Press release
Temperature Sensors Market 2019 Global Leaders Overview and Industry Expected to grow at USD$ 5.93 Billion with 4.8% of CAGR by Forecast to 2023
Market Scenario
Temperature sensors are sensors that are installed into devices which are used to measure temperature of a medium for a given set of requirements. The industries using temperature sensors are automotive, petrochemical, aerospace and defense, automation and instrumentation, metal manufacturing and among others. Temperature sensors are used in various industries depending upon the type of requirement. However, the fusion of communication, computing and sensing is expected to drive the benefit to global temperature sensor demand.
The study indicates that the temperature sensor plays an important role in many applications such as maintaining a specific temperature is essential for equipment used to fabricate medical drugs, heat liquids, or clean other equipment. The Temperature Sensors Market has various factors that helps the market to grow as the temperature sensing is one of the most sensitive parameters for industries like petrochemical, automotive, aerospace and defense, consumer electronics, and so on. These sensors are installed into devices to measuring the temperature of a medium accurately and efficiently in a given set of requirements. While, the product including RTDs provides a wider operating temperature range, increased ruggedness and better accuracy which are helping them to dominate thermocouples.
The global Temperature Sensors Market is expected to grow at USD$ ~5.93 Billion by 2023, at ~4.8% of CAGR between 2017 and 2023.
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Key Players:
The prominent players in the Temperature sensors Market are – Siemens A G (Germany), Stmicroelectronics N.V. (Switzerland), TE Connectivity (Switzerland), Ultra Electronics Holdings Plc. (U.K), UTC Aerospace Systems (U.S), Analog Devices Inc. (Us), Texas Instruments Inc. (Us), Maxim Integrated Products Inc. (Us), Honeywell International Inc. (U.S), ABB Limited (Switzerland), Emerson Electric Corporation (Us) among others.
Temperature sensors Market Segmentation
The Temperature sensors Market has been segmented on the basis of product types, alloys used, applications, end -users and region. The Temperature sensors market is highly centralized by owing to the presence of many small regional suppliers and large multinational vendors. The Temperature sensor has wide range of applications across several industries such as electronics, automotive, and manufacturing. These sensors come in different forms, which has their unique applications for instance, integrated circuit (IC) temperature sensor are used in electronic applications to detect the heat released and start the cooling device. Furthermore, Honeywell serves various industries including aerospace & defense, medical, transportation, industrial etc. Key players are increasingly moving their manufacturing facilities in countries with economical labor particularly in Asia Pacific to reduce their overall cost. Cost effective and differentiated services are expected to be a critical success factor for the industry participants
Market Research Analysis:
On geographic basis, Temperature sensors market is studied in different regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading with largest market share growth in the Temperature sensors market. Europe is to be estimated to be second largest market for Temperature sensors during the forecast period, this is due to the rise in research activities in the chemicals and the healthcare sectors is likely to boost this regional market during the forecast period. The Asia Pacific temperature sensors market accounted for over 30% of the global demand and is expected to grow at a considerable rate over the next six years. The regional market is expected to be driven by advancements in sensor technology and demand for high-performance sensors that can be fitted into handheld portable devices. China is expected to be the largest CAGR to regional market revenue generation over the forecast period.
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Intended Audience
• Raw material providers
• Professional service/solution providers
• Research organizations and consulting companies
• Temperature sensor-related associations
• Temperature sensors manufacturers
• Component suppliers
• Semiconductor product designers and fabricators
• Research institutes and organizations
• Technology standards organizations
• Technology investors
• Research institutes,
• System Integrators
• Research/Consultancy firms
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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