CHICAGO, Jan. 11, 2024 /PRNewswire/ — The Temperature Sensor Market is projected to grow from USD 7.4 billion in 2024 to USD 9.7 billion by 2029, registering a CAGR of 5.6% during the forecast period according to a new report by MarketsandMarkets™. The market growth is attributed to the increasing adoption of Industry 4.0 and the deployment of temperature sensors in space applications. Furthermore, the rising inclusion of temperature control systems in food safety management is expected to create lucrative opportunities for the market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=522
Browse in-depth TOC on “Temperature Sensor Market” 161 – Tables58 – Figures233 – Pages
Temperature Sensor Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 7.4 billion
Estimated Value by 2029
$ 9.7 billion
Growth Rate
Poised to grow at a CAGR of 5.6%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Product Type, Output, Connectivity, End-user Industry and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Stringent performance requirements for advanced applications
Key Market Opportunities
Increasing trend of wearable devices
Key Market Drivers
Increasing adoption of Industry 4.0 and IoT
The digital temperature sensor segment is expected to account for the largest share of the temperature sensor market in 2024.
The digital segment is a significant market for temperature sensors. Temperature sensors with digital output have several advantages over sensors with analog output and are mostly suited for remote applications. These sensors offer advantages in terms of range-bound alert signaling, and the setpoints can be stored in non-volatile memory. Digital temperature sensors find application in medical and aerospace industry verticals, test and measurement equipment, and industrial automation. TE Connectivity (Switzerland), Texas Instruments (US), and NXP Semiconductors (Netherlands) are some of the major players providing digital temperature sensors.
Consumer Electronics segment is expected to account for the largest share of the temperature sensor market in 2024.
The consumer electronics segment accounted for the largest share of the temperature sensor market in 2024, and a similar trend is expected to be witnessed during the forecast period. With the increasing technological advancements, consumer electronic products such as PCs, laptops, game consoles, DVD players, printers, hard disk drives, cameras, washing machines, and refrigerators are becoming compact as well as power- and cost-efficient. With the introduction of new and innovative technologies in the consumer electronics industry, there is a huge opportunity for innovative and power-efficient temperature sensors. The introduction of new technologies is expected to propel the growth of the temperature sensor market for electrical and electronic applications.
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The Asia Pacific market is expected to witness the highest CAGR in the temperature sensor market during the forecast period.
Asia Pacific is projected to record the highest CAGR during the forecast period. China, India, South Korea, and Japan are the major contributors to the growth of the temperature sensor industry in Asia Pacific. Fast-track industrialization across the APAC region has created a conducive environment for the growth of the temperature sensor market. Expanding automobile and industrial manufacturing, in particular, is generating massive demand for temperature sensors. Continuous demand for cost-effective and highly efficient temperature sensors from chemicals, oil & gas, consumer electronics, energy & power, healthcare, automotive, and metals & mining industries is expected to drive the growth of the temperature sensor market in this region.
Key players
Key players in the temperature sensor companies include Honeywell International Inc. (US), TE Connectivity (Switzerland), Texas Instruments Incorporated (US), Endress+Hauser Group Services AG (Switzerland), Siemens (Germany), Emerson Electric Co. (US), Analog Devices (US), Amphenol Corporation (US), WIKA Alexander Wiegand SE & Co. KG (Germany), and Microchip Technology Inc. (US) among others.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=522
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
IoT Sensors Market by Sensor Type, Network Technology, Vertical, Application, and Geography – Global Forecast – 2026
Industrial Sensors Market by Sensor Type (Level Sensor, Temperature Sensor, Gas Sensor, Pressure Sensor, Position Sensor, and Humidity & Moisture Sensor), Type (Contact & non-contact sensors), End-User Industry and Region – Global Forecast to 2029
Distributed Temperature Sensing Market by Operating Principle (OTDR, OFDR), Fiber Type (Single-mode Fibers, Multimode Fibers), Scattering Method (Rayleigh Effect, Raman Effect, Brillouin Effect), Application, and Geography – Global Forecast to 2025
Smart Sensors Market by Type (Temperature & Humidity Sensors, Pressure Sensor, Touch Sensor, Motion & Occupancy Sensors, Water Sensor, Image Sensor), Technology, End-user Industry and Region – 2027
Pressure Sensor Market by Sensor Type (Wired, Wireless), Technology (Piezoresistive, Capacitive, Optical), Product (Absolute, Gauge, Differential), End Use, Vertical, and Geography 2026
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Aashish MehraMarketsandMarkets™ INC. 630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: sales@marketsandmarkets.comVisit Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/temperature-sensor-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/temperature-sensor.asp
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View original content:https://www.prnewswire.co.uk/news-releases/temperature-sensor-market-worth-9-7-billion-by-2029—exclusive-report-by-marketsandmarkets-302032336.html
CHICAGO, Jan. 11, 2024 /PRNewswire/ — The Temperature Sensor Market is projected to grow from USD 7.4 billion in 2024 to USD 9.7 billion by 2029, registering a CAGR of 5.6% during the forecast period according to a new report by MarketsandMarkets™. The market growth is attributed to the increasing adoption of Industry 4.0 and the deployment of temperature sensors in space applications. Furthermore, the rising inclusion of temperature control systems in food safety management is expected to create lucrative opportunities for the market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=522
Browse in-depth TOC on “Temperature Sensor Market”
161 – Tables
58 – Figures
233 – Pages
Temperature Sensor Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 7.4 billion
Estimated Value by 2029
$ 9.7 billion
Growth Rate
Poised to grow at a CAGR of 5.6%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Product Type, Output, Connectivity, End-user Industry and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Stringent performance requirements for advanced applications
Key Market Opportunities
Increasing trend of wearable devices
Key Market Drivers
Increasing adoption of Industry 4.0 and IoT
The digital temperature sensor segment is expected to account for the largest share of the temperature sensor market in 2024.
