Press release
Chemical Sensors Global Market Sales Estimated to Hit $48.68 Billion with CAGR of 9.2% By 2028 | Says The Business Research Company
Chemical Sensors Global Market
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=5439&type=smp
According to The Business Research Company's, The chemical sensors market size has grown strongly in recent years. It will grow from $31.6 billion in 2023 to $34.19 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to industrial growth, increased global chemical trade, growth in chemical manufacturing, regulatory compliance, and increased demand for supply chain efficiency.
The chemical sensors market size is expected to see strong growth in the next few years. It will grow to $48.68 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to increasing use of sustainable chemicals, growing e-commerce and digital platforms, growing adoption of green chemistry, global supply chain resilience, increasing specialty and custom chemicals. Major trends in the forecast period include chemical industry innovation, key players' partnerships, iot adoption, product innovations, and advances in wearable chemical sensors.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/chemical-sensors-global-market-report
Market Drivers and Trends:
The increasing use of chemical sensors in the automotive industry is expected to drive the growth of the chemical sensors market in the forecast period. Automobile traffic is the primary source of exhaust gases. The chemical sensors and measurement technology can aid in improving engine performance, increasing energy efficiency, and lowering pollutant emissions. For instance, in January 2021, Gentex Corporation, a US-based high technology electronics company, introduced nanofiber sensing technology for detecting a wide range of chemicals, ranging from explosives to volatile organic compounds, with applications in a variety of industries including automotive, aerospace, and others. The company is presently working on a variant of this technology with an autonomous vehicle manufacturer to deliver the first smoke detector developed to identify smoke and vape within the vehicle environment. Therefore, the rising use of chemical sensors in the automotive industry propels the chemical sensors market growth.
Artificial Intelligence (AI) is an emerging trend in the chemical sensors market. Artificial intelligence (AI) is increasingly being used in chemical sensors to assist in the identification and quantification of the ubiquitous mix of chemicals that comprise the environment. The ability of novel AI algorithms to seamlessly integrate with chemical sensors for material innovations and robust additive manufacturing technologies is impressive. For instance, in November 2022, King Abdullah University of Science and Technology (KAUST), a Saudi-Arabia-based private research university, engineered a artificial intelligence-based chemical sensor to identify specific gases in the air with high selectivity and sensitivity. This smart electronic chemical sensor is capable of precisely identifying the target gas among the compound mixture of chemicals found in the air and can be used in applications ranging from medical diagnostics to the detection of hazardous industrial gas leakages. Additionally, for each tested gas, specific signature markers are created using data processing and machine learning algorithms to create an accurate and specialized gas categorization model.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Honeywell International Inc., Siemens AG, Halma plc, Denso Corporation, Emerson Electric Co., General Electric Company, Intelligent Optical Systems Inc., SICK AG, Alpha MOS SA, Robert Bosch GmbH, Hans Turck GmbH & Co. KG, Owlstone Medical Ltd., SPEC Sensors LLC, Nemoto & Co. Ltd., SenseAir AB, Freescale Semiconductor Inc., JLM Innovation GmbH, ABB Group, BorgWarner Inc., Smiths Detection Inc., MSA Safety Incorporated, Pepperl+Fuchs Group, AirTest Technologies Inc., Yokogawa Electric Corporation, BorgWarner Inc., Thermo Fisher Scientific Inc., Bayer AG, Pendar Technologies Inc., Intellisense Systems Inc., Lyten Inc., Physical Sciences Inc., GlaxoSmithKline plc, Aerodyne Research Inc., Sensirion AG, City Technology Ltd., Figaro Engineering Inc.
Chemical Sensors Market 2024 Key Insights:
• The chemical sensors market size is expected to see strong growth in the next few years. It will grow to $48.68 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%.
• Elevated Adoption Of Chemical Sensors In The Automotive Sector Boosts The Chemical Sensors Market
• Integration Of Artificial Intelligence (AI) Transforms The Chemical Sensors Market
• North America was the largest region in the chemical sensors market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=5439&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ "
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Chemical Sensors Global Market Sales Estimated to Hit $48.68 Billion with CAGR of 9.2% By 2028 | Says The Business Research Company here
News-ID: 3729817 • Views: …
More Releases from The Business research company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Sensors
Global Automotive Sensors Market, by Product types (Temperature Sensors, Pressur …
Global Automotive Sensors Market was valued at US$ 24.50 billion in 2019 and is projected to reach US$ 49.28 billion by 2025, at a CAGR of 10.5 % during the forecast period. Rising demand of sensors in electric and hybrid vehicles, increased application of pressure sensor in automotive industry, and significant growth in custom designed automotive electronic devices are some of the prime factors that fuel the market growth. Surge…
Global Automotive Sensors Market, by Product types (Temperature Sensors, Pressur …
Global Automotive Sensors Market was valued at US$ 24.50 billion in 2019 and is projected to reach US$ 49.28 billion by 2025, at a CAGR of 10.5 % during the forecast period. Rising demand of sensors in electric and hybrid vehicles, increased application of pressure sensor in automotive industry, and significant growth in custom designed automotive electronic devices are some of the prime factors that fuel the market growth. Surge…
Global Sensor Market, By Product Type (Radar Sensors, Optical Sensors, Biosensor …
Sensor Market 2020 comprises a detailed survey of the Sensor Market size, share, trends, extension, consumption, and share, segments, application and Forecast 2025.
Global "Sensor" Market 2020-2025 Report contains all demographic as well as analytical data regarding market review, growth, demand, and budget analysis. The report mainly highlights the significant trends of the Sensor market in terms of thriving companies, business methods, product values and pricing, revenue, and sales. With the…
Global Sensor Market, By Product Type (Radar Sensors, Optical Sensors, Biosensor …
Sensor Market 2020 comprises a detailed survey of the Sensor Market size, share, trends, extension, consumption, and share, segments, application and Forecast 2025.
Global "Sensor" Market 2020-2025 Report contains all demographic as well as analytical data regarding market review, growth, demand, and budget analysis. The report mainly highlights the significant trends of the Sensor market in terms of thriving companies, business methods, product values and pricing, revenue, and sales. With the…
Fact.Mr Gas Sensors Market Segmented By technology Electrochemical sensors, Cata …
Gas Sensors Market Introduction
The gas sensors are highly sensitive sensing elements, which are connected to the circuits and are powered by the leads. Gas sensors are used in various end-use industries, such as industrial, medical, automotive industries and many other industries, to measure the concentration of gases such as oxygen, carbon dioxide, nitrogen oxide and others in the surrounding. Monitoring the concentration of various gases with the help of gas…
Color Detection Sensors Market to 2017-2025: Luminescence Sensors, RGB Sensors, …
Researchmoz added Most up-to-date research on "Global Market Study on Color Detection Sensors: Color Sensors to Face Intense Competition from Contrast Sensors in the Near Future" to its huge collection of research reports.
A new report on color detection sensors delivers in-depth understanding on the consecutive growth path of the market along with the future scenarios and present situation of the market. The report offers an exclusive analysis of the global…
