Temperature Sensors: Global Markets to 2023

LONDON, June 4, 2018 /PRNewswire/ -- Report Scope

The research study includes market information on temperature sensor and its key segments including type, application and regions.

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Usage of temperature sensor for different applications is the core market segment in the report and covers HVAC (heating, ventilation and air conditioning) applications, medical applications, industrial process control and monitoring applications, automotive applications and others. Other applications include the building sector, agricultural applications, perishable smart temperature tracking and temperature sensing in food and beverages industry.

The temperature sensor market is also segmented on the basis of different types such as thermocouples, RTD (resistance temperature detectors), thermistors, infrared (IR), optical and others.The regional analysis of the market includes North America, Europe, the Asia-Pacific region, Middle East and Africa and South America.

Revenue forecasts from 2018 to 2023 are given for all the above-mentioned segments in the temperature sensor market.

The report also includes a discussion of the major manufacturers across each regional market.Further, it explains the major drivers and dynamics of the market and current trends within the industry.

The report concludes with a special focus on the vendor landscape and includes detailed profiles of the major vendors in the global temperature sensor market.

Report Includes

- 41 data tables
- An overview and industry analysis of the global market for temperature sensors within the industry
- Analyses of global market trends, with data from 2017, estimates for 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Characterization and quantification of market potential for temperature sensors by type, application areas and geographical regions
- An assessment of market dynamics and identification of growth driving factors and recent innovations that affect the temperature sensor market
- Discussion of the major manufacturers across each regional market
- Emphasis on the vendor landscape and includes detailed profiles of the major vendors in the global temperature sensor market, including Ametek, Amphenol Corp., Badger Meter, Inc., Delphi Technologies, Honeywell International and Panasonic Corp.

Summary

Temperature sensors are one of the prime sensing instruments in the sensor market and considered one of the fastest growing instrument types which measure thermal change in industrial applications such as HVAC, process control and automotive.Temperature sensors have become smarter with the introduction of microcontrollers and remote two-way communication enabling self-diagnosis and other smart functions.

The growing demand for mass temperature meters is advancing steadily, as is the demand for temperature meters which work in harsh environments.

The expansion of the temperature sensor market is driven by growth in industrial and home automation technology, increasing demand for automated vehicle functions in the automotive sector and a surge in sensor adoption in multiple industries.Additionally, advancements in the Internet of Things (IoT) is expected to boost market growth in coming years.

However, factors such as high competition, sensor pricing and difficulty in sensor-to-sensor communication techniques are some of the major hurdles expected for the temperature sensor market.

The global market for temperature sensors has been segmented based on type, application and geography.Based on type, the market has been classified into thermocouple, RTD, thermistor, infrared (IR), optical and others.

By application the market is categorized into HVAC, medical, industrial process control and monitoring, automotive and some others.Based on geography, the market has been segmented into North America, Europe, the Asia-Pacific region, Middle East and Africa (MEA) and South America.

In terms of growth, the Asia-Pacific region is expected to expand at a healthy rate due to greater demand from emerging economies such as China, South Korea and India. Industrial
advancements in these countries is anticipated to provide ample space for market development.

The global temperature sensor market was REDACTED in 2017 and is expected to reach REDACTED by 2023, growing at a CAGR of REDACTED from 2018 to 2023.North America accounts for the largest market share of the global temperature sensor market, followed by Europe and the Asia-Pacific region.

Key market participants include Honeywell International, Murata Manufacturing Co, Johnson Controls International, AVX, Texas Instruments, United Electric Controls and others. Key players in the market have adopted several business development strategies such as new product launches, product upgrades, partnerships and others to penetrate the global market.

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