Measurement Specialties Inc., a subsidiary of global industrial technology company TE Connectivity Ltd. acquired Silicon Microstructures Inc. from Elmos Semiconductor AG.
SMI’s micro-electro-mechanical systems (MEMS) sensor technology design and manufacturing capabilities join TE’s operational scale, customer base, and existing sensors technologies to offer comprehensive global sensing solutions. SMI expands TE’s global leadership in pressure sensing technology, particularly in medical, transportation, and industrial applications.
SMI will now be reported as part of TE’s Sensor Solutions business.
Global biomedical temperature sensors market to reach $10 billion by 2026
According to Stratistics MRC, the global biomedical temperature sensors market was $5.60 billion in 2017 and is expected to reach $10.10 billion by 2026, growing at a compound annual growth rate (CAGR) of 6.8%. Driving factors include increasing demand for fitness devices and rising health concerns. However, high costs are restraining growth.
North America is expected to grow significantly due to rising need for medical services and medical sensor providers, who are developing high value-add equipment to meet these needs.
Trends Market Research