As per the report by Fortune Business Insights, the global Temperature Sensor Market size is projected to reach reach USD 7.88 billion by 2026 at a CAGR of 6.1% during the forecast period.
Temperature Sensors Market
Pune,India, Aug. 28, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global Temperature Sensors Market Size was valued at USD 5.02 billion in 2018 to USD 7.88 billion by 2026, exhibiting a CAGR of 6.1% during the forecast period. The healthcare sector heavily depends on temperature-sensitive applications, such as pharmaceutical storage, medical equipment, and patient monitoring. Fortune Business Insights™ mentioned this in a report titled Temperature Sensors Market Forecast, 2023-2026.
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https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/temperature-sensor-market-102434
Key Industry Development
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Azbil Corporation, one of the leading companies in building and industrial automation, has started selling ceiling-mounted sensors, an indoor sensor, outside Japan, majorly for use in office building HVAC systems.
Key Takeaways:
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The Increasing Use in Home and Building Automation Surge the Temperature Sensor Market Growth
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Rising Penetration in Portable Healthcare Equipment to Augment the Growth of the Market
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Increasing Adoption in Automotive Sector to Drive the Growth of the Market
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Temperature Sensors Market Size in North America was USD 1.79 Billion in 2018
Discover the Leading Players Featured in the Report:
“Companies leading the Temperature Sensors Market are ABB, Emerson Electric Co., HONEYWELL INTERNATIONAL INC., DENSO CORPORATION, STMicroelectronics, Infineon Technologies AG, Robert Bosch GmbH, NXP Semiconductors, OMRON Corporation, TE Connectivity, Analog Devices, Inc., Texas Instruments Incorporated, Maxim Integrated, Amphenol Advanced Sensors, Renesas Electronics Corporation, Kongsberg Maritime, Microchip Technology Inc., Semiconductor Components Industries,LLC, Siemens, TDX Corporation, Endress+Hauser Management AG, Okazaki Manufacturing Company, Yamari Industries Limited”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2019 to 2026 |
| Forecast Period 2019 to 2026 CAGR | 6.1% |
| 2026 Value Projection | USD 7.88 Billion |
| Base Year | 2018 |
| Temperature Sensors Market Size in 2018 | USD 5.12 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 160 |
| Segments covered | Type, End-user and Geography |
Browse Complete Report Details:
https://www.fortunebusinessinsights.com/temperature-sensor-market-102434
Driving factors
Industrial automation across sectors such as manufacturing, oil and gas, and automotive has fueled the demand for temperature sensors.The integration of temperature sensors into IoT networks has opened up new avenues for data-driven decision-making. Industries like healthcare, agriculture, and logistics rely on IoT-connected temperature sensors to monitor and maintain optimal conditions, contributing to product quality, safety, and compliance. The healthcare sector heavily depends on temperature-sensitive applications, such as pharmaceutical storage, medical equipment, and patient monitoring. Temperature sensors help ensure the safety and efficacy of medications, vaccines, and sensitive medical procedures. The proliferation of smartphones, laptops, wearables, and home appliances has escalated the demand for temperature sensors.