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Temperature Monitoring Systems Market Poised to Acquire USD 6.6 Billion by 2028 | Reports And Data
Growing significance of temperature monitoring systems in various industries, including food & beverage, pharmaceutical, biotechnology, and manufacturing, to fuel the market growth Market Size – USD 4.9 billion in 2020, Market Growth – at a CAGR of 4.2%, Market Trends – The surging use of temperature monitoring systems as a COVID-19 preventive measure
New York, March 16, 2021 (GLOBE NEWSWIRE) The global
temperature monitoring systems market size is expected to reach USD 6.6 billion by 2028 at a CAGR of 4.2%, according to a new report by Reports and Data. The surging demand for non-contact-based temperature monitoring devices, the growing e-commerce activities, and increasing adoption in the food & beverage, pharmaceutical, and manufacturing sectors for product safety and quality preservation are among the factors majorly supporting the growth of the global temperature monito
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The machine safety market is expected to be valued at USD 4.5 billion in 2020 and is projected to reach USD 6.0 billion by 2025; it is expected to grow at a CAGR of 6.1% from 2020 to 2025.
Increasing emphasis on ensuring workplace safety in oil & gas, power generation, food & beverages, automotive, and chemicals industries would increase the demand for machine safety systems in the coming years. In addition, the establishment of standards such as IEC 61508 and IEC 61511 has led to increased adoption of machine safety systems to attain the mandatory risk reduction targets. IEC 61508 and IEC 61511 are performance-based standards that promote the concept of the machine safety life cycle.