Expanding Applications & Technology Advancements Drive Growth in the Temperature Sensors Market, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on temperature sensors. The global market for temperature sensors is projected to reach US$7.2 billion by 2020, driven by technology advancements, recovering automobile production, and proliferation of consumer electronic devices.

Temperature Sensors: A Global Strategic Business Report

Follow us on LinkedIn - Temperature sensors find use in a wide range of applications that require continuous monitoring, maintenance and control of temperature at a desired level. Thermal protection and management represents a crucial function in virtually all electronic devices, mechanical equipment and industrial processes. Industrial sector, including heavy industrial production and manufacturing facilities, and process industries such as petrochemical chemical, food & processing units and refineries, represent major end-use markets for temperature sensors. Consumer electronics industry ranks as another major end-use market, where Temperature sensing circuitry is used for thermal management of electronic devices, such as, computers, and mobile computing devices. Automobiles too have tremendous potential for the use of temperature sensors in enhancing the engine performance and improving passenger safety and comfort. Expanding applications of temperature sensors in food & processing industries, pulp & paper, water and wastewater treatment are helping drive growth in the market.

Key factors spurring adoption of temperature sensors in industrial and manufacturing plants include focus on energy efficiency, optimum asset utilization, and the growing preference for automated process control solutions. The trend towards automated process monitoring and control is especially benefiting demand for smart temperature sensors featuring self-diagnostic and communication capabilities. The market is also poised to benefit from technology developments, which render temperature sensors more accurate, reliable, efficient, versatile, and cost effective. Thermocouple sensors and resistance temperature detector (RTD) are growing in popularity encouraged by benefits such as ease of use, tough design, low cost and accurate temperature measurement capabilities. Temperature sensors in smaller form factors will continue to gain significant traction given the trend towards miniaturization of electronic devices. Development of MEMS based temperature sensors and use of nanotechnology for their production will guide future innovation and growth in the market.

As stated by the new market research report on Temperature Sensors, Europe represents the largest regional market worldwide. Asia-Pacific ranks as the fastest growing market with sales projected to grow at a CAGR of about 7.8% over the analysis period. Demand in the region is expected to strengthen guided by factors such as increase in manufacturing investments and productivity in developing Asian countries as a result of growth in Asia-to-Asia trade amid flattening trade with developed countries, and stable automobile production trends. The resulting new plant establishments, capacity expansions, and automation of process monitoring and control will positively benefit demand in the market.

Major players in the global market include NXP Semiconductors N.V., Analog Devices, Atmel Corporation, Measurement Specialties Inc., Calex Electronics Limited, Maxim Integrated Products Inc., E+E ELEKTRONIK GES.M.B.H, Emerson Climate Technologies Inc., Esterline Technologies Corporation, Honeywell International, Inc., Innovative Sensor Technology, Panasonic Corporation, Integrated Device Technology, Inc., BLUECHIIP LIMITED, Micro-Epsilon, Microchip Technology, Inc., OMEGA Engineering Limited, Raytek Corporation, Sensata Technologies Inc., Siemens AG, STMicroelectronics NV, and Texas Instruments Incorporated, among others.

The research report titled “Temperature Sensors: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Global market is also analyzed by following products segments – Thermocouple, Resistance Thermometers, Thermistors, Integrated Circuit Temperature Sensors, and Others (Fiber Optic Temperature Sensors, and Infrared Thermometers, among others).

For more details about this comprehensive market research report, please click here

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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