Temperature Sensor Market Set to Surge at 5.4 % CAGR, to Reach USD 10.1 billion by 2031

Author:
Transparency Market Research Inc.

Date
02/12/2024

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Temperature Sensor Market Set to Surge at 5.4 % CAGR, to Reach USD 10.1 billion by 2031

­The global temperature sensor market was projected to attain US$ 6 billion in 2022. It is anticipated to garner a 5.4% CAGR from 2022 to 2031 and by 2031, the market is likely to attain US$ 10.1 billion by 2031.

A temperature sensor is an electrical device that detects and measures temperature. It takes note of temperature variations and transforms them into an electrical signal so that a computer or other monitoring equipment may read it. Numerous industries, including aircraft, automotive, consumer electronics, healthcare, and industry, employ temperature sensors.

Temperature sensors are used in many commonplace devices. The correct operation of consumer electronics equipment, including micro ovens, thermostats, and refrigerators, depends on temperature regulation and upkeep.

In the realm of the Internet of Things, temperature sensors have several uses, including managing and keeping an eye on the temperature in medical facilities, smart homes, and industrial operations. Temperature sensors based on the Internet of Things enable users to promptly obtain temperature measurements and take appropriate action depending on various requirements.

Key Findings of the Market Report 

  • Sensors and integrated systems are used by vehicle producers to monitor a wide range of variables and quantities for safety, comfort, performance, and dependability.
  • The engine temperature of electric vehicles (EVs) is constantly monitored and maintained at a specific level for optimal operation.
  • In order to keep the batteries in electric vehicles (EVs) from overheating while charging and discharging, temperature sensors are utilized.
  • They are used to regulate and keep an eye on the temperature of electric motors.

Market Trends for Temperature Sensors

  • The industrial equipment application sector represented 31.2% of the temperature sensor market in 2022. The majority of industrial machinery requires adequate heating or cooling. Temperature sensors are therefore often used to track and regulate temperature in order to ensure that industrial machinery operates as intended.
  • In 2022, the product type category for contact temperature sensors represented 61.2% of the market. Over the projection period, it is anticipated to expand at a CAGR of 5.7% while maintaining the current quo.
  • Contact temperature sensors measure precise temperature when there is bodily contact or a close surface. Furthermore, the sensor's contact-based feature enables it to work in dangerous and filthy places.
  • The market for wearable technology is expanding quickly as a result of the rise in popularity of fitness and health tracking gadgets. The healthcare industry benefits from advancements in wearable sensor technology, particularly in precision medicine, where wearables provide accurate, real-time assessments of a patient's health.
  • Temperature tracking is being incorporated into wearable technology products by corporations. Players like Outfit, Whoop, and Oura are including temperature sensors onto their gadgets so that they may record and gather data on temperatures continually.

Global Temperature Sensor Market: Key Players 

Companies are utilizing innovation in the global temperature sensor market to create sensors that provide accurate and dependable temperature measurement for a range of sectors, including consumer electronics, automotive, healthcare, and industrial automation.

To address changing needs for IoT applications, energy efficiency, and environmental monitoring, key companies are concentrating on improving sensor accuracy, miniaturization, and connection features, which is fueling market growth and competition. 

The following companies are well-known participants in the global temperature sensor market:

  • ABB
  • Amphenol Advanced Sensors
  • Analog Devices, Inc.
  • Ashcroft Inc.
  • BlueRadios, Inc.
  • Dwyer Instruments Ltd.
  • Emerson Electric Co.
  • Hans Turck GmbH & Co. KG
  • Honeywell International Inc.
  • Infineon Technologies AG
  • Maxim Integrated
  • Microchip Technology Inc.
  • Murata Manufacturing Co., Ltd.
  • NXP Semiconductors
  • Omega Engineering
  • OMRON Corporation
  • Pyromation
  • Renesas Electronics Corporation
  • Robert Bosch GmbH
  • Semiconductor Components Industries, LLC
  • Siemens AG
  • STMicroelectronics
  • Others

Key developments by the players in this market are:

  • Micro Crystal released the RV-3032-C7 temperature sensor module in February 2023. It is appropriate for applications requiring limits crossing detection, continuous temperature monitoring, and timekeeping features that adhere to stringent clock accuracy over time.
  • Samsung released the Galaxy 5 Watch, which has temperature sensing capabilities, in February 2023.
  • Sensirion introduced their fourth-generation STS4x temperature sensor family in March 2022. Because of its small size, low power consumption, and cost-effectiveness, STS4x is a good choice for battery-driven designs and mass manufacturing.

Global Market for Temperature Sensor: Regional Outlook

  • Asia Pacific is estimated to account for the majority of the market between 2023 and 2031. In 2022, the area had a share of 32.4%. The region's market dynamics are being driven by the increasing production and usage of electronic gadgets, cars, and portable healthcare devices.
  • In 2022, North America owned a 27.1 share. The Industrial Internet of Things (IIoT) and automation are being more widely used in a variety of industries, such as aerospace, automotive, and manufacturing, which is improving market statistics in the area.

Global Temperature Sensor Market Segmentation  

Product Type

  • Contact Temperature Sensors
  • Thermocouples
  • Resistance Temperature Detectors
  • Thermistors
  • Others (Liquid-in-Glass Thermometers, Bimetallic Thermometers, etc.)
  • Non-contact Temperature Sensors
  • Fiber Optic Temperature Sensors
  • Radiation Thermometers
  • Pyrometers
  • Optical Pyrometers
  • Infrared/Radiation Pyrometers
  • Others (Thermal Imagers, Furnace Monitoring Cameras, etc.)

Output

  • Analog
  • Digital

Measurement Type

  • Single Point
  • Multi Point

Application

  • Analytical Instruments
  • Process Control
  • HVAC
  • Ovens and Furnaces
  • Industrial Equipment
  • Automotive Electronics
  • Others (Aerospace Control, Environmental Monitoring, etc.)

End-Use Industry

  • Automotive & Transportation
  • Aerospace & Defense
  • Energy & Utility
  • Chemicals
  • Oil & Gas
  • Healthcare
  • Metal & Mining
  • Building & Construction
  • Consumer Electronics
  • Food & Beverage
  • Others (IT & Telecommunication, Agriculture, etc.)

Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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