Westford, USA, July 25, 2023 (GLOBE NEWSWIRE) -- The global Temperature Sensor market size is expected to reach USD 12 billion by 2030 and exhibit a CAGR of 5% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing environmental regulations and concerns about air and water pollution, which drive the demand for efficient filtration solutions, the growing emphasis on sustainable practices and corporate responsibility, leading industries to invest in eco-friendly filtration technologies, rising awareness about the health hazards posed by airborne contaminants and the need for cleaner working environments, expansion of industries such as oil and gas, pharmaceuticals, and chemicals, creating higher demand for filtration equipment, advancements in filtration technologies, making them more effective and cost-efficient, the need for enhanced product quality in manufacturing processes, which requires precise filtration to maintain stringent standards, is fueling the market's growth.
According to SkyQuest's latest global research of the Temperature Sensor market, increased adoption of IoT and smart technologies, enabling real-time monitoring and optimization of filtration systems, a growing shift towards renewable and sustainable filtration materials and processes, rising demand for mobile and modular filtration solutions to cater to diverse industrial needs, integration of artificial intelligence and machine learning algorithms for predictive maintenance and efficient filtration operations, emphasis on energy-efficient filtration systems to reduce operational costs and environmental impact, expanding applications of nanotechnology in filtration, enhancing filtration efficiency and precision, are the trends that aid in the market's growth.
Browse in-depth TOC on "Temperature Sensor Market"
- Pages - 165
- Tables - 69
- Figures -75
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A temperature sensor is a device that measures temperature. It converts the temperature into an electrical signal that can be read by a voltmeter or other measuring device. Temperature sensors are used in a wide variety of applications, including industrial, medical, and consumer electronics.
Prominent Players in Temperature Sensor Market
- Honeywell International Inc.
- Texas Instruments Incorporated
- TE Connectivity Ltd.
- Endress+Hauser Management AG
- Siemens AG
- Analog Devices, Inc.
- Maxim Integrated Products, Inc.
- Emerson Electric Co.
- WIKA Alexander Wiegand SE & Co. KG
- Sensirion AG
- Melexis NV
- STMicroelectronics N.V.
- Amphenol Advanced Sensors
- NXP Semiconductors N.V.
- Infineon Technologies AG
- Microchip Technology Inc.
- CUI Inc.
- Fluke Corporation
- Omega Engineering Inc.
- Dwyer Instruments, Inc.
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Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 5 Billion |
| 2030 Value Projection | 12 Billion |
| CAGR | 5% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Resistance Temperature Detectors (RTDs) Demand to Grow Substantially in the Forecast Period
Resistance Temperature Detectors (RTDs) dominated the global online market as they have high accuracy, stability, and linearity. They are commonly used in industries where precise temperature measurements are required, such as pharmaceuticals and laboratory equipment.
Automotive is the Leading Application Segment
In terms of application, automotive is the leading segment as they are used in engine management, exhaust gas monitoring, HVAC systems, and various other components to ensure efficient and safe operation of vehicles.
Asia Pacific is the leading Market Due to the Rapid Industrialization
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. countries have a substantial presence in industries such as automotive, consumer electronics, manufacturing, and healthcare, which are major consumers of temperature sensors. Additionally, the rising adoption of IoT devices, smart manufacturing, and home automation in the region has increased the demand for temperature sensors.
A recent report thoroughly analyzes the major players operating within the Temperature Sensor market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Temperature Sensor.
Key Developments in Temperature Sensor Market
- In January, Honeywell International Inc. acquired Sensirion AG, a leading manufacturer of MEMS-based temperature sensors. This acquisition will give Honeywell a significant market share in the MEMS-based temperature sensor market, and it will also help Honeywell to expand its temperature sensor portfolio.
- In February, Texas Instruments Incorporated acquired Melexis NV, a leading manufacturer of automotive temperature sensors. This acquisition will give Texas Instruments a significant market share in the automotive temperature sensor market, and it will also help Texas Instruments to expand its temperature sensor portfolio.
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Key Questions Answered in Temperature Sensor Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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