Selbyville, Delaware, United States, November 5 2020 (Wiredrelease) Global Market Insights, Inc –:The temperature sensor market is anticipated to witness noteworthy growth on account of surging application across diverse electronic appliances. Th product is extensively used in microwaves, air conditioners, battery chargers, and refrigerators. Since the introduction of AI and IoT in electronic appliances, manufacturers have started to integrate these sensors into their devices to improve their product’s efficiency and usefulness by gathering real-time temperature data.
Temperature sensors are observing immense traction across the oil & gas sector as they play a crucial part in processes like extraction, production, refining, and distribution of oil, gases, and petrochemicals. This has compelled temperature sensor manufacturers to launch new product lineups. Citing an instance, earlier in October 2018, Crowcon released a high-temperature sensor that detects the levels of H2S across oil & gas applications in the Middle East.
Considering these growth prospects, Global Market Insights, Inc., came to an estimation that the temperature sensor market could cross USD 9 billion by 2026.
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Based on application, the temperature sensor market is bifurcated into oil & gas, chemical, healthcare, automotive, and consumer electronics. Out of these, the automotive segment is likely to embark remarkable growth, registering a compound annual growth rate of more than 3% by 2026. This growth can be attributed to the widespread adoption of thermistor contact sensors in exhaust applications and engine control units.
These sensors have robust designs and provide high-temperature sensing facility while being affordable. Shifting trends towards vehicle electrifications coupled with mounting federal norms that mandate the installation of electronic monitoring systems could strengthen the prospects of temperature sensor market.
Notably, single-channel digital temperature sensors offer high flexibility, and features outstanding responses to low & high temperatures. Back in 2019, the segment held almost 20% of the overall market share, and is forecasted to maintain a 4% CAGR throughout the predicted timeframe. With the help of these digital outputs, the performance of temperature sensors can be adjusted as per the user-programmable internal register. Moreover, it enables an alarm output if the measuring temperature surpasses the predefined temperature output.
In a bid to achieve a competitive edge over competitors, industry participants are constantly focusing on developing and launching new products as well as entering into new strategic relationships to improve their existing partner network. Taking November 2019 for instance, STMicroelectronics unveiled its latest temperature sensor that has a temperature accuracy of 0.25°C, delivering applications in remote monitoring as well as low-power consumption.
Currently, TE Connectivity, Teledyne Technologies Incorporated, Amphenol Corporation, Rockwell Automation, Analog Devices, OMEGA Engineering, Texas Instruments Incorporated, Renesas Electronics Corporation, Integrated Device Technology, Inc., Honeywell International, STMicroelectronics N.V., and NXP Semiconductors N.V. are the leading firms in the global temperature sensors market.
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Table Of Content:
Chapter 4. Temperature Sensor Market, By Product (Revenue, Shipments)
4.1. Key trends, by product
4.2.1. Market estimates and forecast, 2016 – 2026
4.2.2. Temperature sensor ICs
18.104.22.168. Market estimates and forecast, 2016 – 2026
4.2.3. Resistive temperature detector
22.214.171.124. Market estimates and forecast, 2016 – 2026
126.96.36.199. Market estimates and forecast, 2016 – 2026
188.8.131.52. Market estimates and forecast, 2016 – 2026
4.2.6. Bimetallic temperature sensor
184.108.40.206. Market estimates and forecast, 2016 – 2026
4.3.1. Market estimates and forecast, 2016 – 2026
220.127.116.11. Market estimates and forecast, 2016 – 2026
18.104.22.168. Market estimates and forecast, 2016 – 2026
Chapter 5. Temperature Sensor Market, By Output (Revenue, Shipments)
5.1. Key trends, by output
5.2.1. temperature sensor market estimates and forecast, 2016 – 2026
5.3.1. Market estimates and forecast, 2016 – 2026
5.3.2. Single channel
22.214.171.124. Market estimates and forecast, 2016 – 2026
126.96.36.199. Market estimates and forecast, 2016 – 2026
Chapter 6. Temperature Sensor Market, By Application (Revenue, Shipments)
6.1. Key trends, by application
6.2.1. Market estimates and forecast, 2016 – 2026
6.3. Oil & gas
6.3.1. Market estimates and forecast, 2016 – 2026
6.4. Consumer electronics
6.4.1. Market estimates and forecast, 2016 – 2026
6.5.1. Market estimates and forecast, 2016 – 2026
6.6.1. Market estimates and forecast, 2016 – 2026
6.7.1. Market estimates and forecast, 2016 – 2026
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/temperature-sensor-market
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