Global Temperature Sensor Market 2017-2021
About Temperature Sensor
A sensor detects and triggers a response to some form of input from the physical environment. It is a device that senses a change in analog information like a variation in light and pressure in the environment in which it is placed, converts it into an electric signal/pulse, and sends it to other subsystems based on its specific use. An input to be detected could be in any form, including light, heat, motion, moisture, and pressure. It may be an environmental phenomenon as well.
Technavio’s analysts forecast the global temperature sensor market to grow at a CAGR of 11.54% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global temperature sensor market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Temperature Sensor Market 2017-2021
Technavio recognizes the following companies as the key players in the global temperature sensor market: Honeywell International, Microchip Technology, NXP Semiconductors, and Panasonic.
Other Prominent Vendors in the market are: ABB, Analog Devices, Emerson, Maxim Integrated, and Siemens.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing demand for DTS. DTS or distributed temperature sensing is an optoelectrical device that is made up of optical fibers. The temperature can be recorded on a continuous basis rather than only at a certain point using these devices. The DTS segment is anticipated to grow at a high rate during the forecast period.”
According to the report, one driver in the market is regulatory framework associated with the automotive segment. A number of 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. 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.
Further, the report states that one challenge in the market is 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. Manufacturers produce high-quality products that are offered at lower prices. In emerging countries like China, many small domestic suppliers enter the market by introducing products at lower prices, leading to price wars among vendors. This is a constant challenge for the OEMs. The reduction in the prices has a direct impact on the cash flow of the companies.
Honeywell International, Microchip Technology, NXP Semiconductors, and Panasonic, ABB, Analog Devices, Emerson, Maxim Integrated, and Siemens.
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