The global temperature sensor market is growing at a significant rate due to the increasing demand for temperature sensors in various industries such as automotive, healthcare, and food & beverage. The market is expected to reach USD 11.5 billion by 2030, growing at a CAGR of 5% during the forecast period (2022-2030).

One of the major drivers of the global temperature sensor market is the increasing demand for temperature sensors in the automotive industry. Temperature sensors are used in automobiles to monitor the temperature of engine oil, coolant, and other fluids. They are also used to monitor the temperature of various components in the vehicle such as the battery, tires, and brakes. The increasing demand for electric vehicles is also driving the growth of the temperature sensor market.

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Another major driver of the market is the increasing demand for temperature sensors in the healthcare industry. Temperature sensors are used in medical devices such as thermometers, blood glucose monitors, and insulin pumps. They are also used in hospitals and clinics to monitor the temperature of patients.

The global temperature sensor market can be segmented based on type, application, and region. Based on type, the market can be segmented into contact and non-contact temperature sensors. Based on application, the market can be segmented into automotive, healthcare, food & beverage, and others. Based on region, the market can be segmented into North America, Europe, Asia-Pacific, and the Rest of the World.

North America is expected to dominate the global temperature sensor market during the forecast period due to the presence of major players in the region. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period due to the increasing demand for temperature sensors in various industries such as automotive, healthcare, and food & beverage.

Some of the key players in the global temperature sensor market include Texas Instruments Incorporated, Honeywell International Inc, Murata Manufacturing Co., Ltd., STMicroelectronics, NXP Semiconductors, Siemens, ABB, Analog Devices, Inc., Emerson Electric Co., and Maxim Integrated.

Source: VynZ Research