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Market Overview:
The Digital Temperature Sensor Market size is estimated to reach $6.3 Billion by 2030, growing at a CAGR of 9.4% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Digital Temperature Sensor Market – By Sensor (Capacitive Temperature Sensor, Resistive Temperature Sensor, Temperature Switch, Thermostat, and Fan Controller IC), By Technology (Contact, Non-Contact), By Usage (Gas, Liquid, Air), By Application (Powertrain, Body Electronics, Smart Utility, Smart Home, Control and Automation, Medical Devices, HVAC, and Others), By End User (Automotive, Aerospace, Agriculture, Power, Utility, Oil & Gas, Mining, Healthcare, Chemical, Food & Beverage, Retail & Consumer Goods, Warehouse & Logistics, Enterprise, Residential/Consumer, Industrial, and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”
Growth in healthcare & wearable technology and Expansion in industrial automation & smart manufacturing are expected to create growth opportunities in the market during forecast period.
North America Dominated the Market in 2023:
North America accounted for the largest share of 39% of the Digital Temperature Sensor Market in 2023 followed by APAC and Europe, owing to high government investments in smart grid infrastructure and continuous up-gradation of existing infrastructure towards latest technology. With the U.S. Department of the Interior planning to allow offshore exploratory drilling in about 90% of the Outer Continental Shelf (OCS) acreage under the National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program) for 2019-2024, the oil and gas sector in the region is expected to open up new opportunities to the market.
Digital Temperature Sensor Market: Key Takeaways
Increasing Demand for IoT Sensors in Automotive Vehicles:
Rising demand for intelligent sensors in automotive sector enabling data conversion, digital processing to create a robust thermal management solution ensuring safety of critical applications is propelling the market. Growing demand for faster data processing and instantaneous reliable decision making to simplify asset monitoring solution with minimum human intervention is analyzed to significantly trigger the growth of the market during 2024-2030. In June 2023, Digital Matter launched the Hawk solution using the Nordic nRF9160 SiP, enabling cellular IoT data logging with temperature sensors. The Hawk supports LTE-M/NB-IoT connectivity, enhancing temperature monitoring capabilities Such innovations are steering the market.
Increasing Adoption of Smart Sensors in Smart Utility:
Growing demand for deployment of Advanced Metering Infrastructure (AMI) and Distribution Automation (DA) has significantly triggered the market. Increasing penetration of smart sensors in utility sector enabling transmission of data and communication with external devices to optimize power generation, transmission and distribution is poised to drive the market. Massive and quick adoption of smart meters for smart home applications is also set to steer the digital temperature sensor market. In March 2022, Honor launched Earbuds 3 Pro with integrated temperature monitoring technology. Honor's buds would include a temperature sensor combined with an AI temperature algorithm. Such product launches are augmenting the market.
For More Queries About "Digital Temperature Sensor Market " @ https://www.industryarc.com/reports/request-quote?id=19118
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Recent Developments:
- In January 2024, Microchip Technology has launched the MCP998x family of 10 automotive-qualified remote temperature sensors. The MCP998x family is one of the largest portfolios of automotive-grade multi-channel temperature sensors in the industry and is designed for 1°C accuracy at a wide operational temperature range.
- In January 2024, Melexis unveils the MLX90617, an infrared thermometer for non-contact temperature measurements in induction hob applications.
- In August 2024, AVTECH Software announced the launch of its innovative Digital Particulate & Temperature Sensor. Designed for use with AVTECH’s Room Alert monitors, this sensor provides a comprehensive solution for monitoring both airborne particulate matter (PM) and temperature, ensuring optimal indoor air quality (IAQ) and occupant health.
Digital Temperature Sensor Market: Competitive Landscape
Key companies profiled in the Digital Temperature Sensor Market are Texas Instruments Incorporated, Microchip Technology Inc., Continental AG, NXP Semiconductor N.V., Analog Devices, Inc., Sensirion AG, Robert Bosch GmbH, Melexis NV, Semiconductor Components Industries, LLC, AVTECH Software, Inc., and Others.
About IndustryARC™:
IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
Contact Us:
Mr. Venkat Reddy
IndustryARC
Email: [email protected]
USA: (+1) 518-282-4727