Temperature Sensor Market By Type (Wired and Wireless), By Technology (Infrared, Thermocouple, Resistance Temperature Detectors (RTD), Thermistor, Temperature Transmitters, Fiber Optic and Others), By End-user Industry (Chemical & Petrochemical, Oil & Gas, Metal & Mining, Power Generation, Food & Beverage, Automotive, Medical, Aerospace & Military, Consumer Electronics and Other End User Industries)  and Geography  

Temperature Sensor Market Size was valued at USD 8.4 Bn in 2022 and is poised to grow with a CAGR of 4.4% from 2023-2029. Some of the key factors fostering the market growth include growing demand in automotive sector, demand for contactless temperature sensors, rising acceptance of home and building automation systems, growing demand for wearable in consumer electronics and increasing inclination of security and inspection. Also, rising need for temperature control for food safety management provides huge opportunity for the market. However, intense competition among manufacturers and fluctuating raw material prices are inhibiting the market growth. The advent of IoT and IIoT as a result of the shift toward digitalization in electronics has spurred the expansion of temperature sensors. Furthermore, the sensing industry's digital revolution has aided manufacturers in designing and developing new temperature sensors that use a digital interface with a low interface. Furthermore, the increasing use of temperature sensors in the industrial market is expected to propel the Temperature sensors market forward throughout the forecast period. New technical breakthroughs in the Petrochemical Industry are important growth factors for the Temperature Sensor market. The thermistor kind of temperature sensor is growing in popularity as the demand for medical sensors grows due to an increase in the number of diseases. Another major driver for temperature sensors in consumer electronics is the rapid expansion of tablets and smartphones as a result of enormous R&D innovations.