21.09.2021 Бизнес

Temperature Sensor Market Size, Status, Top Players, Trends in Upcoming Years

Resistance temperature detectors (RTD), thermistors, temperature IC, and thermocouple are the major types of temperature sensors used around the world. Out of these, the demand for thermistors is predicted to rise at the fastest pace in the coming years. This will be because of the several benefits provided by these devices such as high sensitivity, faster response rate, low cost, small size, the flexibility to be customized, and greater ease of use.

Automotive & aerospace, petrochemical and oil & gas, food & beverage, consumer electronics, pharmaceuticals, industrial, and utilities are the major industries in which temperature sensors are extensively used. Amongst these, the automotive & aerospace industry recorded the highest usage of temperature sensors in 2019. This was because of the enactment of strict policies by several governments that mandated the adoption of temperature sensors in automobiles.

This was done to make automobiles more fuel-efficient, mainly because of the surging requirement for reducing the emission of toxic greenhouse gases (GHG). Geographically, the sales of temperature sensors were found to be the highest in APAC in 2019 and this trend will continue in the forthcoming years as well. This will be because of the soaring requirement for processed foods, rising urbanization rate, and booming automobile industry in the region.

Hence, it can be said without any hesitation that the demand for temperature sensors will surge massively in the coming years, mainly because of their growing usage in the automobile industry, which is itself exhibiting rapid expansion, and the mushrooming sales of smartphones and wearable medical devices across the world.

This market research report provides a comprehensive overview of the market

* The Future potential of the market through its forecast for the period 2020– 2030
* Major factors driving the market and their impact during the short, medium, and long terms
* Market restraints and their impact during the short, medium, and long terms
* Recent trends and evolving opportunities for the market participants
* Historical and the present size of the market segments and understand their comparative future potential
* Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings