From GlobeNewswire: 2024-05-30 08:00:00

The Temperature Sensor Market is projected to grow from USD 7.4 billion in 2024 to USD 9.7 billion by 2029, with a CAGR of 5.6%. Rising adoption in food safety management and Industry 4.0, challenges from price reductions, and regional growth in Asia Pacific are key factors driving market expansion.

China, as the largest electricity consumer in Asia Pacific, is driving market growth through investments in renewable energy resources and the increasing use of temperature sensors in transformer monitoring systems. Key players in the temperature sensor market include Honeywell International, Texas Instruments, and Siemens, among others.

The global temperature sensor market, valued at approximately USD 7.4 billion in 2024, is expected to reach USD 9.7 billion by 2029, with a CAGR of 5.6%, driven by demand in automotive, healthcare, consumer electronics, and industrial sectors. Texas Instruments and Honeywell International dominate the market, with a strong presence in the automotive and healthcare industries.



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