U.S. Temperature Sensors Market to Reach $1.65 Billion by 2018
Increasing adoption of HVAC modules is expected to favorably impact the US industry
DUBLIN — The U.S. temperature sensors market is forecast to increase to a value of $1.65 billion by 2018, growing at a compound annual growth rate (CAGR) of 6.91 percent over the period of 2014 to 2020, according to new report from Research and Markets.
Temperature sensing has been gaining in importance, particularly in R&D and industrial settings, giving rise to higher demand for temperature sensors. Companies operating in the market have been investing heavily in research and development activities in order to develop and enhance temperature sensor functionality. Increasing adoption of HVAC modules is expected to favorably impact the U.S. industry. Technological advancements and reduced prices have resulted in the introduction of new applications in the HVAC space.