The Global Environmental Sensor Market size is expected to reach $2.3 billion by 2027, rising at a market growth of 8.4% CAGR during the forecast period.
Environmental sensors are used to measure, monitor, and record variables like humidity, temperature, and heat loss in the environment. Air pollution monitoring, consumer electronics, smart homes, and other gadgets all employ environmental sensors. With expenditures directed in R&D, and testing toward the environmental sensor, the environmental sensors sector is predicted to create moderate income in the next years. Environmental sensors, on the other hand, are nearing maturity and are projected to provide moderate revenue for important companies in the future.
COVID-19's continued expansion has become one of the world's most serious economic risks, bringing widespread anxiety and economic suffering for consumers, businesses, and communities throughout the world. The "new normal," which includes social isolation and working from home (WFH), has produced difficulties with daily activities, routine work, requirements, and supplies, resulting in missed prospects and delayed projects.
The COVID-19 pandemic has had a global influence on society and the economy. The outbreak's impact on the supply chain has been growing day by day. This has caused stock market uncertainty, as well as lowered corporate confidence, hindered supply chains, and heightened customers worry.
A sensor is equipment that uses modern wireless technology to perceive its surroundings and transmit real-time data. Sensors are crucial in factories and automation because they connect different devices and systems and allow machines to interact in order to track systems and equipment. Sensors are categorized according to their appropriateness and use. Some sensors are mass-produced, while others are tailored to meet the needs of the customer. The medical, industrial, racing, aerospace, and agriculture industries all use sensors like location, pressure, light, flow, force, temperature, and ultraviolet (UV) sensors.
Pollution is a problem in cities and towns, and it is produced by the introduction of pollutants into the environment, which causes detrimental changes in the ecosystem. As people become more aware of the dangers posed by harmful gas emissions from various businesses, the usage of environmental sensors has become more regulated in keeping record of water and soil contamination. Various governments throughout the globe have enacted tight guidelines and laws encouraging the usage of environmental monitoring systems, which is driving the market for environmental sensors.
Environmental sensor specifications vary depending on the application and technology employed. These sensors must meet strict size and power consumption standards in consumer electronics applications. Integrating many different sensors with consumer applications, like smartphones, becomes extremely challenging in such instances. In addition, if the industry or sector changes, the sensor's specifications alter as well. For example, gas sensing characteristics in the automobile sector differ from those in the oil and gas business; as a result, gas sensor quality standards in advanced applications become crucial.
Based on Type, the market is segmented into Temperature, Gas, Humidity, Pressure, and Others. The Gas segment held a significant revenue share of the overall environmental sensor market in 2020. This is because toxic gases in the environment are also responsible for one out of every four deaths, and they have an impact on children’s health. In 2016, over 7 million people died as a result of indoor and outdoor pollution, making it the fourth leading cause of mortality worldwide. As a result, current structures, industries, officials, and institutes are well-equipped with effective and precise gas sensors.
Based on End User, the market is segmented into Commercial, Residential, Government & Public Utilities, Automotive, Industrial, and Others. The Government and Public utilities segment garnered a significant revenue share of the overall environmental sensor market in 2020. This is due to increased concerns over extreme environmental conditions, which has led to governments in numerous nations pushing the establishment of weather monitoring sites. Increased demand for environmental sensors has resulted from the rise in weather monitoring stations in smart city initiatives in the government vertical, as a result of increased government programmes such as smart cities.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 1.4 Billion |
| Market size forecast in 2027 | USD 2.3 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 8.4% from 2021 to 2027 |
| Number of Pages | 216 |
| Number of Tables | 314 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
|
| Restraints |
|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific emerged as the dominating region. This is due to factors such as the rising usage of smart devices in APAC, which paves the path for the increasing penetration of environmental sensors in these smart devices.
Free Valuable Insights: Global Environmental Sensor Market size to reach USD 2.3 Billion by 2027
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Honeywell International, Inc., ABB Group, Texas Instruments, Inc. are the forerunners in the Environmental Sensor Market. Companies such as Amphenol Corporation, Robert Bosch, and Schneider Electric SE are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH (Bosch Sensortec GmbH), ABB Group, Texas Instruments, Inc., AMS AG, Honeywell International, Inc., Omron Corporation, Schneider Electric SE, STMicroelectronics N.V., Amphenol Corporation, and Sensirion AG.
By Type
By End User
By Geography
The environmental sensor market size is projected to reach USD 2.3 billion by 2027.
Usage in the industrial and manufacturing sectors are driving the market in coming years, however, advanced sensor applications have strict performance requirements limited the growth of the market.
Robert Bosch GmbH (Bosch Sensortec GmbH), ABB Group, Texas Instruments, Inc., AMS AG, Honeywell International, Inc., Omron Corporation, Schneider Electric SE, STMicroelectronics N.V., Amphenol Corporation, and Sensirion AG.
The Temperature market acquired maximum revenue in the Global Environmental Sensor Market by Type 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $630.2 Million by 2027.
The Asia Pacific market dominated the Global Environmental Sensor Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $905.3 Million by 2027.
Unique Offerings Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
