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Global Temperature Sensor Market Share has been accelerated USD 6.26 billion by 2022

Press Release   •   Jan 05, 2018 07:11 EST

Zion Market Research has published a new report titled “Temperature Sensor Market (Thermistor, Resistive Temperature Detector, Thermocouple, Infrared Temperature Sensor, Fiber Optic Temperature Sensor, Bimetallic Temperature Sensor and Others) Market for Food and Beverage, Aerospace and Defense, Chemicals, Oil & Gas, Consumer Electronics, Automotive, Healthcare and Others End-User: Global Industry Perspective, Comprehensive Analysis And Forecast, 2016 - 2022.” According to the report, global temperature sensor market was valued at around USD 4.81 billion in 2016 and is expected to generate revenue of USD 6.26 billion by end of 2022, growing at a CAGR of 4.50% between 2017 and 2022.

A temperature sensor is a device, typically, a thermocouple or RTD that provides for temperature measurement through an electrical signal. A thermocouple (T/C) is made from two dissimilar metals that generate an electrical voltage in direct proportion to changes in temperature. In general, a temperature sensor is a device which is designed specifically to measure the hotness or coldness of an object. LM35 is a precision IC temperature sensor with its output proportional to the temperature (in °C). With LM35, the temperature can be measured more accurately than with a thermostat. It also possesses low self-heating and does not cause more than 0.1 °C temperature rise in still air. The operating temperature range is from -55°C to 150°C.

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Rising importance of advanced and portable health care equipment and growing demand for high-performance sensor instruments are expected to be the major drivers for the global temperature sensor market. Further, increase in the demand of consumer electronics are expected to support the temperature sensor market growth in the near future. Nonetheless, the rising application areas globally are expected open new avenues for the market growth over the next few years. Moreover, increasing government initiatives to improve the medical and healthcare industry in North America is also expected to drive the temperature sensors market.

A range of end-user segments of temperature sensor market includes food and beverage, aerospace and defense, chemicals, oil & gas, semiconductor and electronics, automotive, healthcare and others. Food and beverage segment is one of the leading segments of temperature sensor market. Consumer electronics, automotive, healthcare is other key outlets of the market and expected to exhibit significant growth within the forecast period. The thermocouple is one of the dominating segments of this market. Thermocouples are used to generate electricity. The thermistor is another key outlet for temperature sensor market.
Demand for temperature sensor was the highest in North America and accounted for over 41% share of the total market. Asia Pacific was predicted to be the fastest growing region due to the growing economies in the region such as China, Japan, South Korea, and India, among others. Europe is expected to grow at significant rate in the forecast period.

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Key participants in the temperature sensor market are ABB Ltd., General Electric Co., Infineon Technologies AG, STMicroelectronics N.V., Panasonic Corp., ON Semiconductor, Maxim Integrated Products Inc., Honeywell International Inc., Microchip Technology Inc., Siemens and Texas Instruments Inc.

This report segments the global temperature sensor market as follows:

Global Temperature Sensor Market: Product Segment Analysis

  • Thermistor
  • Thermocouple
  • Infrared Temperature Sensor
  • Fiber Optic Temperature Sensor
  • Resistive Temperature Detector
  • Bimetallic Temperature Sensor
  • Others

Global Temperature Sensor Market: End-User Segment Analysis

  • Food and Beverage
  • Aerospace and Defense
  • Chemicals
  • Oil & Gas
  • Consumer electronics
  • Automotive
  • Healthcare
  • Others

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