Farmington, May 11, 2023 (GLOBE NEWSWIRE) -- The Global Remote Temperature Sensor Market Was Valued At $1.81 billion In 2022 And Is Expected To Expand $3.12 billion By 2030 at a CAGR Of 7.2% From 2023 To 2030. Key factors driving the growth of this market include the increasing penetration of temperature sensors in advanced & portable healthcare equipment, growing popularity of smartwatches, increasing demand for sensors in the food and beverage industry.
More people are purchasing wearable devices, such as smartwatches and fitness trackers, that use temperature-sensing technology to track the wearer's body temperature and provide information about their health. Food and beverage manufacturers increasingly rely on automated controls to improve the quality and consistency of their products. This has consequently increased the demand for sensors.
Request Sample Copy of Report “Remote Temperature Sensor Market Size, Share & Trends Estimation Report By Product Type Outlook (Contact Temperature Sensors, Non-Contact Temperature Sensors) By Output (Digital, Analog) By Connectivity (Wired, Wireless) By End-User (Automotive, Chemicals, Oil & Gas, Metals & Mining, Consumer Electronics, Aerospace & Defense, Energy & Power, Healthcare, Food & Beverages, Pulp & Paper, Others) By Region, And Segment Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
Segmentation Overview:
Product Type Outlook:
From 2022 to 2028, the market for non-contact temperature sensors is anticipated to expand more rapidly than the market for contact temperature sensors. Non-contact temperature sensors can measure the surface temperature of an object without touching it. These temperature sensors are typically utilized for small, portable, and difficult-to-access sources, objects, and devices.
Output:
During the study period, digital output dominated the temperature sensor market because it was used more in aerospace, medical, test and measurement equipment, home automation, industrial automation, and industrial automation. The digital temperature sensor market will also be driven by the fact that more people are using fitness wearables and that they can be used in remote applications.
Connectivity:
In the global temperature sensor market, the wireless temperature sensor is anticipated to have a high CAGR during the forecast period. Increased adoption of wireless temperature sensors in industries as a result of their non-contact measurement capability to reach locations where physical installation is impractical. In the oil and gas industry, temperature measurements are crucial for compressors, wellhead tanks, chemical tanks, flare systems, and pipeline data collection, among other applications. This is because it would be ineffective to install a wired device inside a tank or pipe if the operating temperature was high.
End-User:
Consumer electronics is the largest segment of the global temperature sensor market. This is because wearable devices such as fitness trackers are gaining popularity. In addition, there is an increase in demand for smart homes, smart phones, tablets, PCs, laptops, etc., as well as smart meters for power generation. Along with an increase in demand for portable game consoles, this will contribute to the expansion of the consumer electronics segment of the temperature sensor market. Consequently, we require an increasing number of devices with built-in temperature sensors that can monitor temperature without making matters more complicated.
In the health care industry, MRI machines, thermometers, and diagnostic imaging equipment with built-in temperature sensors are in high demand. Thus, it is anticipated that the health care sector will lead the market for temperature sensors. Increasing demand for wearable health devices will drive the market for temperature sensors.
Regional Analysis:
The global market for Remote Temperature Sensors has been analysed in various regions, including North America, Latin America, the Middle East, Asia-Pacific, Africa, Europe, and India. In the near future, the global Remote Temperature Sensors region will dominate this market.
During the forecast period, North America is anticipated to generate the most market revenue. The expansion of the industrial manufacturing and automotive industries in the U.S. and Canada is driving the demand for these sensor solutions.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 7.2% from 2023 to 2030. |
| Revenue Forecast by 2030 | $3.12 billion |
| By Product Type |
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| By Output |
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| By Connectivity |
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| By End-User |
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| By Companies |
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| Regions and Countries Covered |
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| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Restraining Factors:
• Advanced Sensors carry a hefty upfront price
Cobalt, nickel, manganese, iron alloy, copper, and iron are among the raw materials that Temperature Sensor Market manufacturers require. These businesses cannot acquire these materials without assistance from other businesses. The fact that the prices of these raw materials fluctuate greatly and that they are not always available makes it difficult for temperature sensor manufacturers to make a profit. Changes in the prices of raw materials are caused by factors such as the instability of the global economy, the availability of raw materials, trade tariffs, wars and other political events, an increase in global demand, natural disasters, and the volatility of foreign exchange rates. In addition, the increasing competitiveness of the global marketplace demonstrates the high price of quality inspection. Therefore, quality must be integrated into the production process. This implies that the process must be under control, either by using sensors to monitor it continuously or by removing the product at various stages of production for inspection. As a result, high start-up costs are likely to hinder the production and distribution of temperature sensors.
• Dangers of Using Temperature Sensors in Harsh Conditions
Products, tools, and systems that must function in harsh environments are only as reliable as their least reliable component. In such environments, temperature sensors are frequently the weakest link, resulting in costly problems and downtime. This is true in numerous industrial contexts, such as oil and gas, aerospace, HVAC, metal processing, power generation, water treatment, and metal processing. Typical environmental factors that can damage sensors include extreme temperatures, physical shocks or vibrations, humidity, corrosion, and radiation.
• Absence of Qualified Service Personnel
From retiring baby boomers in North America, Europe, and Japan to a lack of qualified engineers in Asia and other regions, there are not enough people to work in service jobs, which is slowing the growth of temperature sensor supplier services. Unfortunately, the number of qualified workers continues to decline as fewer college students, particularly in the United States, find process automation, process engineering, chemical engineering, and other technical fields to be appealing professions. It can take a company two years to properly train a recent college graduate in the field of automation, and once the individual is properly trained, it may be difficult to retain them. This "brain drain" in the process industries causes some intriguing issues. This includes the inability of suppliers to find and retain qualified service personnel to help clients maintain their field devices and replace those that break. This makes it more difficult for suppliers to capitalize on their customers' increasing demand for field services.
Opportunity Analysis:
• The growing popularity of wearable devices
Several biometrics, including the heartbeat and body temperature, can be monitored with wearable devices. Wearable devices are rapidly gaining popularity, and an increasing number of individuals want to use them to improve their fitness and overall health. Currently, one in six people own and use a wearable device, and this proportion is expected to rise in the coming years. The players on the Temperature Sensor Market should be able to earn more money as a result of this rising demand and the growing concern for health among the population.
• Innovation in Advanced Technology
New technologies, such as micro and nano technologies, have been developed in response to the growing demand for sensors that are dependable, efficient, and affordable. The advantages of these technologies include miniaturization, reduced energy consumption, and mass production. In addition, new technological developments in the petrochemical industry will expand the market for temperature sensors.
Key Segments Covered:
Top Market Players:
- Honeywell
- Emerson
- OMEGA Engineering
- Dwyer Instruments
- E+E Elektronik
- Others
By Product Type:
- Contact Temperature Sensors
- Non-Contact Temperature Sensors
By Output:
- Digital
- Analog
By Connectivity:
- Wired
- Wireless
By End-User:
- Automotive
- Chemicals
- Oil & Gas
- Metals & Mining
- Consumer Electronics
- Aerospace & Defense
- Energy & Power
- Healthcare
- Food & Beverages
- Pulp & Paper
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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