Technological Advancements Transforms The Temperature Sensor Market

Temperature Sensor Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Temperature Sensor Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, January 31, 2022 /EINPresswire.com/ -- The growing technological advancements are shaping the temperature sensor market. Temperature sensor market trends include key players operating in the market focusing on developing advanced technological temperature sensor devices to strengthen their

position in the market. For instance, in March 2020, Polysense Technologies Inc., a US-based company that offers IoT-based temperature sensors launched WxS x800-IRTMS and WxS x800-IRTM based on IoT edge computing technology. WxS x800-IRTMS is a standalone thermal meter that measures human body temperature infrared touch-free. The WxS x800-IRTM is a self-calibrated IoT big data thermal meter that supports a variety of wireless uplinks for cloud connectivity, including NB-IoT, Wi-Fi, LoRaWAN, and 4G LTE.

In December 2020, CTS Corporation, a US-based manufacturer of sensors and electronic components including temperature sensors acquired Sensor Scientific Inc. for an undisclosed amount. This acquisition will help CTS Corporation to expand its temperature sensing product portfolio and build a strategy for innovative products. Sensor Scientific Inc. is a US-based company that designs, develops, and manufactures temperature sensor assemblies and thermistor sensors for various industries.

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Major players covered in the global temperature sensor industry are Siemens AG, NXP Semiconductors N.V., Infineon Technologies AG, Texas Instruments Incorporated, Denso Corporation, TE Connectivity, Omron Corporation, Sensor Scientific Inc., CTS Corporation, WIKA Instruments India Pvt. Ltd., Keyence Corporation, Dwyer Instruments Ltd., Standex Electronics Inc., Thermocouple Technology LLC, Kelvin Technologies Inc., and Thermo Sensors Corporation.

The global temperature sensor market size is expected to grow from $7.50 billion in 2021 to $8.05 billion in 2022 at a compound annual growth rate (CAGR) of 7.3%. The change in the market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The temperature sensor market share is expected to reach $10.49 billion in 2026 at a CAGR of 6.9%.

The growing healthcare sector is significantly contributing to the growth of the temperature sensor market. The increasing healthcare business necessitates the use of temperature sensors to provide dependable and precise monitoring of key temperatures. Temperature sensors are used in sleep apnea machines, digital thermometers, blood analyzers, anesthesia delivery machines, neonatal intensive care units to monitor patient temperature, ventilators, medical incubators, humidified oxygen heater temperature monitoring and control equipment, and kidney dialysis machines. For instance, according to India Brand Equity Foundation (IBEF) report, the healthcare sector is estimated to reach US$372 billion by 2022. According to the temperature sensor market analysis, the growing healthcare sector is projected to propel the growth of the market in the coming years.

TBRC’s global temperature sensor market report is segmented by product type into contact temperature sensors, non-contact temperature sensors, by output into digital, analog, by connectivity into wired, wireless, by end-user into manufacturing industry, aerospace industry, energy sector, electronics industry, HVAC industry, others.

Temperature Sensor Global Market Report 2022 – By Product Type (Contact Temperature Sensors, Non-Contact Temperature Sensors), By Output (Digital, Analog), By Connectivity (Wired, Wireless), By End-User (Manufacturing Industry, Aerospace Industry, Energy Sector, Electronics Industry, HVAC Industry) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a temperature sensor market overview, forecast temperature sensor market size and growth for the whole market, temperature sensor market segments, geographies, temperature sensor market trends, temperature sensor market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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