Temperature Sensor Market Size, Share, Statistics and Industry Growth Analysis Report by Product Type (Contact Temperature Sensor, Non-Contact Temperature Sensor), Output (Analog, Digital), Connectivity (Wired, Wireless), End-user Industry (Consumer Electronics, Oil & Gas) and Region - Global Forecast to 2029
Updated on : Sep 12, 2024
Temperature Sensor Market Size & Share
[233 Pages Report] The Temperature Sensor Market Size is projected to grow from USD 7.4 billion in 2024 to USD 9.7 billion by 2029, registering a CAGR of 5.6% during the forecast period.
The rising inclusion of temperature control systems in food safety management , increasing adoption of Industry 4.0 and IoT, and increasing penetration of temperature sensors in advanced & portable healthcare equipment is expected to propel the temperature sensor market in the next five years. However, continuous price reductions and intense competition among manufacturers will likely pose challenges for industry players.
The objective of the report is to define, describe, and forecast the temperature sensor market based on product type, output, connectivity, end-user industry, and region.
Temperature Sensor Market Forecast to 2029
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Temperature Sensor Market Trends & Dynamics.
Driver: Increasing adoption of Industry 4.0 and IoT
Temperature sensors play a critical role in Industry 4.0 and industrial automation by providing real-time data for process monitoring, control, and optimization. The integration of temperature sensors with Internet of Things (IoT) devices and Industry 4.0 initiatives provides opportunities for real-time monitoring, data analytics, and automation in various industries and thus drives the temperature sensor market growth. The need for temperature sensors is growing in a variety of sectors, including industry, energy, healthcare, and agriculture. This is creating new opportunities for sensor makers as well as diversifying the market. Furthermore, temperature sensors are becoming more and more integrated with AI and machine learning technologies, allowing for advanced data analysis and predictive capabilities for process optimization. With the continuous evolution of Industry 4.0 and industrial automation, the demand for advanced temperature sensors is expected to grow significantly. By investing in innovative sensor technology and creating intelligent solutions, companies can leverage the power of temperature sensors to achieve optimal performance, efficiency, and sustainability in industrial operations.
Restraint: High initial cost involved in advanced sensors
Advancements in materials science and engineering have paved the way for the development of new and more capable sensors. To a significant extent, manufacturing has been at the forefront of incorporating advanced sensor technology. For instance, the current revolution in computer-integrated manufacturing has been enabled by advanced sensor technology. The rising expense of quality inspection is reflected in the more competitive global economy. As a result, quality needs to be a fundamental component of the production process, which means that it needs to be controlled either by removing the product for inspection at intermediate manufacturing stages or by continuously monitoring it with the right sensors. High initial costs are therefore anticipated to negatively impact temperature sensor manufacturing and logistics.
Opportunities: Increasing trend of wearable devices
Wearable devices are used for tracking several biometric parameters, such as heartbeat and body temperature. A rising number of end users are opting for wearable technology to enhance their overall health and fitness, which is driving the adoption of these electronic devices. With the advancement of technology, there is a growing need for temperature sensors in wearables like fitness trackers and smartwatches to detect and monitor physiological parameters like body temperature, heart rate, and pulse rate. It is anticipated that as technology advances, there will be a greater need for better wearables. It is anticipated that the players in the temperature sensor market will have development possibilities due to the increasing demand and increased health consciousness among people.
Challenges: Stringent performance requirements for advanced applications
Depending on the end-use application, the sensing capability of sensors varies, leading to inaccurate temperature measurement. For instance, temperature measurement parameters in the automotive end-user industry are different from those in the oil & gas end-user industry; therefore, the performance requirements of temperature sensors become critical for advanced applications. Higher application segments, such as process industries (chemicals, glass, and biotechnology), have different requirements in terms of temperature sensors—generally, high-temperature measurement is required. Furthermore, the temperature sensor market is characterized by the presence of a large number of manufacturers focusing mostly on the automotive, aerospace & defense, consumer electronics, and power industries. Since temperature measurement is a vital parameter in almost every process, sensors have achieved deep market penetration. Volume discounting in the case of low-priced sensors is a challenge.
Temperature Sensor Market Segmentation
Temperature Sensor Market Trends
The prominent players in the temperature sensor market are Honeywell International Inc. (US), TE Connectivity (Switzerland), Texas Instruments Incorporated (US), Endress+Hauser Group Services AG (Switzerland), Siemens (Germany), Emerson Electric Co. (US), Analog Devices (US), Amphenol Corporation (US), WIKA Alexander Wiegand SE & Co. KG (Germany), and Microchip Technology Inc. (US)among others. These companies boast mixing trends with a comprehensive product portfolio and strong geographic footprint.
Non-contact temperature sensor is expected to grow at the highest CARG in the temperature sensor market during the forecast period.
The non-contact temperature sensor segment is expected to account for a significant share and grow at the highest CAGR during the forecast period. These sensors measure the surface temperature of a body or object to be identified without any physical contact between the sensor and the measurement object. They are mainly used for small, moving, and inaccessible objects/sources/devices. Non-contact temperature sensors include infrared and fiber optic temperature sensors. Some of the prominent companies offering non-contact temperature sensors are OMEGA Engineering (US), TE Connectivity (Switzerland), Keyence Corporation (Japan), and Melexis (Belgium).
