The temperature sensor market size is projected to reach US$ 9.66 billion by 2030 from US$ 6.01 billion in 2022. The market is expected to register a CAGR of 6.3% during 2022–2030. Miniaturization of Temperature Sensors is likely to remain a key trend in the market.
Growing demand for temperature sensing technologies among manufacturers across the globe is expected to boost the temperature sensor market during the forecast period. Temperature sensing technologies are widely integrated into consumer electronics, automotive, communications, industrial, and enterprise sectors. The growth in the number of data center construction activities, increasing renewable energy and smart city projects, and significant government initiatives are propelling the temperature sensor market. A rise in demand for temperature sensors in sectors such as semiconductor manufacturing, aerospace, healthcare & pharmaceuticals, food & beverages, energy & utilities, and data centers contributes significantly to the overall temperature sensor market.
Rapid urbanization and rise in the global population drive the semiconductor manufacturing, consumer electronics, and automotive sectors. The expansion of the consumer electronics industry, coupled with the rising demand for smartphones, tablets, laptops, smartwatches, and desktop computers, contributes significantly to the expansion of the temperature sensor market. Consumers are highly concerned about maintaining the device temperature and protecting their device from overheating, which reflects a high demand for temperature sensor features integrated into smartphones, smartwatches, tablets, laptops, and other consumer electronic devices. Thermocouple temperature sensors are highly integrated into smartphones and tablets to prevent overheating. Moreover, the miniaturization of temperature sensors is expected to bring new temperature sensor market trends in the coming years.
A temperature sensor is a device used to measure and detect liquid temperature, air temperature, or the temperature of solid matter. Temperature sensors measure the hotness and coolness of an object and significantly convert it into an electrical signal that a computer or other monitoring device can read. A variety of temperature sensors, such as thermocouples, thermistors, resistance temperature detectors, and infrared, are available in the market. They use different principles and technologies to measure different temperatures. Several products used by consumers heavily rely on temperature sensors. Consumer electronics devices such as refrigerators, microwaves, thermostats, and ovens depend on temperature control and maintenance to function properly.
Temperature sensors are used for various purposes across sectors such as semiconductor manufacturing, aerospace, healthcare & pharma, food & beverage, energy & utilities, and data centers for accurately and efficiently monitoring the temperatures of a particular object or environment. These sensors are used for calculating the temperature of a certain object or environment. Below mentioned are the uses and benefits provided by temperature sensors in numerous industries.
Other industries such as food & beverages, energy & utilities, data centers, oil & gas, mining, and automotive are also increasingly adopting temperature sensors for measuring the temperature of engines and machines. The growing use of temperature sensors helps industries measure temperature by tracking activities, which, in turn is favoring the temperature sensor market growth.
Wireless temperature sensors are measurement devices equipped with transmitters that enable process control instruments to transmit signals via radio. After interpreting the radio signal, a receiver transforms it into the desired output, such as an analog current or data analysis via computer software. Technological advancement and increasing demand for remote monitoring devices are creating demand for wireless temperature sensors among industries. The growing demand for wireless temperature sensors is associated with the increasing dependency of industries on Internet of Things (IoT) technology. Wireless temperature sensor offers unparalleled scalability and flexibility and enables deployment in remote locations. This flexibility and scalability of wireless temperature sensors extend to temporary installations for monitoring specific environments, such as temperature fluctuation during storage and transportation of perishable goods. Thus, all these factors are projected to favor the market during the forecast period.
Key segments that contributed to the derivation of the temperature sensor market analysis are type, connectivity, and end user.
The geographic scope of the temperature sensor market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The Asia Pacific region in the temperature sensor market held the largest market share in 2022. Several Asian industries, especially semiconductor manufacturing, automotive, consumer electronics, data centers, and energy, have created a rapid demand for temperature sensors over the years. According to the Asia Pacific Foundation, China and Taiwan have significantly boosted investments in chip manufacturing, with South Korea and Japan also looking to benefit. To make any chip, numerous processes such as deposition, photoresist, lithography, ionization, silicon wafer, and packaging play an important role. Temperature sensors are used in these processes to measure and monitor the temperature, which further boosts the market growth. Also, the Taiwan Semiconductor Manufacturing Company planned to set up its first factory in Japan, which aligned with the Japanese Prime Minister's agenda of prioritizing semiconductor manufacturing to expand domestic supply chains.
The regional trends and factors influencing the Temperature Sensor Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Temperature Sensor Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 6.01 Billion |
| Market Size by 2030 | US$ 9.66 Billion |
| Global CAGR (2023 - 2031) | 6.3% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Temperature Sensor Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Temperature Sensor Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The temperature sensor market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the temperature sensor market are listed below:
The “Temperature Sensor Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:
The List of Companies - Temperature Sensor Market
Asia Pacific is expected to dominate the temperature sensor market with the highest market share in 2022.
The temperature sensor market size is projected to reach US$ 9.66 billion by 2030.
The leading players operating in the temperature sensor market are Texas Instruments Inc., Siemens AG, TE Connectivity Ltd, Amphenol Corp, Analog Devices Inc., Emerson Electric Co, Microchip Technology Inc, Panasonic Holdings Corp, Honeywell International Inc, and NXP Semiconductors NV.
The global temperature sensor market is expected to grow at a CAGR of 6.3% during the forecast period 2023 - 2030.
The major factors driving the temperature sensor market are the growing adoption across industries, the increasing number of data centers and strategic initiatives by the government.
Miniaturization of temperature sensors is anticipated to play a significant role in the global temperature sensor market in the coming years.