Temperature Sensors Market worth over $9bn by 2026

Temperature Sensors Market size is set to surpass USD 9 billion by 2026, according to a new research report by Global Market Insights, Inc.
 

Several government regulations for the safety of factory workers and to minimize fatalities at workplaces are creating lucrative growth opportunities for the market. Demand for advanced safety systems in industrial applications for asset monitoring, predictive maintenance, and security is further boosting the temperature sensors market revenue. Additionally, rising demand for temperature measurement for inspection and quality control will add an advantage to the market growth. Companies are launching new technological innovations to enhance their market position.

 

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Growing adoption of heating ventilation and air conditioning systems in home & building automation will create a lucrative growth for the market. The Middle East countries including Saudi Arabia, Abu Dhabi, and Dubai have started investing in smart buildings and smart homes for safety, security energy efficiency, and convenience. Growing disposable incomes in the region and improvements in infrastructure are propelling the market penetration.
 

The adoption of smart grids, appliance control systems, and lighting control systems will fuel the temperature sensors market demand in home automation. Companies are also investing to advance the functionalities of temperature sensor and meet the growing market demand.
 

Asia Pacific Temperature Sensor Market

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Growing adoption of safety regulations will propel the demand for temperature sensors in the chemical sector

In the chemical sector, industrial equipment and devices have operations in potentially explosive & hazardous sites, requiring constant asset monitoring. Temperature sensors are finding applications in the chemical sector for security and safety of the chemical plant. The intrinsic safety devices, which are mounted with sensors are used in chemical plants to ensure that there is no combustion or spark. These sensors can provide real-time data of these safety devices to eliminate accidents.
 

Temperature acts as an essential parameter in the chemical industry to ensure product quality and repeatability of chemical composition. Temperature sensing have emerged as a viable solution in the chemical market to achieve accuracy & reliability in the chemical process. Growing adoption of temperature sensing in process sensing to obtain high quality in the chemical production will add opportunities in the sector. Therefore, market players are heavily investing in new product developments in the industry for process sensing, to enhance their position.
 

Browse key industry insights spread across 250 pages with 375 market data tables and 34 figures & charts from the report, “Temperature Sensors Market Size By Product (Contact {Temperature Sensors ICs, Resistive Temperature Detectors, Thermistors, Thermocouples, Bimetallic Temperature Sensors}, Non-Contact {Infrared, Fiber-Optics}), By Output (Analog, Digital {Single-Channel, Multi-Channel}), By Application (Chemical, Oil & Gas, Consumer Electronics, Healthcare, Automotive), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/temperature-sensor-market
 

Surging demand for temperature measurement in food & beverages and oil & gas sectors to drive temperature sensors market growth

The contact type segment valued at over 6 billion in 2019 and will grow at 4% during the forecast period. Thermistors have a common application to measure the temperature of places where food is manufactured and processed. These sensors are also used in the pasteurization process for High-Temperature Short-Test (HTST) requirements. Thermocouples find several applications in the food & beverage market for fresh & frozen fish, meat, dough, poultry, & other food products. Contact type temperature sensors can analyze data in real-time, aiding the market growth.
 

The ubiquitous demand for remote monitoring and wireless connectivity in the oil & gas industry is one of the major factors contributing to the market. Oil & gas industries use remote monitoring systems to measure environmental factors and equipment conditions at remote sites.
 

Deployment of temperature sensor in wearable devices to project a lucrative growth in North America

The North America temperature sensors market is estimated to register exponentials growth from 2020 to 2026 led by flourishing wearable device penetration in the region. In 2018, the wearable medical device sector crossed USD 9 billion and is anticipated to expand at 39.4% CAGR until 2025. The U.S. market accounted for 32% share in 2018, and companies in the region are focusing on bringing new technologies to the sector.
 

For instance, Blue Spark Technologies launched a wearable temperature measuring patch, TempTraq that helps in the continuous measurement of a patient’s body temperature. Advanced sensors used in medical wearable devices, such as Fitbit and smartwatches, are designed to collect patient data for medical diagnosis. Players, such as GoNoise, are focusing on providing built-in sensors for smartwatches, amid growing cases of viral and infectious diseases.
 

Microchip Technology, Inc., ams AG, Emerson, TE Connectivity, Rockwell Automation, Inc., Amphenol Corporation, OMEGA Engineering, Inc., Analog Devices, Inc., Renesas Electronics Corporation, Texas Instruments Incorporated, Honeywell International, Inc., Integrated Device Technology, Inc., NXP Semiconductors N.V., and STMicroelectronics N.V are some of the major companies operating in the temperature sensors market. The industry players are continuously focusing on research & development activities to provide emerging solutions for efficient thermal management and Micro Electromechanical Systems (MEMS) technology.
 

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