The temperature sensor market was valued at USD 5.29
Billion in 2017 and is expected to reach USD 7.48 Billion by 2023, at a
CAGR of 5.9% during the forecast period. The base year considered for
the study is 2017, and the forecast period considered is 2018–2023.
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The
objective of the report is to provide a detailed analysis of the
temperature sensor market by product type, end-user industry, and
region. The report forecasts the market size, in terms of value, of
various segments with regard to 4 main regions North America, Europe,
APAC, and RoW. It strategically profiles the key players and
comprehensively analyzes their rankings and core competencies in the
temperature sensor market, and details the competitive landscape for
these market leaders.
The research methodology used to estimate and
forecast the temperature sensor market begins with capturing data on key
vendor revenues through secondary research. Secondary sources used for
this research study include government sources and corporate filings
(such as annual reports, investor presentations, and financial
statements).
The bottom-up procedure has been employed to arrive at the
overall size of the temperature sensor market from the revenue of key
players in the market. After arriving at the overall market size, the
total market has been split into several segments and subsegments, which
have been verified through primary research by conducting extensive
interviews with experts such as CEOs, VPs, directors, and executives.
The data triangulation and market breakdown procedures have been
employed to complete the overall market engineering process and arrive
at the exact statistics for all segments and subsegments. The breakdown
of the profiles of primary respondents has been depicted in the below
figure.
• Market for contact-type temperature sensor to grow at higher CAGR during forecast period
• Chemicals to account for largest size of temperature sensor market in 2018
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).
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