Temperature probes are used to measure the amount of coldness and heat energy, generated by a system. These sensors help in detecting physical change to the temperature producing digital output. Furthermore, temperature sensors are mainly used in sectors including healthcare, food & beverage, automotive and consumer electronics, defense industry. 

Temperature sensors are used in various industrial applications, which need process control with high accuracy. These probes are mainly used for sensitive processes, which need controlled process environments for example in chemical mixing, monitoring. Industrial processes which frequently requires to test and measure equipment’s temperature and volume, also use temperature probes on large scale. For example, clinical research processes have highly controlled manufacturing environments.

These probes play important role in manufacturing, handling, storing of medical equipment and drugs, as they maintain basic overall performance by monitoring temperature. The current developments in healthcare sensing probes are responsible for increase in the trend of continuous patient monitoring. As a result it can reduce overall healthcare costs and help to improve treatment outcomes. These medical sensors are capable of monitoring of vital signs, for example patients temperature and blood pressure that are directly recorded in the electronic format. It also reduces sloppy management of patient records and providing the user with the latest information. Currently consumer healthcare is amongst the major fields which holds a promising future for sensors with a fastest growth rate than all other applications.

The escalating burden of chronic disorders as well as, the worldwide, surging population count has consequently propelled the demand for these equipment’s. Chronically ill patients and the large elderly population subset form the target population for the sensor-based devices as it is imperative for them to undergo routine checkups; thus, facilitating remote and point-of-care patient monitoring.

Besides this, increased adoption rate of surveillance and checkup devices are further driving the temperature sensors market. In addition, factors such as strict government guidelines to ensure environmental safety and ongoing demand for electronic products and computing peripherals have kept the prospects of the market high.

The raw material used for manufacturing plays a crucial role in sensor efficiency and durability. Use of new raw materials such as lithium-niobate and langasite has increased the measurement ranges of temperature sensors. However, silicon based sensors are primarily used owing to their availability and low cost as they are produced in bulk. Multisensors are increasingly used for mass applications owing to their stability which, is expected to drive overall temperature sensors market growth.

Technical developments and advent of Micro-Electro-Mechanical Systems (MEMS) are likely to create greater opportunities.

The home healthcare category such as pregnancy kits and glucose monitoring kits is anticipated to witness lucrative growth over the years. The cost of diagnosis in hospitals and other healthcare units is high; hence, the preference of home healthcare equipment’s, such as diagnostic kits, over hospitals is observed to be rising. The high-unmet needs of the huge target population are expected to further open avenues for the market players in the industry.

However, dominance of legacy technologies and awareness of end-users have hampered the market growth. Quality, accuracy of temperature probes and raw material used for manufacturing has hampered the market.

The Global Market of Temperature Probe is segmented on basis of product type, application, end user, and geography. The market by product type includes fiber optic, temperature sensors IC, bimetallic, resistance temperature detector, IR temperature sensor, thermistor, and thermocouple. Based on applications, the market is segmented as surgical, diagnostic, therapeutic and monitoring. The end user of temperature probes include hospitals, physician offices, nursing homes, home healthcare facilities and others.

Geographically, the market is segmented into six major regions: North America, Europe, Asia-Pacific, Latin America, Middle East and Rest of the World (RoW). In terms of geography, North America followed by Europe account for the largest market share for because of availability of sophisticated primary, secondary, and tertiary-care healthcare settings supported the market. Moreover, the well-established reimbursement network, suitable government funding, and the increasing health awareness further facilitates the incorporation of the sensors in the medical devices.

The Asia Pacific region is anticipated to witness a remunerative growth over the next few years. This can be attributed to the heightened number of individuals suffering from chronic disorders, such as diabetes, hypertension, and respiratory problems.

The key market players active in the temperature sensor market are Analog Devices Inc., Maxim Integrated, Measurement Specialties Inc., Microchip Technology Inc., Honeywell International Inc., NXP Semiconductors, STMicroelectronics, Panasonic Corporation, Texas Instruments and Siemens AG.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Temperature Probe Market

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