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Global Temperature Sensor Market - High Demand from Automotive Sector to Boost Growth| TechnavioThe global temperature sensor market is expected to grow at a CAGR of close to 12% during the period 2017-2021, according to a new market research study by Technavio. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171207005497/en/ 
Technavio has published a new market research report on the global temperature sensor market from 2017-2021. (Photo: Business Wire) The report categorizes the global temperature sensor market by application, which includes consumer electronics, HVAC, food and beverage, automotive, and oil and gas. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA. This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free. Market driver: regulatory framework associated with the automotive segment Many regulations associated with the safety and emission controls standards require sensors. It is essential for automotive manufacturers to comply with essential safety and emission standards set by the authorities. This will drive the global temperature sensor market during the forecast period. According to Rohan Joy Thomas, a lead analyst at Technavio for embedded systems resarch, "The innovation and development of newer electric, hybrid, and driverless cars will further enhance the demand for temperature sensors during the forecast period. The applications include checking of the air intake temperature in cylinder heads to alert the driver about the engine overheating. The sensors are also used in the engine coolant compartment, which is used to measure the temperature of transmission fluid applications." Looking for more information on this market? Request a free sample report Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. Market trend: increasing demand for contactless temperature sensors Contactless temperature sensors are experiencing high demand, which will increase during the forecast period. Contactless temperature sensors are convenient to use and are relatively less complex compared with contact temperature sensors. Such sensors can be used conveniently in hazardous environments such as places that are exposed to radiation and microwaves. The contactless temperature sensors are also believed to sense temperature with a better level of accuracy. Such sensors are small and hence occupy lesser space. This will boost the demand for temperature sensors during the forecast period. Market challenge: constant reduction in the price The global temperature sensor market is highly competitive due to many vendors offering homogeneous products. Manufacturers constantly compete based on product quality, performance, durability, and price. In emerging countries like China, many small domestic suppliers enter the market by introducing products at lower prices, leading to price wars among vendors which is a constant challenge for the OEMs. Is your business on track for a successful future? Learn how Technavio can help Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions. Key vendors in the market The competition in the global temperature sensor market will intensify during the forecast period as the entry barriers are quite low. The market is witnessing competition, specifically among the large and the recognized market players who are investing high amounts in R&D with the aim of developing advanced sensors that can cater to the diversified markets. The demand for temperature sensors will increase because of the growing demand from industries such as consumer electronics, automobiles, and defense and aerospace. Get a sample copy of the global temperature sensor market report free of cost Access Technavio's continuously growing embedded systems research library and find expert analysis on hundreds of markets. About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. If you are interested in more information, please contact our media team at [email protected]. View source version on businesswire.com: http://www.businesswire.com/news/home/20171207005497/en/ |
