Market Overview:

The global Temperature Sensor Market is projected to reach $10.5 billion by 2030, growing at a CAGR of 4.4% from 2024 to 2030. The rise of IoT-driven sensing technologies, coupled with the demand for integrated temperature and humidity sensors that offer high accuracy with low power consumption, is driving market growth. Temperature sensors are increasingly being utilized in various sectors, including automotive, industrial automation, healthcare, and consumer electronics, to enable real-time monitoring, prevent equipment failure, and optimize operational efficiency.

Regional Insights

The Asia-Pacific (APAC) region is expected to witness the fastest growth, with a CAGR of 11.5% from 2024 to 2030, driven by high investments in industrialization and digitalization. APAC's industrial growth, especially in China, Japan, and India, is fueling the demand for smart sensors across sectors such as automotive, utility, and healthcare.
In contrast, North America is projected to hold a significant market share of 37.1% by 2030, owing to high government investments in smart grid infrastructure and technological advancements in oil and gas exploration. The ongoing efforts to upgrade the region's energy infrastructure and implement smart utility solutions are contributing to this dominance.

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Scope of the Report: 

Report Metric 

Details 

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

4.4%

Market Size in 2030

$10.5 billion

Segments Covered

By Sensor, By Technology, By Usage, By Type, By Application, By End-User and By Region

Geographies Covered

North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World (Middle East, and Africa).

 

       1.   Texas Instruments Incorporated

2.   Microchip Technology Inc.

3.   Continental AG

4.   NXP Semiconductor N.V.

5.   Analog Devices, Inc.

6.   Sensirion AG

7.   Robert Bosch GmbH

8.   Melexis NV

9.SemiconductorComponents Industries, LLC

10.   AVTECH Software, Inc.


Recent Developments:

  • In June 2023, Digital Matter launched the Hawk solution, an IoT-based system using Nordic nRF9160 SiP for real-time temperature monitoring with LTE-M/NB-IoT connectivity, enhancing industrial temperature control applications.
  • In November 2022, Sciosense introduced the ENS21x family of high-performance digital temperature and humidity sensors, catering to industries requiring accurate environmental monitoring.

Temperature Sensor Market: Competitive Landscape

The Temperature Sensor market is competitive, with key players focusing on product innovation, strategic partnerships, and geographical expansion. Major companies include: 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.

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