New Computer Technology research report from Markets and Markets is now available from Fast Market Research
Williamstown, MA -- (SBWIRE) -- 03/12/2012 -- Temperature sensors are expected to witness tremendous growth as they are widely used across different application segments. Currently, the market is dominated by contact type sensors like thermocouples and RTDs but we predict strong competition between contact and noncontact temperature sensing technologies in future. Noncontact temperature sensors are dominated by IR temperature sensors and increasingly used for use in high-temperature applications. IR sensing is highly recommended in the food and beverage industry, plastic industry, metal industry, etc.
Due to improved sensitivity, temperature sensors are used for loads of applications such as petrochemicals, automotive segments, consumer electronics, computer peripherals, space applications, and industrial segment. There is rise in demand for consumer electronic devices, which uses microprocessors such as smart phones, media players, cameras and gaming devices that use temperature sensors ICs to a greater extent. Acceptance of non contact temperature in many application segments will add on to the consumption of temperature sensors in future. Safety related mandates in regions like North America and Europe are acting as a driver to the growth of temperature sensors.
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Technological advancement is opening new doors to the temperature sensors with regards to aerospace & defense application. They are holding very small market share but bright future is expected. Temperature sensor ICs and IR sensors are expected to play a lead role in the overall sensors market in the future. Sensors like RTD and certain thermocouples used for industrial and process applications are costlier than sensors that are used in the consumer and automotive segment. This allows technologies like IR to evolve in terms of technology and provide cost effective solution.
The market size of temperature sensors in the year 2010 was $3.27 billion and is expected to reach $4.51 billion units by 2016, at an estimated CAGR of 5.6%. In terms of volume, the unit shipment for temperature sensors was 2.02 billion units in the year 2010 and is expected to reach 3.54 billion units by 2016, at an estimated CAGR of 10%from 2011 to 2016.
Temperature sensor market is triggered due to a lot of factors. For the temperature sensor market, vehicle production in emerging markets, increasing government intervention, availability of strong aftermarket, and continuous demand from consumer electronics and computing peripherals are acting as drivers. Competition within the technologies, pricing, and maturity of critical end-user segments are acting as restraints. Technological advancement and emergence of MEMS in temperature sensing are the future opportunities for temperature sensors.
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