Temperature Sensor Market worth 7.48 Billion USD by 2023 Temperature Sensor Market1 | Page 9

Summary
The temperature sensor market is estimated to grow from USD 5.62 Billion in 2018 to
USD 7.48 Billion by 2023, at a CAGR of 5.9% between 2018 and 2023. The growth of
this market can be attributed to the increasing penetration of temperature sensors in
advanced and portable healthcare equipment.
This report segments the temperature sensor market by product type, end-user
industry, and region. By product type, the temperature sensor market has been
segmented into contact-type temperature sensor and noncontact-type temperature
sensor. The market for contact-type temperature sensor is expected to grow at a
higher CAGR between 2018 and 2023 owing to the various advantages of these
sensors, such as easy handling, increased throughput rates, fast response time, high
flexibility, and prolonged service life.