Positive global economic conditions, robust growth in emerging economies in
Asia, Eastern Europe, and Latin America, and the need for energy and production efficiency are boosting demand for temperature sensors and transmitters, according to a study by Frost & Sullivan (www.frost.com). The study, titled World Temperature Sensors and Transmitters Markets, predicts the market will grow $2.93 billion in 2005 to $4.50 billion in 2012.
Higher foreign direct investment, falling trade barriers, upgrades of existing facilities, and low labor costs are expected to encourage higher investment in newly industrialized nations, creating demand for temperature sensors. Greater automation among both local and multinational companies is expected to drive the market significantly.