Temperature Sensors Market Size, Share, Forecast, & Trends Analysis by Type (Contact Sensors (Thermistors, Thermocouples, RTDs, Others), Non-contact Sensors), Output (Analog, Digital), End-use Industry (Automotive, Healthcare, Consumer Electronics, Oil & Gas, Others), Geography - Global Forecast to 2031

Temperature Sensors Market Size & Forecast

The Temperature Sensors Market is expected to reach $10.5 billion by 2031, at a CAGR of 5.1% from 2024 to 2031. The growth of this market is driven by the increasing utilization of temperature sensors in building automation, the growing demand for temperature sensors within the automotive industry, and the rising integration of sensors in smart devices. Moreover, the rising integration of temperature sensors in wearables and the increasing automation of industrial processes are expected to create market growth opportunities. However, fluctuations in raw material prices may restrain market growth. Additionally, stringent performance requirements in advanced applications pose challenges to the market's growth.

Temperature Sensors Market Growth Drivers

• Rising Utilization of Temperature Sensors in Building Automation

As consumer expectations grow and developers seek greater profitability, buildings are becoming smarter, driven by advancements in technology. Traditional systems like heating, ventilation, and air-conditioning (HVAC), security, and lighting are being enhanced with new technologies aimed at improving comfort, efficiency, environmental sustainability, and profitability.

Temperature sensors in building applications are used to measure and monitor the temperature in HVAC systems within buildings. These sensors play a crucial role in maintaining optimal temperature levels for comfort and energy efficiency. They are commonly installed in air conditioning, heating, and ventilation systems to ensure that the desired temperature is achieved and maintained.

With the increasing focus on energy efficiency and sustainability, the demand for HVAC systems that can effectively control and optimize temperature levels is likely to grow. This will drive the demand for temperature sensors that can accurately measure and regulate temperature.

• Growing Demand for Temperature Sensors Within the Automotive Industry

Temperature sensors play a crucial role in the automotive industry, measuring temperatures at various points within vehicles. They typically utilize thermistors (thermally sensitive resistors), thermocouples, resistance temperature detectors (RTDs), or infrared devices. These sensors are employed in numerous automotive applications. Additionally, temperature and humidity sensors are integrated into HVAC systems to prevent windshield fogging and facilitate energy management.

Automotive manufacturers worldwide are increasingly prioritizing vehicle electrification. With a demand for faster charging and extended range on a single charge, the electrical and electronic circuits within vehicles must handle high power efficiently. This necessitates robust thermal management solutions to ensure the continuous operation of safety-critical applications, which is anticipated to have a positive effect on the automotive temperature sensors market. Moreover, the rising adoption of autonomous vehicles is expected to further drive the market's growth, as these vehicles rely on sensors like coolant temperature sensors or intake air temperature sensors.

Temperature Sensors Market Trends

• Miniaturization of Sensors

A key trend in sensor development is the design of portable and miniaturized sensors, offering wide-ranging benefits such as simplified measurement systems, cost-effective fabrication, and remote sensing capabilities. Smaller sensors can be placed closer to heat sources, enabling the monitoring of temperature peaks within thermal interface material layers found in power electronics, microprocessors, or batteries. With a size of less than 1.0 mm x 0.6 mm and a low height of 50 µm, these sensors can be positioned even in the smallest spaces available. This reduction in thermal diffusion lengths leads to significantly faster temperature detection. Additionally, their high measuring accuracy of ±0.1 °C, combined with low thermal mass, enables rapid and precise temperature sensing.

Miniaturization is gaining significance across various sectors, including wearables, automotive, and manufacturing. In response, numerous market players are focusing on miniaturizing sensors. For instance, in June 2022, YAGEO Nexensos (Germany) and accensors (Germany) announced plans to collaborate on developing solutions to support the miniaturization trend. Through this collaboration, the companies aim to integrate precise temperature sensor elements into highly integrable film sensor elements and application-specific film sensors.

Temperature Sensors Market Opportunity

• Rising Integration of Temperature Sensors in Wearables

The growing trend of smart living and the proliferation of connected devices is expected to drive the demand for temperature sensors in wearable devices. Furthermore, the rising awareness of fitness and health across all age groups has been a key factor propelling the growth of the wearable temperature sensors market. Additionally, the increasing trend toward remote care monitoring is fueling the demand for temperature sensors integrated into wearable devices.

Moreover, the integration of temperature sensors into wearable devices by several manufacturers is anticipated to create opportunities for the growth of the temperature sensors market.

Some of the recent developments from key market players are as follows:

• In September 2022, Apple Inc. (U.S.) launched Apple Watch Series 8. The new watch encompasses two temperature sensors that enable advanced features for women's health and Crash Detection for severe car crashes.

• In April 2021, Timex Group USA, Inc. (U.S.) launched its health monitoring smartwatch in India. The wearable comes with numerous health and fitness features, including telemedicine, a temperature sensor to monitor the body's temperature, and a SpO2 monitor.

