Market Overview:

The Global Remote Temperature Sensors Market Size Was USD 1.81 Billion In 2022 And Is Projected To Reach USD 3.13 Billion By 2030, And Is Growing At A CAGR Of 7.2% During The Forecast Period 2022-2030.

Because portable and desktop computers are getting better and better, the number of temperature sensors will continue to grow. IoT and IIoT have become more popular as electronics have become more digital. This has made it even more important for temperature sensors to get better. Also, the digital revolution in the sensing industry has made it easier for companies to use low-interface digital technology to make new temperature sensors.

IoT connectivity is being used by Temperature Sensors to speed up COVID-19 screening. The sensors quickly test people with a high fever, which is one of the most common signs of COVID-19, and send real-time information to healthcare workers on the front lines.

Such sensors are important for a number of things, like keeping equipment used to store medicine, clean other machines, or heat liquids in a certain temperature range. Because there are more people who want temperature sensors, companies that make them make more of them to make more money. So, temperature sensors are being used more and more in a wide range of industries, such as the automotive, metal manufacturing, petrochemical, automation and instrumentation, defense and aerospace, and telecommunications industries.

COVID-19 Impact:

The COVID-19 outbreak gave players in the temperature sensor market new challenges and chances. Several businesses were hit hard by the sharp rise in hospitalizations and the strict lockdowns that were put in place to stop the spread of viruses. Supply chain problems caused by the pandemic and a lack of workers hurt the performance of the temperature sensor industry. But the outbreak made it clear that advanced detection technologies like non-contact infrared thermometers and thermal imaging systems are needed to help multiple governments' plans for reopening after a pandemic. Several countries are also using more and more devices that measure temperature without touching the object to stop the spread of COVID-19 infections.

Market Dynamics:

Market Trends:

Temperature sensors will continue to grow because portable and desktop computers are getting better and better. As electronics have become more digital, IoT and IIoT have become more popular. This has pushed the development of temperature sensors even further. Also, the digital revolution in the sensing industry has made it easier for companies to make new temperature sensors using low-interface digital technology.

Temperature Sensors is making use of IoT connectivity to speed up COVID-19 screening. The sensors quickly test people with a high fever, which is one of the most common signs of COVID-19, and give real-time data to healthcare workers on the front lines.

Driving Factors:

• Increasing Penetration of Temperature Sensors in Advanced & Portable Healthcare Equipment

The Temperature Sensor Market is being driven by the growing need for advanced, portable medical equipment. Temperature sensors are becoming more popular as new technologies like advanced patient monitoring systems and portable health monitoring systems come out. A growing number of older people, a worsening way of life, and a rise in viral infections are all expected to increase the demand for portable medical devices. Temperature sensors are used in wearable medical devices so that patients' health can be checked on all the time. The Temperature Sensor Market is growing because portable and wearable health devices are becoming more and more popular.

• Growing Popularity of Smartwatches

The market is growing because more people are buying wearable devices like smartwatches and fitness trackers that use temperature-sensing technology to track the wearer's body temperature and give them information about their health. Market growth is also being sped up by the use of temperature sensors in smart home devices like smart lights and smart blinds. Smart lighting systems use technology that can sense the temperature to change the color temperature of the light to make the home feel warm and inviting. Smart blinds also check the temperature in a home and adjust themselves based on that. For example, when the temperature outside is high, the smart blinds automatically close to keep the temperature inside at the same level. For example, a U.S. company called Omniablinds made Eve Motion Blinds with Apple Home-kit technology that lets you control smart blinds right from your phone. The blinds work with Bluetooth technology and can be controlled by apps on operating systems like Android and iOS.

• Increasing Demand for Sensors in the Food & Beverage Industry

More and more, companies that make food and drinks rely on automated controls to make their products better and more consistent. In turn, this has increased the need for sensors. Sensors are used more often because tools and controls that accurately measure, control, or record pressure, temperature, or other conditions are needed. In the food and drink business, which is very competitive, sensor companies have to offer a wide range of products to meet customer needs. Consumers care about getting the best quality consistently and at the best price.

