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Environmental sensor market to grow at CAGR of 9.9% from 2018 to 2023
The environmental sensor market is expected to be valued at USD 1.37 billion in 2018 and is projected to reach USD 2.19 billion by 2023, at a CAGR of 9.9% from 2018 to 2023. Stringent environmental regulations to reduce air pollution and increase in health and safety concerns would upsurge demand for environmental monitoring systems. Long-term monitoring of environmental data may lead to short life span of sensors, which remains to be a major restraint affecting the growth of the environmental sensor market.
Market for portable environmental sensors to grow at faster rate during forecast period
The environmental sensor market for portable environmental sensors is expected to grow at a highest CAGR during the forecast period. Portable sensors are mainly used in handheld devices such as wrist bands, fitness bands, smartphones, and tablets. Due to the increasing use of portable sensors in a few fast-growing applications, it is expected that the market for these sensors would grow at the highest CAGR during the forecast period.
Integrated environmental sensors expected to grow at highest CAGR for environmental sensor market during forecast period
Due to rising interests of government and stakeholders in smart city applications, it is expected that environmental sensors would be used in environmental monitoring activities on a larger scale. Many companies are developing integrated sensors with advanced technologies, such as IoT and Big Data, which helps to analyze the huge amount of environmental and atmospheric data, thus shifting from standalone systems to cloud-based services. Humidity, temperature, dust intensity, and UV radiation sensors are among the commonly used integrated sensors. Environmental sensors have a significant opportunity in the consumer electronics market. In smartphones and wearable devices, various sensors such as temperature, air quality, humidity, gas sensors, UV index, and integrated sensors are used for environmental sensing that can further contribute considerably to the growing popularity of MEMS sensors, considering the vast benefits that environmental sensors have to offer.
APAC to grow at highest rate for environmental sensor market during forecast period
APAC is likely to continue to hold the largest market and expected to be the fastest-growing region in the environmental sensor market owing to factors such as the increasing use of smart devices (e.g., smartphones and smart bands) in APAC paves the way for growing penetration of environmental sensors in these smart devices. Increasing pollution levels in APAC countries is set to drive the growth of the said market. As per World Health Organization (WHO) data, about one-third premature deaths are due to indoor and ambient air pollution. Increasing awareness among people regarding the impact of air pollution on health is creating more demand for air purifiers, air cleaners, air quality monitors, which, in turn, drives the growth of environmental sensor market.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across regions.
The breakup of the profiles of primary participants has been given below:
- By Company Size: Tier 1 = 38%, Tier 2 = 35%, and Tier 3 = 27%
- By Designation Level: C-Level Executives = 32%, Directors = 44%, and Others = 24%
- By Region: North America = 35%, Europe = 30%, APAC = 27%, and RoW = 8%
Major players in the environmental sensor market are Bosch Sensortec (Germany), Sensirion (Switzerland), AMS AG (Austria), Omron (Japan), Honeywell International (US), Raritan (US), Siemens (Germany), Texas Instruments (US), Schneider Electric (France), Amphenol (US), STMicroelectronics (Switzerland), IDT (US), AVTECH (US), Analog Devices (US), Apogee Instruments (US), TE Connectivity (Switzerland), NuWave Sensors (Ireland), Elichens (France), Aclima (US), and Breeze Technologies (Germany).
The report defines, describes, and forecasts the environmental sensor market on the basis of type, vertical, application, location, and regions. It provides detailed information regarding major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the environmental sensor market. It also analyzes competitive developments such as product launches, collaborations, agreements, contracts, partnerships, acquisitions, and expansions carried out by the key players to achieve growth in the market.
Reasons To Buy the Report
- Illustrative segmentation, analysis, and forecast pertaining to the environmental sensor market based on type, vertical, application, location, and region have been conducted to provide an overall view of the market.
- Major drivers, restraints, opportunities, and challenges pertaining to the environmental sensor market have been detailed in this report.
- A detailed competitive landscape of the key players (along with their revenues) in the market has been included in this report.