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Temperature Sensor Market Share

Report ID: GMI3469
Published Date: Jul 2024
Report Format: PDF

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Temperature Sensor Market Share

TEXAS INSTRUMENTS and Microchip Technology Inc. held a significant share of over 10% in the temperature sensor industry in 2023. Texas Instruments (TI) holds a significant share in the market due to its extensive portfolio of analogy and digital temperature sensing solutions. The company's sensors are widely used across various industries including automotive, industrial automation, consumer electronics, and healthcare. TI's temperature sensors are known for their high accuracy, reliability, and integration capabilities with microcontrollers and digital systems. The company's strong focus on research and development enables continuous innovation in sensor technology, addressing emerging market trends such as IoT integration, miniaturization, and energy efficiency. TI's global presence, robust distribution network, and customer-centric approach further strengthen its position in the market, allowing it to cater to diverse customer requirements and applications worldwide.

Microchip Technology Inc. is another key player in the temperature sensor market, recognized for its broad range of sensor products catering to industrial, automotive, medical, and consumer electronics sectors. The company offers a comprehensive portfolio of analogy and digital temperature sensors, including thermocouples, RTDs, and integrated digital sensors with I2C and SPI interfaces. Microchip's sensors are designed for high accuracy, stability, and reliability, meeting the stringent performance requirements of critical applications. The company's strong emphasis on quality control, product innovation, and customer support has earned it a reputation for delivering robust temperature sensing solutions that address industry-specific challenges.

Temperature Sensor Market Companies

Major players operating in the temperature sensor industry are:

TEXAS INSTRUMENTS
Microchip Technology Inc.
Ams – OSRAM AG
Analog Devices
DWYER INSTRUMENTS
EMERSON
HANS TURCK

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Global industry size for temperature sensor was valued at USD 8.2 billion in 2023 and is anticipated to register over 4% CAGR between 2024 and 2032, driven by advancements in healthcare and automotive sector.

The digital segment in the temperature sensor market is expected to record 5% CAGR through 2032 due to the growing demand for IoT devices and smart technologies.

Europe market accounted 35% revenue share in 2023, propelled by the region's strong industrial base across diverse sectors, such as automotive, aerospace, healthcare, and manufacturing.

TEXAS INSTRUMENTS, Microchip Technology Inc., Ams – OSRAM AG, Analog Devices, DWYER INSTRUMENTS, EMERSON, and HANS TURCK.