Restraining Factors:

• High Initial Cost involved in Advanced Sensors

Cobalt, nickel, manganese, iron alloy, copper, and iron are some of the raw materials that manufacturers in the Temperature Sensor Market need. These companies can't get these materials without help from other companies. The fact that the prices of these raw materials change a lot and that they aren't always available makes it hard for companies that make temperature sensors to make money. Changes in the prices of raw materials are caused by things like the unstable global economy, the availability of raw materials, trade tariffs, wars, and other political events, an increase in global demand, natural disasters, and the unstable exchange rates of foreign currencies. Also, the high cost of quality inspection is shown by the fact that the global market is becoming more and more competitive. So, quality must be built into the manufacturing process. This means that the process must be under control, either by using sensors to keep an eye on it all the time or by pulling the product out for inspection at different stages of production. Because of this, high start-up costs are likely to hurt the manufacturing and shipping of temperature sensors.

• Risk of Using Temperature Sensors in Harsh Environments

Products, tools, and systems that have to work in tough conditions are only as reliable as their least reliable part. In these kinds of environments, temperature sensors are often the weak link and the cause of costly problems and downtime. This is true in many industrial settings, including oil and gas, aerospace, HVAC, metal processing, power generation, water treatment, and metal processing. Extreme temperatures, physical shocks or vibrations, humidity, corrosion, and radiation are all common environmental factors that can damage sensors.

• Lack of Experienced Service Personnel

From the retiring baby boomers in North America, Europe, and Japan to the lack of qualified engineers in Asia and other parts of the world, there aren't enough people to work in service jobs, which is slowing the growth of temperature sensor supplier services. Unfortunately, the number of qualified workers keeps going down because fewer college students, especially in the US, see process automation, process engineering, chemical engineering, and other technical fields as interesting career paths. It can take a company two years to train a recent college graduate well in the field of automation, and once the person is trained, the company may find it hard to keep them on. In the process industries, this "brain drain" causes some interesting problems. This includes the fact that suppliers can't find and keep qualified service staff to help clients keep their field devices in good shape and replace them when they break. This makes it harder for suppliers to take advantage of their customers' need for more and more field services.

Opportunities:

• Increasing Trend of Wearable Devices

Several biometrics, like the heartbeat and body temperature, can be tracked with devices that you wear. Wearable devices are becoming more popular quickly, and more and more people want to use them to improve their fitness and overall health. One in six people own and use a wearable device right now, and this number is expected to grow in the years to come. The players in the Temperature Sensor Market should be able to make more money because of this growing demand and people's growing interest in health.

• Development of Advance Technology

More people want sensors that are reliable, work well, and aren't too expensive, which has led to the development of new technologies like micro and nano technologies. Some of the benefits of these technologies are miniaturization, less power use, and mass production. Also, new technological advances in the petrochemical industry will give the temperature sensor market more chances to grow.

Challenges:

• Design Obstacles

Most of the time, the process of making temperature sensors is what keeps them from being used more often. Temperature sensors are hard to make because they need to be stable, accurate, and sensitive, among other things. To keep these features, temperature sensors rely heavily on monitoring solutions, which slows the growth of the market for temperature sensors.

Advanced sensors may not grow the market because they are more expensive to buy at first, people don't know enough about how they work, and they can get too hot in some situations.

• Continuous Price Reductions and Intense Competition among Manufacturers

The Temperature Sensor Market has always had a big problem with price competition. Emerging economies like India and China have a lot of room to grow, so companies that make temperature sensors price their products cheaply to get into these markets. Temperature sensors are used in a lot of heating, ventilation, and air conditioning (HVAC) systems and consumer electronics. This leads to more sensors being shipped, but price erosion slows sales growth by a lot. This is partly because there are more and more companies that make sensors, so they have to compete hard with each other. This makes new temperature sensors come out quickly. The Temperature Sensor Market is already very fragmented, and the fact that technology is easy to get makes it even worse. This makes competition between manufacturers very fierce.

Strategic Development:

• In July 2019 - CTS Corporation paid USD 75 million to buy Quality Thermistor, Inc. (QTI), the leader in temperature sensors in the US. With this purchase, QTI's wireless temperature sensors for the aerospace, medical, defense, and industrial markets will have more to choose from.
• In 2018 - The German Association of the Automobile Manufacturers says that, the United States made more passenger cars than any other country except China (VDA).
• In 2018 - Healthcare Information and Management Systems Society (HIMSS) conference, Point Six Wireless showed off its new remote temperature sensor.
• In March 2022 - The STS4x is the fourth generation of temperature sensors from Sensirion. It was released. The digital sensor gives very accurate measurements and has the fastest lead times in the industry. It is also available in different levels of accuracy, and the STS40 is a good example of this. It has features like better signal processing, three different I2C addresses, and up to 1 MHz communication speeds.

Key Vendors:

• Honeywell

Honeywell International Inc., also called "Honeywell," is a company that works in engineering and technology. The company comes up with and makes technologies that solve problems in areas like energy, security, safety, productivity, and the growing number of cities around the world. Honeywell sells specialty chemicals, process technologies, electronic and advanced materials, productivity, sensing, safety and security technologies, and spare parts. It also offers repair, overhaul, and maintenance services, as well as management and technical services.

• Emerson

Emerson, which used to be called Emerson Electric Co., is now one of the most admired manufacturing companies in the United States. Emerson went from being a local company that made electric motors and fans to an international company that does a lot of different things. IndustryWeek magazine put the company on its list of the 100 Best-Managed Companies for the fifth year in a row in 2000.

• OMEGA Engineering

Measurement tools are made by Omega Engineering Inc. The company sells products that can measure and control temperature, humidity, pressure, strain, force, flow, level, and conductivity.

• Dwyer Instruments

Dwyer is the trusted leader when it comes to making new instrumentation solutions for the HVAC and Process Automation markets around the world.

• E+E Elektronik

E+E Elektronik designs and makes humidity, dew point, moisture in oil, CO2, air velocity, mass flow, temperature, and pressure sensors and transmitters. The Austrian sensor expert has a full line of products, including hand-held meters, humidity calibration systems, and calibration services. HVAC and building technology, industrial measurement technology, the automotive industry, the pharmaceutical and food industries, cleanroom technology, meteorology, environmental technology, and agricultural engineering are the main areas where it is used.

Segmentation Analysis:

The market is segmented on the basis of product type, output, connectivity, end-user and region.

By Product Type Outlook:

The market for non-contact temperature sensors is expected to grow faster from 2022 to 2028 than the market for contact temperature sensors. This is because non-contact temperature sensors can read the temperature of an object's surface without touching it. Most of the time, these temperature sensors are used for small, portable, and hard-to-reach sources, objects, and gadgets.

• Contact Temperature Sensors
• Non-Contact Temperature Sensors

By Output:

During the study period, digital output dominated the temperature sensor market because it was used more in aerospace, medical, test and measurement equipment, home automation, industrial automation, and industrial automation. The digital temperature sensor market will also be driven by the fact that more people are using fitness wearables and that they can be used in remote applications.

• Digital
• Analog

By Connectivity:

The wireless temperature sensor is anticipated to have a high CAGR during the forecast period in the global temperature sensor market. The increased adoption of wireless temperature sensors in industries owing to non-contact measurement capability to reach locations where it is not viable to physically install a device. Examples of applications in the oil and gas industry where temperature measurements are crucial include compressors, wellhead tanks, chemical tanks, flare systems, and pipeline data collection. This is because installing a wired device inside a tank or a pipe would be ineffective if the operating temperature was high.

• Wired
• Wireless

By End-User:

The consumer electronics segment is the biggest in the global temperature sensor market. This is because wearables like fitness trackers are becoming more popular. There is also a rise in demand for smart homes, smart phones, tablets, PCs, laptops, etc., and a rise in demand for smart meters for power generation. This, along with a rise in demand for portable game consoles, will help the consumer electronics segment grow in the temperature sensor market. Because of this, we need more and more devices with built-in temperature sensors that can keep track of temperature without making things more complicated.

In the health care field, there is a high demand for MRI machines, thermometers, and diagnostic imaging equipment with built-in temperature sensors. So, it is expected that the market for temperature sensors will be led by the health care industry. The market for temperature sensors will be driven by the growing demand for wearable health devices.

• Automotive
• Chemicals
• Oil & Gas
• Metals & Mining
• Consumer Electronics
• Aerospace & Defense
• Energy & Power
• Healthcare
• Food & Beverages
• Pulp & Paper
• Others

Regional Insights:

The global Remote Temperature Sensors market has been looked at in different parts of the world, like North America, Latin America, the Middle East, Asia-Pacific, Africa, Europe, and India. In the near future, this market will be dominated by the global Remote Temperature Sensors region.

During the forecast period, North America is expected to have the largest share of revenue in the market. In the U.S. and Canada, the demand for these sensor solutions is driven by the growth of the industrial manufacturing and automotive industries.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Scope of Report:

Conclusion:

• The market research report gives a detailed analysis of the temperature sensor market.
• It focuses on important things like the top companies, product types, competitive landscape, and top uses of the product.
• Aside from this, the report gives information about market trends and highlights important changes in the industry.
• The report has a lot of information, like how the market is changing and what opportunities will be available in the future.