Temperature Sensors Market – Companies operating in the market have been investing heavily in research and development activities in order to develop and enhance temperature sensor functionality. Increasing adoption of HVAC modules is expected to favorably impact the global industry. Temperature sensors are an integral part of these modules, and are used in monitoring refrigerant temperatures as well as in climate control units. Furthermore, technological advancement and reduced prices have resulted in introduction of new applications in the HVAC space.
Presently, contact type or electronic temperature sensors have dominated the market; however, competition is expected to be fierce between contact and non-contact type technology in the future. Non-contact sensors are used in high temperature applications, and IR temperature sensors accounted for significant market share in 2012. IR sensing is primarily employed in industries such as food and beverage, metals, plastic, etc.
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Growing demand for consumer electronics such as smartphones, cameras and media players make use of microprocessors, which is expected to boost market growth, since they have temperature sensing ICs. In addition, mandates related to safety in North America and Europe have acted a key driver for overall industry growth. Sensors used in applications such as automotive and consumer electronics are cost-effective as compared to those used for industrial and process control purposes. This has resulted in ongoing advancements in technologies such as IR to give rise to a cost-efficient solution.
Maturity of key end-use applications, as well as strong competition between technologies is expected to restrain the market to a certain extent over the next six years. Emergence of microelectromechanical systems (MEMS) in temperature sensing is expected to present opportunities for growth to market participant in the coming years.
This research report provides comprehensive market statistics and forecast for key segments, and provides complete industry landscape including drivers, restraints, regulatory scenario, technology trends and future opportunities. The report also provides detailed competitive landscape with company market share analysis and in-depth profiles of key market participants.
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