“Health and safety concerns would upsurge demand for environmental monitoring systems to drive the market during the forecast period”
The global environmental sensor market size is estimated to grow from USD 1.4 billion in 2021 to USD 2.7 billion by 2027, at a CAGR of 10.3%. The market has a promising growth potential due to several factors, including growing adoption of environmental sensors especially air quality and temperature sensors in consumer electronics and government and public utility verticals will drive the demand for this market in the near future.
The major factor restraining the growth of the environmental sensor market is that long-term monitoring of environmental data may lead to short life span of sensors. Environmental sensors are widely used to monitor environmental factors and maintain security and safety in various verticals including residential, commercials, enterprises, government and others. however, this requires long-term or continuous monitoring to retrieve data and generate safety alerts. Many of the aforementioned verticals require long-term monitoring in order to detect threat due to environmental changes. But continuous monitoring can degrade the quality and performance efficiency of the sensors and thereby reducing their life span. All these factors may result in a reluctance to deploy sensors at various verticals. This is expected to impact the environmental sensor market negatively in the coming years.
The market declined in 2020, mainly due to the impact of COVID-19. The supply chains were disrupted in 2020 due to the lockdown imposed by various governments and labor shortages in these industries due to travel restrictions, which would affect the environmental sensor market. Though the market has been impacted in 2020, it is expected to fully recover by 2021.
“Temperature sensor: The largest segment of the environmental sensor market, by type”
Temperature sensor is the largest segment of the environmental sensor market by type. There have been several technological advancements owing to COVID-19. Many players offer temperature sensors which is driving the market for environmental sensor market. Furthermore, the rising adoption of temperature sensors in portable devices, technological advancements in sensors resulting in miniature sensors, and increasing demand for residential & smart city projects are a few of the major driving factors for the growth of the market. Furthermore, temperature is the most monitored parameter among most physical parameters in an industry. The cost of temperature sensors has been declining, and there is increasing development of new types of temperature sensors. This is expected to drive the market for temperature sensors during the forecast period.
“Smart home automation: The fastest growing segment of the environmental sensor market, by application”
The environmental sensor market for the smart home automation application is expected to be the fastest growing segment from 2021 to 2027. Major factors fueling the adoption of smart home automation include energy efficiency, smart home security, remote health monitoring, and connected home ecosystem with productivity and ambient indoor environment needs. The growth in the smart home application is attributed to the increasing use of environmental sensors in various home equipment due to increased technological advancements in IoT and machine learning and the HVAC sector.
“APAC has the largest market share in the environmental sensor market”
The APAC region is expected to dominate the environmental sensor market and is projected to have the largest market share during the forecast period. Also, the region has countries like India, China and Japan where several major players carry out their operations, sales and distribution. China is likely to continue to lead the APAC environmental sensor market as it has been witnessing the rising adoption of environmental sensors. Furthermore, increasing investments in government projects by major countries like China and India is expected to drive market. Further, technological advancements and stringent government regulations for monitoring and controlling pollution is projected to boost market growth. These factors are expected to propel the environmental sensor market in APAC
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies. The break-up of the primaries is as follows:
- By Company Type: Tier 1 – 38%, Tier 2 – 35%, and Tier 3 – 27%
- By Designation: C-level Executives – 32%, Directors – 44%, and Others – 24%
- By Region: North America – 35%, Europe – 30%, APAC – 27%, and RoW – 8%
The report profiles key players in the global environmental sensor market with their respective market share analysis. Prominent players profiled in this report are Bosch Sensortec (Germany), Sensirion (Switzerland), ams AG ( Austria), OMRON (Japan), Honeywell (US), Raritan (US), Siemens (Germany), Texas Instruments (US), Schneider Electric (France), Amphenol (US), STMicroelectronics (Switzerland), Aeroqual (New Zealand), Alphasense (England), AVTECH (US), Analog Devices (US), Apogee Instruments (US), Breeze Technologies (Germany). Develco Products (Denmark), Elichens (France), Figaro Engineering (Japan), NuWave Sensor Technology (Ireland), Renesas (Japan), RioT Technology (Canada), TE Connectivity (Switzerland).
Research Coverage:
The report segments the environmental sensor market and forecasts its size, by value, based on region (North America, Europe, APAC, and ROW), by type (temperature, humidity, air quality, water quality, integrated, uv, soil moisture), Location (indoor, outdoor, portable), application (smart home automation , smart office automation, smart city, and others) and vertical (consumer electronics, enterprise, residential, government and public utility, commercial, healthcare and pharmaceuticals, industrial and others).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the environmental sensor market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the environmental sensor market and provides them information on key market drivers, restraints, challenges, and opportunities.
