Temperature Sensor Market Global Trend, Segmentation and Opportunities Forecast to 2026

Temperature Sensor Market Global Trend, Segmentation and Opportunities Forecast to 2026

The research report on temperature sensor market, in substance, presents an exclusive understanding of the vast expanse of the business space in question. The report comprises a gist of the industry by means of providing an executive summary, industry insights, industry ecosystem analysis, market segmentation, and global trends. Furthermore, the study also provides deliverables pertaining to the regulatory and competitive landscapes and the strategic perspectives of various industry contenders with respect to the market.

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.

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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.

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.

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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 sensor market.

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