April 03, 2024 02:58 ET | Source: Research and Markets Research and Markets
Dublin, April 03, 2024 (GLOBE NEWSWIRE) -- The "Temperature Sensors: Global Markets" report has been added to ResearchAndMarkets.com's offering. pt100 temperature sensor 2 wire
The global market for temperature sensors is expected to grow from USD 7.3 USD in 2023 to USD 9 USD by the end of 2028, at a compound annual growth rate (CAGR) of 4.30% from 2023 through 2028.
The report provides an overview of the temperature sensors global market value and volume and analyzes its trends. Using 2022 as the base year, the report provides estimated market data for the forecast period from 2023 through 2028. Revenue forecasts for this period are segmented by technology type, industry, and geographical region. It also highlights major trends and challenges that affect the market, concluding with an analysis of the vendor landscape and including detailed profiles of major players in the global temperature sensors market.
Microtechnology has revolutionized the electronics industry, and miniaturization has now become a standard part of any system. Industrial requirements have increased, indicating room for growth in sensor usage. Automotive safety markets have reacted swiftly, creating demand for temperature sensors.
Technological Advancements and Applications Temperature sensors have become smarter with the introduction of microcontrollers, wireless communication, and other smart functions. The demand for these sensors is growing steadily; so is the demand for temperature meters working in harsh environments. Over the years, the sensors have evolved in terms of sensitivity, reliability, compactness, and versatility as a consequence of the ever-growing need for enhanced technology. An overall trend away from contact technologies toward radiation technologies can be observed, especially in high-temperature applications. Wireless sensors are also advancing, especially for improving HVAC systems in commercial buildings. Market Dynamics and Growth Factors Major drivers of the temperature sensor market include the growing demand for smart connected devices, industrial and home automation devices, and an increase in the development of connected and autonomous vehicles. Pricing and the maturity of critical end-user segments act as restraints to this market, whereas advances in MEMS sensors (micro-electromechanical systems sensors) and nanotechnology applications present future opportunities.
Chapter 4 Emerging Technologies and Developments
Chapter 7 Sustainability in Temperature Sensors Industry: An ESG Perspective
For more information about this report visit https://www.researchandmarkets.com/r/gwt02o
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