The temperature sensor market was valued at USD 5.29 Billion in 2017 and is expected to reach USD 7.48 Billion by 2023, at a CAGR of 5.9% during the forecast period. The base year considered for the study is 2017, and the forecast period considered is 2018–2023. The objective of the report is to provide a detailed analysis of the temperature sensor market by product type, end-user industry, and region. The report forecasts the market size, in terms of value, of various segments with regard to 4 main regions North America, Europe, APAC, and RoW. It strategically profiles the key players and comprehensively analyzes their rankings and core competencies in the temperature sensor market, and details the competitive landscape for these market leaders.

The temperature sensor market in Asia Pacific is expected to grow at the highest CAGR during the forecast period as APAC has a strong demand for consumer equipment, including portable healthcare electronics and white goods. Increasing industrial automation, especially in automotive and food & beverages sectors, will generate demand for temperature sensors in APAC.

Major players operating in the temperature sensor market include ABB (Switzerland), Texas Instruments (US), Analog Devices (US), Honeywell International (US), Amphenol (US), Global Mixed Mode Technology (Taiwan), Integrated Device Tecgnology (US), Kongsberg Gruppen (Norway), Microchip Technology (US), ON Semiconductor (US), Endress+Hauser (Switzerland), Okazaki Manufacturing Company (Japan), Yamari Industries (Japan), STMicroelectronics (Switzerland), TE Connectivity (Switzerland), Gunther GmbH Temperaturmesstechnik (Germany), and Omega Engineering (US).

Contact-type temperature sensors comprise thermocouple, RTD, thermistor, temperature sensor IC, and bimetallic temperature sensor. These are widely used in industries such as chemicals, consumer electronics, oil & gas, energy & power, and automotive, owing to their low cost, wide temperature range, and high accuracy. The rising adoption of temperature sensors in automotive, chemicals, and consumer electronics sectors is the major driving factor for the market. Moreover, it is expected that the growth of contact-type temperature sensors will be driven by wearables, smartphones, and other consumer electronics devices.

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