Nov 20, 2020 (The Expresswire) -- Global “ Temperature Sensors Market ” Research Report 2020 - 2024 is made to give the market scene and limitless rule about contemporary market size, share, driving variables, patterns, reformist development, and predominant players of the Temperature Sensors market. The report serves in general data available to top makers, wholesalers, merchants, vendors. It will assist them with understanding the item scope, market diagram, market-main thrust, innovative progression, market danger, openings, and examination discoveries.
The Temperature Sensors market is isolated into the item, end-use area, and district. In addition, key organizations are examined dependent on their budgetary viewpoints, their innovative work statuses, just as their development procedures for the coming years, have been featured in the report. Contingent upon the division, the examination record uncovers the item advancement, benefit, cost, market worth, and improvement proportion of each sort.
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Temperature Sensors Market Report Segmented by Regions : North America, Europe, Asia-Pacific (APAC), Middle East and Africa, Rest of World (ROW). This Temperature Sensors market research report focuses on theKey Manufacturers Profiles in DetailwithGranular Analysisof theMarket Share, Production Technology, Market Entry Strategies,Revenue Forecasts, andRegional Analysisof the Market.
The global temperature sensors market was valued at USD 5531.9 million in 2017 and is expected to reach a value of USD 8503.1 million by 2023 at a CAGR of 7.37%, over the forecast period (2018 - 2023).
Temperature is the most frequently measured environmental quantity, and temperature influences many biological, physical, chemical, mechanical, and electronic systems. Some processes work well only within a limited field of temperatures. So, necessary care must be taken to monitor and protect the system. Temperature sensing serves to enhance circuit stability. Real-time temperature monitoring, with dedicated temperature sensors, ensures that modern-day systems operate in the safe thermal zone. New-generation sensors monitor internal and external componentsâ hotspots with pinpoint precision enabling real-time temperature monitoring. With the advent of wireless and Silicon on Sapphire technologies, the temperature sensors sector is witnessing new opportunities in the market that could help them gain significant share in the global electronics and electrical industry.
Consumer Electronics to Generate Huge Demand in the Near Future
Consumer electronics is one of the most prominent markets for the use of temperature sensors. The trending wearable gadgets, such as bands and smartwatches, advanced ultra-thin personal computers and tablets, and smart home gadgets, make use of temperature sensors to work efficiently. Trends in the personal computing industry, such as smaller system size, faster processors, and the need to support more advanced applications make monitoring and controlling heat imperative. This trend, coupled with robust sales, and advancements in desktop and portable computers, is likely to continue to support the growth of temperature sensors, in the next four years.
Similarly, wearables are also attracting growing attention in the market, coupled with miniature computers that are worn as garments or accessories. These devices are embedded with temperature sensors that are enabled with environmental sensing capabilities. These embedded temperature sensors can help the smart gadgets users, in improving awareness of the environment around them. The temperature sensors embedded in wearables can also measure relative humidity and temperature (RH/T) to enable devices and their users, to understand ambient condition around them, coupled with the user's physiological information, such as skin temperature or sweating rate, which are attracting many athletes to utilize these gadgets for professional usage.
The significant advantages of these sensors are that they do not require lots of computation power. They are energy efficient, and becoming smaller and smaller with each iteration of the products released into the market, making them ideal for wearables while providing a broad range of potentially valuable applications in the future.
Rapid Factory Automation is increasing Production Efficiency of Electronics Industry
Since the idea of fourth industrial revolution, Industry 4.0, initiated at Hannover Fair, production platforms started adopting digital solution, more than ever in the history of automation. The sales of industrial robots are one of the most visible factors proving the rapid factory automation trend. According to the International Federation of Robotics (IFR), in 2016, industrial robot sales increased by 16% to 294,312 units, a new peak for the fourth year, in a row. In a recent review on the industrial robots, IFR states that between 2011 and 2016, the average robot sales increased by 12% every year, and that the number of robot installations had never increased so profoundly before. Compared to the previous decadeâs situation, between 2005 and 2008, where the average annual number of robots sold was about 115,000 units, the current situation indicates extreme growth of automation sector in the current scenario.
Adding to this, IFR also states that the primary driver of the growth, in 2016, was primarily from the electrical/electronics industry. IFR reports that the electrical/electronics industry witnessed growth over 41% in the consumption of industrial robots. IFR estimates indicate that more than 30% of the global supply of industrial robots was dedicated to electronics/electrical industry, standing next to the automotive industry, which is accountable for 35% of market share, in the automation race. This trend is maximizing the quality if thermal sensors produced every year. Compared to the production trends that existed before a few decades, the number of manufacturing errors or faulty products, at end-of-the-line in production facility, has almost fallen to zero. Such quality in thermal sensors is expected to make them more reliable over the years to come, and therefore, creating considerable demand in the market.
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Topmost List of Key-players of Temperature Sensors Market 2020:-
● Texas Instruments Incorporated ● Panasonic Corporation ● Siemens AG ● Honeywell International Inc. ● ABB Ltd. ● Analog Devices ● Inc. ● Kongsberg Gruppen ● Emerson Electric Company ● ST Microelectronics ● Microchip Technology Incorporated ● NXP Semiconductors N.V. ● Maxim Integrated Products ● Mouser Electronics ● Robert Bosch GmbH ● TE Connectivity Ltd. ● Denso Corporation ● Omron Corporation ● FLIR Systems ● Thermometris ● GE Sensing and Inspection Technologies GmbH ● Ircon Inc. (Fluke Process Instruments) ● Yokogawa Electric Corporation
The report focuses on the global market, especially in the United States, Europe, China, Japan, South Korea, North America, and India.
Also, the Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions.
The Global Temperature Sensors market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
The global Temperature Sensors market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.
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