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Temperature Sensor Market To Reach $11.1 Billion by 2030

The temperature sensor market will progress at a CAGR of 4.4% during 2020–2030, to reach $11.1 billion by 2030 from $6.9 billion in 2019, due to the escalating smartphone sales and spurring demand for such devices from the automobile industry. Currently, the market is observing a trend of increasing usage of body-worn sensors, owing to the developments in the healthcare sector and the integration of internet of things (IoT) technology in wearable devices.

These instruments are incorporated in personalized medical devices or smartwatches to measure user's pulse rate and temperature. One of the key factors driving the temperature sensor market growth is the surging requirement for temperature sensors in the automotive industry. These devices are used in this sector to measure temperature of several systems, liquids, and gases within automobiles, to ensure proper functioning.



Temperature sensors are largely used in heating, ventilation, and air conditioning (HVAC) systems of vehicles. The integration of these sensors is increasing in emerging economies like India, South Korea, and China, due to the growing sales of automobiles in these countries. The vertical segment of the temperature sensor market is categorized into automotive and aerospace, petrochemical and oil & gas, food and beverage, consumer electronics, utilities, industrial, pharmaceuticals, and others.

Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/temperature-sensor-market/report-sample

Among these, the automotive and aerospace category held the largest market share in 2019, owing to the stringent government norms that mandate the integration of temperature sensors in vehicles. This is being done to increase the fuel-efficiency of the vehicles, due to the extreme pollution levels and extensive need to reduce the emission of greenhouse gases (GHGs) from the vehicles.

This market research report provides a comprehensive overview of the market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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