Global Temperature Sensor Industry was valued at USD 4.95 Billion in the year 2017. Global Temperature Sensor Industry is further estimated to grow at a CAGR of 3.94% from 2019 to reach USD 6.73 Billion by the year 2025. North America region holds the highest Industry share in 2017 and Asia-Pacific Industry is considered as the fastest growing Industry in the forecast period. At a country level, developed industry’s like The U.S. as well the emerging industries like China with highest population base holds a notable Industry share in 2017 and it is projected to grow at a gradual pace in the coming years.
Major market players in Temperature Sensor Industry are ABB Group, Denso Corporation, Honeywell International Inc., Emerson Electric Co., STMicroelectronics N.V., NXP Semiconductors N.V., Infineon Technologies AG, Siemens, Bosch GmbH, Omron Corporation, and other 12 companies detailed information is provided in the research report. Rising research and development expenses to address the changing demand of end users. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of the top players in the last 5 years.
SWOT Analysis of Temperature Sensor Industry:
Rising demand due to the developments in the automotive industry
Use of automation in smart home concepts
Reduction in prices due to the introduction of substitute technology
Use of sensors which include infrared devices in the defense sector
Increasing implementation of HVAC (Heating, Ventilating, and Air Conditioning) for domestic and manufacturing use
Estimating the demand to manage the production capacity
Segmentation done on the basis of Product Type includes Temperature Sensor IC, Thermistor, Resistive Temperature Detector (RTD), Bimetallic Temperature Sensor, Infrared Temperature Sensor, Thermocouple; of which the Thermocouples segment is expected to hold the highest Industry share during the forecast period. This Industry share is expected as automotive manufacturers are focusing mainly on performance & safety. Automotive thermocouples help in measuring important interpretations like exhaust gas readings of the vehicles.
By Industry Sector
• Oil & Gas
By Product Type
• Temperature Sensor IC
• Resistive Temperature Detector (RTD)
• Bimetallic Temperature Sensor
• Infrared Temperature Sensor
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa