The temperature sensor market size was valued at US$ 6.01 billion in 2022 and is expected to reach US$ 9.66 billion by 2030; it is estimated to record a CAGR of 6.3% from 2023 to 2030.
Analyst Perspective:
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.
Temperature Sensor Market Overview:
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.
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Temperature Sensor Market: Strategic Insights
Market Size Value in US$ 6.01 billion in 2022 Market Size Value by US$ 9.66 billion by 2030 Growth rate CAGR of 6.3% from 2023 to 2030 Forecast Period 2023-2030 Base Year 2022
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Temperature Sensor Market: Strategic Insights
| Market Size Value in | US$ 6.01 billion in 2022 |
| Market Size Value by | US$ 9.66 billion by 2030 |
| Growth rate | CAGR of 6.3% from 2023 to 2030 |
| Forecast Period | 2023-2030 |
| Base Year | 2022 |
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Temperature Sensor Market Driver:
Growing Adoption Across Various Industries Drives Temperature Sensor Market
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.
- Semiconductor Manufacturing – Temperature sensors are usually incorporated into integrated circuits (ICs), including microprocessors and microcontrollers. These ICs are widely used to manufacture laptops, tablets, desktop computers, mobile telephones, and other electronic devices. Growing demand for high-performance microprocessors and microcontrollers among electronics manufacturers is driving the market. For instance, in December 2023, Microchip Technology Inc. launched the AVR EB Family of Microcontrollers (AVR EB MCUs), used to manufacture laptops, desktop computers, and other electronic devices. AVR EB MCUs are used to reduce noise, vibration, and system harness by adjusting timing, speed, and waveform shape in the semiconductor manufacturing process.
- Aerospace – Temperature sensors are essential for the aerospace industry for measuring the degree of hydraulic oils, fuel, and coolants. Resistance temperature detectors (RTD) and thermocouples are the two most common temperature sensors that can withstand extreme high-heat environments and are used to measure overeating of engines accurately. Companies such as Fluid Components LLC, Temp-Pro Inc., and AMETEK Inc. are engaged in developing high-performance temperature sensors for the aerospace industry.
- Healthcare & Pharma – Healthcare & pharma industries are increasingly using temperature sensors integrated within the machines and devices. Temperature sensors, such as thermistors, thermocouples, magnetic resonance imaging (MRI) equipment, resistance temperature detectors (RTDs), and portable ultrasound scanners, are used to perform a range of medical procedures and monitor patients. For instance, temperature sensors support thermometers in the quick and accurate measurement of a patient's health. They provide real-time data to medical staff to offer higher standards of service to patients. For instance, in September 2023, TriMedika Ltd launched TRITEMP non-contact thermometer for monitoring patient's foreheads. TRITEMP is integrated with an infrared sensor that detects infrared radiation emitted by a patient's forehead and converts it into an accurate reading for healthcare providers. Moreover, TRITEMP is a highly portable and versatile device that can be used in numerous healthcare settings, including hospitals, clinics, and home care.
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.
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Temperature Sensor Market Report Segmentation and Scope:
The temperature sensor market is segmented on the basis of type, connectivity, end users, and geography. Based on type, the market is segmented into thermocouples, thermistors, resistance temperature detectors, infrared, and others. Based on connectivity, the market is bifurcated into wired and wireless. Based on end user, the market is segmented into semiconductor manufacturing, aerospace, healthcare & pharma, food & beverages, energy & utility, data centers, and others. The scope of the temperature sensor market report is primarily segmented into North America (the US, Canada, and Mexico), Europe (Russia, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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Temperature Sensor Market Segmental Analysis:
Based on connectivity, the market is bifurcated into wired and wireless. The wired segment held a larger temperature sensor market share in 2022. Wired temperature sensors are devices that measure temperature and transmit the data using physical wires or cables. The most significant benefit of wired sensors is the stability of the connection. Wired connections do not suffer from data loss from signal strength issues. A wired connection also helps to reduce interference from outside sources that can have an impact on wireless signals. The constant and stable connection from wired sensors provides the most accurate, real-time results possible. Wired temperature sensors are more reliable and durable than their wireless counterparts, making them well-suited for applications that need consistent readings in challenging environments. In industrial processes, a wired thermocouple is used to measure the temperature of molten metal in a manufacturing setting. Industries such as semiconductor manufacturing, aerospace & defense, food & beverages, energy & utility, pharmaceutical, HVAC, chemical & petrochemical, agriculture, and automotive are majorly using wired temperature sensors for seamlessly managing their business operations.
Temperature Sensor Market Regional Analysis:
In terms of revenue, Asia Pacific dominated the temperature sensor market share. Asia Pacific is emerging as a key region in healthcare and pharma, attracting significant investments. According to MJH Life Sciences, China, Japan, and India are the largest healthcare and pharma markets in the region. China's healthcare industry is experiencing rapid growth, driven by rising incomes, increasing health awareness, and an aging population. It is also a priority sector for the Chinese Government to address healthcare gaps and meet rising demand. Chinese firms are taking several initiatives to adopt temperature sensors for the healthcare industry. For instance, in January 2020, the Shanghai Public Health Clinical Center (SPHCC) used VivaLNK's continuous temperature sensor to monitor COVID-19 patients.
Moreover, China's healthcare sector generated 10 trillion yuan in 2021. The Healthy China 2030 initiative has also precipitated an increase in demand for new technology to optimize healthcare delivery systems, including digitalization. Such growth in the healthcare and pharma sector in major markets of Asia Pacific will drive the temperature sensor market growth in the region.
Key Player Analysis:
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 are among the key players profiled in the temperature sensor market. Several other major market players were studied and analyzed during this market research study to get a holistic view of the market and its ecosystem. The temperature sensor market analysis provides detailed market insights, which help the key players strategize their growth.
Temperature Sensor Market Recent Developments:
The temperature sensor market forecast can help stakeholders plan their growth strategies. Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the market. A few recent key market developments are listed below:
- In January 2024, Microchip Technology Inc launched the MCP998x family of 10 automotive-qualified remote temperature sensors. Designed for 1°C accuracy at a wide operational temperature range, the MCP998x family is one of the largest portfolios of automotive-grade multi-channel temperature sensors in the industry. It includes five sensors with shutdown temperature setpoints that are designed not to be overwritten by software or maliciously disabled.
- In January 2023, TDK Corp introduced the TDK i3 Micro Module, the first module with edge AI and wireless mesh connectivity. It is developed in collaboration with Texas Instruments. It integrates TI SimpleLink, Arm Cortex-M4F MCU, SmartIndustrial MEMS accelerometer, and mesh network functionality. This module simplifies deployment and sensor data gathering.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Connectivity, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The estimated global market size for the temperature sensor market in 2022 is expected to be around US$ 6.01 billion
Asia Pacific is expected to register highest CAGR in the temperature sensor market during the forecast period (2022-2030)
United States, China, and Germany are expected to register high growth rate during the forecast period
Thermocouple segment is expected to hold a major market share of temperature sensor market in 2022
The global market size of temperature sensor market by 2030 will be around US$ 9.66 billion
Siemens AG, Honeywell International Inc, NXP Semiconductors NV, Amphenol Corp, and ABB Ltd, are the key market players expected to hold a major market share of temperature sensor market in 2022
Rising demand for wireless temperature sensors are anticipated to play a significant role in the temperature sensor market in the coming years.
Increasing number of data centers and strategic initiatives by government are the major factors that propel the temperature sensor market.
The List of Companies - Temperature Sensor Market
- 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
- NXP Semiconductors NV
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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