Temperature Sensor Global Market Sees Growth Rate Of 7% Through 2022

The global temperature sensor market size is expected to grow from $7.50 billion in 2021 to $8.05 billion in 2022 at a compound annual growth rate (CAGR) of 7.3%. The change in the market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The temperature sensor market is expected to reach $10.49 billion in 2026 at a CAGR of 6.9%.

What is the Global Temperature Sensor Market?

The temperature sensor market consists of sales of temperature sensor devices by entities (organizations, sole traders, and partnerships) that are used to take accurate temperature measurement readings. A temperature sensor is an electronic device that records, monitors, or signals temperature changes by measuring the temperature of its surroundings and converting the input data into electronic data.

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What drives the Global Temperature Sensor Market?

The growing healthcare sector is significantly contributing to the growth of the temperature sensor market. The increasing healthcare business necessitates the use of temperature sensors to provide dependable and precise monitoring of key temperatures. Temperature sensors are used in sleep apnea machines, digital thermometers, blood analyzers, anesthesia delivery machines, neonatal intensive care units to monitor patient temperature, ventilators, medical incubators, humidified oxygen heater temperature monitoring and control equipment, and kidney dialysis machines. For instance, according to India Brand Equity Foundation (IBEF) report, the healthcare sector is estimated to reach US$372 billion by 2022. Therefore, the growing healthcare sector is projected to propel the growth of the temperature sensor market in the coming years.

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Global Temperature Sensor Market Segments
The global temperature sensor market is segmented:
By Product Type: Contact Temperature Sensors, Non-Contact Temperature Sensors
By Output: Digital, Analog
By Connectivity: Wired, Wireless
By End-User: Manufacturing Industry, Aerospace Industry, Energy Sector, Electronics Industry, HVAC Industry, Others
By Geography: The regions covered in the temperature sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Temperature Sensor Global Market Report 2022provides market size and growth forecasts for the global temperature sensor market, global temperature sensor market share, temperature sensor market segments and geographies, temperature sensor market competitive landscape including leading competitors’ revenues, profiles and market shares. The temperature sensor market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Temperature Sensor Industry Playersinclude Siemens AG, NXP Semiconductors N.V., Infineon Technologies AG, Texas Instruments Incorporated, Denso Corporation, TE Connectivity, Omron Corporation, Sensor Scientific Inc., CTS Corporation, WIKA Instruments India Pvt. Ltd., Keyence Corporation, Dwyer Instruments Ltd., Standex Electronics Inc., Thermocouple Technology LLC, Kelvin Technologies Inc., and Thermo Sensors Corporation. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.