Temperature sensors play an important role in many industries, allowing for precise monitoring and control of temperature-sensitive processes and environments. These sensors detect and monitor temperature changes before turning them into electrical signals that may be read by electronic equipment. As companies prioritize efficiency, accuracy, and automation, demand for sophisticated temperature sensor systems grows.
The global market for temperature sensors is projected to expand significantly over the coming years. In 2023, the global temperature sensor market size was estimated at $7.3 billion and is expected to reach $9.0 billion by the end of 2028. This growth represents a compound annual growth rate (CAGR) of 4.3% from 2023 through 2028. This rising trend highlights the growing uses and technological developments in the temperature sensing business.