Temperature Sensor Market Trends, Key Players and Forecast 2028

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MarketsandMarkets Presents
The Temperature Sensor Market is estimated to be
valued at USD 5.9 billion in 2021 and reach USD
8.0 billion by 2028 it is anticipated to grow at
a CAGR of 4.5 during the forecast period
(20212028). The continuous demand for
temperature sensors, which are integrated into
devices like wearable bands, smartphones, and
patient monitoring devices, from industries such
as consumer electronics and healthcare is driving
the Temperature Sensor Market Growth. For the
past few years, the demand for reliable,
high-performance, and low-cost sensors has been
increasing, leading to the development of new
technologies like micro and nanotechnology, which
provides benefits such as miniaturization, low
power consumption, and mass production.
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MarketsandMarkets Presents
Wireless Temperature Sensors are projected to
witness the highest CAGR for the forecast
period Wireless Temperature Sensors are expected
to grow at a higher CAGR during the forecast
period. Industrial automation and demand for
miniaturized consumer devices, such as wearables
and IoT-connected devices, across regions, are
key factors driving the wireless segment of the
Temperature Sensor Market.
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MarketsandMarkets Presents
Digital Temperature Sensors to account for the
largest share of the market during the forecast
period Temperature Sensors with digital outputs
have several advantages over sensors with analog
outputs and are especially suited for remote
applications. Digital temperature sensors find
applications in medical and aerospace verticals,
test and measurement equipment, and industrial
automation. Download PDF Sample _at_
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MarketsandMarkets Presents
Contact Temperature Sensors is estimated to hold
a major share of the market Contact Temperature
Sensors are expected to account for 86 share of
the overall market by 2028. This segment is
likely to continue holding a larger market share
than the non-contact temperature sensors segment
during the forecast period, due to the use of
contact temperature sensors for detecting solid,
liquid, or gaseous elements covering a wide range
of materials. Contact temperature sensors are
widely used in the chemicals, consumer
electronics, oil gas, energy power, and
automotive industries, owing to their low cost,
wide temperature range, and high accuracy.
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MarketsandMarkets Presents
Consumer Electronics is expected to hold the
largest share in 2028 The consumer electronics
segment is projected to register a CAGR of 5.7
during the forecast period. This segment is
likely to continue holding the largest market
share during the forecast period owing to the
growing adoption of temperature sensors in
consumer electronics, including smartphones, PCs,
laptops, tablets, and other smart home
appliances. Lately, several newer devices have
also been added under this segment.
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MarketsandMarkets Presents
APAC is attributed to growing at the highest CAGR
in the Temperature Sensor Market during the
forecast period (2021-2028) APAC accounted for
the largest share (46) of the Temperature
Sensor Market in 2020. China, India, South Korea,
and Japan are the major contributors to the
growth of the temperature sensor market in APAC.
The Temperature Sensor Market in APAC is likely
to be driven by the evolving automotive, medical,
and industrial manufacturing companies and the
rising demand for temperature sensors from
overseas markets of North America and Europe.
However, the US, Canada, and Mexico are the major
contributors to the growth of the temperature
sensor market in North America.
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MarketsandMarkets Presents
APAC is attributed to growing at the highest CAGR
in the Temperature Sensor Market during the
forecast period (2021-2028) North America is one
of the most technologically advanced markets for
temperature sensors owing to the presence of
prominent system suppliers as well as large
chemicals, oil gas, healthcare, and food
beverage companies in the region.
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MarketsandMarkets Presents
Key Market Players In 2020, the Temperature
Sensor Market was dominated by Honeywell
International Inc. (US), TE Connectivity Ltd.
(Switzerland), Texas Instruments Incorporated
(US), EndressHauser Management AG (Switzerland),
and Siemens AG (Germany). Browse For More
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