The
Global Temperature Sensors Market is expected to reach USD 6.13 billion by
2020, according to a new study by Grand View Research, Inc. Increasing global
demand for smarter consumer electronics and automobiles is expected to favor
market growth over the forecast period. Temperature sensors are increasingly
used in smartphones and other consumer electronics to monitor their temperature
and enhance performance.
Basic
temperature sensors include resistive temperature devices (RTD), thermocouples,
liquid expansion devices, silicon diodes, infrared sensors etc. Additionally,
fusion of communication, computing and sensing is expected to drive the MEMS
market, which is expected to benefit global temperature sensor demand.
Technological advancements and device miniaturization also drive market growth.
Need for ensuring safety and favorable regulatory scenario is expected to fuel
market growth over the forecast period. However, intense competition and
significant price cuts may restrain the temperature sensors market over the
forecast period.
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Further key findings from the study
suggest:
Consumer
electronics and environmental applications are expected to grow at a
considerable rate over the forecast period. Temperature sensors are
increasingly used standalone or integrated with diverse equipment. This
technology is spurred by factors such as low cost and power and wireless
connectivity. Introduction of new raw materials such as polymers is expected to
lower the weight, size and cost of electronic devices.
Sensors
are used in wide range of applications such as consumer electronics,
automotive, process industries etc. owing to easy equipment integration.
Temperature sensors are increasing used in automotive applications such as
cylinder head temperatures, coolant, and air intake. Therefore, rise in
automobile production is expected to favor market demand. Temperature sensors
are also used in HVAC, environmental control, food processing, medical devices
and chemical handling applications.
The
Asia Pacific temperature sensors market accounted for over 30% of the global
demand and is expected to grow at a considerable rate over the next six years.
The regional market is expected to be driven by advancements in sensor
technology and demand for high-performance sensors that can be fitted into
handheld portable devices. China is expected to be the largest contributor to
regional market revenue generation over the next six years.
Key
market participants include ABB, Delphi Automotive, Analog Devices Inc.,
Siemens AG, Freescale Semiconductor, Honeywell International, Texas
Instruments, NXP Semiconductors, Panasonic, etc. Honeywell serves various
industries including aerospace & defense, medical, transportation,
industrial etc. Key players are increasingly moving their manufacturing
facilities in countries with economical labor particularly in Asia Pacific to
reduce their overall cost. Cost effective and differentiated services are
expected to be a critical success factor for the industry participants.
Grand
View Research has segmented the global temperature sensors market on the basis
of application and region:
Temperature Sensors Application
Outlook (Revenue, USD Million, 2012 - 2020)
- Automotive
- Consumer Electronics
- Environmental
- Healthcare & Medical
- Process Industries
- Others
Temperature Sensors Regional Outlook
(Revenue, USD Million, 2012 - 2020)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- Japan
- India
- RoW
- Brazil
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About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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