Temperature Sensors Market - Growth, Trends, and Forecast (2019 - 2024)

The Temperature Sensors market is segmented by Deployment (Wired, Wireless), Type (Infrared, Thermocouple, Resistance Temperature Detectors, Thermistor, Temperature Transmitters, Integrated Circuit, Fiber optics), End-user Industry (Chemical & Petrochemical, Oil & Gas, Metal & Mining, Automotive, Food & Beverage, Consumer Electronics, Power Generation, Medical, Aerospace & Military) and Geography

Market Snapshot

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Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

7.39%

Key Players:

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Market Overview

The global temperature sensors Market valued at USD 5958.21 million in 2018, is expected to reach a value of USD 9117.17 million by 2024, at a CAGR of 7.39%, during the forecast period (2019 - 2024). There has been a significant presence of temperature sensors in the market for more than four decades and are the most commonly used devices for temperature measurement and controlling purposes. Technological advancements are helping aid the market growth

  • Market is witnessing the evolution of temperature sensors into smart sensors, by offering features, such as wireless connectivity, remote monitoring, automatic calibration, etc. 
  • Wearables are attracting growing attention in the market, coupled with miniature, integrated sensors that are worn as garments or accessories. These devices are currently increasing the potential of temperatures sensor market.
  • Increasing adaption of HVAC modules, Government initiatives toward safety norms for surveillance systems employment and robust demand for consumer electronic products further boosts the market growth

Scope of the Report

The automotive, chemical, oil and gas, steel, consumer electronics, medical sectors show a strong ground for temperature sensors market. RTDs growing market is a reflection of its usage to measure the temperature at higher ranges with more accuracy in comparison to thermocouples or thermistors. The PRTs which makes use of Platinum, are more precise in measurements and stable as it doesn’t require a cold junction compensation as thermocouples do. this report segments the market by The Temperature Sensors market is segmented by Deployment (Wired, Wireless), Type (Infrared, Thermocouple, Resistance Temperature Detectors, Thermistor, Temperature Transmitters, Integrated Circuit, Fiber optics), End-user Industry (Chemical & Petrochemical, Oil & Gas, Metal & Mining, Automotive, Food & Beverage, Consumer Electronics, Power Generation, Medical, Aerospace & Military) and Geography

By Deployment
Wired
Wireless
By Type
Infrared
Thermocouple
Resistance Temperature Detectors (RTD)
Thermistor
Temperature Transmitters
Fiber Optic
Other Types
By End-user Industry
Chemical & Petrochemical
Oil & Gas
Metal & Mining
Automotive
Food & Beverage
Consumer Electronics
Power Generation
Medical
Aerospace & Military
Other End User Industries
Geography
North America
US
Canada
Europe
Germany
UK
France
Russia
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Consumer Electronics segment to witness highest growth

  • The trending wearable gadgets, such as bands and smartwatches, advanced ultra-thin personal computers and tablets, and smart home gadgets, make use of temperature sensors to work efficiently.
  • More businesses in wearable segment are closely working on improving the reliability of temperature readings with more easy to wear devices like t-shirts/workwear, in-ear devices, patches and head gears specifically for consumers at large.
  • Trends in the personal computing industry, such as smaller system size, faster processors, and the need to support more advanced applications make monitoring and controlling heat more important than before.
  • Furthermore, temperature sensor manufacturers need competence in software component to develop connected devices for greater adoption and product differentiation. Joint Ventures/Collaborations and Acquisitions are observed in temperature sensor market.
  • For instance, in 2016, TDK Corporation acquired InvenSense to realize new sensor applications in IoT and Automotive sector. This acquisition promotes further growth in sensor products.
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North America is expected to hold the major market share

  • The United States is the second largest producer of passenger car vehicles after China, according to the German Association of Automotive Industry. The use of temperature sensor in HVAC system contributes the most after applications in consumer/home electronics
  • The Oil & Gas, Automotive, Consumer Electronics sectors are the largest sources of demand for the temperature sensors in the country
  • Consumer Technology Association has projected USD 301 billion of wholesale revenue from Consumer Electronics Shipments in the U.S. for the year 2019
  • In 2017, FOSA (Fiber-Optic Sensing Association) was formed in Washington, DC to make producers aware about benefits of integrated fiber optic sensing in Oil & Gas and  Railways to start with
  • Under NAFTA agreement, U.S Imposed 25% tariff on Steel which affects Canada’s imports for automobile manufacturing
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Competitive Landscape