Consumer Electronics are expected to hold the largest share of the temperature sensor market in 2024.
The consumer electronics segment is expected to account for the highest share during the forecast period. The increasing use of temperature sensors in consumer electronics, such as smartphones, PCs, laptops, tablets, and other smart home appliances, is expected to keep this segment's market share at the top during the projected period. Moreover, with the introduction of new and innovative technologies in the consumer electronics industry, there is a huge opportunity for innovative and power-efficient temperature sensors.
The temperature sensor market is expected to have a high market share in China from the Asia Pacific region during the forecast period.
The Asia Pacific region continues to be a significant market for temperature sensors. Asia Pacific has been ahead of other regions in terms of the adoption of temperature sensor products and solutions. Continuous demand for cost-effective and highly efficient temperature sensors from chemicals, oil & gas, consumer electronics, energy & power, healthcare, automotive, and metals & mining industries is expected to drive the growth of the temperature sensor market in this region. The region’s automotive sector accounts for more than 50% of the world’s passenger car production. The thriving electrical and electronics industry in Asia Pacific is also supporting the growth of the temperature sensor market.
China is the largest consumer of electricity in the Asia Pacific, primarily owing to its rapid industrialization and high population. Growing demand from the energy & power sector will be one of the key drivers for the growth of the market in China. The country plans to invest heavily in renewable energy resources, which is anticipated to boost the demand for temperature sensors. Transformer monitoring systems, which deploy temperature sensors, are also being increasingly used in the country, which is likely to surge the demand for temperature sensors in the coming years.
Temperature Sensor Market by Region
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Top Companies Temperature Sensor - Key market players
Major vendors in the temperature sensor companies include Honeywell International Inc. (US), TE Connectivity (Switzerland), Texas Instruments Incorporated (US), Endress+Hauser Group Services AG (Switzerland), Siemens (Germany), Emerson Electric Co. (US), Analog Devices (US), Amphenol Corporation (US), WIKA Alexander Wiegand SE & Co. KG (Germany), and Microchip Technology Inc. (US)among others.
Temperature Sensor Market Report Scope
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Report Metric |
Details |
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Market Size Available for Years |
2020–2029 |
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Base Year |
2023 |
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Forecast Period |
2024–2029 |
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Units |
Value (USD Million/USD Billion) |
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Segments Covered |
Product type, output, connectivity, end-user industry, and region |
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Regions Covered |
North America, Europe, Asia Pacific, and RoW |
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Companies Covered |
Honeywell International Inc. (US), TE Connectivity (Switzerland), Texas Instruments Incorporated (US), Endress+Hauser Group Services AG (Switzerland), Siemens (Germany), Emerson Electric Co. (US), Analog Devices (US), Amphenol Corporation (US), WIKA Alexander Wiegand SE & Co. KG (Germany), and Microchip Technology Inc. (US) among others. |
Temperature Sensor Market Highlights
This report categorizes the temperature sensor market based on product type, output, connectivity, end-user industry, and region.
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Segment |
Subsegment |
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By Product Type |
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By Output |
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By Connectivity |
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By End-User Industry |
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By Region |
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Recent developments
- In October 2023, Endress+Hauser Group Services AG and SICK are aiming for a strategic partnership for SICK’s process automation business segment and have signed a joint memorandum of understanding.
- In February 2023, In order to implement remote monitoring solutions for condition-based maintenance and operational productivity benefits, TE Connectivity partnered with Preddio Technologies.
- In July 2022, Siemens added new CO2 control and monitoring capabilities to the RDG200 thermostat. There is a model in the RDG200 thermostat series that comes with control features and a CO2 sensor built right in.
Frequently asked questions:
Which are the major companies in the temperature sensor market? What are their primary strategies to strengthen their market presence?
Honeywell International Inc. (US), TE Connectivity (Switzerland), Texas Instruments Incorporated (US), Endress+Hauser Group Services AG (Switzerland), and Siemens (Germany) are among the leading players in the market. These companies have adopted organic and inorganic growth strategies such as product launches, partnerships and acquisitions, to gain a competitive advantage in the market.
Which is the potential market for the end-user industry?
Consumer electronics and food & beverages are end-user industries with high growth opportunities owing to advancements in technology.
What are the opportunities for new market entrants?
Factors such as the increasing trend of wearable devices, the rising inclusion of temperature control systems in food safety management, and supportive government initiatives & funding for IoT projects that require temperature sensors are creating opportunities for the players in the market.
Which product type is expected to drive market growth in the next six years?
Non-contact temperature sensors are expected to remain the major product type driving temperature sensor demand.
What are the major strategies adopted by temperature sensor companies?
The temperature sensor companies have adopted product launches, acquisitions, expansions, and contracts to strengthen their position in the temperature sensor market.
