What is the Historical Analysis of the Temperature Sensor Market Size?
The temperature sensor market has seen considerable growth due to a variety of factors.
• The market size for temperature sensors has seen robust growth lately. The market is projected to escalate from $9.48 billion in 2024 to $10.15 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.1%.
The surge in the past period can be traced back to factors such as industrial automation, consumer electronics, initiatives for energy efficiency, healthcare demands, and regulations regarding food safety.
What is the Forecasted Growth of the Temperature Sensor Market Size?
The temperature sensor market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the size of the temperature sensor market is predicted to experience considerable growth. The market is set to expand to $14.56 billion by 2029, with a compound annual growth rate (CAGR) of 9.4%.
This growth during the forecast period is due to factors such as environmental monitoring, healthcare wearables, precision agriculture, cold storage and logistics, and data center cooling. Prominent trends during this forecast period are expected to include miniaturization and integration with the Internet of Things (IoT), non-contact temperature sensing, wireless temperature monitoring, industrial automation, and the use of high-precision sensors.
What Key Factors and Trends are Driving the Growth of the Temperature Sensor Market?
The expansion of the healthcare industry is playing a significant role in enhancing the growth of the temperature sensor market. With the growth in healthcare enterprises, there's a need for the utilization of temperature sensors to maintain the monitoring of critical temperature in a reliable and accurate manner. Such sensors are incorporated in numerous medical devices such as sleep apnea apparatus, digital thermometers, blood analysis equipment, anaesthetics delivery machines, and neonatal ICU to keep track of patients' temperature. Additionally, they are used in ventilating devices, medical incubation uvices, oxygen heater temperature trackers and regulators and kidney dialysis machines. In an example, the India Brand Equity Foundation (IBEF) reports forecasts the healthcare sector to potentially hit USD372 billion by 2022. Thus, it can be concluded that the expanding health sector will continue to propel the temperature sensor market growth in the forthcoming years.
What are the Market Segments in the Temperature Sensor Market?
The temperature sensor market covered in this report is segmented –
1) By Product Type: Contact Temperature Sensors, Non-Contact Temperature Sensors
2) By Output: Digital, Analog
3) By Connectivity: Wired, Wireless
4) By End-User: Manufacturing Industry, Aerospace Industry, Energy Sector, Electronics Industry, HVAC Industry, Other End-Users
Subsegments:
1) By Contact Temperature Sensors: Thermocouples, Resistance Temperature Detectors (RTDs), Thermistors, Bimetallic Temperature Sensors, Surface Temperature Sensors
2) By Non-Contact Temperature Sensors: Infrared Sensors, Thermal Imaging Cameras, Laser Temperature Sensors, Fiber Optic Temperature Sensors
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What Trends are Shaping the Temperature Sensor Market?
Advancements in technology are contributing significantly to the evolution of the temperature sensor market. Major companies in the temperature sensor market are concentrating their efforts on creating technologically superior temperature sensor devices to consolidate their market position. For example, in July 2022, the leading tech giant based in the US, Apple, integrated temperature sensors into their Apple Watch Series 8 and Apple Watch Ultra models. The timepieces house two temperature sensors: one located on the back crystal adjacent to the skin and another slightly beneath the display. These sensors are engineered to monitor wrist temperature while the wearer is sleeping, capturing readings at five-second intervals. This temperature information is then stored in the Health application, where individuals can track their nocturnal body temperature fluctuations.
Who Are the Key Players in the Temperature Sensor Market?
Major companies operating in the temperature sensor market include:
• Siemens AG
• NXP semiconductors N.V.
• Infineon Technologies AG
• Texas Instruments Incorporated
• Denso Corporation
• Tyco Electronics Ltd Connectivity
• Omron Corporation
• Sensor Scientific Inc.
• Chicago Telephone Supply Corporation.
• WIKA Instruments India Pvt. Ltd.
• Keyence Corporation
• Dwyer Instruments Ltd.
• Standex Electronics Inc.
• Thermocouple Technology LLC
• Kelvin Technologies Inc.
• Thermo Sensors Corporation
• Honeywell International Inc.
• Endress+Hauser Management AG
• Maxim Integrated
• Emerson Electric Co.
• Asea Brown Boveri
• Kongsberg
• Société de Techniques Microélectroniques
• Amphenol Advanced Sensors
• Sensata Technologies India Pvt. Ltd.
• Microchip Technology Inc.
• Omega Engineering Inc.
• Panasonic Corporation
• Fluke Corporation
• Danfoss A/S
• Tokyo Denki Kagaku Kogyo Kabushiki-gaisha Corporation
• Murata Manufacturing Co. Ltd.
• Vishay Intertechnology Inc.
• ON Semiconductor Corporation
• Analog Devices Inc.
• Sensirion AG
• Melexis NV
• Elektronik Gesellschaft mit beschränkter Haftung
• Heraeus Holding GmbH
• Micro-Epsilon
What are the Regional Insights into the Temperature Sensor Market?
Asia-Pacific was the largest region in the temperature sensor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the temperature sensor market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
