Environmental Sensor Market 2020 Global Trends Scope, Analysis, Size, Share, Companies, Segments Emerging Technologies And Industry Growth By Forecast To 2023

Market Synopsis

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.

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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.

Key players

The key players in the environmental sensor market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are – Bosch Sensortec GmbH (Germany), Sensirion AG (Switzerland), ams AG (Austria), OMRON Corporation (Japan), Honeywell International Inc. (US), Raritan Inc. (US), ABB Ltd. (Switzerland), Siemens AG (Germany), Texas Instruments Incorporated (US), and Schneider Electric (France). These players contribute a major proportion towards market growth.

Apart from the top key players, there are other players that contribute nearly 35-40 % in the environmental sensor market. These include Amphenol (US), STMicroelectronics (Switzerland), IDT (US), AVTECH (US), Analog Devices (US), Freescale Semiconductor Inc. (US), Apogee Instruments (US), TE Connectivity (Switzerland), NuWave Sensors (Ireland), Elichens (France), Aclima (US), Breeze Technologies (Germany), and others.

Segmentation

By type, the market is segmented into temperature sensors, pressure sensors, water quality sensors, chemical sensors, gas sensors, smoke sensors, humidity sensors, and others.

By end-user, the market is segmented into industrial, commercial, residential, automotive, consumer electronics, healthcare & life sciences, government, and others. The consumer electronics segment is further divided into smartphone & tablet, and wearable devices.

Regional analysis

The global market for environmental sensor is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of environmental sensor market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America). The adoption of sensors for monitoring the environment has significantly been increased due to rising challenges to maintain the quality of air in and around the industrial areas. North America is one of the regions with highest adoption rate of environmental sensors. This is due to a large concentration of manufacturing facilities in the US, and Canada. These facilities were designed with older environment security measures that do not comply with the present regulations for environment monitoring. However, costs involved in upgrading the traditional factories into smart factories is relatively high. Many enterprises have started implementing smart factories, yet small and medium enterprises refrain due to financial constraints and lack of proper infrastructure. With this, the organizations are experiencing need for environmental monitoring since the risk involved in getting penalized by the government for not maintaining an emission standard are rising. US and Canada are the dominating countries in North America growing with a staggering CAGR.

The market of environmental sensors is dominated by Europe. The region has highly economically established countries with a strict environmental policies and regulations. Countries such as Germany and UK are the dominating countries in environmental sensor market. However, Asia-Pacific is expected to grow with a highest CAGR.

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Intended Audience

Consultancy firms and advisory firms
Technology investor and consultants
OEM
Component and material providers
Environmental sensor developers
Sensor product manufacturers and suppliers
Government
Environmentalist
Associations, alliances, and organizations
Analysts and strategic business planners

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This release was published on openPR.