Gas Sensor Market size is Projected to Reach $1,336.2 Million by 2027 | Growing at a CAGR of 6.4%.

Allied Market Research published a report on the Gas Sensor Market by Gas Type(Carbon Monoxide, Methane, Hydrogen, Ammonia, Oxygen, and Others), Technology (Infrared Gas Sensor, Photo Ionization Sensor, Electrochemical Gas Sensor, Thermal Conductivity Gas Sensor, Metal Oxide-Based Gas Sensor, Catalytic Gas Sensor, and Others)and End Use (Defense & Military, Healthcare, Consumer Electronics, Automotive & Transportation, Industrial, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027.

The global gas sensor market size was valued at $823.1 million in 2019, and is projected to reach $1,336.2 million by 2027, growing at a CAGR of 6.4% from 2020 to 2027.

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Increasing demand for gas sensors for various end uses has fueled the gas sensor market growth globally and is estimated to increase further during the forecast period. The competitive advantages of gas sensors over conventional alternatives have been also described in the report. Gas sensors have a wide range of end uses in automobiles such as fuel & ignition, powertrain systems, emission control among others. Gas sensors have ample opportunities in consumer electronics such as in HVAC systems, and wearable devices, which is expected to boost the market growth of gas sensors.

Air pollution is a major problem globally. According to the World Health Organization (WHO), around 80% of the urban areas have recorded air pollution levels that are beyond acceptable values. Therefore, there is a growing concern toward controlling the level of air pollution in the world. Gas sensors are being used in smart cities to monitor air quality in the urban areas as well as residential spaces. IoT-enabled gas sensors are being used to monitor pollution levels especially for smart infrastructures. These smart devices detect pollution levels and send data to the IoT cloud.

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The research report presents a complete judgment of the gas sensor market trends, growth factors, consumption, production volume, CAGR value, attentive opinions, profit margin, price, and industry-validated market data. Also, these research report provides accurate economic, global, and country-level predictions and analysis, size and share analysis, market dynamics, segmental analysis, top investment pockets, competition landscape, market drivers, restraints, and opportunities.

Competitive Analysis:

The gas sensor industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major key players of the global gas sensor market include,

Honeywell Analytics
Sensirion
GASTEC Corporation
Nemoto Gas Sensors
Figaro Engineering Inc
MSA
Alphasense
Membrapor
Amphenol
Dynament

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Top Impacting Factors:

The significant factors impacting the growth of the global gas sensor market include increasing use of gas sensors in the defense & military industry, emerging demand for gas sensors in consumer electronics, and favorable government regulations regarding the use of gas sensors. However, high initial cost of the sensors acts as the major barrier for its adoption, thereby hampering the growth of the market. On the contrary, growing trends toward internet of things (IoT) and rising demand for sensors in the development of smart cities are anticipated to provide lucrative opportunities for the gas sensor market during the forecast period.

High initial cost of the device:

The addition of sensors does help to increase automation in electronic devices; however, it incurs an extra cost and thereafter is avoided in cost-effective end uses. The incorporation of sensors facilitates extra features and makes the devices more automated, although, it incurs some additional cost and thereafter it is avoided in cost-effective application. In devices that are continuously used for a long time, such as smart phones, laptops, and cameras, sensors create heating issues and reduce their overall life as these devices have components, which are temperature sensitive. The devices which use battery as their power source, sensors reduce their battery life as they rely on device battery for their operation.

Key Benefits for Stakeholders:

1) Porter's five forces analysis illustrates the potency of the buyers and the gas sensor market share of key vendors.

2) The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.

3) This study comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets.

4) Major countries in each region are mapped according to their revenue contribution to the global market.

5) The report includes major gas sensor suppliers along with the company overview, business segments, product portfolio, and key strategic moves and development in the market.

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