Global Temperature Sensor Market: Factors Helping to Maintain Strong Position Globally 2020-2026

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Global Temperature Sensor Market Factors Helping
to Maintain Strong Position Globally 2020-2026
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Industry Overview

• Accordingly, to Global Market Insights research
  report 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 products efficiency and usefulness
  by gathering real-time temperature data.
• 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.

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• 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 industry.
• Notably, single-channel digital temperature
  sensors offer high flexibility, and features
  outstanding responses to low high temperatures.
  Back in 2019, the segment held almost 20 of the
  overall market share, and is forecasted to
  maintain a 4 CAGR throughout the predicted
  timeframe. With the help of these digital
  outputs, the performance of temperature sensors
  can be adjusted as per the user-programmable
  internal register. Moreover, it enables an alarm
  output if the measuring temperature surpasses the
  predefined temperature output.

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Growth Drivers

• Rising adoption in advance and portable
  healthcare equipment
• Increasing home and building automation systems
  in developing nations
• Rapid use of temperature sensor in industrial
  automation
• Implementation of temperature control systems in
  food safety management
• Burgeoning growth of data centers in Asia Pacific
• Deployment of temperature sensors in space
  applications

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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 sensors market

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