1. Science / Technology

Environmental Sensor Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

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Overview and Scope
Environmental sensors are sensors that track the environment and provide real-time data about temperature and humidity, wind speed and direction, and rainfall. Environmental sensors are used to record, store, test, and accurately measure vital environmental information using Data Center Infrastructure Management (DCIM) software.

Sizing and Forecast
The environmental sensor market size has grown rapidly in recent years. It will grow from $1.77 billion in 2023 to $1.96 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%.  The growth in the historic period can be attributed to industrialization, increasing environmental awareness, stringent environmental regulations, government initiatives for pollution control, rising concerns about climate change.

The environmental sensor market size is expected to see strong growth in the next few years. It will grow to $2.86 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%.  The growth in the forecast period can be attributed to adoption of wireless sensor networks, expansion of smart city initiatives, emphasis on sustainable development, rising demand for real-time environmental monitoring, investments in environmental sensor research and development. Major trends in the forecast period include integration of ai and machine learning in sensor data analysis, growth of wearable environmental sensors, increasing use of drone-based environmental monitoring, development of low-cost sensor solutions, focus on sensor data interoperability.

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Segmentation & Regional Insights
The environmental sensor market covered in this report is segmented –

1) By Type: Temperature, Humidity, Air Quality, Water Quality, Integrated, Gas, Chemicals, Smoke, Ultraviolet (UV), Soil Moisture
2) By Application: Smart Home Automation, Factory Automation, Smart Cities, Automotive Powertrain System, Energy Harvesting, Other Applications
3) By End User: Industrial, Residential, Commercial, Automotive, Government And Public Utilities, Other End-Users

North America was the largest region in the environmental sensor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the environmental sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The rapid adoption of smart cities is expected to boost the growth of the environmental sensor market going forward. Smart cities refer to a technologically modern urban area or city that uses information and communication technology (ICT) to increase operational effectiveness, communicate information to the general public, and enhance the standard of public services and the well-being of citizens. A variety of environmental sensors are installed in smart cities to collect electronic data regarding infrastructure and people, such as smart transportation systems that provide traffic information and automatically pay toll taxes from user accounts, smart energy systems that minimize downtime and damage to the electric grid, and other environmental sensors. For instance, in April 2023, according to the IMD Smart City Index (SCI) Report 2023, published by the International Institute for Management Development (IMD), a Switzerland-based independent university institute, the number of smart cities recorded in 2021 is 141 cities, up from 118 at the time of measurement, a 20% increase in 2019. Therefore, the rapid adoption of smart cities is driving the growth of the environmental sensor market.

Key Industry Players
Major companies operating in the environmental sensor market report are Siemens AG, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Texas Instruments Incorporated, Emerson Electric Co., TE Connectivity, Microelectronics N.V., Infineon Technologies AG, Amphenol Corporation, Renesas Electronics Corporation, Omron Corporation, Ams OSRAM AG, Horiba Group, Sick AG, Sensirion AG, RioT Technology Corp., Figaro Engineering Inc., Omega Engineering Inc., Bosch Sensortec GmbH, Eurotech SpA., Raritan, Eko Instruments BV, Avtech Software Inc., Breeze Technologies, Elichens, NuWave Sensor, Nesa Srl., Apogee Instruments Inc., Aeroqual Ltd.

The environmental sensor market report table of contents includes:
1. Executive Summary

  1. Environmental Sensor Market Characteristics
  2. Environmental Sensor Market Trends And Strategies
  3. Environmental Sensor Market – Macro Economic Scenario
  4. Global Environmental Sensor Market Size and Growth

…..

  1. Global Environmental Sensor Market Competitive Benchmarking
  2. Global Environmental Sensor Market Competitive Dashboard
  3. Key Mergers And Acquisitions In The Environmental Sensor Market
  4. Environmental Sensor Market Future Outlook and Potential Analysis
  5. Appendix

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