The Temperature Sensor Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Temperature Sensor Global Market Report 2024, The temperature sensor market size has grown strongly in recent years. It will grow from $8.94 billion in 2023 to $9.64 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to industrial automation, consumer electronics, energy efficiency initiatives, healthcare needs, food safety regulations..
The temperature sensor market size is expected to see strong growth in the next few years. It will grow to $13.55 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to environmental monitoring, healthcare wearables, agriculture and precision farming, cold storage and logistics, data center cooling.. Major trends in the forecast period include miniaturization and iot integration, non-contact temperature sensing, wireless temperature monitoring, industrial automation, high-precision sensors.
The growing healthcare sector is significantly contributing to the growth of the temperature sensor market. The rising healthcare business necessitates the use of temperature sensors to provide dependable and precise monitoring of key temperatures. Temperature sensors are used in sleep apnea machines, digital thermometers, blood analyzers, anesthesia delivery machines, neonatal intensive care units to monitor patient temperature, ventilators, medical incubators, humidified oxygen heater temperature monitoring and control equipment, and kidney dialysis machines. For instance, according to India Brand Equity Foundation (IBEF) report, the healthcare sector is estimated to reach USD372 billion by 2022. Therefore, the growing healthcare sector drive the temperature sensor market in the coming years.
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The temperature sensor market covered in this report is segmented –
1) By Product Type: Contact Temperature Sensors, Non-Contact Temperature Sensors
2) By Output: Digital, Analog
3) By Connectivity: Wired, Wireless
4) By End-User: Manufacturing Industry, Aerospace Industry, Energy Sector, Electronics Industry, HVAC Industry, Other End-Users
The growing technological advancements are shaping the temperature sensor market. Key players operating in the temperature sensor market are focusing on developing advanced technological temperature sensor devices to strengthen their position in the market. For instance, in July 2022, Apple, a US-based technology company, introduced temperature sensors in its Apple Watch Series 8 and Apple Watch Ultra models. These watches feature two temperature sensors: one on the back crystal near the skin and another just under the display. The sensors are designed to measure wrist temperature while the user is asleep, taking readings every five seconds. The temperature data is then saved in the Health app, where users can view their nighttime baseline shifts in body temperatures.
The temperature sensor market report table of contents includes:
1. Executive Summary
2. Temperature Sensor Market Characteristics
3. Temperature Sensor Market Trends And Strategies
4. Temperature Sensor Market – Macro Economic Scenario
5. Global Temperature Sensor Market Size and Growth
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31. Global Temperature Sensor Market Competitive Benchmarking
32. Global Temperature Sensor Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Temperature Sensor Market
34. Temperature Sensor Market Future Outlook and Potential Analysis
35. Appendix
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