Redding, California, Sept. 29, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Environmental Sensor Market by Type (Particulate & Gas Sensors, Chemical Sensors, Temperature Sensors, Noise Sensors), Application, End User (Residential, Government & Public Utilities, Commercial, and Industrial) - Global Forecast to 2029,’ the global environmental sensors market is projected to reach $13.53 billion by 2029, at a CAGR of 8% from 2022 to 2029. By volume, the global environmental sensors market is projected to reach 122,800,587 units by 2029, at a CAGR of 8.4% during the forecast period.
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Environmental sensors is used for measuring, monitoring, and recording environmental parameters such as humidity, temperature, and heat loss. It is widely used in air pollution monitoring, smart home, consumer electronics, and other devices.
Several industries and organizations, including government and public utilities, residential, and commercial, are deploying this technology on a considerable scale. The rising installation of environmental monitoring stations, increasing use of environmental sensors in the industrial sector, and stringent environmental regulations to reduce environmental pollution are the key factors driving the growth of the environmental sensors market. However, the lack of awareness and high costs associated with environmental sensors challenge the market's growth. In addition, the ongoing technological advancement in IoT and cloud-based services and the growing adoption of nanotechnology-based environmental monitoring products are expected to offer significant growth opportunities for this market.
Impact of COVID-19 on the Environmental Sensor Market
The COVID-19 pandemic adversely impacted the global economy. Nationwide lockdowns and social distancing norms were imposed across several countries. These negatively affected multiple industries, including the environmental sensors industry. Uncertainty regarding the duration of the lockdowns made it difficult for the key market players to anticipate the recovery of the environmental sensors market.
Numerous providers of environmental sensors were under immense pressure due to the COVID-19 pandemic. However, economies are shifting their focus from responding to the pandemic to economic recovery, and hence, various growth opportunities are expected to emerge for the environmental sensors market players due to the stringent environmental regulations to reduce environmental pollution.
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However, several businesses are exerting extensively to move the environmental sensors market in the right direction. Local governments are also undertaking several relief steps to mitigate the negative impacts of the COVID-19 pandemic. As a result, the environmental sensors market is expected to recover to its original track after 2023.
The global environmental sensors market is segmented by type (particulate & gas sensors, chemical sensors, pressure sensors, humidity & moisture sensors, temperature sensors, noise sensors, and other sensors), application, (smart home automation, factory automation, smart cities, automotive powertrain system, energy harvesting, other applications), end user (residential, government & public utilities, commercial, and industrial), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes regional and country-level markets.
Based on type, in 2022, by value, the particulate & gas sensors segment is expected to account for the largest share of the environmental sensors market. The large market share of this segment is attributed to the increasing integration of gas sensors in HVAC systems and air quality monitors, increasing demand for miniaturized wireless gas sensors, growing air pollution levels, and the need for air quality monitoring in smart cities. Additionally, this segment is also projected to register the highest CAGR during the forecast period.
However, by volume, in 2022, the chemical sensors segment is expected to account for the largest share of the environmental sensors market. The large market share of this segment is attributed to the increase in global energy usage, the growing need to meet and redefine regulatory requirements for monitoring toxins, and the rising use of chemical sensors in the automotive and healthcare industry.
Based on application, in 2022, the factory automation segment is expected to account for the largest share of the environmental sensors market. The large market share of this segment is attributed to the surging demand for smart sensor-enabled wearable devices, rising adoption of industry 4.0 and IIoT, and the growing technological advancements in industrial sensors. However, the smart cities segment is expected to register the highest CAGR during the forecast period. The growing demand for real-time air quality monitoring sensors to monitor urban air pollution is expected to support this segment's growth.
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Based on end-user, in 2022, the industrial segment is expected to account for the largest share of the environmental sensors market. The large market share of this segment is attributed to the rising trend of Industry 4.0, growing demand for industrial automation and IIoT, increasing utilization of gas sensors in the oil & gas industry for process optimization, and stringent environmental regulations to reduce environmental pollution. Additionally, this segment is also projected to register the highest CAGR during the forecast period.
Based on geography, in 2022, North America is expected to account for the largest share of the global environmental sensors market. The presence of prominent players offering advanced environmental sensors to various sectors is one of the major factors driving the growth of this regional market. Furthermore, the growing adoption of advanced monitoring technologies, government investments, stringent government mandates for environment protection, and increasing efforts and initiatives towards protecting the environment are driving the growth of the environmental sensors market in North America. However, Asia-Pacific is projected to register the highest CAGR during the forecast period.
The key players operating in the environmental sensors market are Siemens AG (Germany), Infineon Technologies AG (Germany), Honeywell International Inc. (U.S.), Bosch Sensortec GmbH (Germany), Raritan Inc. (U.S.), TE Connectivity Ltd. (Switzerland), Texas Instruments Incorporated (U.S.), Amphenol Corporation (U.S.), Breeze Technologies (Germany), NuWave Sensor Technology Limited (Ireland), Renesas Electronics Corporation (Japan), Aeroqual (New Zealand), ams-OSRAM AG (Austria), AVTECH Software, Inc. (U.S.), eLichens (France), and Emerson Electric Co. (U.S.).
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Scope of the Report
Environmental Sensor Market, by Type
- Particulate & Gas Sensors
- Chemical Sensors
- Pressure Sensors
- Humidity & Moisture Sensors
- Temperature Sensors
- Noise Sensors
- Other Sensors
Environmental Sensor Market, by Application
- Smart Home Automation
- Factory Automation
- Smart Cities
- Automotive Powertrain System
- Energy Harvesting
- Other Applications
Environmental Sensor Market, by End User
- Residential
- Government & Public Utilities
- Commercial
- Transportation & Logistics
- Education
- Healthcare
- Other Commercial Sectors
- Industrial
- Automotive
- Pharmaceutical
- Oil & Gas
- Consumer Electronics
- Chemicals
- Other Industries
Environmental Sensor Market, by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia and New Zealand
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Israel
- Rest of MEA
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