Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Smart Thermometer Market Overview
Smart thermometer is referred to a device which measures the temperature of the body, food and other things. Smart thermometer records the temperature of the person and it also helps the person to remind when to take the medicine. Smart thermometers are widely used by different sectors such as healthcare, food industry and others.
Market Size and Forecast
The global smart thermometer market is expected to grow at a robust growth over the forecast period i.e. 2017-2024. Further, the factors propelling the growth of smart thermometer market include increasing healthcare concerns among the population and growing diseases such as chronic fever, malaria, swine flu and other diseases which can be diagnosed by observing body temperature. Moreover, the medical sector by usage is anticipated to witness highest market share in overall smart thermometer market. Rising adoption of advanced healthcare technology by medical sector is believed to foster the growth of smart thermometer market by the end of 2024.
Regionally, North America is the leading market for smart thermometer in terms of revenue. Further, the region is anticipated to continue its dominance over the forecast period owing to the increasing demand for smart thermometer from healthcare sector. The U.S. holds the largest market for smart thermometer in North America region. Moreover, advancement technology related to measuring temperature is also expected to flourish the growth of smart thermometer market.
Europe region grabbed the second largest market of smart thermometer owing to growing adoption of quick and safer healthcare devices. Further, rising demand for smart thermometer can be witnessed from food and beverage industry in Europe region by the end of 2024. Moreover, Europe smart thermometer market is led by U.K. and France owing to growing awareness towards high body temperature diseases. Asia-Pacific region is projected to witness a robust growth by the end 2024 owing to the growing economies such as China and India. Further, rising disposable income and rapid urbanization are expected to bolster the growth of smart thermometer market in Asia-Pacific region.CLICK TO DOWNLOAD FREE SAMPLE REPORT
Market Segmentation
Our in-depth analysis segmented the global smart thermometer market in the following segments:
By Usage
By Distribution Channel
By Region
Global smart thermometer market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Rising number of medical conditions requiring accurate measurement and growing adoption of smart thermometers by clinics, hospitals and others for quick and safer test results are anticipated to be the dynamic factor behind the rapid growth of smart thermometer market. Further, increasing demand for smart thermometer from food industry is also projected to foster the growth of smart thermometer market by the end of 2024. Moreover, increasing awareness about the effects of overcooking and undercooking of foods such as toxicity, digestion problems, loss of nutrients and others is substantially raising the demand for smart food thermometer in various food industries and restaurants.
Furthermore, the market is growing on the back of rising demand for smart thermometers from chemicals, pharmaceuticals and others owing for the maintenance of an environment of specific temperature. Apart from this, rising e-commerce channel expansion and increasing preferences for online purchases is likely to expand the market size of the smart thermometer market.
However, high cost of smart thermometers is the major restraining factor for the growth of this market. Moreover, lack of awareness is also envisioned to hamper the growth of smart thermometer market across the globe.
Key players
The major key players for smart thermometer market are as follows
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global smart thermometer market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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