The temperature sensor market is projected to grow at a CAGR of 4.69% over the forecast period to reach US$8.304 billion in 2025 from US$6.307 billion in 2019. Temperature Sensor is an electronic device which helps in measuring the temperature through electrical signal, these sensors are used in various systems to measure the heat released and alert the end-user.
Advancement in Nano and micro technology is helping in the development of high performance, reliable, accurate and cost-effective temperature sensors solution for various industrial solutions. Sensors are available in different forms according to specific installation like integrated circuit (IC) temperature sensor are used in electronic applications to detect the heat released and start the cooling device. Temperature sensors have benefits like durability, accuracy, and low power consumption. Demand for contactless temperature sensors for hazardous locations is also expected to boost the demand for these sensors. Stringent regulations with respect to the application of temperature sensors for ensuring over-heating issues will propel the market growth in the forecast period.
The temperature sensor market is segmented by type as resistor temperature detectors, thermocouples, infrared, thermistors, and others. Thermistors are thermally sensitive resistors whose prime function is to exhibit a large, predictable and precise change in electrical resistance when subjected to a corresponding change in body temperature. Integrated circuits sensors are available in a variety of interfaces like analog or digital. The integrated circuit produces an output current proportional to absolute temperature. The sensor package is small with a low thermal mass and fast response time. RTD is a resistance thermometer or resistance temperature detector which has higher accuracy and repeatability. The infrared temperature sensor senses electromagnetic waves in the 700 nm to 14,000 nm range. IR sensors read moving objects which can’t be read properly by contact temperature sensors.
By End-User Industry
By end-user industry, the temperature sensor market is segmented into automotive, oil and gas, food and beverage, HVAC, consumer electronics, chemical, and others. Temperature sensors are used in automotive sensors for sensing the temperature of liquid and gases in a vehicle. In Food and Beverage industry temperature sensors are used for keeping the food out of danger zone and activate alarms to alert workers when the temperature exceeds or drop from the safe range as a few degrees can make a lot of difference between a safe product and one contaminated with harmful bacteria.
Geographically, the temperature sensor market is classified into North America, South America, Europe, Middle East, and Africa, and the Asia Pacific The report also analyses major countries across these regions with complete analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers. The mature market in North America coupled with the presence of a large number of global market players has led to the deployment of temperature sensors across various end-use industries. Asia Pacific region will witness the fastest regional market growth during the forecast period owing to rapid industrialization and urbanization in emerging economies, leading to rising adoption of temperature sensors across food and beverage, oil and gas, consumer electronics, and automotive industries.
Prominent key market players in the temperature sensor market include Honeywell International Inc., Texas Instruments Incorporated, Microchip Technology Inc., Delphi, and Panasonic Corporation of North America among others. The market is highly competitive owing to the presence of a large number of market players. These players are adopting various strategies such as new product launches, M&A, partnerships, and business expansion to gain a competitive advantage in the global temperature sensors market. Recent developments in the market are: - In 2018 Escobee got investment worth 61 million from Amazon for smart thermostat connected devices in the industry.
|Market size value in 2019||US$6.307 billion|
|Market size value in 2025||US$8.304 billion|
|Growth Rate||CAGR of 4.69% from 2019 to 2025|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Connectivity, End-User Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||HONEYWELL INTERNATIONAL INC., Texas Instruments Incorporated, Microchip Technology Inc., Delphi, Panasonic Corporation of North America, NXP Semiconductors, ABB, Siemens, General Electric, Schneider Electric, Emerson Electric Co.|
|Customization scope||Free report customization with purchase|
The Temperature Sensor market is segmented by type, connectivity, end-user industry, and geography.
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