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.
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This report segments the temperature sensor market by
product type, end-user industry, and region. By product type, the
temperature sensor market has been segmented into contact-type
temperature sensor and noncontact-type temperature sensor. The market
for contact-type temperature sensor is expected to grow at a higher CAGR
between 2018 and 2023 owing to the various advantages of these sensors,
such as easy handling, increased throughput rates, fast response time,
high flexibility, and prolonged service life.
By end-user industry, the temperature sensor market
has been segmented into chemicals, oil & gas, consumer electronics,
energy & power, automotive, healthcare, food & beverages, metals
& mining, advanced fuels, aerospace & defense, glass, and pulp
& paper. The chemicals end-user industry is expected to dominate the
market during the forecast period. Growing demand for advanced and
portable healthcare equipment is driving the temperature sensor market.
With the onset of technologies such as advanced patient monitoring
systems and portable health monitoring systems, demand for temperature
sensors is on the rise. Temperature control plays an important role in
food safety management. In food safety management, temperature
controlling or monitoring is required in various stages, such as
cooking, hot holding, reheating, refrigeration, cooling, freezing, and
defrosting.
Temperature sensors are used in personal computers
mainly for controlling and monitoring the temperature of CPU. Generally,
3–5 temperature sensor ICs are used in desktops and laptops. As
computers/desktops and laptops are vulnerable to overheating, measuring
and controlling temperature is of utmost importance. Hence, personal
computers (PCs) have contributed significantly to the growth of the
temperature sensor market. However, the introduction of smartphones and
tablets has impacted the shipment of PCs. Hence, the declining trend of
the PC market has adversely affected the growth of the temperature
sensor market.
The temperature sensor market in APAC is expected to
grow at the highest CAGR during the forecast period. APAC has strong
demand for consumer equipment, including portable healthcare electronics
and white goods. In addition, the increasing industrial automation,
especially in automotive and food & beverages sectors, will generate
more demand for temperature sensors in APAC.
Major players in the temperature sensor market are
ABB (Switzerland), Texas Instruments (US), Analog Devices (US),
Honeywell International (US), Amphenol (US), Global Mixed Mode
Technology (Taiwan), Integrated Device Technology (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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Northbrook, IL 60062
USA : 1-888-600-6441
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 7500 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. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
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