The Temperature Sensor Market report share is estimated to be USD 5.9 billion in 2021 and expected to reach USD
8.0 billion by 2028, at a CAGR of 4.5% from 2021 to 2026.
The increasing demand for temperature sensors, in industries such as oil and gas, consumer electronics and healthcare is driving the growth of the market.Furthermore, most working environments require variable sensing ranges and resolutions, and factory floor environments can be dirty, making it difficult to differentiate between humans and other robots. There are strict regulations as well as stiff penalties surrounding robotic safety. Manufacturers are adopting sensing technology before the robots are installed to ensure compliance and create a safe environment for workers leading to higher demand for temperature sensors.However, high initial cost involved with the implementation of advanced sensorsis expected to restraint temperature sensors industry growth.
Attractive Opportunities in Temperature Sensor Market
North America is a the second largest region for the Temperature Sensor Market
North America accounts for ~27% share of theTemperature Sensor Market in 2020.The kev contributors in North America are US
Canada, and Mexico with US holding the dominant share within the region.The presence of large number of player in the region along with strona trade relations with other reaions allows North America to hold a prominent share of the Temperature Sensor Market. Industries such as consumer electronics.healthcarechemicalautomotive,oil and gas,and energy and power attribute to the high demand for temperature sensors
