Dublin, April 03, 2024 (GLOBE NEWSWIRE) -- The "Temperature Sensors: Global Markets" report has been added to ResearchAndMarkets.com's offering.
The global market for temperature sensors is expected to grow from USD 7.3 USD in 2023 to USD 9 USD by the end of 2028, at a compound annual growth rate (CAGR) of 4.30% from 2023 through 2028.
The report provides an overview of the temperature sensors global market value and volume and analyzes its trends. Using 2022 as the base year, the report provides estimated market data for the forecast period from 2023 through 2028. Revenue forecasts for this period are segmented by technology type, industry, and geographical region. It also highlights major trends and challenges that affect the market, concluding with an analysis of the vendor landscape and including detailed profiles of major players in the global temperature sensors market.
Microtechnology has revolutionized the electronics industry, and miniaturization has now become a standard part of any system. Industrial requirements have increased, indicating room for growth in sensor usage. Automotive safety markets have reacted swiftly, creating demand for temperature sensors.
Technological Advancements and Applications
Temperature sensors have become smarter with the introduction of microcontrollers, wireless communication, and other smart functions. The demand for these sensors is growing steadily; so is the demand for temperature meters working in harsh environments. Over the years, the sensors have evolved in terms of sensitivity, reliability, compactness, and versatility as a consequence of the ever-growing need for enhanced technology. An overall trend away from contact technologies toward radiation technologies can be observed, especially in high-temperature applications. Wireless sensors are also advancing, especially for improving HVAC systems in commercial buildings.
Market Dynamics and Growth Factors
Major drivers of the temperature sensor market include the growing demand for smart connected devices, industrial and home automation devices, and an increase in the development of connected and autonomous vehicles. Pricing and the maturity of critical end-user segments act as restraints to this market, whereas advances in MEMS sensors (micro-electromechanical systems sensors) and nanotechnology applications present future opportunities.
Report Includes
- 50 data tables and 35 additional tables
- An overview of the global market for temperature sensors
- Analysis of global market trends, featuring historical revenue data for 2022, estimated figures for 2023, forecasts for 2026-2028 and projections of compound annual growth rates (CAGRs) through 2028
- Evaluation of the current market size and revenue growth prospects for temperature sensors, along with a market share analysis by technology, industry and geographic region
- Coverage of the history and development of modern sensors, a life cycle assessment, and value chain processes for temperature sensors
- An assessment of market dynamics and identification of the factors and recent innovations that are affecting the temperature sensor market
- Identification of those market segments with the highest growth potential and their future applications
- Discussion of the major manufacturers in each region
- Profiles of leading market participants
Company Profiles
- Amphenol Corp.
- Analog Devices Inc.
- Baumer
- Emerson Electric Co.
- Endress+Hauser Group Services Ag
- Honeywell International Inc.
- Murata Manufacturing Co. Ltd.
- STMicroelectronics
- TE Connectivity
- TDK Corp.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 112 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $7.3 USD |
| Forecasted Market Value (USD) by 2028 | $9 USD |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Executive Summary
- Market Outlook
- Market Summary
- Scope of the Report
- Technological Advancements and Applications
- Market Dynamics and Growth Factors
- Future Trends and Developments
- Segmental Analysis
- Regional Insights and Emerging Markets
- Conclusion
Chapter 2 Market Overview
- Temperature Sensors Overview
- Porter's Five Forces Analysis of Temperature Sensors
- Bargaining Power of Buyers
- Bargaining Power of Suppliers
- Threat from Substitutes
- Potential of New Entrants
- Competition in the Industry
- Value Chain Analysis of Temperature Sensors
- Research & Development
- Raw Material Suppliers
- Temperature Sensor Manufacturers
- Suppliers and Distributors
- End Users
- Future of Temperature Sensors
Chapter 3 Market Dynamics
- Market Dynamics
- Market Drivers
- Growing Demand for Smart Connected Devices, Industrial and Home Automation Devices
- Massive Infrastructural Development in Terms of Smart Cities, Factory Automation, and Industry 4.0
- IO-Link: Intelligent Communication Technology
- Increasing Use of MEMS Temperature Sensors
- Market Challenges/Restraints
- High Competition for Sensor Pricing
- Trade War and Tech War Is Causing Slow Growth in Electronics Market
Chapter 4 Emerging Technologies and Developments
- IoT Temperature Sensors
- Flexible Temperature Sensors
- Patent Analysis
Chapter 5 Market Segmentation Analysis
- Segment Breakdown
- Temperature Sensor Market by Technology
- Thermocouple
- Resistance Temperature Detector
- Thermistor
- Infrared
- IC Digital
- Others
- Temperature Sensor Market by Industry
- Automotive
- Healthcare
- Aerospace & Defense
- Manufacturing
- HVAC System
- Consumer Electronics
- Others
- Geographic Breakdown
- Temperature Sensor Market by Region
- Americas
- Europe
- Asia-Pacific
- Middle East and Africa
Chapter 6 Competitive Intelligence
- Top Players in the Temperature Sensors Industry
- Strategic Analysis
- Recent Key Developments
- M&A and Venture Capital Funding Outlook
- M&A Analysis
- Venture Capital (VC) Funding in Temperature Sensors Market
Chapter 7 Sustainability in Temperature Sensors Industry: An ESG Perspective
- Overview
- Current Status of ESG in the Temperature Sensors Market
- ESG Practices in the Temperature Sensors Market
- Concluding Remarks
Chapter 8 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/gwt02o
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