At 7.6% CAGR, Asia Pacific Temperature Sensor Market is Projected to be Worth US$ 3,584.05 Million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific temperature sensor market was valued at US$ 2,141.05 million in 2023 and is expected to reach US$ 3,584.05 million by 2030, registering a CAGR of 7.6% from 2023 to 2030. Evolution of industry 4.0, increasing number of data centers, and strategic initiatives by government are among the critical factors attributed to drive the Asia Pacific temperature sensor market growth.

The introduction of Industry 4.0 brings several advances in the efficiency and productivity of industrial processes. Several industries use temperature sensors for generating real-time data based on temperature variation. Industries use this data for process optimization, predictive maintenance, and quality control, which further leads to a reduction in downtime, creating opportunities in the market. Temperature sensors are deployed to monitor complex industrial instruments and machines for monitoring their temperature range to maintain operational efficiency. The evolution of Industry 4.0 encourages technological advancements in nations, which creates opportunities for market growth.

Temperature sensors are crucial for smart factories and Industry 4.0 for enabling advanced automation, smart manufacturing, and data-driven decision-making activities. Temperature sensors are essential for measuring the temperature of various components, including motors, engines, and machines in smart factories. Temperature sensor enables continuous monitoring, which allows smart factories to identify deviations or inefficiencies in the processes by allowing real-time adjustments to improve productivity and reduce energy consumption. Temperature sensors are primarily used in Industry 4.0 and smart manufacturing. It helps in detecting overheating and abnormal temperature in the machinery and equipment by ensuing efficient operations and automation within modern industrial facilities. Thus, the growth in the smart manufacturing process is creating opportunities in the market.

On the contrary, high costs associated with the temperature sensors hamper the growth of Asia Pacific temperature sensor market.

Based on type, the Asia Pacific temperature sensor market is segmented into thermocouple, resistance temperature detectors (RTD), thermistor, infrared, and others. The thermocouple segment held 38.4% share of Asia Pacific temperature sensor market share in 2023, amassing US$ 821.28 million. It is projected to garner US$ 1,442.03 million by 2030 to register 8.4% CAGR during 2023–2030.

In terms of connectivity, the Asia Pacific temperature sensor market is bifurcated into wired and wireless. The wired segment held 70.5% share of Asia Pacific temperature sensor market in 2023, amassing US$ 1,508.95 million. It is anticipated to garner US$ 2,427.46 million by 2030 to expand at 7.0% CAGR during 2023–2030.

By end user, the Asia Pacific temperature sensor market is segmented into semiconductor manufacturing, healthcare & pharma, food and beverage, data center, aerospace, energy & utilities, and others. The semiconductor manufacturing segment held 31.7% share of Asia Pacific temperature sensor market in 2023, amassing US$ 679.29 million. It is projected to garner US$ 1,211.19 million by 2030 to expand at 8.6% CAGR from 2023 to 2030.

Based on country, the Asia Pacific temperature sensor market is categorized into China, Japan, South Korea, India, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 32.6% share of Asia Pacific temperature sensor market in 2023. It was assessed at US$ 697.43 million in 2023 and is likely to hit US$ 1,361.03 million by 2030, registering a CAGR of 10.0% during 2023–2030.

Key players operating in the Asia Pacific temperature sensor market are Texas Instruments Inc.; Siemens Ltd.; TE Connectivity Ltd.; Amphenol LTW Ltd.; Analog Devices Inc.; Emerson Electric Co.; Microchip Technology Inc.; Panasonic Corporation; Honeywell International, Inc.; and NXP Semiconductors N.V, among others.

• In December-2022, Newark has signed a global distribution agreement with Analog Devices Inc enhancing its semiconductor portfolio. The agreement will deliver the Analog Devices portfolio, including new-to-market products, to design engineers in various markets. The expanded range includes mixed signal and power management products, suitable for 5G, IoT, cyber security, radar systems, RF solutions, sensor interfaces, and precision technology applications. The partnership aims to meet market requirements and drive customer success.
• In May-2022, Designed for a wide range of healthcare and industrial applications, including vital signs monitoring, hearing aids, and motion-enabled metering devices, Analog Devices Inc.’s (ADI) three-axis ADXL367 MEMS accelerometer improves power consumption by two times versus a previous generation of the device (ADXL362) while improving noise performance by up to over 30%. Key features include 200nW motion detection in wakeup mode and 970nW in measurement; and deep multimode output FIFO, a built-in micropower temperature sensor, an internal ADC for synchronous conversion of an additional analog input, and single/double tap detection and state machine to prevent a false triggering.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com