According to the latest report by IMARC Group, title “ Temperature Sensors Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026.’The global temperature sensors market reached a value of US$ XX Billion in 2020. Temperature sensors refer to electronic devices that are generally used to measure temperature. They convert the measured input data into electronic data to detect any physical changes to the temperature generated by a system or an object. Some of the commonly available temperature sensors include thermistors, resistance temperature detectors (RTDs), thermocouples and temperature probes. They are widely installed in medical devices, automobiles, cooking appliances and computers.
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The global market is primarily driven by the widespread adoption of temperature sensors across the oil and gas industry. They are increasingly used in flare systems, wellhead and chemical tanks and pipelines to control the warming of fuel gases and maintain safe working conditions. Moreover, the rising deployment of temperature sensors in several medical devices, including thermodilution cardiac catheters and ventilator flow tubes, is also providing a boost to the market growth across the globe. Some of the other factors contributing to the market growth include rapid technological advancements and the increasing demand for consumer electronics and heating, ventilation and air conditioning (HVAC) appliances. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2021-2026.
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