Alcohol sensor Market Expected to be stood more than USD 1980 million by 2027 with Emerging Players like Drägerwerk AG & Co. KGaA, BACKtrack Inc., Lifeloc Technologies, Abbot Laboratories, Alcohol Countermeasure Systems

The global alcohol sensor market growth will be growingly impressively at 13.5% compound annual growth rate over the forecast period of 2018-2027, growing from USD 605 Million in 2017 to approximately USD 1980 million by 2027, states Market Research Future (MRFR) in a minutely analyzed research report.

Drägerwerk AG & Co. KGaA, BACKtrack Inc., Lifeloc Technologies, Abbot Laboratories, Alcohol Countermeasure Systems (International) Inc., AlcoPro Inc., Giner Labs, Honeywell International Inc., Asahi Kasei Corporation, and Intoximeters Inc.

The report offers insights into the leading market players and presents an assessment of their current market position. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the document.

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Market Snapshot

Global alcohol sensor market stood at more than 600 Mn in 2017 and is expected to exhibit a healthy surge over the next couple of years. Alcohol sensors are commonly known as breath analyzers or breathalyzers. There has been a substantial increase in alcohol consumption all over the world, which has also contributed to the rise in drink-and-drive incidences. Governments in various countries are enforcing laws to prohibit excessive drinking and drinking in public places or restricted areas. Authorities are increasingly relying on technologies that can help them in testing people (positive or negative), especially drivers with regards to alcohol consumption. This is creating lucrative opportunities for the global alcohol sensor market. The market is projected to exhibit a double-digit CAGR between 2017 and 2027. Demand for breathalyzers have increased in emerging markets owing to rising alcohol consumption rates, which is necessitating a greater stringency and control over liquor use.

Report Synopsis

This MRFR perspective contains a very precise assessment of the alcohol sensor market made by MRFR semiconductor and electronic analysts. It offers a nine-year (2018-2027) market forecast and an analysis of major market elements such as drivers, opportunities, new revenue pockets and threats. All the important parameters that are guiding the growth trends of the market have been discussed in the report. The scope of the discussion also extents to three primary end-user categories, which include law enforcement agencies, commercial and individuals. The two major application areas for alcohol sensors mentioned in the research document include vehicle controlling and healthcare application. Revenue analysis based on primary alcohol sensor technologies covers semiconductor oxide sensor technology and fuel cell technology.

Regional Analysis

The key markets of the global alcohol sensor market include North America, Asia Pacific, Europe, and the Rest of the World. North America commanded the pole position in the global alcohol sensor market in 2017 and stood at USD 215.1 Million. The US, Canada, and Mexico are the key contributors to the North America market. A robust economy, towering incidences of driving under the influence and high adoption of alcohol sensors aid in the expansion of the North America market for alcohol sensors. Moreover, alcohol sensors are widely used in the healthcare sector, law enforcement agencies and in vehicle controlling which is a significant driver.

Asia Pacific is slated to emerge as the fastest growing market for alcohol sensors and capture a CAGR of approximately 15% over the forecast period. China, Japan, and India are the principal contributors to the Asia Pacific market. The untapped markets of the region offer ample scope for expansion. Growing alcoholism and stringent regulations aimed at curbing drunk driving are the driving factors to the Asia Pacific market for alcohol sensors.

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