A temperature sensor is a device that detects and measures hotness and coolness and converts it into an electrical signal. The usage of temperature sensors in manufacturing industries and automotive industries along with the technological advancements in the petrochemical industry attributes to the market growth of temperature sensors. Furthermore, the rising demand for shopping centers to maintain the constant ambient temperature coupled with the higher usage of temperature sensors in the food beverage industry are the factors driving the market for temperature sensors.
The temperature sensors market is expected to grow at a steady rate of around 5% owing to the rising number of chronic diseases and increasing demand for fossil fuels. Other factors such as the growing demand for advanced and portable healthcare equipment is also driving the market’s growth during the forecast period. With the advent of advanced technologies, such as the advanced patient monitoring system and portable monitoring systems, is also increasing the demand for temperature sensors during the coming years.
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According to UnivDatos Market Insights (UMI)’ research report “Global Temperature Sensors Market”, the market is expected to witness robust growth during the forecast period (2022-2028). This is mainly due to the rapid urbanization and increasing number of industries.
Based on the type, the market has been categorized into contact and non-contact. Among them, the non-contact segment is expected to have significant growth in the market. The non-contact temperature sensors generally consist of infrared or fiber optic sensors that detect the temperature. The non-contact sensors are easy to use, reduce the risk of disease spreading, and measure the temperature accurately.
Based on the application, the market has been categorized into chemical, oil gas, consumer electronics, healthcare, automotive, and others. Among them, the oil gas segment is expected to have significant growth in the market during the forecast period. The sensors are used in various processes in the oil gas industry such as extraction, refining, and production to prevent moisture, overheating, and corrosion resulting. Thus, the oil gas industry witnessing increasing demand for sensors.
North America to witness extensive growth
For a better understanding of the market adoption of the temperature sensors industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America constitutes a significant temperature sensor market due to the presence of major market players and the large investment in the technology is the major factor in the market growth of the temperature sensors in the region.
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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Temperature Sensors market are Honeywell International Inc., TE Connectivity Ltd., Texas Instruments Incorporated, Endress+Hauser Management AG, Siemens AG, Maxim Integrated, Emerson, ABB, NXP, and Kongsberg.
“Global Temperature Sensors Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
Market Segmentation:
- By Type (Contact and Non-contact)
- By Application (Chemical, Oil Gas, Consumer Electronics, Healthcare, Automotive, and Others)
- By Region (North America, Europe, Asia-Pacific, Rest of the World)
- By Company (Honeywell International Inc., TE Connectivity Ltd., Texas Instruments Incorporated, Endress+Hauser Management AG, Siemens AG, Maxim Integrated, Emerson, ABB, NXP, and Kongsberg.)
Key questions answered in the study:
- What are the current and future trends in the global temperature sensors industry?
- How the industry has been evolving in terms of type and application?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the global temperature sensors industry?
- What is the customer orientation, purchase behavior, and expectations from the global suppliers across various region and countries?
