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Temperature Sensor Market Estimation, Dynamics, Trends, Competitor Analysis and Forecast 2028

The Temperature Sensor Market is expected to grow from USD 5.9 billion in 2021 to USD 8.0 billion by 2028, at a CAGR of 4.5%.


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Avinash Gogawale

15 days ago | 3 min read

The Temperature Sensor Market Report Share is estimated to be USD 5.9 billion in 2021 and expected to reach USD 8.0 billion by 2028, at a CAGR of 4.5% from 2021 to 2026.

Manufacturers are adopting sensing technology before the robots are installed to ensure compliance and create a safe environment for workers leading to higher demand for temperature sensors.However, high initial cost involved with the implementation of advanced sensorsis expected to restraint market growth.

Increasing penetration of temperature sensors in advanced & portable healthcare equipment

The growing demand for advanced and portable healthcare equipment is driving the Temperature Sensor Market. With the onset of technologies like advanced patient monitoring systems and portable health monitoring systems, the demand for temperature sensors is on the rise. Factors such as the rising geriatric population, deteriorating lifestyle, and growing viral infections are expected to further increase the demand for portable healthcare devices.

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Key Market Players         

  • Honeywell International Inc. (US),
  • TE Connectivity Ltd. (Switzerland),
  • Texas Instruments Incorporated (US),
  • Endress+Hauser Management AG (Switzerland),
  • Siemens AG (Germany),
  • Maxim Integrated (US),
  • Emerson (US),
  • ABB (Switzerland),
  • NXP (US), and
  • Kongsberg (Norway).

Increasing trend of wearable devices

Wearable devices are used for tracking several biometric parameters, such as heartbeat and body temperature. The adoption of wearable devices is increasing rapidly with a growing number of end-users seeking such technologies to improve their fitness and overall health. Currently, 1 in 6 people own and use a wearable device, and this adoption trend is expected to grow in the coming years. This rising demand and growing health consciousness among individuals are expected to create growth opportunities for the players in the Temperature Sensor Market.

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Oil and gas industryholds the second largest share in the Temperature Sensor Market

The oil and gas segment is projected to register a CAGR of 3.7% during the forecast period. Oil and gas industry is heavily reliant on different sensors to measure, analyse record and share the different parameters for safety and proper functioning of the equipment and workers. Temperature monitoring sensors are one of the key sensors implemented by this industry. These sensors are used to measure, andanalysetempearutres of various equipment and environment. It is expected that the implementation of temperature sensors in the oil and gas industry will continue to grow over the forecast period allowing the industry to hold a prominent position in the Temperature Sensor Market.

Geographical Revenue for Regions Around the World

The market has been segmented based on type, end user, and region. Based on type, the market is divided into contact sensor and non-contact sensor. Contact sensor is further classified into air temperature sensor and water temperature sensor. Non-contact sensor includes infrared temperature sensor and laser beam temperature sensor. End users include industrial and commercial organizations such as manufacturers, distributors, and retail customers. Region includes North America, Europe, Asia Pacific, and Rest of the World.

The temperature sensors are used for various purposes such as controlling machinery or vehicles in different locations. They work by measuring the surrounding environment using one or more sensors then sending this data to a controller where it can be used to control various actuators or devices located near the sensors.

News Covered:

https://www.prnewswire.com/news-releases/temperature-sensor-market-worth-8-0-billion-by-2028---exclusive-report-by-marketsandmarkets-301383738.html 

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