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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
Report ID: MRICT - 104664 Pages: 264 Nov-2022 Formats*: PDF Category: Information and Communications Technology Delivery: 2 to 4 Hours Download Free Sample ReportThe Environmental Sensor Market is projected to reach $13.53 billion by 2029, at a CAGR of 8% from 2022 to 2029. Based on 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. 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 growth of this market. 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 the environmental sensors 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.
Several 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.
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.
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Use of Internet of Things (IoT) Technology and Nanotechnology for Environmental Monitoring Products Offer Opportunities for the Growth of the Environmental Sensors Market
The applications of IoT for environmental monitoring are protection, extreme weather monitoring, water safety, endangered species protection, and commercial farming. In these applications, sensors detect and measure every type of environmental change. Furthermore, nanotechnology deals with matter at dimensions within 1–100 nm. It plays a significant role in sensing pollutants by improving sensor specificity. Due to their large specific surface areas and high reactivities, nanomaterials act as adsorbents, catalysts, and sensors. Nanosensors are used to detect several toxic compounds at ppm and ppb levels in different environmental systems. Nanotechnology-enabled sensors and solutions can detect and identify chemical or biological agents in the air and soil with higher sensitivity.
IoT sensors are used for the online monitoring of water quality, air pollutant concentrations, precipitations, and other environmental parameters. Additionally, they can give accurate real-time data on the various environmental parameters and take action to improve the overall environmental conditions. In 2020, a team from UTS and Ho Chi Minh City University of Technology (HCMUT) launched the first IoT-enabled [AD1] sea environmental monitoring station in Xuan Dai bay (Vietnam). The use of IoT to get real-time data and systematically collect huge data to analyze it further makes environmental monitoring more feasible, thus creating strong growth opportunities for the environmental sensor market.
Based on Type, in 2022, the Particulate & Gas Sensors Segment is Expected to Dominate the Market
Based on type, in 2022, the particulate & gas sensors segment is expected to account for the largest share of the environmental sensors market. 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 are some of the factors driving the growth of this segment.
In addition, the benefits associated with particulate & gas sensors, such as prevention of hazards and explosions, cost-effective installation, accuracy, and real-time updates about leakages, are enhancing the growth of this segment. Several providers are investing in R&D to improve their capabilities and make them more affordable for small and medium-scale enterprises.
Based on Application, the Smart Cities Segment is Expected to Register the Highest CAGR
Based on application, the smart cities segment is expected to register the highest CAGR during the forecast period. The rising environmental pollution levels, increasingly degrading indoor air quality, and growing demand for real-time air quality monitoring sensors to monitor urban air pollution are expected to support the growth of this segment.
Based on End User, the Industrial Segment is Expected to Register the Highest CAGR
Based on end user, the industrial segment is expected to register at the highest CAGR during the forecast period. The growing emphasis on the use of predictive maintenance and remote monitoring, growing demand for industrial automation and IIoT, stringent government regulations regarding pollution monitoring technologies, and rapid industrialization are expected to support the growth of this segment.
Asia-Pacific: The Fastest-growing Regional Market
In 2022, North America is expected to account for the largest share of the environmental sensors market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. However, Asia-Pacific is expected to witness rapid growth during the forecast period. The increasing implementation of environmental monitoring and protection policies by governments and increasing compliance from industrial facilities towards environmental monitoring regulations are supporting the region's growth.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by the leading market participants in the environmental sensors industry over the last four years. The key players profiled in the global environmental sensor 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.).
Scope of the Report
Environmental Sensor Market, by Type
Environmental Sensor Market, by Application
Environmental Sensor Market, by End User
Environmental Sensor Market, by Geography
Key questions answered in the report:
The global environmental sensors market is projected to reach $13.53 billion by 2029, at a CAGR of 8% during the forecast period.
Based on 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.
Based on application, the smart cities segment is expected to register the highest CAGR during the forecast period. The rising environmental pollution levels, increasingly degrading indoor air quality, and growing demand for real-time air quality monitoring sensors to monitor urban air pollution are expected to support the growth of this segment.
The environmental sensors market is driven by the rising installation of environmental monitoring stations, increasing use of environmental sensors in the industrial sector, and stringent environmental regulations to reduce environmental pollution. 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 the environmental sensors market.
At present, Asia-Pacific dominates the global environmental sensors market. However, countries such as China, South Korea, India, and the U.K. are expected to witness strong growth in demand for environmental sensors.
Published Date: Sep-2024
Published Date: Sep-2024
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Published Date: Aug-2024
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