Global Temperature Sensor Market was worth US$ 6.9 Bn in 2020 and total revenue is expected to grow at a rate of 4.5 % CAGR from 2021 to 2027, reaching almost US$ 9.39 Bn in 2027.
A Temperature sensor is device that measure the temperature and convert the analog output into its digital output. The market is being driven by the increasing adoption of HVAC modules in the automotive industry and the growing demand for temperature sensors across a variety of industrial end users. Rising global focus on security and surveillance, as well as government measures toward safety requirements, aid market growth. The market’s expansion is aided by strong demand for consumer electrical devices. The advent of IoT and IIoT as a result of the shift toward digitalization in electronics has spurred the expansion of temperature sensors. The sensing industry’s digital revolution has aided manufacturers in designing and developing new temperature sensors that use a digital interface with a low interface. The increasing use of temperature sensors in the industrial market is expected to propel the Temperature sensors market forward throughout the forecast period. New technical breakthroughs in the Petrochemical Industry are important growth factors for the Temperature Sensors market.
Temperature Sensor Market Overview:
The Maximize Market research report gives you a complete report of theglobal Temperature Sensor Market. The study focuses on developing Market trends and important growth factors to assist Market participants in identifying opportunities in the Temperature Sensor Market. The research provides a comprehensive overview of the Market, as well as Market financials such as Market size from 2015 to 2020, with 2020 as the base year and forecast years 2021-2027. The breadth and segments of the global Temperature Sensor Market are covered in the Maximize Market Research report, which categorises it by product type, application areas, and geographies. The Market segmentation prioritises specific Markets and prospects over individual segments. North America, Europe, APAC, South America, and MEA are the major regions of the world included in the report. This provides a revenue forecast for each region from 2021 to 2027.
COVID-19 Impact on Global Temperature Sensor Market:
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The key manufacturers in the Temperature Sensor Market
• Honeywell International Inc.
• Global Mixed Mode Technology, Inc.
• Kongsberg Gruppen
• Integrated Device Technology Inc.
• Microchip Technology Inc
• Maxim Integrated Products Inc
• NXP Semiconductors N.V.
• TE Connectivity Ltd
• On Semiconductor Corporation
• STMicroelectronics N.V
• Texas Instruments Inc.
• Omega Engineering
This Maximize Market research report shows the possible economic benefits of investing in the Temperature Sensor Market to provide a greater understanding of the industry. Not only does the research provide a bright view for the Market, but it also analyses the drawbacks and risks that may arise for investment or competitiveness as a result of the emergence of some unfavourable aspects. The study’s research analysts and industry speakers share their forecasts of the Temperature Sensor industry. The goal of this Maximize Market Research report is to compile the opinions and recommendations of the industry leaders who were contacted throughout the research.
Global Temperature Sensor Market Regional Analysis Includes:
- Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
- Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
- North America (the United States, Mexico, and Canada.)
- South America (Brazil etc.)
- The Middle East and Africa (GCC Countries and Egypt.)
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The overall purpose of the Maximize Market research report is to determine Market priorities and bottlenecks. The paper also offers advice on how to best handle the risks posed by new and disruptive technologies. Most importantly, referring to this report assists Market participants in staying informed of changing Market dangers and providing the best advice possible to Market participants, as well as the introduction or amendment of regulatory processes. This Maximize Market Research report study contains results and suggestions tailored to all Market players, investors, stakeholders, and other participants in the global Temperature Sensor Market. This Maximize Market research report will serve as a valuable resource for those looking to acquire a competitive advantage in the Market.
Based on Product Type, the market is sub–segmented into Thermistor, Thermocouple, Temperature Sensor IC, Resistive Temperature Detector (RTD), Bimetallic Temperature Sensor, Fiber Optic Temperature Sensor and Infrared Temperature Sensor. The IR temperature sensor held the largest market share of xx% in 2020. IR temperature sensors have traditionally been used in a range of defense applications, including optical target sighting and changeable emissivity measures, which are typically useful in tracking activities. All of these applications, are quite advanced and will continue to be in high demand due to rising military spending around the world. Infrared temperature sensors, like all other sensors on the market, have seen a growth in demand from the manufacturing sector in recent years, owing in large part to the global adoption of Industry 4.0 policies. In the field of predictive maintenance, infrared temperature sensors are obtaining a significant portion of the market. There is a considerable demand for temperature monitoring of moving parts, which is rarely met by the efficiency of infrared temperature sensors.
Based on Process End use application, the market is sub-segmented into Oil and Gas, Metal, Plastics, Chemical and Petrochemical, Energy and Power, Food and Beverages and Refining Glass. Food and beverages dominating in the market to attain improved quality and consistency, food and beverage businesses are increasingly depending on automated controls. As a result, the need for sensors has increased. The increased use of sensors has resulted from the necessity for instruments and controllers that properly measure, regulate, or record pressure, temperature, or other parameters. Sensor companies must offer a diverse range of products to meet consumer preferences in the competitive food and beverage market. Consumers care about achieving the highest levels of quality in a consistent and cost-effective manner.
The study examines these categories in depth, as well as their Market financials, such as Market size from 2015 to 2020, with 2020 as the base year and forecast years 2021-2027.
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