A new study title “Environmental Sensor market size, status and forecast 2027” has been featured on market research future.
The global environmental sensor market was valued at USD 1.13 billion in 2017 and is exected to reach USD 1.99 billion by the end of forecast period with a CAGR of 10.21%.
The need for environmental monitoring has risen the adoption of environmental sensors such as pressure, temperature, chemical, gas, smoke and many others. These sensors have a major impact on the production, health, and comfort of the population. The major factors contributing towards the growth of environmental sensors market includes strict government regulations on pollution control, and rising demand for air quality monitoring in urban cities. Various governments across the globe have started penalizing industries, manufacturers, and even citizens for not maintaining the desired environmental standards. This has increased the demand for utilizing various environmental sensors at different spots and in different equipment to gather the information and optimize monitoring in real-time.
Despite the tremendous need for environmental monitoring and environmental sensors, the lack of efficient sensors for long-term environment monitoring is hampering the growth of the market. It is not feasible for enterprises to maintain and develop efficient sensors that can accurately monitor the changes in the environment. However, the ongoing advancements in IoT and nanotechnology-based environmental monitoring, and increased adoption of environmental sensors for consumers, HVAC, and air purifiers is posing various growth opportunities for the market.
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The giant players in the environmental sensor market are identified as Sensirion AG (Switzerland), ams AG (Austria), Bosch Sensortec GmbH (Germany), Honeywell International Inc. (US), OMRON Corporation (Japan), ABB Ltd. (Switzerland), Raritan Inc. (US), Texas Instruments Incorporated (US), Siemens AG (Germany), and Schneider Electric (France).
Depending on the type segment, the market is bifurcated among pressure sensors, temperature sensors, chemical sensors, water quality sensors, smoke sensors, gas sensors, humidity sensors, and more.
Depending on the end-user segment, the market is bifurcated among residential, commercial, industrial, consumer electronics, automotive, government, healthcare & life sciences, and more. The consumer electronics segment is again divided into smartphones & tablets and wearable devices.
The global market of environmental sensors is estimated to grow at a significant rate in the central regions of Europe, Asia-Pacific, North America, and the rest of the world (comprising the Middle East, Africa, and Latin America).
The approval of environmental sensors for monitoring has been significantly amplified owing to expanding challenges to preserve the quality of air in and around industrial areas. North America has the highest approval rate of environmental sensors and supporting massive manufacturing facilities in the US and Canada. These facilities were planned with older environment security measures that do not abide by the current regulations for environment monitoring. However, costs concerned with upgrading the traditional factories into smart factories are reasonably high. Many enterprises have started implementing smart factories, where till now, small and medium enterprises refrain from financial constraints and lack of proper infrastructure. With this, the organizations are experiencing the need for environmental monitoring since the risk involved with getting penalized by the government for not maintaining the emission standard is going up. The US and Canada are the leading countries in North America and growing with a staggering CAGR.
The market of environmental sensors is also leading in Europe. The region has decidedly economically recognized countries with strict environmental policies and regulations. Germany and UK are the leading countries in the environmental sensor market. In the last, Asia-Pacific is might also grow with the highest CAGR in the forecast period.
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