Precision in Temperature Measurement: Infrared Thermometer Market Insights

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Precision in Temperature Measurement: Infrared Thermometer Market Insights

Aishwarya Bhasme

10 Jan 2024 • 173 Views

Infrared Thermometer Market size was valued at USD 346.61 Mn in 2022 and the total Infrared Thermometer Market revenue is expected to grow at 12.02% from 2023 to 2029, reaching nearly USD 767.21 Mn.

Infrared Thermometer Market Overview:

The Infrared Thermometer market is witnessing a significant surge in demand, driven by the escalating need for efficient crowd control and seamless customer service across various industries. As businesses strive to enhance operational efficiency and customer satisfaction, the adoption of Infrared Thermometers has become paramount. These systems leverage advanced technologies such as artificial intelligence and data analytics to optimize the flow of people, minimizing wait times and streamlining the overall queuing process. Industries ranging from retail and healthcare to banking and government agencies are increasingly recognizing the benefits of implementing robust Infrared Thermometers to improve service delivery and create a positive customer experience. The market is poised for continued growth as organizations prioritize the modernization of their customer service infrastructure to stay competitive in a rapidly evolving business landscape.

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Infrared Thermometer Market Scope:

The Infrared Thermometer market is expanding its scope in response to the evolving dynamics of customer service and crowd management. This burgeoning market is witnessing a broadening application across diverse sectors, including retail, healthcare, hospitality, and transportation. As businesses and organizations increasingly prioritize the enhancement of customer experience, the Infrared Thermometer market is expected to play a pivotal role in shaping the future of service delivery. The integration of advanced features such as mobile applications, real-time analytics, and personalized customer engagement is further propelling the market's growth. With a focus on operational efficiency and customer satisfaction, companies are exploring innovative solutions within the Infrared Thermometer landscape to cater to the unique needs of their respective industries. The market's expanding scope reflects a broader recognition of the importance of optimizing queuing processes for a seamless and efficient customer journey.

Infrared Thermometer Market Segmentation:

There are two market segments based on application: medical and non-medical. The fastest CAGR of more than 13.2% is predicted to grow for product usage in medical applications during the projected period. Both population growth and an increase in the variety of fever-causing illnesses may result from this. Furthermore, it is anticipated that an increase in COVID-19 cases will fuel market growth. For example, as of February 25, 2022, 43,12,574 COVID-19 cases had been confirmed worldwide, according to the WHO. Furthermore, regulatory agencies worldwide, including the U.S. FDA, are endorsing the use of products to take a person's temperature. The increased demand for hospitals and clinics as a result is supporting the growth of the medical industry.

Non-contact handheld and fixed-mount thermometers have distinct market segments based on type. The handheld type category is anticipated to grow at the fastest rate during the forecast period, with a market share of more than 74.2% in 2022. It is expected that the segment will increase due to the rising rates of both acute illnesses and different infections that result in fever. For example, there are now more people suffering from yellow fever. The WHO estimates that typhoid fever affects 21 million people globally each year. In a similar vein, the CDC reports that 30,000 cases of yellow fever occur annually.

Considering the End-User, Between 2022 and 2030, the healthcare sector—which held the largest share of the economy at 42.2% in 2022—is expected to grow at the fastest rate. The rise in bakeries, cafes, take-out restaurants, and other end-use businesses worldwide has contributed to the expansion of the second-largest end-use sector, hospitality. For example, the UK's Office of National Statistics calculates that there are 125,400 restaurants, bakeries, and cafés nationwide.

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Infrared Thermometer Market Key Players:

Secondary research is used to identify market leaders, while primary and secondary research is used to establish market revenue. Secondary research comprised a review of the leading manufacturers' annual and financial reports, whilst primary research included thorough interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are used to calculate percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then validated using primary sources.

The biggest players in the Infrared Thermometer market are as follows:

1. American Diagnostic Corporation(US)
2. FLIR(US)
3. Testo(US)
4. Cardinal Health(US)
5. Thermomedics, Inc.(US)
6. Exergen(US)
7. Welch Allyn – A Hill-Rom Inc. Company(US)
8. Electronic Temperature Instruments Ltd(UK)
9. PCE Instruments(UK)
10. Geratherm Medical AG(Germany)
11. PAUL HARTMANN AG(Germany)
12. Braun GmbH(Germany)
13. Microlife Corporation(Switzerland)
14. BPL Medical Technologies(Denmark)
15. Contec Medical Systems Co., Ltd.(China)
16. OMRON Corporation(Japan)
17. AMETEK Land(UK)

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Infrared Thermometer Market Regional Analysis:

Individual market influencing components and changes in market legislation that affect current and future market trends are also covered in the Infrared Thermometer market study's regional overview. Current and future trends are investigated in order to analyze the overall market potential and find profitable patterns in order to get a more firm footing. The geographical market evaluation is based on the current environment and anticipated trends.

COVID-19 Impact Analysis on Infrared Thermometer Market:

End-user industries where Infrared Thermometer are utilized saw a decline in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a pause in operations. This resulted in a significant drop in the revenues of enterprises in these industries, as well as in demand for Infrared Thermometer manufacturers, affecting the Infrared Thermometer market's growth in 2020. End-user business demand for Infrared Thermometer has plummeted as a result of lockdowns and an increase in COVID-19 events throughout the world.

Key Questions Answered in the Infrared Thermometer Market Report are:

In 2021, which segment accounted for the most share of the Infrared Thermometer market?
What is the competitive landscape of the Infrared Thermometer market?
What are the key factors influencing Infrared Thermometer market growth?
In the Infrared Thermometer market, which region has the most market share?
What will be the CAGR of the Infrared Thermometer market during the forecast period (2022-2029)?

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Aishwarya Bhasme

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