NEW YORK, July 29, 2015 /PRNewswire/ -- The temperature sensors market is expected to increase to $5.49 billion by 2018 at a CAGR of 5.48% over the period 2014-2020. Temperature sensing has been gaining importance, particularly in R&D and industrial settings, giving rise to high demand for temperature sensors. 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. Even the technological advancements and reduced prices have resulted in introduction of new applications in the HVAC space.
Growing demand for consumer electronics such as smartphones, cameras and media players make use of microprocessors, which is expected to boost market growth, as they have temperature sensing ICs. Mandates related to safety in North America and Europe has acted as a key driver for overall industry growth. Temperature controls are essential for manufacturing, handling and storing of medical equipment and drugs. They are increasingly used in communication industry with growth in handheld communication devices. Asia Pacific is expected to be the key regional temperature sensors market over the forecast period.
The Global Temperature Sensors Market is segmented on the basis of Type (Bimetallic Sensor, Thermistor Sensors, RTD, Thermocouple Sensors, IR Sensors, Fiber Optic Sensors, and Others), Industry Consumer Electronics, Power Generation, Automotive, Petrochemical, Aerospace & Defense, Healthcare, Industrial, and Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America).
This report describes a detailed study 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. It also covers the market landscape of these players which includes the key growth strategies, geographical footprint, and competition analysis.
The report also considers key trends that will impact the industry and profiles over 10 leading suppliers of Temperature Sensors Market. Some of the top companies mentioned in the report are Texas Instruments (U.S.), STMicroelectronics (The Netherlands), Honeywell International (U.S.), Infineon Technologies AG (Germany), Freescale semiconductor Inc. (U.S.), and Maxim Integrated Products Inc. (U.S.) and among others.
What the report offers
1. Market Definition for Temperature Sensors along with identification of key drivers and restraints for the market.
2. Market analysis for the Global Temperature Sensors Market, with region specific assessments and competition analysis on a global and regional scale.
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4. Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5. Identification and analysis of the Macro and Micro factors that affect the Global Temperature Sensors market on both global and regional scale.
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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