Global Temperature Sensor market research 2024, Forecast To 2033

The temperature sensor market has demonstrated robust growth, increasing from $8.94 billion in 2023 to $9.64 billion in 2024 at a solid compound annual growth rate (CAGR) of 7.9%. The growth in the historic period is attributed to the expanding applications in industrial automation, consumer electronics, initiatives promoting energy efficiency, healthcare needs, and adherence to food safety regulations. Looking ahead, the temperature sensor market is poised for strong growth, projected to reach $13.55 billion in 2028 at an impressive CAGR of 8.9%. The anticipated growth in the forecast period can be attributed to the rising demand for environmental monitoring, the increasing use of temperature sensors in healthcare wearables, applications in agriculture and precision farming, the expanding role in cold storage and logistics, and the growing importance in data center cooling. Major trends in the forecast period encompass the miniaturization and integration of temperature sensors with the Internet of Things (IoT), the development of non-contact temperature sensing, the adoption of wireless temperature monitoring, the continued growth in industrial automation, and advancements in high-precision sensors.