Selbyville, Delaware According to the recent research report titled ‘Temperature Sensor Market Size By Product, By Output, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global temperature sensor market is projected to record considerable growth during 2020-2026.
Growing adoption of portable and advance healthcare equipment, rising integration of home & building automation systems in developing economies, and surging usage of temperature sensors in industrial automation are the key growth drivers of global temperature sensor market. Additionally, implementation of temperature control systems in food safety management and deployment of temperature sensors in space applications will also propel the market growth.
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Based on product type, global temperature sensor market is divided into non-contact and contact. The contact segment includes resistive temperature detectors, thermistors, bimetallic temperature sensor, temperature sensor ICs, and thermocouple.
The thermocouple segment held 25% market share in 2019 owing to its usage in industrial processes and diesel engine. Notably, thermocouple is made from two dissimilar metal wires which are adjoined. This joint is referred as HOT junction and other end is COLD junction. The wire is then connected to an electronic measurement device. If there is difference in temperature between cold and hot junctions, then a small voltage is generated. This voltage is known as EMF or electro-motive force and can be utilized to specify temperature.
Speaking of application spectrum, the industry is bifurcated into oil & gas, automotive, consumer electronics, chemical, healthcare, and others. The healthcare segment is projected to record a CAGR of 6% over the study period. This growth is credited to surging demand for IR temperature sensors in the healthcare monitoring systems. Usage of technologically advanced temperature sensors to reduce health-related mortality rates is boosting the product adoption in healthcare segment.
From a regional perspective, Middle East & Africa (MEA) temperature sensor market is anticipated to expand with a CAGR of 4% over the analysis period. This regional growth is due to flourishing oil & gas sector.
Leading organizations in global temperature sensor market are Vishay Company, Torex Semiconductor Ltd., Texas Instruments Incorporated, TE Connectivity, STMicroelectronics, Siemens, Sensirion AG Switzerland, Sensata Technologies Inc., ROHM Co. Ltd., Pyromation Inc., ON Semiconductor (Semiconductor Components Industries LLC), OMEGA Engineering, NXP Semiconductors, Murata Manufacturing Co. Ltd., Microchip Technology Inc., Maxim Integrated, Littelfuse Inc., Kongsberg Maritime, ifm electronic GmbH, Honeywell International Inc., Hans Turck GmbH & Co. KG, Emerson Electric Co., Dwyer Instruments Inc., Analog Devices Inc., ams AG, Amphenol Advanced Sensors, and ABLIC Inc.
Question and Answer: Global Temperature Sensor Market
Q1) What are the factors driving the growth of global temperature sensor market?
Answer: Growing adoption of portable and advance healthcare equipment, rising integration of home & building automation systems in developing economies, and surging usage of temperature sensors in industrial automation are the key growth drivers of global temperature sensor market.
Q2) How does MEA region contribute to global temperature sensor market revenue?
Answer: Growth in oil & gas sector in the region augments the expansion of Middle East & Africa temperature sensor industry.
Q3) Which are the leading organizations in global temperature sensor market revenue?
Answer: Leading organizations in global temperature sensor market are Vishay Company, Torex Semiconductor Ltd., Texas Instruments Incorporated, TE Connectivity, STMicroelectronics, Siemens, Sensirion AG Switzerland, Sensata Technologies Inc., and ROHM Co. Ltd. among others.
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