Temperature Sensors Market Analysis: Key Findings

By Type: in 2024, the Contact Sensors Segment to Dominate the Temperature Sensors Market

Based on type, the temperature sensors market is segmented into contact sensors and non-contact sensors. In 2024, the contact sensors segment is expected to account for the larger share of 83.0% of the global temperature sensors market. This segment's large market share can be attributed to the growing adoption of contact sensors for detecting solids, liquids, or gases across a broad temperature range and the increasing utilization of these sensors in medical, pharmaceutical, and food processing applications for temperature monitoring and control. In response to this increasing utilization, market players are increasingly focusing on product development initiatives. For instance, in September 2023, TDK Corporation (Japan) launched its new NTCWS series of NTC thermistors featuring Au wire bonding.

However, the non-contact sensors segment is projected to register a higher CAGR during the forecast period. This segment's growth can be attributed to the increasing adoption of non-contact sensors in industries like metals, minerals, paper, and plastics. These sensors offer benefits such as accurate temperature determination without physical contact and rapid response times.

By Output: in 2024, the Digital Segment to Dominate the Temperature Sensors Market

Based on output, the temperature sensors market is segmented into analog and digital. In 2024, the digital segment is expected to account for the larger share of 71.0% of the global temperature sensors market. The large share of this segment can be attributed to the increasing demand for temperature sensors with low power consumption and high accuracy and the rising utilization of digital sensors across scientific, medical, and aerospace applications, as well as in test and measurement equipment and industrial automation applications. Moreover, the digital segment is projected to register a higher CAGR during the forecast period.

By End-use Industry: in 2024, the Consumer Electronics Segment to Dominate the Temperature Sensors Market

Based on end-use industry, the temperature sensors market is segmented into chemicals, oil & gas, consumer electronics, energy & power, healthcare, automotive, metals and mining, food & beverages, aerospace & defense, and other end-use industries. In 2024, the consumer electronics segment is expected to account for the largest share of the global temperature sensors market. The large market share of this segment can be attributed to the growing utilization of temperature sensors in consumer electronics to monitor and regulate the heat generated within devices, thereby preventing overheating and potential damage. For instance, in March 2023, Amazon.com, Inc. (U.S.) launched the 5th generation of Echo Dot in India, featuring enhanced audio, motion detection, temperature sensing capabilities, and tap gesture controls.

However, the automotive segment is projected to register the highest CAGR of 7.0% during the forecast period. The growth of this segment can be attributed to stringent emission regulations for automobiles, the proliferation of electric and autonomous vehicles, and the increasing utilization of temperature sensors for monitoring engine coolant, air intake, and ambient air temperatures. In response to this increasing utilization, market players are increasingly focusing on product development initiatives. For instance, in January 2024, Microchip Technology Inc. (U.S.) launched the MCP998x family of 10 automotive-qualified remote temperature sensors.

Geographical Analysis

In 2024, Asia-Pacific is expected to account for the largest share of 38.0% of the temperature sensors market. Asia-Pacific's significant market share can be attributed to the rising demand for cost-effective and highly efficient temperature sensors across various sectors, including chemicals, oil & gas, consumer electronics, and healthcare. Additionally, factors such as increasing investments in industrial automation, rising per capita income, government initiatives promoting energy efficiency, and the growth in the automotive industry contribute to the growth of this regional market. Moreover, the market in Asia-Pacific is projected to register the highest CAGR of 6.5% during the forecast period.

Temperature Sensors Market: Key Companies

The report offers a competitive analysis based on an extensive assessment of the leading players' product portfolios and geographic presence and the key growth strategies adopted by them over the past 3–4 years. Some of the key players operating in the temperature sensors market are Texas Instruments Incorporated (U.S.), Panasonic Holding Corporation (Japan), Siemens AG (Germany), Honeywell International Inc. (U.S.), ABB Ltd.(Switzerland), Analog Devices, Inc. (U.S.), General Electric Company (U.S.), Kongsberg (Norway), Emerson Electric Co. (U.S.), STMicroelectronics (Switzerland), Microchip Technology Inc. (U.S.), NXP Semiconductors (Netherlands), Robert Bosch GmbH (Germany), TE Connectivity (Switzerland), and Omega Engineering, Inc.(U.S.).

Temperature Sensors Industry Overview: Latest Developments from Key Industry Players

• In September 2023, E+E Elektronik (Austria) launched its most powerful humidity and temperature sensor for industrial applications. This cutting-edge device integrates decades of expertise from the Austrian sensor specialist in humidity measurement with the stringent quality requirements of industrial metrology.

• In January 2023, Disruptive Technologies (Norway), a leading provider of wireless sensor technology, launched its latest innovation at CES 2023: a revolutionary wireless temperature sensor tailored for the cold chain market.

• In December 2022, OMEGA Engineering (U.S.) launched the newest iteration of its HANI Clamp-On Temperature Sensor: the HANI Clamp Sensor, specifically engineered for plastic pipe applications.

Temperature Sensors Market Research Summary:

Key questions answered in the temperature sensors market report: