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Global Temperature Sensor Market Is Projected to Be Worth US $8.7 Bn During 2016-2024


Albany, NY -- (SBWIRE) -- 12/11/2017 -- Temperature sensors refer to devices which helps in recording data related to temperature. A temperature sensor helps in converting any voltage or current into a specific numerical value. Advanced temperature sensors are also used in research and development facilities with various scientific uses. The contact and non-contact temperature sensors form the different types of temperature sensors. These contact temperature sensors have been used in different industry verticals owing to the low cost. These sensors are used when the thermal equilibrium needs to be maintained and there is no flow of heat between the objects where the sensor needs to be in contact with the object to measure the temperature. The non-contact temperature sensor helps in measuring temperature when the surface is moving and measures temperature with the help of heat radiation emitted from the surface or object.

Temperature sensors have different product types, such as thermistors, thermocouple, infrared temperature sensor, fiber optic temperature sensor and bimetallic temperature sensors among others. These different type of temperature sensors include both simple and complex applications. Growth in automation, across verticals such as aerospace and defense, automotive, semiconductor and electronics and healthcare among others, has been some of the primary reason for the growth of temperature sensor market globally. The increasing importance for advanced healthcare equipment has also been boosting the growth of temperature sensor market.

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Other than this, the rise in demand for electronic products has also helped the global temperature sensor market to grow. Increasing use of thermistors, resistance temperature detectors, and infrared temperature detectors has also led to the rise in demand for automotive and healthcare sector enhancing the growth of these industries. Considering the positive impacts of the factors mentioned above, the temperature sensor market globally has been anticipated to grow at a good pace during the forecast period with the market being more or less stable. The growing demand for body worn temperature sensor also provides many opportunities for the growth of temperature sensor market.

On the basis of type, the global temperature sensor market has been segmented into thermistor, resistance temperature detectors, thermocouple, infrared temperature sensor, fiber optic temperature sensor, bimetallic temperature sensor and others. The global temperature sensor market is further segmented on the basis of sensing method which includes contact and non-contact temperature sensor. The market revenue for temperature senor has been provided in USD million in terms of revenue and million units in terms of volume, along with the CAGR for the forecasted period from 2016 to 2024.

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The key trends analysis and market opportunity map provided in the report discusses the various upcoming trends and current end use industries. Other than this, the scope of the report also focuses on the future penetration of various temperature sensor related products. The market opportunity map and market attractiveness analysis included in this report provides overall insights into various market dynamics, industry competition, along with providing the most profitable segments within the global temperature sensor market. Additionally, the Porter's five forces analysis aids in better understanding of the level of competition present in the market. Top players of the global temperature sensor market are also being profiled and included in the report.

The report also provides breakdown and assessment of various factors impacting the growth of market, which are classified as market drivers, restraints, and opportunities in this report. These factors determine the different trends and their impact on the overall market growth. Overall, after taking into consideration the different factors which affects the global temperature sensor market along with providing a holistic analysis of the global temperature sensor market, and also provides an estimation of growth for the forecast period during 2016 to 2024.

Companies mentioned in the report

Some of the leading players in the global temperature sensor market are Texas Instruments Inc. (U.S.), Analog Devices Inc. (U.S.), Microchip Technology Inc. , Honeywell International Inc. (US), STMicroelectronics N.V. (Switzerland), Infineon Technologies AG (Germany), General Electric Company (U.S.), ABB Ltd. (Switzerland), Maxim Integrated Products Inc. (U.S.), ON Semiconductor (U.S.) and Panasonic Corporation (Japan) among others.

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