The study reveals that temperature sensors is trending in North America region. The global temperature sensors market is expected to witness a high growth in the coming years. However, the temperature sensors has its applications including in Food industries, Petrochemical, oil and energy industries are deploying temperature for production and monitoring to maintain consistency and quality. Moreover, the increasing focus on workplace safety is driving the deployment of temperature sensors for work floor monitoring. Consumer electronics are also expected to drive the demand for temperature sensors. Intense competition in the consumer electronics industry is pushing OEMs to offer new features in devices, are driving the growth temperature sensors.
The study indicates that the spiraling demand for environment-friendly and low cost temperature sensors is creating a large scope for small players to venture into the market. However, in 2016, the top six players commanded less than 20% of the global Temperature Sensors Market. Among these, Texas Instruments Inc., Honeywell International Inc., and General Electric Company were the top three players in the same year. These players are aiming at improving research and development facilities along with continuous innovation to introduce sensors that are in line with the changing requirements of end-use industries.
The Temperature Sensors Market is growing rapidly over 4.8% of CAGR and is expected to reach at USD $~5.93 Billion by the end of forecast period.
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The global Temperature sensors market has been segmented on the basis of product types, alloys used, applications, end -users and region.
Temperature sensors Market by Product Types:
Temperature sensors Market by Alloy Type:
Temperature sensors Market by Applications:
Temperature sensors Market by Regions:
The prominent players in the Temperature sensors Market are – Siemens A G (Germany), Stmicroelectronics N.V. (Switzerland), TE Connectivity (Switzerland), Ultra Electronics Holdings Plc. (U.K), UTC Aerospace Systems (U.S), Analog Devices Inc. (Us), Texas Instruments Inc. (Us), Maxim Integrated Products Inc. (Us), Honeywell International Inc. (U.S), ABB Limited (Switzerland), Emerson Electric Corporation (Us) among others.
The regional analysis of Temperature sensors market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. North America region is dominating the global temperature sensor market and accounted for a largest market share of close to 40%. The Key Vendors such as Honeywell International, Texas Instruments, NXP Semiconductors, Panasonic and many more are the major player in this market. Europe market in 2016, owing to major Temperature sensors manufacturing companies based out here. This region is expected to grow further in the coming years of the Temperature sensors market. Asia Pacific will emerge as the fastest growing region for temperature sensors market due to increasing demand for high performance sensors. China and India will be contributing the most in temperature sensors market.
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