Temperature Sensor Market Size, Share, Growth Report 2032

Temperature Sensor Market Insights

According to Zion Market Research, the global Temperature Sensor Market was worth USD 7.68 Billion in 2023. The market is forecast to reach USD 13.60 Billion by 2032, growing at a compound annual growth rate (CAGR) of 5.9% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Temperature Sensor Market industry over the next decade.

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Market Overview     

The global Temperature Sensor market accounted for USD 5.8 Billion in 2020 and is expected to reach USD 7.7 Billion by 2028, growing at a CAGR of around 3.6% between 2021 and 2028.      

A temperature Sensor is nothing but a tool typically an RTD or thermocouple provides for temperature measurement through an electrical signal. Temperature sensor plays an important role in various applications like food processing, medical devices, HVAC environmental control, chemical handling and automotive under the hood monitoring. Mounting significance of advanced & portable healthcare devices and high-performing sensor devices will propel the expansion of the temperature sensor market within the years ahead. Fierce competition and saturation witnessed across the Pc sector, however, is foreseen to hinder the expansion propensity of the temperature sensor market within the near future. Nevertheless, massive product applications across oil & gas, food & beverages, aerospace & defense, and chemicals sectors will further leverage the expansion graph of the temperature sensors market within the coming years.

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COVID-19 Impact Analysis  

In the era of a COVID-19 pandemic, when a high temperature could be a sign of being ill with COVID-19, it could be a helpful smartphone feature to have. Temperature Sensors are employing IoT connectivity to hurry COVID-19 screening. Polysense Technologies and Semtech have joined forces to develop a series of physical body temperature monitoring devices that supported Semtech’s LoRa LPWAN. The sensors offer real-time data to frontline healthcare workers and quickly screen individuals with heat, one of the foremost common symptoms of COVID-19.

Growth Factors

The major growth drivers that impact the temperature sensors market are new technological advancements in the petrochemical industry. The growing huge demand for medical sensors owing to the rise within the number of diseases boosts the expansion of the thermistor sort of temperature sensor. Another foremost driver for temperature sensors in consumer electronics is that the substantial growth of tablets and mobile phones owing to research and development's immense innovations.

Temperature Sensor Market: Report Scope

Segment Analysis Preview  

The main products available in this temperature sensor market are Thermocouple, Thermistor, Temperature Sensor, Resistive Temperature Detector, Bimetallic Temperature Sensor, Infrared Temperature Sensor, and Fiber Optic Temperature Sensor. Among them, the demand for Thermocouple is relatively higher and the trend is anticipated to remain so over the next few years.

Based on application, the chemicals end-user industry segment is projected to hold the largest share in the temperature sensor industry during the forecast period. Temperature sensors play an important role in the chemicals end-user industry. Processes such as refining, heat tracing, cracking, and incineration, and systems such as sanitary systems and piping systems use temperature sensors for temperature monitoring and control.

Regional Analysis Preview  

Regionally, North America has been leading the worldwide temperature sensor market and is anticipated to continue on the dominant position within the years to return. Favorable state guidelines to market the expansion of medical & healthcare sectors are the most factor behind the dominance of the North American temperature sensor market. For the record, in 2018, North America contributed quite 40% towards the general temperature sensor market share 2018.

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Key Market Players & Competitive Landscape

The key players of temperature sensor market include ABB Ltd., General Electric Co., Panasonic Corp., ON Semiconductor, NXP Semiconductors N.V., Maxim Integrated Products Inc., Infineon Technologies AG, STMicroelectronics N.V., Honeywell International Inc., Microchip Technology Inc., Analog Devices Inc., Kongsberg Gruppen, Siemens and Texas Instruments Inc.

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The global Temperature Sensor Market is segmented as follows:

By Product

• Thermistor
• Thermocouple
• Infrared Temperature Sensor
• Fiber Optic Temperature Sensor
• Resistive Temperature Detector
• Bimetallic Temperature Sensor
• Others

By End-User

• Food and Beverage
• Aerospace and Defense
• Chemicals
• Oil & Gas
• Consumer electronics
• Automotive
• Healthcare
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa