The Temperature Sensors Market size is estimated at USD 8.80 billion in 2024, and is expected to reach USD 11.94 billion by 2029, growing at a CAGR of 6.28% during the forecast period (2024-2029).
Temperature sensors employed using IoT connectivity are expected to speed up owing to the increasing need for COVID-19 testing and screening. Semtech and Polysense Technologies collaborated to develop temperature monitoring devices for a human body based on Semtech's LoRa LPWAN. The company's temperature sensors would offer frontline healthcare workers real-time data for faster screening of individuals with a high temperature.
The competitive rivalry is high in this market, owing to the presence of many players operating in the market, such as Honeywell, Texas Instruments, and STMicroelectronics, among other regional and local manufacturers. Continuous product upgradation and industry convergence drive the market towards highly differentiated offerings.
In December 2022, OMEGA Engineering announced the launch of the latest version of its HANI Clamp-On Temperature Sensor: the HANI Clamp Sensor is explicitly designed for plastic pipe applications. The Sensor precisely measures the temperature of media inside a pipe in seconds without ever breaching the pipe.
In July 2022, Apple introduced temperature sensors in its Apple Watch. The company aims to inform the wearer if they have a fever due to a higher-than-normal body temperature.
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