According to FMI, the temperature sensor market is estimated to be valued at US$ 7,077.5 Million in 2022 and is projected to increase at a CAGR of 4.3 % in the forecast period from 2022 to 2032.
Temperature sensors is gaining a lot of popularity and its increasing importance due to its usage in varied number of applications such as automotive, electronics, aerospace, healthcare, petrochemical. Companies are investing huge in research and development activities of temperature sensors, especially developed countries to enhance its functionality and product innovation. With rapid advancement in technology and increase usage of temperature sensor instruments in various industrial applications, the market for temperature sensors market is growing at a positive rate globally.
Recently, US Naval Research Laboratory and UNL Engineers designed a next generation temperature sensor set for the improved measurement of marine biology, climate patterns and military operations. It can register a smaller temperature changes of approximately 30 times the speed of existing commercial counterparts. At the tip of the fused silica glass, researchers have attached a small silicon pillar. It transfers the heat at ease and then combined with the small size of sensor, which then allows the silicon to register these changes at a faster rate.
Temperature Sensors Market: Drivers & Restraints
Increasing demand for high performance sensor instruments, technological advancements, increase innovation, increasing trends of security and surveillance, increasing demand of consumer electronics, increasing intervention of Government for environmental and safety concerns, are the important market drivers for temperature sensors market.
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Though temperature sensors are lot in demand, but it has a lot of constraints too like, lack of skilled professionals and high cost of operation and devices, are some of the barriers which are hampering the growth of temperature sensors market.
Temperature Sensors Market: Segmentation
Temperature sensors market is broadly classified on the basis of the following segment –
By Product:
Thermistor
Temperature Sensor IC
Resistive Temperature Detector
Thermocouple
Bimetallic Sensors
Fiber Optic Sensors
Others
By Application:
Consumer electronics
Automotive
Healthcare and Medical
Environmental
Aerospace and Defense
Power Generation
Petrochemical
Others
Temperature Sensors Market: Overview
Temperature sensors market has grown substantially at a healthy CAGR due to recent advancements in the technology and increasing demand in applications. Asia Pacific will emerge as the fastest growing region for temperature sensors market due to increasing demand for high performance sensors. China and India will be contributing the most in temperature sensors market.
Temperature Sensors Market: Region-wise Outlook
The temperature sensors market is expected to register a double-digit CAGR for the forecast period. Depending on geographic regions, temperature sensors market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. Asia Pacific is the fastest growing market specially in the countries like China and India. Developed countries like Europe would see a slower growth rate.
Temperature Sensors Market: Key Players
Some of the key market players in temperature sensors market are ST Microelectronics, Texas Instruments, Analog Devices, Siemens, National Semiconductors, Microchip Technology, Honeywell International.
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Key segments profiled in the temperature sensor market
By product, the temperature sensor market is segmented as:
- Thermistor,
- Temperature Sensor IC,
- Resistive Temperature Detector,
- Thermocouple,
- Bimetallic,
- Fibre Optic Sensor,
- Infrared Sensor
By connectivity type, the temperature sensor market is segmented as:
- Wired
- Wireless
By Application, the temperature sensor market is segmented as:
- Consumer electronics,
- Automotive,
- Healthcare and Medical,
- Environmental,
- Aerospace and Defence,
- Power Generation,
- Petrochemical,
- Other
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