Smart Temperature Management Market Estimated to Grow with a Healthy CAGR During Forecast Period 2020-2025
Industry Insight
Market Research Future gives complete enlightenment in the global smart temperature management market 2020. The study addresses growing demand, production volume, sales revenue, and growth prospects and could witness stability from the year 2017-2023. In these years, the market’s potentiality might climb at a rate of 7%, with a high market valuation of USD 5 billion. It could be the great triumph of the market to see the future amidst COVID 19 pandemic across the world.
Industry Players
The significant players in the global temperature management system market include AI Technology, Inc.(U.S.), API Heat Transfer (U.S.), Delta Electronics, Inc. (Taiwan), Aavid Thermalloy, LLC (U.S.), Henkel AG & Co. KGaA (Germany), Honeywell International Inc (U.S.), LAIRD PLC (U.K.), Jaro Thermal (U.S.), and HEATEX AB (U.S.).
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Notable Developments
The global smart temperature management market expects to achieve massive growth after the long term impact of the COVID 19 outbreak. Growth-boosting factors of the market are attributed to the rising incidence of chronic conditions, towering demand for smart temperature management in consumer electronics and escalating development of advanced intravascular systems.
With the growing commonness of cardiac arrest and other chronic cardiac diseases, there have a rising number of surgeries that are being undertaken. This growth is anticipated to motivate the need for smart temperature management to avoid the adverse effects on the brain. Apart from this, the changing demand for various Smartphones, laptops and tablets is fuelling the growth of the smart temperature management solutions market. With this, operational efficiency and usage of various synthetic cooling methods are proposed to thrust the growth of the smart temperature management market.
Further, MRFR points out that many companies are investing broadly for better cooling solutions. Even various manufacturers are working on new technological cooling solutions such as heat transfer technologies as well, so to make the product more user friendly. On the basis of all these factors, the market is anticipated to expand over the forecast period at a substantial rate.
On the contrary, the factor of the technical issues coupled with the component and system such as heat effect on transistor operation that acts as an essential technological challenge. Therefore, this challenge is anticipated to obstruct market development over the foretell period. Also, the sky-scraping cost of smart temperature management system might hinder in the say way to the growth of smart temperature management market in forecasted years.
Segmentation of Market
For more in-depth study, Market Research Future has included a segmental overview of the Smart Management Temperature Market with the segments of component, device, and end-users.
In terms of Component, the market has included hardware and software.
In terms of device, the market has included conduction, convection and others.
In terms of end-user, the market has included food and beverage, healthcare, call centres, consumer electronics and others.
Regional Front
Regionally, North-America held the largest market share from the U.S. among others. The reason is attributed to the swell in funds for these technological solutions, espousal of these smart temperature management solutions by various domains and low operational cost.
However, Asia-Pacific region is anticipated to expand over the forecast period, 2017-2023. The reason is attributed to the incidence of a large number of electronic manufacturers, escalating government initiatives and the rising adoption of these solutions by various sectors.
LIST OF TABLES
TABLE 1 SMART TEMPERATURE MANAGEMENT MARKET, BY COMPONENT
TABLE 2 SMART TEMPERATURE MANAGEMENT MARKET, BY DEVICE
TABLE 3 SMART TEMPERATURE MANAGEMENT MARKET, BY END-USERS
TABLE 4 SMART TEMPERATURE MANAGEMENT MARKET, BY GEOGRAPHY
TABLE 5 NORTH AMERICA SMART TEMPERATURE MANAGEMENT MARKET, BY COMPONENT
Continued…….
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LIST OF FIGURES
FIGURE 1 RESEARCH METHODOLOGY
FIGURE 2 SMART TEMPERATURE MANAGEMENT MARKET, BY COMPONENT (%)
FIGURE 3 SMART TEMPERATURE MANAGEMENT MARKET, BY DEVICE (%)
FIGURE 4 SMART TEMPERATURE MANAGEMENT MARKET, BY END-USERS (%)
FIGURE 5 SMART TEMPERATURE MANAGEMENT MARKET, BY REGIONS (%)
Continued……
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