The temperature sensor market is expected to be worth USD 7.48
Billion by 2023, growing at a CAGR of 5.9% between 2018 and 2023. The
increasing demand for temperature sensors, which are integrated into
devices such as wearable bands, smartphones, and patient monitoring
devices, from industries such as consumer electronics and healthcare is
driving the temperature sensor market growth. Also, 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. Along with this, consumer
electronics and food & beverages are the key end-user segments for
the temperature sensor market.
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The key strategies adopted by major players
in the temperature sensor market include product launches and
developments, acquisitions, partnerships, agreements, and
collaborations. Companies such as Siemens (Germany), Emerson Electric
(US), NXP Semiconductor (Netherlands), Maxim Integrated (US), and ABB
(Switzerland) have adopted these strategies to expand their customer
base and enhance their product portfolio.
ABB is one of the leading providers of temperature
sensors across the world. ABB Limited offers a broad portfolio of
temperature sensors. The company specializes in application-based
temperature sensors and offers a variety of application-specific
products. Thus, the company caters to the requirements of various
verticals. The company’s temperature sensors are widely used in
industrial, medical, non-computing, and automotive applications. ABB has
adopted inorganic growth strategies such as acquisitions to gain
competitive edge in the temperature sensor market. For instance, in
2017, ABB acquired GE Industrial Solution, GE’s global electrification
solutions business, for USD 2.6 billion. This acquisition helped ABB
expand its reach in the North American market through deep customer
relationships, large installed base, and extensive distribution networks
of GE (US).
Texas Instruments is one of the leading manufacturers
of temperature sensors. The company was founded in 1930 and is
headquartered in Dallas, Texas, US. The company has been strongly
focusing on R&D. It has strategically located R&D centers in
technologically developed and developing countries to expand its global
presence. It primarily operates in 3 major segments: Analog, Embedded
Processing, and Others (DLP, application-specific integrated circuits
(ASICs), and calculators). The company is engaged in organic growth
strategies by launching innovative products in this market space. For
instance, in 2015, Texas Instruments introduced LMT01, a 2-pin digital
pulse train output temperature sensor. This sensor eliminates the need
for analog-to-digital converter (ADC). It can be used in server and
power management applications.
Other companies operating in the temperature sensor
market include 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).
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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