The outbreak of pandemic Covid-19 since November 2019 has started engulfing countries all over the world with severe human life threats; to contain this outbreak of the Covid-19 pandemic, countries have adopted different majors to ensure health safety and to prevent loss of lives. One of the most common safeties major adopted by all the countries is the introduction of lockdowns all over the country except emergency services and the sector of the daily need. The introduction of lockdowns indicated shutting all sectors and activities until unlock is introduced by the governments. These lockdown implementations lead to a heavy impact on every sector, the majority of the businesses suffered losses; however, some of the business excelled in these pandemic COVID-19 situations. The electronics industry witnesses strong hit in the first quarter of 2020 as the all manufacturing facilities, retail stores, and other supporting offices, warehouse and transportation has been shut down. Despite the electronics industry getting hit by lockdowns and low manufacturing and sales; temperature sensors market has picked up the pace and is expected to gain a boost in the market growth rate as demand for temperature sensor increasing day by day owing to its applications in medical devices which are used for monitoring temperature. Apart from medical devices applications, temperature sensors are rapidly being adopted by the wearable manufacturers to provide customers with safety and health cautions.
When pandemic Covid-19 ran havoc in early 2020, initially temperature sensors market affected due to lockdowns; however it has been positively affected in the second quarter of 2020 as the majority of temperature sensors manufacturers are supplying sensors or manufacturing medical devices which are used for temperature sensing; also wearable manufacturers such as watches and wristbands many others are using temperature sensors in these devices to generate more demands and indicate body temperatures to consumers. Manufacturing such medical devices and wearables have benefitted the temperature sensor industry, along with it has also aided the medical industry and governments to contain the spread of COVID-19 disease.
These devices sense body temperatures and indicate it on the screen which warns the consumers and suspects which helps in early detection and less spread of the virus.
In May 2020, GOQii launched smart band Vital 3.0with body temperature sensors which can be used for body temperature, heart rate, blood pressure and sleep apart from step count.
These body details are important for medical analysis according to Vishal Gondal the CEO of GOQiiMr has given the statement that "In the current COVID-19 situation, there is an urgent requirement for the development and enhancement of rapid wearable diagnostics to recognize and isolate COVID-19 cases and track and to control the spread of the virus. The Vital 3.0 provides temperature and sleep, data around pulse which can be used to observe whether the user is symptomatic of diseases such as COVID-19.”
Apart from body temperature sensors, various other sensors are launched in order to achieve contactless operations and limit the spread of these pandemic and also forthcoming virus diseases.
In March 2018, Ramco Systems in Singapore launched facial recognition based time & attendance system –RamcoGEEK. This device will ensure less usage of biometric attendance and limit infection contact possibilities.
During product launch CEO Virender Aggarwal said, “We have a major global health pandemic that has affected many. The spread of the disease has brought the focus back on the Hygiene and Health of Employees. We built this application to help better address a crisis through technology. Robust containment through a robust attendance and access system with zero contact and temperature measurement can be key to avoid the easy spread of the virus that may take place with Biometric access system”.
Such improvisation and innovations described above will surely boost the demand and supply chain of the temperature. Demand of electronic devices have slumped drastically in first quarter of 2020, since prospect consumers have decided not to purchase desired products as of now and focus is more on needful products, rather than desired products. With limiting corona virus effects markets have been reopening and new launches of healthcare devices and wearable devices such as temperature sensor guns, watches, wristbands, retina scanner sensors, infrared temperature detectors; market is picking up surging growth for temperature sensors market in second quarter of 2020.
With regulations of governments of all the countries to remain contactless and to remain socially distanced, it is necessary to implement technologies which can measure body temperatures without making any contacts between a medic and suspect. Supportively, various companies launched infrared temperature sensors and sensor guns to detect body temperatures without making any physical contact.
Apart from temperature sensors guns, FLIR technology based devices are also experiencing growing demand for detection of body temperatures in this pandemic.
Above launches and statements from leaders in the industry suggests that demand for temperature sensors is going to increase in long term scenario.
With the increasing demand of temperature sensors, supply chain is yet to be re-established in full fledge in order to meet up the demands. Many places around the world are in containment zones where supply chain has very limited access. Supply chain department was most heavily hit in first quarter of 2020 as transportation was almost totally suspended by governments. However, with unlocking of lockdowns supply chain is slowly picking up its flow and demands that are expected to be fulfilled at higher rate.
In these pandemic situations, most of the manufacturing sites remained shutting due to the government regulations; however with the limited operating staff manufacturing sites have attained permissions to restart manufacturing. Sighting products are not that much in demand, so that the manufacturers have started innovating products which can be used for medical purpose and healthcare sector as only this sector was seeking growth during pandemic. Innovation resulted in temperature sensing devices such as wearables, sensing guns, FLIR cameras, etc. which are rapidly being adopted by healthcare experts and health conscious individuals.
From the overview, impact on demand & supply chain and steps taken by manufacturers, it is evident that initially temperature sensor got slumped in demand and supply due to macro-environmental factors; contrastingly in just matter of a quarter of the year, in mid-2020 temperature sensors market seeing surging growth owing to innovative products offered in the market by manufacturers. Even after the COVID-19 pandemic ends, the growth for temperature sensor industry will not slump as benefits of contactless treatments are more and with advanced technological devices, contactless temperature detection remains the best solution to avoid the spread of such virus diseases. Apart from infrared contactless temperature sensors, contact sensors are also used in fitness tracking devices which can sense the body temperature.
According to Bhrugu Pange, MD at global consultants AArete, the demand for healthcare tracking devices will surge as people around are uncertain about the infection in their vicinity and are more cautious than before which will generate greater demand for these devices. He further stressed on the use of health tracking devices by saying, “start taking fitness-tracking devices and apps more seriously as a tool for preventive and proactive maintenance of patient health. This in turn will lead to more serious collaboration between device makers and healthcare institutions.”
Growing awareness of social distancing and contactless treatments, there have been incidents of home healthcare and online consultation; which is expected to continue even after Covid – 19 pandemic; which will increase the application of temperature sensors in households.
Suh Yonggu, dean of the business school at Sookmyung Women’s Universityhas given the statement that-
“Even after the Covid-19 pandemic subsides, I believe offline health-care will be shifted to online training and home health-care, fueled by changes in people’s value for family and house”
From the above instances, it can inferred that market for the temperature sensors is looking bright in terms of demand as of now and is expected to grow at higher growth when supply chain operates at full fledge pace. Apart from industrial temperature sensors, overall market for temperature sensors is gaining growth which will cover up slump in industrial temperature sensors market revenue. In coming half decade temperature sensors industry looks optimistic and can be seen as an opportunity.