Temperature Sensor Market Size By Product (Contact {Temperature Sensors ICs, Resistive Temperature Detectors, Thermistors, Thermocouples, Bimetallic Temperature Sensors}, Non-Contact {Infrared, Fiber-Optics}), By Output (Analog, Digital {Single-Channel, Multi-Channel}), By Application (Chemical, Oil & Gas, Consumer Electronics, Healthcare, Automotive), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 - 2032
Temperature Sensor Market is anticipated to witness growth through 2032 owing to the rising popularity of smartwatches among consumers. Besides, temperature sensors are highly affordable, precise, and extremely reliable in various R&D experiments. They are desirable for both embedded and surface mount applications, given their faster response time because of their lower thermal mass.
In addition, the rising demand for monitoring body temperature with the help of wearable devices will further propel the market growth. Various companies are working towards developing and deploying superior temperature monitoring solutions in their electronic devices, bolstering the market demand. For instance, Apple is planning to instill body temperature monitoring as a feature in its upcoming Apple Watch Series 8. Likewise, the Samsung Galaxy Watch 5 may also offer a similar feature.
Overall, the temperature sensor market is segmented in terms of product, output, application, and region.
Considering the product, the temperature sensor ICs segment was valued at over USD 1 billion in 2022. The growth can be accredited to the rising deployment of these sensors in home appliances, portable computers, and medical devices. Besides, the wide application of temperature IC sensors for monitoring and controlling home temperature and regulating the CPU temperature is anticipated to support its adoption over the foreseeable future.
Based on the output, the analog segment will grow considerably between 2023-2032. Analog temperature sensors boast the ability to enhance system performance, dependability, and product quality in various applications, supporting their replacement in thermistor solutions.
By application, the chemical industry held over USD 1.5 billion market share in 2022. The market growth can be credited to the wide application of temperature sensors in the chemical industry. Besides, technologies such as non-invasive measurement and IoT, deployed with temperature sensors in process plants, enhance safety and lower the maintenance and installation costs.
Regionally, the North America temperature sensor market was valued at over USD 2 billion in 2022 and will hold a substantial market share between 2023-2032. Factors such as rising investments in smart home infrastructure, rapid adoption of advanced technologies, and ongoing innovations in sensor technology would prompt the production adoption. Additionally, the growing trend of automation in industries where data is collected via sensors and monitored regularly will further support the regional outlook by 2032.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook