Market Highlights
The study reveals that temperature sensors is trending in North America region. The global temperature sensors market is expected to witness a high growth in the coming years. However, the temperature sensors has its applications including in Food industries, Petrochemical, oil and energy industries are deploying temperature for production and monitoring to maintain consistency and quality. Moreover, the increasing focus on workplace safety is driving the deployment of temperature sensors for work floor monitoring. Consumer electronics are also expected to drive the demand for temperature sensors. Intense competition in the consumer electronics industry is pushing OEMs to offer new features in devices, are driving the growth temperature sensors.
The study indicates that the spiraling demand for environment-friendly and low cost temperature sensors is creating a large scope for small players to venture into the market. However, in 2016, the top six players commanded less than 20% of the global Temperature Sensors Market. Among these, Texas Instruments Inc., Honeywell International Inc., and General Electric Company were the top three players in the same year. These players are aiming at improving research and development facilities along with continuous innovation to introduce sensors that are in line with the changing requirements of end-use industries.
The global temperature sensors market is skyrocketing at a faster rate over the last couple of years and will rise to a greater extent in the upcoming years. The temperature sensors market valuation by the year 2023 is anticipated to reach approximately USD 5.93 billion along with a CAGR of 4.8 percent between the forecast periods from 2017 to 2023.
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Segmental Analysis
The temperature sensors market has been segmented by product types, alloys used, applications, end -users and region. By product type, the market is divided into thermocouples, bimetallic temperature sensors, infrared temperature sensors, thermistors, fiber optic temperature sensors, non-contact sensors, temperature sensor ICs, resistive temperature detectors, and others. By alloy type, the market is segmented into Type K, Type M, Type E, Type J, Type C, Type N, Type T, and others. Temperature sensors market is segmented by applications, into power industry, energy & power, chemicals and petrochemical, oil & gas, automotive, advanced fuels, metals, food & beverages, and others. By regions, it is segmented into North America, Europe, APAC, and rest of the world.
Key Players:
The prominent players in the Temperature sensors Market are – Siemens A G (Germany), Stmicroelectronics N.V. (Switzerland), TE Connectivity (Switzerland), Ultra Electronics Holdings Plc. (U.K), UTC Aerospace Systems (U.S), Analog Devices Inc. (Us), Texas Instruments Inc. (Us), Maxim Integrated Products Inc. (Us), Honeywell International Inc. (U.S), ABB Limited (Switzerland), Emerson Electric Corporation (Us) among others.
Regional Analysis
North America Leads The Global Temperature Sensors Market With Largest Market Share, APAC Emerges As The Fastest Growing Market Owing to The Massive Rise In Demand.
The North America region is dominating the global temperature sensor market and is accounted for a significant market share of close to 40%. Europe market has shown a steady rise, owing to substantial temperature sensors manufacturing companies based there. This region is expected to grow more in the forecast period. The Asia Pacific has emerged as the fastest growing region for temperature sensors market due to increasing demand for high-performance sensors. China and India have been significant regions in the temperature sensors market in the forecast period.
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Intended Audience
- Raw material providers
- Professional service/solution providers
- Research organizations and consulting companies
- Temperature sensor-related associations
- Temperature sensors manufacturers
- Component suppliers
- Semiconductor product designers and fabricators
- Research institutes and organizations
- Technology standards organizations
- Technology investors
- Research institutes,
- System Integrators
- Research/Consultancy firms
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