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The research process for this study included systematic gathering, recording, and analysis of data about customers and companies operating in the temperature sensor market. This process involved the extensive use of secondary sources, directories, and databases (Factiva, Oanda, and OneSource) for identifying and collecting valuable information for the comprehensive, technical, market-oriented, and commercial study of the temperature sensor market. In-depth interviews were conducted with primary respondents, including experts from core and related industries and preferred manufacturers, to obtain and verify critical qualitative and quantitative information as well as to assess growth prospects. Key players in the temperature sensor market were identified through secondary research, and their market rankings were determined through primary and secondary research. This research included studying annual reports of top players and interviewing key industry experts such as CEOs, directors, and marketing executives.
Secondary research
In the secondary research process, various secondary sources were referred to for identifying and collecting information important for this study. Secondary sources included corporate filings, such as annual reports, investor presentations, and financial statements; trade, business, and professional associations; white papers, temperature sensor products-related journals, certified publications; articles by recognized authors; directories; and databases.
Secondary research was conducted to obtain key information about the industry supply chain, market value chain, key players, market classification and segmentation as per industry trends to the bottom-most level, geographic markets, and key developments from both market- and technology-oriented perspectives. Data from secondary research was collected and analyzed to determine the overall market size, which was further validated by primary research.
Primary research
In the primary research process, various primary sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side included industry experts such as CEOs, VPs, marketing directors, technology & innovation directors, and key executives from major companies in the temperature sensor market.
After going through market engineering (which includes calculations for market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information and verify and validate the critical numbers obtained. Primary research was conducted to identify segmentation types, industry trends, key players, competitive landscape, and key market dynamics such as drivers, restraints, opportunities, and challenges, along with the key strategies adopted by players operating in the market.
To know about the assumptions considered for the study, download the pdf brochure
Market size estimation
In the complete market engineering process, both top-down and bottom-up approaches were used, along with several data triangulation methods, to estimate and forecast the size of the market and its segments and subsegments listed in the report. Extensive qualitative and quantitative analyses were carried out on the complete market engineering process to list the key information/insights pertaining to the temperature sensor market.
The key players in the market were identified through secondary research, and their rankings in the respective regions were determined through primary and secondary research. This entire procedure involved the study of the annual and financial reports of top players, as well as interviews with industry experts such as chief executive officers, vice presidents, directors, and marketing executives for quantitative and qualitative key insights. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated and enhanced with detailed inputs and analysis from MarketsandMarkets and presented in this report.
Temperature Sensor Market: Bottom-up Approach
Temperature Sensor Market: Top-down Approach
Data triangulation
After arriving at the overall size of the temperature sensor market from the market size estimation process explained above, the total market was split into several segments and subsegments. Where applicable, the market breakdown and data triangulation procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size was validated using top-down and bottom-up approaches.
Market Definition
A temperature sensor is a device that measures the degree of heat of a substance or its surroundings. Temperature sensors can be broadly classified into two main categories: contact and non-contact sensors.
Contact sensors: In these types of temperature sensors, physical contact with the object being sensed is required. These sensors work based on the principle of conduction to monitor temperature changes. They can be used to detect the temperature of solids, liquids, or gasses over a wide range. Major types of contact sensors are thermocouples, temperature sensor ICs, thermistors, and resistive temperature detectors (RTDs).
Non-contact sensors: These types of temperature sensors work on the principles of convection and radiation to monitor temperature changes. They detect the thermal radiation being transmitted from an object in the form of infrared radiation. The major types of non-contact sensors are infrared and optical sensors.
Key Stakeholders
- Raw material suppliers for system manufacturing
- Chemical Manufacturing Companies
- Oil & Gas Companies
- Energy & Power Generation Companies
- Consumer Electronics Manufacturers
- Food & Beverages Companies
- Healthcare Companies
- Automotive Manufacturers
- Aerospace & Defense Manufacturers
- Providers of Advanced Fuels
- Metals & Mining Companies
- Glass Manufacturers
- Pulp & Paper Companies
- Temperature Sensor Providers
- Engineering and Manufacturing Companies
Report Objectives
- To define, describe, and forecast the temperature sensor market based on product type, output, connectivity, end-user industry, and region
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To forecast the sizes of various segments with respect to four major regions—
North America, Europe, Asia Pacific, and RoW (Rest of the World) - To provide a detailed analysis of the temperature sensor supply chain
- To analyze the impact of the recession on the temperature sensor market
- To strategically analyze the micro markets with respect to individual growth trends and prospects and their contributions to the overall market
- To analyze competitive developments, such as expansions, agreements, partnerships, acquisitions, product developments, and research and development (R&D), in the temperature sensor market
- To analyze the opportunities for market players and provide details of the competitive landscape of the market
- To benchmark the market players using the proprietary, company evaluation matrix framework, which analyzes the market players on various parameters within the broad categories of business strategy excellence and strength of product portfolios
- To strategically profile the key players and comprehensively analyze their market positions in terms of ranking and core competencies, along with a detailed competitive landscape of the market.
Available customizations
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies.
Product analysis
- Detailed analysis and profiling of additional market players
The following customization options are available for the report:
- Market sizing and forecast for additional countries
- Additional five companies profiling
Generating Response ...
Growth opportunities and latent adjacency in Temperature Sensor Market
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At what extent, downfall in automotive sales will affect temperature sensor demand?