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The global wireless temperature sensor market size is projected to reach USD 3,129.8 million by the end of 2027. Increasing investments in implementation of innovative and technologically sound concepts will emerge in favor of market growth. According to a report published by Fortune Business Insights, titled “Wireless Temperature Sensor Market Size, Share & COVID-19 Impact Analysis, By Type (Thermocouple, Thermistor, Resistance Temperature Detector (RTD), Semiconductor Temperature Sensor, Infrared Temperature Sensor, and Others), By Channel Output (Single-channel, Multi-channel), By Technology (Wi-Fi, Bluetooth, ZigBee, Radio-frequency identification (RFID), and Others), By End-user (Healthcare, Consumer Electronics, Automotive, Aerospace and Defense, Food and Beverages, Energy and Power, Oil and Gas, Chemicals, and Others), and Regional Forecast, 2020-2027,” the market was worth USD 1,816.0 million in 2019 and will exhibit a CAGR of 7.2% during the forecast period, 2020-2027.
Wireless temperature sensors are devices that are used to monitor and examine the temperature without the need of having to touch the human with the device. The concept of these sensors completely eliminates the need for conventionally used equipment such as the thermometer. The device is used across several industry verticals, including healthcare, chemicals and materials, energy and power, and consumer electronics. Besides these industries, the device is used across the aerospace industry for several applications. The low cost of the product, coupled with the presence of several large scale manufacturers will contribute to the growth of the overall wireless temperature sensor market in the coming years. The use of advanced sensor based concepts has been pivotal to the growth of the market in recent years.
Yogokawa’s Latest Wireless Sensors are Consequential to the Coronavirus Outbreak
The report highlights a few of the major industry developments of recent times and gauges their impact on the growth of the overall market. Due to the surge in demand for wireless temperature sensor during the pandemic, several companies are looking to invest more in this sector, with a view to capitalizing on the rising demand. Several companies have turned to technological integration with the aim of acquiring a wider consumer base. In July 2020, Yogokawa Electronic Corporation announced the launch of new pressure and temperature sensors for the ‘Sushi’ sensor. The company introduced ‘XS110A/XS550,’ a wireless sensor that was introduced with the aim of expanding Sushi sensor’s wireless industrial IoT solution in North America. This product will not just help the company grow during the pandemic, but also provide the platform for long term growth.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/wireless-temperature-sensor-market-103520
Increasing Product Adoption in the IT Sector will Provide Impetus to Market Growth
The rising demand for wireless temperature sensor is consequential to the increasing product applications across diverse industries. With more companies realizing the benefits of wireless sensors, the product has been a hot topic in the IT sector. The attention from various sectors will naturally prove beneficial for SMEs across the world, as large scale companies are bound to cover a major portion of the total consumer range.
Major Companies are Inclined towards Product Innovations
Accounting to the massive demand for these sensors across the world, there are several large scale companies operating in almost all major countries. Due to healthy market, it has become increasingly difficult for small and medium enterprises. As a result, these companies are looking to adopt strategies that will help them generate substantial revenue as well as establish a wider consumer base across the world. It is observed that product innovations are an increasing trend among major companies across the world.
List of companies profiled in the report:
Industry Developments:
The global market is segmented on the basis of:
ATTRIBUTE | DETAILS |
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Study Period | 2016 – 2027 |
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Base Year | 2019 |
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Forecast Period | 2020 – 2027 |
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Historical Period | 2016 – 2018 |
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Unit | Value (USD Million) |
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Segmentation | By Type
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By Channel Output
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By Technology
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By End-user
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By Region
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