LONDON, March 7, 2016 /PRNewswire/ -- "The increasing demand for temperature sensors among industrial end users would drive the temperature sensors market"
The temperature sensors market is expected to grow from USD 5.13 billion in 2016 to USD 6.79 billion by 2022, at estimated CAGR of 4.8% between 2016 and 2022. The temperature sensors market is primarily driven by factors such as high demand for temperature sensors among industrial end users, growing concerns toward security and surveillance, robust demand for consumer electronics products, developing automotive industry in emerging markets, and government initiatives toward environment & safety norms.
"Thermocouple-based temperature sensors to gain maximum traction during the forecast period"
The market for thermocouple-based temperature sensors holds the largest share of this market. Furthermore, owing to the increasing demand for measuring and controling sensors in industrial sectors on a global basis, temperature sensors devices are expected to gain traction and grow at a stable growth rate during the forecast period. The temperature sensors is expected to have a high demand from discrete industry end users such as semiconductors, automotive, and healthcare segment among others during the forecast period.
"North America expected to lead the global temperature sensors market during the forecast period (2016–2022)"
The North American market is expected to hold the major market share between 2016 and 2022 owing to the growing demand for smart homes and in-home weather stations in the U.S., rising usage of temperature sensor products by scientific research institutions for the study of environmental changes across North America, and the presence of major temperature sensors manufacturers in the region. The APAC market is expected to grow at the highest CAGR between 2016 and 2022.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of the profiles of primary participants is given below:
- By Company Type: Tier 1 – 42 %, Tier 2 – 20%, and Tier 3 – 38%
- By Designation: C-Level – 35%, Director Level – 25%, Others – 40%
- By Region: North America – 42%, Europe – 21%, APAC – 18%, RoW – 19%
The key temperature sensors vendors profiled in the report are:
1. Texas Instruments Incorporated (U.S.)
2. Analog Devices, Inc. (U.S.)
3. ABB Ltd. (Switzerland)
4. Honeywell International Inc. (U.S.)
5. Maxim Integrated Products Inc. (U.S.)
6. Siemens AG (Germany)
7. Danaher Corporation (U.S.)
8. Kongsberg Gruppen (Norway)
9. TE Connectivity Ltd. (U.S.)
10. Emerson Electric Company (U.S.)
11. Panasonic Corporation (Japan)
12. General Electric Company (U.S.)
13. STMicroelectronics N.V. (Switzerland)
14. Microchip Technology Incorporated (U.S.)
15. NXP Semiconductors N.V. (Netherlands)
The report would help the market leaders/new entrants in this market in the following ways:
1. This report segments the temperature sensors market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals, segments, and regions.
2. The report would help stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders to better understand the competitor and gain more insights to enhance their position in the business.
4. The competitive landscape section includes competitor ecosystem, new product develpoments, partnerships, and mergers and acquisitions.
5. It helps to gain detailed understanding of the Porter's five forces analysis of the market. All the five major factors in these markets have been quantified using the internal key parameters governing each of them.
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