Wireless Temperature Sensor Market Size, Share & COVID-19 Impact Analysis, By Type (Thermocouple, Thermistor, Resistance Temperature Detector (RTD), Semiconductor Temperature Sensor), By Channel Output (Single-channel, Multi-channel), By Technology (Wi-Fi, Bluetooth, ZigBee, Radio-frequency identification (RFID)), By End-user (Healthcare, Consumer Electronics, Automotive, Aerospace and Defense, Food and Beverages), and Regional Forecast, 2020-2027

The global wireless temperature sensor market size was USD 1,816.0 million in 2019 and is projected to reach USD 3,129.8 million by 2027, exhibiting a CAGR of 7.2% during the forecast period.

The growth of the market is mainly driven by the rising demand for wireless sensors across diverse industries including healthcare, consumer electronics, automotive, aerospace and defense, and manufacturing, among others. In addition to this, the growing penetration towards advanced driver assistance systems (ADAS) and rising high demand for industrial automation products and gas & biosensors are expected to boost wireless temperature sensor market growth in coming years.

COVID-19 Impact

Interest in Temperature Monitoring Systems Will Grow Amid COVID-19 Crisis

The COVID-19 is expected to have a positive impact on this market. Temperature monitoring systems are playing a crucial role in detecting elevated body temperatures and abnormal symptoms for coronavirus identification. The adoption of these sensors is increasing in various health monitoring devices to measure skin temperature, ear temperature, and forehead temperature without touching the human body. Companies are also leveraging AI-enabled platforms to monitor real-time temperature at manufacturing plants.

With a stringent social distancing standard being executed across the globe, the demand for the temperature monitoring systems will gain eminence at public places such as railways, airports, supermarkets, and stadiums to trace patients. For instance, in April 2020, ForaCare Suisse AG launched a FORA autonomous temperature measuring station to fight against COVID-19 pandemic. This system can measure precise and accurate temperature readings through its non-contact technology. Such active initiatives are expected to drive the demand for temperature monitoring solutions in the coming years.

LATEST TRENDS

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Integration of Connective Technology with the Wireless Temperature Sensors (WTSs) to drive the Market Growth

The growing trends of integrating connectivity technologies such as artificial intelligence (AI), Wi-Fi, Bluetooth, and others with these wireless types of temperature sensors, is expected to accelerate the demand for the product. AI-powered WTSs help customers achieve a higher operational efficiency. Additionally, the WTSs based on artificial intelligence technology advancements can effectively respond to high body temperature and send instant alerts to assist people. Key market players are focusing on developing advanced wireless sensors enabled with AI technology.

• For instance, in February 2017, Emanate Wireless, Inc. launched its two advanced artificial intelligence (AI) based temperature sensors for its wireless monitoring solution, PowerPath Temp. The product includes "Expanded Range" and "Easy Wireless" AI-based temperature sensors specially designed for hospitals, and clinics.

DRIVING FACTORS

Increasing Adoption of Wireless Temperature Sensors in IT & Telecommunications Sector to Aid Market Growth

The increasing need for unstructured data management and growing internet penetration has led to the widespread adoption of data centers, which in turn, boosted the demand for WTSs. Data centers produce a substantial amount of heat that can compromise the integrity and reliability of the cloud services. This has subsequently created a massive demand for these sensors that aid in alerting irregular rack and duct temperatures.

• For instance, in February 2020, Amazon Web Services, Inc. (AWS) invested around USD 1.6 Billion to set up two data centers near Hyderabad owing to rising demand for cloud services in India.

RESTRAINING FACTORS

High Costs Involved at Initial Stage May Act as an Inhibitor for Market Growth

The market is growing at a rapid pace owing to its multi-tasking abilities across various industrial applications. The initial high cost of the components and installation & ongoing maintenance costs is limiting their uptake. In addition, these sensors are sometimes less sensitive towards the external environment which is negatively impacting the adoption of WTSs for the industrial applications. Also, some WTSs showcase a limited temperature range, which consequently results in device failure and increases additional costs.

SEGMENTATION

By Type Analysis

Thermocouple Segment Held the Largest Market Share

Based on the type, the market has been bifurcated into thermocouple, thermistor, resistance temperature detector (RTD), semiconductor temperature sensor, infrared temperature sensor, and others.

Among these, the thermocouple segment is estimated to hold the largest market share. The growth is attributable to the rising demand of these sensors in a wide range of industrial applications owing to their technical specifications and wide range of models.

The semiconductor temperature sensor segment is expected to grow at a considerable rate during the forecast period. This growth is attributable to the increasing demand of semiconductor-based temperature sensors or integrated circuit (IC) temperature sensors in embedded applications. Other types of WTSs such as bimetallic and optical fiber temperature sensors are expected to grow at a significant rate owing to the rising emphasis on constant temperature monitoring, and a growing number of R&D activities.  

By Channel Output Analysis

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Multi-channel Output Segment to Grow Exponentially During the Forecast Period

Based on the channel output, the market is further segregated into single-channel, and multi-channel.

The single-channel segment is projected to hold the largest market share owing to the rising adoption of these sensors in environmental, server, industrial, and instrumentation applications. The multi-channel segment is expected to exhibit the highest CAGR during the forecast period. The growth is attributable to its ability to accurately measure and monitor temperatures of multiple heat sources.

