Ripe, rosy, and ready to measure those rising climate-change temperatures, Research Report Insights sees the demand for temperature sensor equipment growing at a CAGR of 6%. In a recent report, the research firm finds the market for temperature sensors will snag $7.5 Billion during the forecast period from 2016 to 2023.
Findings
- Increasing demand for temperature sensors in the automotive sector, growing use of home and building automation systems and rising demand for temperature sensors in advanced and portable healthcare equipment are driving the industrial robotics market.
- Declines in the personal-computer market will hamper growth.
- Asia Pacific is expected to increase at the highest growth rate over the forecasting period.
- Growing demand for smartphones and other consumer electronics devices are resulting in market growth.
- The market is categorized into segments that include chemicals, oil & gas, energy & power, consumer electronics, food & beverages, healthcare, automotive, aerospace & defense, advanced fuels, metals & mining, glass, and pulp & paper. Among these segments, it is expected that the chemical end-user industry will lead the market.
- Major companies active in the global temperature sensor market include ABB, Texas Instruments, Analog Devices, Amphenol, Honeywell International, Global Mixed-Mode Technology, Kongsberg Gruppen, Integrated Device Technology, and Microchip Technology.
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