Temperature Sensor Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
A temperature sensor is an electronic device that records, monitors, or signals temperature changes by measuring the temperature of its surroundings and converting the input data into electronic data. Temperature sensors are used to take accurate temperature measurement readings.

Sizing and Forecast
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.

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Segmentation & Regional Insights
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

Asia-Pacific was the largest region in the temperature sensor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the temperature sensor market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
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.

Key Industry Players
Major companies operating in the temperature sensor market include Siemens AG, NXP semiconductors N.V., Infineon Technologies AG, Texas Instruments Incorporated, Denso Corporation, Tyco Electronics Ltd Connectivity, Omron Corporation, Sensor Scientific Inc., Chicago Telephone Supply Corporation., WIKA Instruments India Pvt. Ltd., Keyence Corporation, Dwyer Instruments Ltd., Standex Electronics Inc., Thermocouple Technology LLC, Kelvin Technologies Inc., Thermo Sensors Corporation, Honeywell International Inc., Endress+Hauser Management AG, Maxim Integrated, Emerson Electric Co., Asea Brown Boveri, Kongsberg, Société de Techniques Microélectroniques, Amphenol Advanced Sensors, Sensata Technologies India Pvt. Ltd., Microchip Technology Inc., Omega Engineering Inc., Panasonic Corporation, Fluke Corporation, Danfoss A/S, Tokyo Denki Kagaku Kogyo Kabushiki-gaisha Corporation, Murata Manufacturing Co. Ltd., Vishay Intertechnology Inc., ON Semiconductor Corporation, Analog Devices Inc., Sensirion AG, Melexis NV, Elektronik Gesellschaft mit beschränkter Haftung, Heraeus Holding GmbH, Micro-Epsilon

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

Top Major Players: