Global Temperature Sensor Market Analysis and Forecast (2013 - 2018)
Online, November 14, 2014 (Newswire.com) - The demand for temperature sensors has increased in automotive industry especially in applications like powertrain, safety and controls and alternative fuel vehicles. The rise is due to the change in government standards and demand patterns of the end users. In terms of geographical segmentation of the automotive sensor market, Americas, Europe and Asia-Pacific are the major regions. Sensors are an important part of almost all day-to-day requirements, especially in consumer electronics. Customers’ demand for an immersive experience from digital products with a sleek and slim appearance, superior quality, energy efficiency and high definition brightness has propelled the need for sensors in consumer electronic devices.
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In petrochemical industry, temperature control and monitoring are an essential process. Temperature plays a very important role starting from the storage of the different chemicals to their cracking and distillation. The total process comprises of two main parts, that is, the sensing of temperature using a temperature sensor and hence controlling of the same, using a real time controlling software. As a device used to measure temperature of any given medium, temperature sensors perform thermal protection and management functions in a multitude of equipment and industrial/mechanical processes. The increasing consumption of electronic devices such as smartphones, cameras and media players and other consumer utilities is expected to boost market growth, since they have temperature sensing ICs. Though the demand for temperature sensors is being witnessed by other industries as well such as petrochemical, aerospace and defense and so on, these two industries are the major ones.
Product Launches Is The Major Activity Being Followed By Market Key Players:
There have been a lot of product launches related to temperature sensors since 2010. In the year 2013, the highest number of products was launched in global temperature sensor market. Majority of products have been launched by Analog Devices, Inc., STMicroelectronics N.V. and Sensata Technologies and these products can be mainly used in microwave ovens, refrigerators, air conditioners and so on. The availability of funds for R&D is one of the leading drivers for the product launches by these companies. For instance, ZMDI introduced ZSSC1750 and ZSSC1751; a new set of ICs to extend its battery sensing and battery management product range and also launched another product that is ZSSC416x - it is the first series of product from ZMDI’s Next Generation Sensor Signal Conditioner. This trend is expected to continue till 2020.
IndustryARC finds the market for Temperature sensors to be a very promising one in the near future. In a report compiled by experts, the future options in this field, including future M&A opportunities. A detailed analysis of the different types of sensors, along with a thorough market analysis of the different parts of the world, to improve the understanding of the base market and the innovative subdivisions in it has been made.
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