New York, United States , June 13, 2023 (GLOBE NEWSWIRE) -- The Global Temperature Sensor Market Size is to grow from USD 7.05 Billion in 2022 to USD 10.64 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.2% during the forecast period.
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A temperature sensor is an electronic device used to measure and monitor temperature in various applications. It converts temperature changes into electrical signals, enabling accurate temperature detection. Temperature sensors are employed in industries like automotive, aerospace, healthcare, and home automation. They utilize different principles such as resistance, voltage, thermocouples, and infrared radiation. Common types include thermistors, thermocouples, resistance temperature detectors (RTDs), and digital temperature sensors. They find applications in climate control, industrial processes, food storage, medical devices, and environmental monitoring. Temperature sensors are crucial for maintaining optimal conditions, ensuring safety, and enhancing energy efficiency in a wide range of environments.
Report Coverage
This research report categorizes the market for temperature sensor market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the temperature sensor market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the temperature sensor market.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on "Global Temperature Sensor Market Size, Share, and COVID-19 Impact Analysis, By Product (Contact and Non-Contact), By Output (Analog and Digital), By Application (Chemical, Oil & Gas, Consumer Electronics, Healthcare, Automotive, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032" Get Detailed Report Description Here
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The non-contact sensor is expected to grow at a CAGR of around 4.5% during the forecast period.
Based on product type, the global temperature sensor market is segmented into contact and non-contact. Non-contact temperature sensors are anticipated to witness significant growth in the forecast period. This is attributed to several factors. Non-contact sensors offer advantages such as remote temperature measurement, minimal interference with the object being measured, and suitability for hazardous or inaccessible environments. They find applications in industries such as automotive, aerospace, and medical, where precise and contactless temperature monitoring is required. Additionally, the increasing adoption of non-contact temperature sensors in consumer electronics, home automation, and smart devices further fuels their market growth. The advancements in infrared and thermal imaging technologies, along with the development of miniaturized and cost-effective sensors, contribute to the growing popularity of non-contact temperature sensing solutions in various sectors.
The digital output segment is anticipated to grow at a higher CAGR during the forecast period.
Based on output, the global temperature sensor market is segmented into analog and digital. Digital output sensors are projected to experience significant growth in the forecast period due to several factors. The demand for digital output sensors is increasing as they offer numerous advantages over analog sensors, such as enhanced accuracy, ease of integration with digital systems, and compatibility with microcontrollers and digital interfaces. The rising adoption of IoT devices and industrial automation systems further drives the demand for digital output sensors, as they provide precise and reliable data for digital processing and analysis. Moreover, the advancements in sensor technology, including miniaturization and improved signal processing capabilities, contribute to the growing popularity of digital output sensors in various industries such as automotive, healthcare, consumer electronics, and manufacturing.
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Europe is predicted to grow at a higher CAGR of 5.1% over the projected period
Based on region, Europe is anticipated to experience fastest growth in the forecast period in the temperature sensor market. Several factors contribute to this projection. The region has a strong presence in industries such as automotive, manufacturing, healthcare, and aerospace, which extensively rely on temperature sensors for various applications. Additionally, there is a growing emphasis on energy efficiency and environmental regulations, driving the adoption of temperature sensors in HVAC systems, industrial processes, and smart buildings. Moreover, Europe has a robust research and development infrastructure, fostering technological advancements and innovations in temperature sensing technologies. These factors, combined with the region's focus on sustainability and technological advancements, make Europe a promising market for temperature sensors.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global temperature sensor market include Ablic, Amphenol Advanced Sensors, Analog Devices, Inc., Osram AG, Dwyer Instruments, Emerson, Hans Turck, Honeywell International, IFM Electronic, Kongsberg Gruppen, Littelfuse, Inc., Microchip Technology Inc., Murata, NXP Semiconductors, Omega Engineering, On Semiconductor Corporation, Pyromation, Renesas Electronics, Rohm Co., Ltd, Sensata, STMicroelectronics N.V, TE Connectivity, Texas Instruments, and Vishay Intertechnology.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global temperature sensor market based on the below-mentioned segments:
Temperature Sensor Market, By Product
- Contact
- Non-Contact
Temperature Sensor Market, By Output
- Analog
- Digital
Temperature Sensor Market, By Application
- Chemical
- Oil & Gas
- Consumer Electronics
- Healthcare
- Automotive
- Others
Temperature Sensor Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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