Temperature Sensor Market Size worth $ 10.6 Billion by 2031, TMR Study
WILMINGTON, Del., Sept. 27, 2022
- The rise in popularity of wearable medical technology is a significant element likely to drive temperature sensor demand during the forecast period.
- The market for temperature sensors is being driven by the rising usage of body-worn temperature sensors due to growing popularity of smartwatches and wearable clinical monitoring devices
WILMINGTON, Del., Sept. 27, 2022 /PRNewswire/ -- In 2021, the value of global temperature sensor market surpassed US$ 6 Bn. The global temperature sensor market report anticipate the market to rise at a CAGR of 5.4% during the forecast period, from 2022 to 2031. The global temperature sensor market size is anticipated to touch valuation of US$ 10.6 Bn by 2031. The increasing popularity of temperature sensors across a diverse range of end-use businesses and the high acceptance of temperature sensors to gauge heat emitted and inform the end-user are likely to have a significant impact on the global temperature sensor market.
Since temperature sensors are being used more often in wearable technology, consumer electronics, automobiles, as well as other applications, the demand for these devices is predicted to rise in the near future. The usage of temperature sensors in the healthcare business is expected to increase due to technological advancements including portable health monitoring devices and sophisticated patient monitoring systems.
The demand for imaging diagnostics equipment, thermometers, and MRI machines with built-in temperature sensors is also high in the healthcare sector. Consequently, it is projected that the healthcare industry will drive the demand for temperature sensor in the forthcoming years
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Key Findings of Market Report
- Controlling and keeping an eye on heat is crucial given current trends in personal computing, which call for smaller systems, faster processors, and the ability to host more sophisticated applications. The development of temperature sensors can still be supported owing to improvements in desktop and mobile computers.
- The perishable nature of food makes temperature control extremely important in the food and beverage business. In order to control the temperature and preserve the quality of the food, temperature sensors are utilized at various points from the warehouse to various retail businesses. Increasing demand from the food and beverage business is likely to drive the global market for temperature sensors
- Temperature sensors are being used more often in building and home automation as they provide information to smart devices about their surroundings. The major sensor utilized in home and building automation is the thermal sensor. In order to maintain and regulate the temperature automatically, these sensors include lighting control systems, HVAC, and fire alarm detection systems. The need for temperature sensors is predicted to rise as more people use this sensor.
- The Asia Pacific region, which is currently the largest producer of automobiles and electronics, is anticipated to retain its leadership of the global market for temperature sensors. Such growth of the regional market is due to the region's strong consumer demand for products like portable medical gadgets. According to estimates, this will boost the use of temperature sensors in the Asia Pacific region, which is expected to acquire considerable temperature sensor market share.
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Global Temperature Sensor Market: Growth Drivers
- The adoption of body-worn temperature sensors is being driven by the Internet of Things (IoT), which is expanding its applications. Constant patient condition monitoring is done with the use of body-worn sensors. This also stimulates the demand for temperature sensors.
- For optimal engine performance, the temperature of fossil fuel-powered vehicles' engines is constantly checked and maintained. Due to this, temperature sensors are increasingly being used in the automobile industry, which is expected to drive future scope of temperature sensor market.
Global Temperature Sensor Market: Key Players
Some of the key market players are
- Semiconductor Components Industries, LLC
- Hans Turck GmbH & Co. KG
- Renesas Electronics Corporation
- Murata Manufacturing Co., Ltd
- Robert Bosch GmbH
- WIKA Instruments India Pvt. Ltd
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Global Temperature Sensor Market: Segmentation
- Contact Temperature Sensors
- Non-contact Temperature Sensors
End Use Industry
- Automotive and Transportation
- Aerospace & Defense
- Energy & Utility
- Oil & Gas
- Building and Construction
- Consumer Electronics
- Food & Beverages
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