Zion Market Research Global Temperature Sensors Market, 2016–2024 | Page 4

Temperature Sensors Market
Global Temperature Sensors Market: Regional Analysis
Asia Pacific dominated the temperature sensors market; this trend is followed by North America.
Asia-Pacific is the fastest growing market due to cheap labor cost and abundant opportunities for
temperature sensors in this region. Economically developing countries such as China and India are
growing significantly due to increasing government initiatives for the betterment of the medical and
healthcare sector. Asia Pacific may offer lucrative growth opportunities to the major competitors
involved in semiconductor, manufacturing, and electronics industries. Other developing countries
such as South Korea, China, and Japan are projected to boost the global market growth due to
growing application of these sensors in wearable devices. North America is a prominent contributor
in the global temperature sensors market. In addition, expansion in the oil and gas sector is further
contributing to the growth in the temperature sensors and may continue its dominance in the world in
future. Latin America, the Middle East and Africa, and Europe are projected to exhibit healthy
growth in the coming years.
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Global Temperature Sensors Market: Competitive Players
The global market for temperature sensors is highly competitive due to the presence of numerous
players such as Honeywell In ternational, ST Microelectronics, National Semiconductors, Analog
Devices, Texas Instruments, Microchip Technology, and Siemens.