Temperature Sensors Market (by Bimetallic, IC and Geography) is Estimated to Reach $6.05 Billion by 2020 – New Report by MarketsandMarkets
(PRWEB) November 28, 2014 -- The report “Temperature Sensors Market by Type (Bimetallic, IC, Thermistor, RTD, Thermocouple, IR, Fiber Optic), Applications (Consumer, Power, Automotive, Petrochemicals, Aerospace & Defense, Healthcare, Industrial, & Utility) and Geography - Global Forecasts to 2020", defines and segments the temperature sensors market into various segments with an in-depth analysis and forecasting of revenues. This research report also identifies the factors driving this market, various restraints, challenges and opportunities impacting it along with the future road maps.
Temperature is the most measured parameter and plays a major role in numerous end-user segments, particularly in critical and hazardous applications. The application of temperature sensors is continuously increasing among industry end-users. Besides its traditional application in electronics, it also has application in industries such as food and beverage, and aerospace and defense. In the food and beverage industry, its scope extends to the perishable logistics industry and in aerospace and defense industry, it is used for high degree con tactless temperature measurements. These two major application segments are expected to be the biggest contributor to the temperature sensor market.
The paradigm shift of the automotive industry towards the emerging Asian economies such as China, South Korea, and India has opened new market opportunities for temperature sensors. The developed regions such as North America and Europe are dominating the temperature sensors market, in terms of new applications in food, defense, and HVAC segments. The major industry players are extending their reach by expanding geographically and collaborating with local industry players, which is driving the growth of this market in the APAC region.
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Browse 67 market data tables and 50 figures spread through 160 pages and in-depth TOC on "Temperature Sensors Market - Global Forecasts to 2020"
In the temperature sensor market, there has been an increasing trend towards non-contact sensing technologies among some of the end-user markets comprising automotive, medical, industrial, and aerospace industries. There is a clash between contact and non-contact type of temperature sensors. As the technology is becoming more advanced, the customers are seeking more accurate, reliable, and durable temperature sensors. Currently, contact temperature sensors manufacturers are facing competition from the non-contact sensor suppliers. Although contact sensors deliver cost efficiencies, the current industry trend pertaining to the demand for contactless measurement in almost all major applications is driving the growth of non-contact temperature sensors. For instance, automotive manufacturers and industry, in general are placing ever increasing demands on accurate sensor system for applications such as engine temperature measurement and climate control systems, installed within the automobiles. Contact sensors are starting to become an old-fashioned way of measuring, detecting, and sensing any particular parameter. Although they still have some historical applications, there is a growing trend among industry end-users towards adopting non-contact sensing technologies, in order to reduce replacement costs and opt for more durable temperature sensors.
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