The competitive rivalry is not consolidated in this market, despite the presence of few major players operating in the market such as Honeywell, Texas Instruments and STMicroelectronics among other regional and local manufacturers. The competitive rivalry among existing competitors is high. Continiuous product upgradation and Industry Convergence is driving the market towards highly differenciated offerings. Some of the key developments in the area are:

  • TE Connectivity launched NTC Thermistor in 2017, a light weight product, small in size with high efficiency (operate at -1500C) and low cost. One of its key applications is in the automotive industry, where it monitors the temperature of batteries in electric cars, preventing battery overheating.
  • In 2018, Amazon puts USD 61 million investment into smart thermostat company Ecobee to realise benefit from connected devices trend in the industry.

Major Players

  1. Honeywell International Inc.
  2. NXP Semiconductors N.V.
  3. ABB Ltd.
  4. Panasonic Corporation
  5. Texas Instruments Inc.

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Industry 4.0 Rapid Factory Automation

      2. 4.3.2 Increasing Demand for Wearable in Consumer Electronics

    4. 4.4 Market Restraints

      1. 4.4.1 Availability of Multiple Technologies

    5. 4.5 Industry Value Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

    7. 4.7 Industry Policies

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Deployment

      1. 5.1.1 Wired

      2. 5.1.2 Wireless

    2. 5.2 By Type

      1. 5.2.1 Infrared

      2. 5.2.2 Thermocouple

      3. 5.2.3 Resistance Temperature Detectors (RTD)

      4. 5.2.4 Thermistor

      5. 5.2.5 Temperature Transmitters

      6. 5.2.6 Fiber Optic

      7. 5.2.7 Other Types

    3. 5.3 By End-user Industry

      1. 5.3.1 Chemical & Petrochemical

      2. 5.3.2 Oil & Gas

      3. 5.3.3 Metal & Mining

      4. 5.3.4 Automotive

      5. 5.3.5 Food & Beverage

      6. 5.3.6 Consumer Electronics

      7. 5.3.7 Power Generation

      8. 5.3.8 Medical

      9. 5.3.9 Aerospace & Military

      10. 5.3.10 Other End User Industries

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 US

        2. 5.4.1.2 Canada

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 UK

        3. 5.4.2.3 France

        4. 5.4.2.4 Russia

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 South Korea

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 Latin America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Mexico

        4. 5.4.4.4 Rest of Latin America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 UAE

        2. 5.4.5.2 Saudi Arabia

        3. 5.4.5.3 South Africa

        4. 5.4.5.4 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Texas Instruments Incorporated

      2. 6.1.2 Panasonic Corporation

      3. 6.1.3 Siemens AG

      4. 6.1.4 Honeywell International Inc.

      5. 6.1.5 ABB Ltd

      6. 6.1.6 STMicroelectronics

      7. 6.1.7 NXP Semiconductors NV

      8. 6.1.8 Emerson Electric Company

      9. 6.1.9 Microchip Technology Incorporated

      10. 6.1.10 Analog Devices Inc.

      11. 6.1.11 Fluke Process Instruments

      12. 6.1.12 GE Sensing & Inspection Technologies GmbH

      13. 6.1.13 Mouser Electronics

      14. 6.1.14 Robert Bosch GmbH

      15. 6.1.15 Günther GmbH Temperaturmesstechnik

      16. 6.1.16 TE Connectivity Ltd

      17. 6.1.17 Denso Corporation

      18. 6.1.18 Omron Corporation

      19. 6.1.19 FLIR Systems

      20. 6.1.20 Thermometris

      21. 6.1.21 Maxim Integrated Products

      22. 6.1.22 Kongsberg Gruppen

      23. 6.1.23 Yokogawa Electric Corporation

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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