Temperature Sensor Market to USD 7.48 Billion by 2023, at a CAGR of 5.9% between 2018 and 2023

According to the research report on "Temperature Sensor Market by Product Type (Bimetallic, Thermistor, IC, RTD, Thermocouple, IR, Fiber Optic), End-User Industry (Oil & Gas, Chemicals, Automotive, Consumer Electronics, Healthcare), and Geography - Global Forecast to 2023", the temperature sensor market, the overall market is estimated to grow from USD 5.62 Billion in 2018 to USD 7.48 Billion by 2023, at a CAGR of 5.9% between 2018 and 2023. The increasing penetration of temperature sensors in advanced and portable healthcare equipment, growing demand for temperature sensors in the  automotive sector, and the increasing adoption of home and building automation systems are the key factors driving the temperature sensor market growth.

Download PDF Brochure:-
https://www.marketsandmarkets.com/pdfdownload.asp?id=522

Browse 66 market data Tables and 58 Figures spread through 166 Pages and in-depth TOC on "Temperature Sensor Market"https://www.marketsandmarkets.com/Market-Reports/temperature-sensor-market-522.html
Early buyers will receive 10% customization on this report.

Market for contact-type temperature sensor to grow at higher CAGR during forecast period

Contact-type temperature sensors comprise thermocouple, RTD, thermistor, temperature sensor IC, and bimetallic temperature sensor. These are widely used in industries such as chemicals, consumer electronics, oil & gas, energy & power, and automotive, owing to their low cost, wide temperature range, and high accuracy. The rising adoption of temperature sensors in automotive, chemicals, and consumer electronics sectors is the major driving factor  for the market. Moreover, it is expected that the growth of contact-type temperature sensors will be driven by wearables, smartphones, and other consumer electronics devices.

Chemicals to account for largest size of temperature sensor market in 2018

Monitoring and controlling temperature in any chemical process is of vital importance. There are various critical and sensitive chemical processes wherein a small change in temperature may damage the processing equipment, as well as lead to loss of hundreds of thousands. Therefore, temperature sensors play an important role in the chemicals end-user industry. Processes such as refining, heat tracing, cracking, and incineration, and systems such as sanitary systems and piping systems use temperature sensors for temperature monitoring and control. Such usage of temperature sensors in the chemicals end-user industry creates significant demand for these sensors.

APAC to dominate temperature sensor market during forecast period

The temperature sensor market in Asia Pacific is expected to grow at the highest CAGR during the forecast period as APAC has a strong demand for consumer equipment, including portable healthcare electronics and white goods. Increasing industrial automation, especially in automotive and food & beverages sectors, will generate demand for temperature sensors in APAC.

Major players operating in the temperature sensor market include ABB (Switzerland), Texas Instruments (US), Analog Devices (US), Honeywell International (US), Amphenol (US), Global Mixed Mode Technology (Taiwan), Integrated Device Tecgnology (US), Kongsberg Gruppen (Norway), Microchip Technology (US), ON Semiconductor (US), Endress+Hauser (Switzerland), Okazaki Manufacturing Company (Japan), Yamari Industries (Japan), STMicroelectronics (Switzerland), TE Connectivity (Switzerland), Gunther GmbH Temperaturmesstechnik (Germany), and Omega Engineering (US).

Inquiry Before Buying:-
https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=522

 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Rohan
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA : 1-888-600-6441 
sales@marketsandmarkets.com