Market Overview and Growth Rate
The global environmental sensors market in 2021 was at $1.4 billion that is expected to grow at a compound annual growth rate (CAGR) of 9.25% over the forecast period to $2.17 billion at the end of this period. Pollution rates have been rising annually due to increased emission of greenhouse gases in the atmosphere. This trend is expected to boost the environmental sensors market in the forecast period. Industry 4.0 is also growing, supplementing the growth of environmental sensors market.
The trends in the environmental sensors market include the downsizing the sensor to nanoscale, capability of sensing real time environment, operation on a wireless network, increased sensibility, and fast processing.
Environment monitoring is a helpful technique, required for the protection of the environment and the people from contaminants and poisonous pathogens being released in air, water and soil. Environmental sensors satisfy the requirements of forest fire detection, air pollution monitoring, greenhouse gas, and landslide detection monitoring. Temperature and humidity air quality control are among the many applications of environment sensing technology. With a wide variety of applications, environmental sensors market is expecting a high growth rate. Agriculture and industrial sector fuel the growth of the market.
Environmental sensors market is anticipated to take advantage of smart city initiatives and multiple automation systems. The promotion of smart homes along with the initiative of building green is targeted to protect the environment by aiming to reduce carbon footprints, saving on the consumption of natural resources, incorporating renewable energy sources for power and providing a comfortable indoor environment. With the support of government initiatives and customer demand, the concept of green building is gaining recognition. Environmental sensors are important devices to monitor safety of the environment. Dire need of tackling the degradation of pollution is forcing the government to regulate pollution by launching initiatives to protect the environment. These initiatives drive the demand for environmental sensors.
Impact of Covid-19 on the Environmental Sensors Market
Sensors connect the user with the environment. Sensors provide a sense of security to the user. Covid-19 has brought the world into a standstill shattering the future prospects of various businesses. Economy has been badly hit. The worldwide lockdown entirely disrupted the supply chain temporarily halting several businesses. Among these damages, sensors market has come out without severe damages and it is expected that the market growth will surge in the coming years due to growing concerns of safety and environment among individuals. Environmental sensors detect and monitor the nearby environment of the individual assuring the user of his surroundings. It is expected that the coronavirus effect for the sensors market will be positive in the coming years.
Environmental Sensors Market – Market Dynamics
In 2018, Omron had launched a USD type version of its environment sensor named 2JCIE. The product was designed to sense a range of environmental conditions. It featured connectivity via Bluetooth or USB. The sensors combines humidity, light, barometric pressure, VOC, and sound sensors along with 3-axiz accelerometer.
In April 2018, a new product by the name SGPC3 was developed by Sensirion. It is an ultra-lower gas sensor. It detects indoor air quality for battery driven applications or mobile. They had the capability to determine alcohol content through individual’s breathe and recognize various smells.
Related to mergers & acquisitions, TE Connectivity has made the announcement of the acquisition of American Sensors Technology.
Environmental Sensors Market – Market Segmentation
Environmental Sensors Market – Segmentation Growth
By Product type, ultraviolet and temperature segment are expected to register the highest compound annual growth rate (CAGR) over the forecast period among others.
By Technology, in the global environmental sensors market, the segments in the technology segmentation which are expected to growth at the highest compound annual growth rate (CAGR) are remote sensing technology segment and GPS technology segment.
By End User, earlier in the year 2017, consumer electronics segment, and industrial and commercial segment held the majority of the environmental sensors market share.
Environmental Sensors Market – Geographical and Regional Presence
The global market has been divided into five major key region: North America, Latin America, Europe, Asia Pacific, Middle East and Africa.
Asia Pacific is the industrial hub of the world with China being the leading manufacturer. Asian countries have been industrializing on a large scale. Therefore, the environmental sensors market in Asia Pacific regions holds a significant share in the global market. Consumer Electronics and Pharmaceuticals companies are targeting the Asia Pacific region to run operations and manufacturing units. Environmental sensors market is expected to prosper in the region over the forecast period. The CAGR in the Asia Pacific region is expected to be in double digits. Market in Asia Pacific region is also driven by water scarcity, expensive fresh water and immediate need to control air pollution.
North American market is expected to succeed Asia Pacific in terms of market share in the forecast period due to the technological advancements in the local countries. The market in the European and Middle East & Africa region is expected to grow owing to the government initiatives for environment protection.
Environmental Sensors Market – Competition in the marketplace
The key strategy applied by the major players involve collaboration, or mergers & acquisitions with their competitors to enhance the output of both the players.
There is an intense competition in the global environmental sensors market based on price. The market of developed countries is being penetrated by the local players of developing countries by offering efficient environmental sensors at an affordable rate.
The market in being hindered by counterfeits and illegal infringement of technology which has already been patented. This causes tension among the competitors and brings fierce competition in the marketplace.
Environmental Sensors Market – Key Players
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Environmental Sensors Market, By Product Type
6.1.6 Market Size Estimations & Forecasts (2019-2024)
6.1.7 Y-o-Y Growth Rate Analysis
6.1.8 Market Attractiveness Index
6.2 Environmental Sensors Market, By End-User
6.2.2 Waste Water Management
6.2.4 Industrial Manufacturing
6.2.5 Consumer Electronics
6.2.6 Market Size Estimations & Forecasts (2019-2024)
6.2.7 Y-o-Y Growth Rate Analysis
6.2.8 Market Attractiveness Index
6.3 Environmental Sensors Market, By Technology
6.3.2 Remote Sensing
6.3.4 Terrestrial Sensing
6.3.5 Monitoring Technologies
6.3.6 Market Size Estimations & Forecasts (2019-2024)
6.3.7 Y-o-Y Growth Rate Analysis
6.3.8 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Product Type
7.2.3 By End-User
7.2.4 By Technology
7.3.1 By Country
184.108.40.206 Rest of Europe
7.3.2 By Product Type
7.3.3 By End-User
7.3.4 By Technology
7.4 Asia Pacific
7.4.1 By Country
220.127.116.11 South Korea
18.104.22.168 South East Asia
22.214.171.124 Australia & NZ
126.96.36.199 Rest of Asia-Pacific
7.4.2 By Product Type
7.4.3 By End-User
7.4.4 By Technology
7.5 Latin America
7.5.1 By Country
188.8.131.52 Rest of Latin America
7.5.2 By Product Type
7.5.3 By End-User
7.5.4 By Technology
7.6 Middle East and Africa
7.6.1 By Country
184.108.40.206 Middle East
7.6.2 By Product Type
7.6.3 By End-User
7.6.4 By Technology
8. Key Player Analysis
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.4 Analog Devices
8.5 TE Connectivity
8.6 Honeywell International
8.7 Texas Instruments
8.8 Lockheed Martin
8.9 Omron Corporation
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures