Global Temperature Sensor Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Temperature Sensor Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by Trusted Business Insights. The global temperature sensor market report has been segmented on the basis of product type, end-use industry, and region.

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Global Temperature Sensor Market: Overview

Temperature sensors are type of sensors that used to detect heat or temperature. It measures coldness or/and heat energy generated by a system or an object. Temperature sensors detect physical temperature and provide output in analog or digital format. There are two types of basic temperature sensors namely, contact temperature sensor and non-contact temperature sensor. Temperature sensors also can be categorized into resistive sensors, electric sensors, and electro-mechanical sensors.

Global Temperature Sensor Market: Dynamics

Growing usage of temperature sensors in portable equipment in healthcare sector, coupled with rapidly growing healthcare sector are major factors expected to drive growth of the global temperature sensor market. Temperature sensors requires low power for functioning, and provide data with high accuracy. Favorable government regulations regarding adoption of temperature sensors, owing to heat control related problems is another factor supporting growth of the global market. Increasing adoption of temperature sensors in automotive industry to measure temperatures and avoid over-heating in automobiles is a factor fueling growth of the target market. Furthermore, increasing use of temperature sensor in automation systems is a factor expected to boost growth of the global temperature sensor market.

However, robust competition among manufacturers may result into reduced profits to sustain in the market, and that may hamper revenue growth of the global temperature sensor market. Nevertheless, growing adoption of wearable devices and increasing adoption of temperature sensors for various industrial applications are expected to create potential  revenue opportunities for major manufacturers operating in the global temperature sensor market.

Global Temperature Sensor Market: Segment Analysis

On the basis of product type, the contact-type temperature sensor segment expected to register high growth in terms of revenue over the forecast period. Increasing use of contact-type temperature senores in chemical, oil & gas, and other industries owing to its low cost and high accuracy is a major factor expected to drive growth of the global temperature sensor market. On the basis of end-use industry, currently, the chemical industry segment is estimated to dominate in the global market in terms of revenue, and is expected to continue with its dominance over the forecast period.

Global Temperature Sensor Market: Regional Analysis

Market in Asia Pacific is expected to account for major share in terms of revenue in the global market. Increasing demand and adoption of electronic equipment, coupled with rapidly growing electronic manufacturing industry are factors that are expected to propel revenue growth of the target market, especially in countries such as China and India in this region. In addition, booming food & beverage industry, as well as automotive sector is another key factor expected to support growth of the temperature sensor market in Asia Pacific. Markets in North America and Europe are anticipated to account for significant revenue shares in the global market owing to inclining number of automobiles production.

Global Temperature Sensor Market Segmentation:

Segmentation by product type:

Noncontact-type Temperature Sensor
Fiber Optic Temperature Sensor
Infrared Temperature Sensor
Contact-type Temperature Sensor
Thermocouple
Thermistor
Resistive Temperature Detector (RTD)
Temperature Sensor IC

Segmentation by end-user industry:

Aerospace & Defense
Automotive
Oil & Gas
Energy and Power
Metals and Mining
Healthcare
Consumer Electronics
Chemicals
Food & Beverages
Others (Advanced Fuels, Glass, and Pulp and Paper)