Temperature Sensor Global Market Report 2024

A temperature sensor is an electronic tool designed to record, observe, or indicate variations in temperature by assessing the temperature of its environment and converting the obtained information into electronic data. These sensors play a crucial role in obtaining precise temperature measurements.

Temperature sensors primarily come in two types: contact temperature sensors and non-contact temperature sensors. Contact temperature sensors are electronic devices that must maintain physical contact with the substance being sensed. They rely on conduction mechanisms to monitor temperature fluctuations and are capable of detecting a broad spectrum of temperatures. The outputs can be digital or analog, and they utilize various connectivity options such as wired and wireless. These sensors find application in diverse sectors, including the manufacturing industry, aerospace industry, energy sector, electronics industry, HVAC industry, among others.

The temperature sensor market research report is one of a series of new reports that provides temperature sensor market statistics, including temperature sensor industry global market size, regional shares, competitors with a temperature sensor market share, detailed temperature sensor market segments, market trends and opportunities, and any further data you may need to thrive in the temperature sensor industry. This temperature sensor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The temperature sensor market size has grown strongly in recent years. It will grow from $8.94 billion in 2023 to $9.64 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The expansion observed during the historical period can be ascribed to factors such as industrial automation, consumer electronics, initiatives promoting energy efficiency, healthcare requirements, and regulations focused on ensuring food safety.

The temperature sensor market size is expected to see strong growth in the next few years. It will grow to $13.55 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The anticipated growth in the forecast period is linked to environmental monitoring, healthcare wearables, agriculture, and precision farming, as well as cold storage and logistics, along with data center cooling. Noteworthy trends expected during this period encompass miniaturization and IoT integration, non-contact temperature sensing, wireless temperature monitoring, industrial automation, and the adoption of high-precision sensors.

The expansion of the healthcare sector is playing a significant role in driving the growth of the temperature sensor market. The increasing scope of the healthcare industry demands the utilization of temperature sensors for reliable and accurate monitoring of critical temperatures. These sensors find application in various medical devices such as sleep apnea machines, digital thermometers, blood analyzers, anesthesia delivery machines, neonatal intensive care units, ventilators, medical incubators, and kidney dialysis machines. For example, the healthcare sector in India is projected to reach USD 372 billion by 2022, according to the India Brand Equity Foundation (IBEF) report. This substantial growth in the healthcare sector is expected to fuel the demand for temperature sensors in the years to come.

The rise in the prevalence of autonomous vehicles is anticipated to drive the growth of the temperature sensor market. Autonomous vehicles utilize temperature sensors to monitor engine temperatures and regulate cooling fans accordingly, ensuring optimal engine performance. A report by the Insurance Institute for Highway Safety predicts 3.5 million self-driving vehicles on American roads by 2025 and 4.5 million by 2030, highlighting the increasing prevalence of autonomous vehicles. As a result, the demand for temperature sensors is expected to grow in tandem with the expanding autonomous vehicle market.

The ongoing technological advancements are shaping the landscape of the temperature sensor market. Key players in the market are concentrating on developing technologically advanced temperature sensor devices to enhance their market position. For instance, Apple introduced temperature sensors in its Apple Watch Series 8 and Apple Watch Ultra models, featuring sensors designed to measure wrist temperature during sleep. This data is then stored in the Health app, allowing users to track nighttime baseline shifts in body temperature. Such innovations contribute to the overall growth and competitiveness of the temperature sensor market.

Major companies in the temperature sensor market are increasingly focused on introducing advanced sensors for non-invasive temperature measurement of media inside pipes. These sensors, which do not require direct contact, offer precise temperature measurement without the need for drilling or cutting into pipes. For example, OMEGA Engineering launched the latest version of its HANI Clamp-On Temperature Sensor, designed for plastic pipe applications. This non-invasive sensor measures the temperature of media inside pipes without any disruption, eliminating the need for drilling or downtime during installation.

In May 2023, SpotSee, an environmental condition monitoring solutions provider, acquired unique temperature indicator technologies and intellectual property from Sensor International. This acquisition enhances SpotSee's capabilities in temperature surveillance, crucial for its supply chain monitoring services. The undisclosed amount acquisition reinforces SpotSee's position in the market and expands its offerings in monitoring temperature and other environmental conditions across various industries. Sensor International, based in Bangladesh, operates in the sensor industry.

Major companies operating in the temperature sensor market include Siemens AG, NXP semiconductors N.V., Infineon Technologies AG, Texas Instruments Incorporated, Denso Corporation, Tyco Electronics Ltd Connectivity, Omron Corporation, Sensor Scientific Inc., Chicago Telephone Supply Corporation., WIKA Instruments India Pvt. Ltd., Keyence Corporation, Dwyer Instruments Ltd., Standex Electronics Inc., Thermocouple Technology LLC, Kelvin Technologies Inc., Thermo Sensors Corporation, Honeywell International Inc., Endress+Hauser Management AG, Maxim Integrated, Emerson Electric Co., Asea Brown Boveri, Kongsberg, Société de Techniques Microélectroniques, Amphenol Advanced Sensors, Sensata Technologies India Pvt. Ltd., Microchip Technology Inc., Omega Engineering Inc., Panasonic Corporation, Fluke Corporation, Danfoss A/S, Tokyo Denki Kagaku Kogyo Kabushiki-gaisha Corporation, Murata Manufacturing Co. Ltd., Vishay Intertechnology Inc., ON Semiconductor Corporation, Analog Devices Inc., Sensirion AG, Melexis NV, Elektronik Gesellschaft mit beschränkter Haftung, Heraeus Holding GmbH, Micro-Epsilon

Asia-Pacific was the largest region in the temperature sensor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global temperature sensor market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the temperature sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The temperature sensor market consists of sales of contact-type temperature sensors and noncontact-type temperature sensors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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