record, and send temperature data to the manufacturer. These data loggers can even detect when the package arrives and the recipient has opened it.
How Much is it Projected to Grow?
When you consider the industries served by temperature monitoring systems, it’s easy to see why this tech has such a bright future. The IT sector is among the fastest growing in the world. Temperature monitoring systems will be essential to ensure that data centers are cooled sufficiently.
The growth of big data centers, IoT tech, and server infrastructure will inevitably continue as cloud storage and cloud computing becomes a more significant part of our economy. That means sophisticated temperature monitoring systems will become increasingly important.
Similarly, the pharmaceutical industry’s growth has risen dramatically, which is a trend that is likely to continue in the face of pandemics and public health crises. That means that there will be more temperature-sensitive medical products shipped throughout the world, representing a significant demand for temperature monitoring systems.
Many experts believe that the temperature monitoring industry will likely experience upwards of 6% compound annual growth in the coming years.
In summary, it’s clear that the temperature monitoring industry is already reaping enormous profits, and it seems destined to grow even more rapidly thanks to the high-growth sectors it serves.
