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Global Temperature Sensor Market Will Reach USD 6.26 billion by 2022: Zion Market Research

According to the report, global automotive paints market was valued at USD 18.5 billion in 2016, is expected to reach USD 25.7 billion by 2022 and is anticipated to grow at a CAGR of 5.2% between 2016 and 2022.

/EIN News/ -- Sarasota, FL, July 31, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Temperature Sensor Market (Thermistor, Resistive Temperature Detector, Thermocouple, Infrared Temperature Sensor, Fiber Optic Temperature Sensor, Bimetallic Temperature Sensor and Others) Market for Food and Beverage, Aerospace and Defense, Chemicals, Oil & Gas, Consumer Electronics, Automotive, Healthcare and Others End-User: Global Industry Perspective, Comprehensive Analysis And Forecast, 2016 - 2022”. According to the report, global temperature sensor market was valued at around USD 4.81 billion in 2016 and is expected to generate revenue of USD 6.26 billion by end of 2022, growing at a CAGR of 4.50% between 2017 and 2022.  

A temperature sensor is a device, typically, a thermocouple or RTD that provides for temperature measurement through an electrical signal. A thermocouple (T/C) is made from two dissimilar metals that generate an electrical voltage in direct proportion to changes in temperature. In general, a temperature sensor is a device which is designed specifically to measure the hotness or coldness of an object. LM35 is a precision IC temperature sensor with its output proportional to the temperature (in °C). With LM35, the temperature can be measured more accurately than with a thermostat. It also possesses low self-heating and does not cause more than 0.1 °C temperature rise in still air. The operating temperature range is from -55°C to 150°C. 

Browse through 29 Market Tables and 25 Figures spread through 110 Pages and in-depth TOC on "Global Temperature Sensor Market: By Type, Size, Share, Analysis and Forecast 2016 – 2022”.

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Rising importance of advanced and portable health care equipment and growing demand for high-performance sensor instruments are expected to be the major drivers for the global temperature sensor market. Further, increase in the demand of consumer electronics are expected to support the temperature sensor market growth in the near future. Nonetheless, the rising application areas globally are expected open new avenues for the market growth over the next few years. Moreover, increasing government initiatives to improve the medical and healthcare industry in North America is also expected to drive the temperature sensors market.

A range of end-user segments of temperature sensor market includes food and beverage, aerospace and defense, chemicals, oil & gas, semiconductor and electronics, automotive, healthcare and others. Food and beverage segment is one of the leading segments of temperature sensor market. Consumer electronics, automotive, healthcare is other key outlets of the market and expected to exhibit significant growth within the forecast period. The thermocouple is one of the dominating segments of this market.  Thermocouples are used to generate electricity. The thermistor is another key outlet for temperature sensor market. 

Browse the full "Temperature Sensor Market (Thermistor, Resistive Temperature Detector, Thermocouple, Infrared Temperature Sensor, Fiber Optic Temperature Sensor, Bimetallic Temperature Sensor and Others) Market for Food and Beverage, Aerospace and Defense, Chemicals, Oil & Gas, Consumer Electronics, Automotive, Healthcare and Others End-User: Global Industry Perspective, Comprehensive Analysis And Forecast, 2016 - 2022" report at https://www.zionmarketresearch.com/report/temperature-sensor-market

North America dominated the temperature sensors market with around 41% share in terms of revenue, due to the high demand of consumer electronics equipment. In addition, technological advancement in smartphones also increases the demand of temperature sensor. Almost all smartphones currently available on the market have built-in temperature sensors for measuring the temperature of the components such as CPU and battery. Affordability of purchasing devices due to the strong economy and growing range of new services & applications in wireless communication increases the adoption of electronic devices such as smartphones which simultaneously affects the temperature sensor market positively. The healthcare facilities in North America are very well developed as compared to other regions. Therefore, booming healthcare industry also drives the market at a fast pace.

Asia Pacific and Europe closely follow the North America. Due to the increasing population coupled with rising adoption of the electronic device the demand of temperature sensor increases. China and India are the two leading countries having largest electronics markets in the world. Manufacturing of low-cost smartphones, growing healthcare industry, oil and gas industry are the main reasons behind the increasing demand of temperature sensor in the Asia Pacific. Asia pacific is the fastest growing region for this market. Rapid economic development in the region, increasing citizen prosperity and hence affordability of automation services is playing a key role in the growth of this market.

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Latin America, Middle East, and Africa are likely to have moderate growth for temperature sensors market during the estimated five years. Shifting technological preferences in the region coupled with increasing demand for automation in every industry is expected of fuel the temperature sensors market within the forecast period.

Key participants in the temperature sensor market are ABB Ltd., General Electric Co., Infineon Technologies AG, STMicroelectronics N.V., Panasonic Corp., ON Semiconductor, Maxim Integrated Products Inc., Honeywell International Inc., Microchip Technology Inc., Siemens and Texas Instruments Inc. 

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This report segments the global temperature sensor market as follows:

Global Temperature Sensor Market: Product Segment Analysis

  • Thermistor
  • Thermocouple
  • Infrared Temperature Sensor
  • Fiber Optic Temperature Sensor
  • Resistive Temperature Detector
  • Bimetallic Temperature Sensor 
  • Others

Global Temperature Sensor Market: End-User Segment Analysis

  • Food and Beverage
  • Aerospace and Defense
  • Chemicals
  • Oil & Gas
  • Consumer electronics
  • Automotive
  • Healthcare
  • Others

Global Temperature Sensor Market: Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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