Temperature Sensor Market 2020 By Regional Trend, Revenue & Growth Forecast to 2025
The consumer electronics segment is propelling the temperature sensor market demand. With the emergence of digitalization, innovative technologies are being integrated with systems and devices. This has led to the increased use of sensor technology and various electronic appliances such as battery chargers. For instance, these sensors are used in car battery chargers to determine when to stop charging, avoiding overcharging of the battery and preventing undercharging of the device. It is also used to turn off the battery charger by sensing the rise in temperature. Owing to these aspects and increasing use in applications, the demand for the temperature sensors is expected to grow over the forecast period.
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Another driver accelerating the temperature sensor market is its substantial use in the oil, gas, and marine applications. These sensors are used for various purposes such as extradition, production, refining, and distribution of oil, gas, and other petrochemicals. Heat tracing sensors are used to measure the temperature of the pipes, which are enclosed in the systems. Technological advancements with the trend of miniaturization in the electronics sector will fuel the market growth.
The temperature sensor market in the Asia Pacific region is proliferated by the increasing demand in consumer equipment. The emergence of automation in several industry verticals has led to the rising adoption of sensor technology. The demand for consumer electronic devices, such as smartphones, laptops, wearables, etc., has tremendously increased, creating a large market share for the market. Europe temperature sensor market is expected to flourish owing to the integration of advanced technologies on a large scale by the automotive sector in Germany. Several companies are adopting and integrating innovative technologies for efficient processing, augmenting the market.
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Methodology used in the Temperature Sensor Market Report –
our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the industry. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
• Definition and scope of research
• Market dynamics, growth drivers and industry pitfalls
• Regulatory and political guidelines for the industry
• Demographics and statistical data
Prominent players in the industry are Siemens, Honeywell International Inc. DENSO Corporation, Infineon Technologies AG, Omron, Robert Bosch GmbH, ABB Group, and IST AG. The temperature sensor market is characterized by the extensive R&D department. The key players in the industry are constantly launching and innovating solutions to differentiate their products in the market. For instance, IST AG launched a new product series in response to the high demand for high precision platinum temperature sensors, whereas Omron expanded its product line by introducing a series of high sensitivity thermal sensors. The increasing competition among key players to launch advanced solutions will drive the market growth.
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