The digital segment is a significant market for temperature sensors. Temperature sensors with digital output have several advantages over sensors with analog output and are mostly suited for remote applications. These sensors offer advantages in terms of range-bound alert signaling, and the setpoints can be stored in non-volatile memory. Digital temperature sensors find application in medical and aerospace industry verticals, test and measurement equipment, and industrial automation. TE Connectivity (Switzerland), Texas Instruments (US), and NXP Semiconductors (Netherlands) are some of the major players providing digital temperature sensors.
Consumer Electronics segment is expected to account for the largest share of the temperature sensor market in 2024.
The consumer electronics segment accounted for the largest share of the temperature sensor market in 2024, and a similar trend is expected to be witnessed during the forecast period. With the increasing technological advancements, consumer electronic products such as PCs, laptops, game consoles, DVD players, printers, hard disk drives, cameras, washing machines, and refrigerators are becoming compact as well as power- and cost-efficient. With the introduction of new and innovative technologies in the consumer electronics industry, there is a huge opportunity for innovative and power-efficient temperature sensors. The introduction of new technologies is expected to propel the growth of the temperature sensor market for electrical and electronic applications.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=522
The Asia Pacific market is expected to witness the highest CAGR in the temperature sensor market during the forecast period.
Asia Pacific is projected to record the highest CAGR during the forecast period. China, India, South Korea, and Japan are the major contributors to the growth of the temperature sensor industry in Asia Pacific. Fast-track industrialization across the APAC region has created a conducive environment for the growth of the temperature sensor market. Expanding automobile and industrial manufacturing, in particular, is generating massive demand for temperature sensors. Continuous demand for cost-effective and highly efficient temperature sensors from chemicals, oil & gas, consumer electronics, energy & power, healthcare, automotive, and metals & mining industries is expected to drive the growth of the temperature sensor market in this region.
Key players
Key players in the temperature sensor companies include Honeywell International Inc. (US), TE Connectivity (Switzerland), Texas Instruments Incorporated (US), Endress+Hauser Group Services AG (Switzerland), Siemens (Germany), Emerson Electric Co. (US), Analog Devices (US), Amphenol Corporation (US), WIKA Alexander Wiegand SE & Co. KG (Germany), and Microchip Technology Inc. (US) among others.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=522
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
IoT Sensors Market by Sensor Type, Network Technology, Vertical, Application, and Geography – Global Forecast – 2026
Industrial Sensors Market by Sensor Type (Level Sensor, Temperature Sensor, Gas Sensor, Pressure Sensor, Position Sensor, and Humidity & Moisture Sensor), Type (Contact & non-contact sensors), End-User Industry and Region – Global Forecast to 2029
Distributed Temperature Sensing Market by Operating Principle (OTDR, OFDR), Fiber Type (Single-mode Fibers, Multimode Fibers), Scattering Method (Rayleigh Effect, Raman Effect, Brillouin Effect), Application, and Geography – Global Forecast to 2025
Smart Sensors Market by Type (Temperature & Humidity Sensors, Pressure Sensor, Touch Sensor, Motion & Occupancy Sensors, Water Sensor, Image Sensor), Technology, End-user Industry and Region – 2027
Pressure Sensor Market by Sensor Type (Wired, Wireless), Technology (Piezoresistive, Capacitive, Optical), Product (Absolute, Gauge, Differential), End Use, Vertical, and Geography 2026
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/temperature-sensor-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/temperature-sensor.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/temperature-sensor-market-worth-9-7-billion-by-2029—exclusive-report-by-marketsandmarkets-302032336.html
