Temperature Sensor Market Quantitative Analysis, Current and Future Trends

The soaring sales of vehicles, especially in India, South Korea, and China, will accelerate the temperature sensor market at a CAGR of 4.4% during 2020–2030. The market value stood at $6.9 billion in 2019, and it is projected to reach $11.1 billion in 2030. Moreover, the food and beverage industry is expected to adopt these sensors at the highest rate in the coming years.

Food and beverage companies use these devices to monitor the temperature of food products and drinks during processing, quality checks, storage, and shipment. Temperature sensors are also used in food and beverage processing machines, as their temperature needs to be regularly monitored. As the food and beverage sector is flourishing in Asia-Pacific (APAC), on account of the rising popularity of the dining out culture, the usage of these sensors is amplifying at a rapid rate.


Additionally, the petrochemical and oil & gas, consumer electronics, industrial, utilities, and pharmaceutical verticals are also using temperature sensors for various applications. In recent years, there has been a significant surge in the demand for body-worn sensors, owing to the advancements in the healthcare sector. These sensors are used to monitor the vitals of patients in real-time.

According to P&S Intelligence, APAC dominated the temperature sensor market in the past, and it is expected to retain its dominance in the coming years as well. This can be ascribed to the rising consumption of processed foods, expanding automotive sector, and accelerating urbanization rate in the region. Besides, the increasing penetration of smartphones in APAC will also propel the utilization of temperature sensors in the electronics sector.

Among APAC nations, China is the largest user of temperature sensors, owing to the strong presence of automotive and consumer electronics sectors in the country. Thus, the escalating use of body-worn sensors, expanding automotive industry, and flourishing food and beverage sector will augment the usage of temperature sensors in the foreseeable future.

Comments

Post a Comment

Popular posts from this blog

Increasing Penetration of Cloud Services Fueling AI-Powered Storage Market Growth

Image
The artificial intelligence (AI)-powered storage market growth thrives on the increasing adoption of data analytics to improve decision-making capabilities, burgeoning demand for AI in high-performance-computing data centers, mounting number of connected devices, surging use of cloud-enabled services by businesses to store their data on virtual servers, and soaring volume of data. Moreover, the rising number of government regulations and compliance rules related to data storage and protection will also facilitate the market growth in the foreseeable future. The surging adoption of cloud-based applications and services and rising number of connected devices are supporting the AI-powered storage market growth globally. Get the Sample Copy of this Report @  https://www.psmarketresearch.com/market-analysis/ai-powered-storage-market/report-sample The usage of AI-powered storage systems for high-performance computing assists businesses in working with and unifying high volumes of unstru...
Read more

Micro Battery Market Assessment Covering Growth Factors and Upcoming Trends

Image
Due to the mushrooming use of wearable devices, increasing adoption of the internet of things (IoT) in medical instruments, and surging utilization of compact batteries in the healthcare sector, the global micro battery market is expected to demonstrate a CAGR of 18.4% from 2019 to 2024. According to the estimates of the market research company, P&S Intelligence, the revenue of the market will surge from $418.2 million in 2018 to $1.1 billion by 2024. With the rising prevalence of chronic diseases, such as diabetes and cancer and the surging population of geriatric people, the incorporation of advanced technologies and solutions in the healthcare sector is rising sharply. For instance, as per the World Health Organization (WHO), 422 million people all over the world are diagnosed with diabetes every year. Furthermore, the organization found that the disease claims the lives of 1.6 million people across the world every year.  Besides the aforementioned factor, the growing use of...
Read more

Increasing Focus on Energy Conservation Fueling Popularity of Ambient Lighting

Image
The growing public awareness about environmental degradation and the importance of energy conservation has made the governments of many countries implement strict policies pertaining to the energy efficiency of lights. These policies are aimed at increasing energy and cost savings in several sectors.  Such energy codes for residential and commercial buildings are predicted to mitigate CO2 emissions by as much as 841 MMT and save around $126 billion in electricity costs. For instance, the U.S. Department of Energy has recently enacted the U.S. Energy Standard for Buildings, which is a national model code for commercial buildings and a critical parameter for developing various designs and systems.  Get the Sample Copy of this Report at:  https://www.psmarketresearch.com/market-analysis/ambient-lighting-market-report/report-sample China, which is one of the largest users of ambient lighting solutions in the world, has become one of the biggest consumers of power in the world...
Read more