The temperature sensor global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Temperature Sensor Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size —
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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Scope Of Temperature Sensor Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Temperature Sensor Market Overview
Market Drivers –
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.
Market Trends —
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 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
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Regional Insights —
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.
Key Companies —
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
Table of Contents
1. Executive Summary
2. Temperature Sensor Market Report Structure
3. Temperature Sensor Market Trends And Strategies
4. Temperature Sensor Market — Macro Economic Scenario
5. Temperature Sensor Market Size And Growth
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27. Temperature Sensor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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