Press release
Environmental Sensor Market: Increasing use of Environmental Sensors in the Industrial and Manufacturing Sectors.
Drivers, Restraints, and Opportunities
Increase in use of environmental sensors in industrial and manufacturing sectors, stringent government regulations on pollution control, and rise in demand of environmental sensors in agriculture sector drive the growth of the global environmental sensor market. However, lack of awareness and limited life span restrain the market growth. On the other hand, surge in smart home initiatives and technological advancements in IoT and cloud-based services create new opportunities in the coming years.
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The Temperature Segment to Maintain Its Leadership Status During the Forecast Period
Based on type, the temperature segment accounted for the highest share in 2020, contributing to nearly one-third of the global environmental sensor market, and is estimated to continue its lead position throughout the forecast period. Moreover, this segment is projected to manifest the largest CAGR of 10.8% from 2021 to 2030. This is attributed to ability to send data in real time with high accuracy rate, compact size of sensors, and wireless connectivity that offers flexible mobility to assess data. The research also analyzes the segments including humidity, pressure, gas, and others.
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The Government and Public Utilities Segment to Maintain Its Dominant Share During the Forecast Period
Based on end user, the government and public utilities segment held the highest share in 2020, contributing to more than one-fourth of the global environmental sensor market, and is projected to maintain its dominant share during the forecast period. This is due to agreements and collaborations with various companies and installation of new sensors under rules and regulations of government jurisdictions. However, the commercial segment is expected to manifest the highest CAGR of 11.9% from 2021 to 2030. This is due to improvement of links between data collection and downstream activities, potential to widen the scope of application systems and fields, and excellent integration of stakeholder engagement and sustainable operations to enable longer and greater societal impacts.
Asia-Pacific, Followed by North America, to Maintain Its Leadership Status By 2030
Based on region, Asia-Pacific, followed by North America, contributed to the highest market share in 2020, holding nearly two-fifths of the global environmental sensor market, and is projected to maintain its leadership status by 2030. Moreover, this segment is expected to witness the fastest CAGR of 11.0% during the forecast period. This is attributed to technological developments in emerging economies and high demand for smart homes in smart cities. The other regions analyzed in the report include North America, Europe, and LAMEA.
Leading Market Players
ABB
Amphenol
AMS AG
Bosch Sensortec
Honeywell International Inc.
Omron Corporation
Schneider Electric
Sensirion
STMicroelectronics
Texas Instruments
Key Benefits for Stakeholders
This study comprises analytical depiction of the environmental sensor market size, environmental sensor market growth along with the current trends and future estimations to depict imminent investment pockets.
The overall environmental sensor market analysis and environmental sensor market outlook is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The present environmental sensor market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
Porter's five forces analysis illustrates the potency of the buyers and the sensor market share of key vendors.
The report includes the market trends, environmental sensor market size and the environmental sensor market share of key vendors.
Environmental Sensor Market Report Highlights
Aspects Details
By Type
Humidity
Temperature
Pressure
Gas
Others
By End User
Industrial
Residential
Commercial
Automotive
Government & Public Utilities
Others
By Region
North America (U.S., Canada, Mexico)
Europe (UK, Germany, France, Italy, Rest of Europe)
Asia-Pacific (China, Japan, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
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Virtual Sensor Market: https://www.alliedmarketresearch.com/virtual-sensors-market-A09819
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