By Technology Analysis

Healthcare and Life Sciences Segment to Exhibit the Highest CAGR

Based on technology, the market is segmented into Wi-Fi, Bluetooth, zigbee, radio-frequency identification (RFID), and others.

Among these, the BlueTooth segment is estimated to hold the largest market share. The growth is because of the increasing adoption of the bluetooth-enabled portable temperature sensor in many consumer electronics, automotive, smart infrastructure, and smart cities applications.

The wi-fi segment is projected to be the fastest-growing segment during the forecast period. The growth is attributable to the increasing wireless technology demand in various end-user industries. Other segments are anticipated to show a considerable growth rate owing to the rising adoption of advanced technologies such as Zigbee, RFID, WirelessHART, and others in WTSs.

By End-user Analysis

Adoption of WTSs in Oil and Gas Industry to Help the Segment Account for the Maximum Share

Based on the end-user industry, the market is segmented into healthcare, consumer electronics, automotive, aerospace and defense, food and beverages, energy and power, oil and gas, chemicals, and others. Among these, the oil and gas segment is anticipated to hold the largest market share, whereas the automotive segment is projected to be the fastest-growing segment during the forecast period.

Wireless temperature sensors play a crucial role in the oil and gas end-user industry. In the process industry, such as energy and power, oil and gas, chemicals these sensors are majorly used in multiple processes such as metal treating, overheating, power generation, chemical and petrochemical processing, diesel engine testing, and waste treatment.

The growth of the automotive segment is impelled by the rising adoption of WTSs in automotive applications such as engine control units, cylinder head temperatures, coolant, air intake, and exhaust applications. In addition, the increasing adoption of these sensors in healthcare, consumer electronics, aerospace and defense, food and beverages, and other end-user industries is expected to fuel the market growth.

REGIONAL INSIGHTS

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Geographically, the market is segmented across five major regions, namely North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

North America is expected to dominate the market in terms of revenue share in the market during the forecast period. The expanding industrial manufacturing and automobile industries are boosting the demand for this type of sensor solutions across the US and Canada.

• According to the German Association of the Automotive Industry (VDA), in 2018, the US is the second-largest passenger car vehicle producer after China.


• In 2018, Point Six Wireless launched its latest wireless temperature sensor at Healthcare Information and Management Systems Society (HIMSS) conference 2018.

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Asia Pacific is expected to grow exponentially during the forecast period. The growth is attributable to the rising adoption of intelligent manufacturing, smart factories, and smart home solutions. Key market players are focusing on launching new products to improve customer experience.

• For instance, in May 2020, GOQii, an Indian startup, launched a smart wearable – “GOQii Vital 3.0.”. It is equipped with a wireless type of temperature sensor that can detect early COVID-19 symptoms such as body temperature, heart pressure, and others.

Europe is expected to develop with a substantial CAGR owing to the presence of a considerable number of industrial wireless temperature sensor manufacturers and system integrators. The Middle East & Africa and Latin America regions are expected to experience a gradual CAGR during the prediction period. This growth is owing to the rising investment by the local government to adopt advanced wireless temperature sensors.

KEY INDUSTRY PLAYERS

Emphasis of Key Players towards Developing Innovative Wireless Temperature Sensors to Strengthen Competition

Major players such as ABB Ltd., Emerson Electric Co., Honeywell International Inc., and STMicroelectronics, among others are proactively strengthening their market position by upgrading their existing product lines to cater to the various industrial applications. In addition, key players are now integrating temperature sensors with advanced technology such as Wi-Fi, Bluetooth, Ipv6, RFID, and others to enhance product quality and deliver enhanced temperature sensors. The governmental bodies are allocating funds to uplift the manufacturing and industrial sector and this in turn will further propel the growth of the market.

KEY INDUSTRY DEVELOPMENTS:

• July 2019: - CTS Corporation acquired Quality Thermistor, Inc. (QTI), US-based industry leader in temperature sensors, for USD 75 million. According to the acquisition, CTS Corporation expands the QTI’s wireless temperature sensor portfolio in the aerospace, medical, defense and industrial markets.

LIST OF KEY COMPANIES PROFILED:

• Temptime Corporation (New Jersey, United States)


• OMEGA Engineering Inc. (Connecticut, United States)


• Texas Instruments Incorporated (Texas, United States)


• PASCO scientific (California, United States)


• Emerson Electric Co. (Missouri, United States)


• Honeywell International Inc. (North Carolina, United States)


• ABB Ltd. (Zürich, Switzerland)


• Axzon Inc. (Texas, United States)


• E+E Elektronik Ges.m.b.H. (Engerwitzdorf, Austria)


• Phoenix Sensors LLC (Arizona, United States)


• Microchip Technology Inc. (Arizona, United States)


• Schneider Electric SA (Rueil-Malmaison, France)


• Endress+Hauser SA (Reinach, Switzerland)


• Siemens AG (Munich, Germany)


• Yokogawa Electric Corporation (Tokyo, Japan)

REPORT COVERAGE

The market research report provides a detailed wireless temperature sensor market analysis and focuses on key aspects such as leading companies, product types, competitive landscape and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the advanced market over the recent years.

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