Drive the Demand for Environmental Sensor Technology in the Near Future

Posted July 12, 2022 by ctom7000

Ongoing technological advancements in IOT and cloud-based services and growing adoption of environmental sensors in products such as consumer devices
The global environmental sensor market is estimated to grow from USD 1.4 billion in 2021 to USD 2.7 billion by 2027, at a CAGR of 10.3%.

Key Market Players

The environmental sensor market is dominated by players such as Bosch Sensortec (Germany), Sensirion (Switzerland), ams AG (Austria), OMRON (Japan), Honeywell (US), Raritan (US), Siemens (Germany), Texas Instruments (US), Schneider Electric (France), Amphenol (US).

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Asia Pacific is the leading environmental sensor market in terms of CAGR, globally, by value, in 2020

The market in APAC will grow at the highest CAGR during the forecast period. APAC is likely to continue to hold the largest market size and is expected to be the fastest-growing region in the environmental sensor market owing to factors such as the increasing use of smart devices in APAC that paves the way for the growing penetration of environmental sensors in these smart devices. Increasing pollution levels in countries in APAC are set to drive the growth of the said market. Due to growing government activities to reduce air pollution in countries such as China and India, it is expected that there would be high growth opportunities for the environmental sensor market in APAC.

Temperature sensor is expected to witness the highest market share during the forecast period

The market for temperature sensors is expected to contribute to the largest market during the forecast period. Temperature measurement is most common parameter for monitoring environmental parameters. 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.

Government and public utilities vertical are expected to have the largest market share during the forecast period

The market for government and public utilities vertical is expected to have significantly the largest market share during the forecast period. This can be attributed to rising concerns regarding harsh environmental conditions as a result of which governments in various countries are encouraging the installation of weather monitoring stations. Due to increasing government projects, such as smart cities, it has led to increased demand for environmental sensors due to rise in weather monitoring stations in smart city projects in government vertical. Various government projects in different cities are adopting smart tools and solutions and are catering to the need of rising environmental concerns. This has led to a significant contribution to the market of environmental sensors.

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Issued By Tom
Country United States
Categories Advertising
Tags environmental sensor market
Last Updated July 12, 2022