Environmental Sensor Market to be Worth $13.53 Billion by 2029 - Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®

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Nov 09, 2022, 08:40 ET

REDDING, Calif., Nov. 9, 2022 /PRNewswire/ -- According to a new market research report titled, 'Environmental Sensor Market by Type (Particulate & Gas Sensors, Chemical Sensors, Temperature Sensors, Noise Sensors), Application, and End User (Residential, Government & Public Utilities, Commercial, and Industrial) - Global Forecast to 2029,' the global environmental sensors market is projected to reach $13.53 billion by 2029, at a CAGR of 8% from 2022 to 2029. By volume, the global environmental sensor market is projected to reach 122,800,587 units by 2029, at a CAGR of 8.4% during the forecast period.

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Environment sensors play a critical role as they help analyze environmental conditions such as humidity, temperature, detect landslides, track climate change, check agricultural usage patterns, and heat loss. It is widely adopted in several applications such as smart home automation, factory automation, smart cities, automotive, and powertrain system. Besides, advancements in sensor technology, such as sensors integrated with IoT and Big Data technology, are helping in the analysis of large volumes of environmental data. This factor is expected to increase the adoption of environmental sensors.

The growth of the environment sensors market is attributed to the rising installation of environmental monitoring stations, increasing use of environmental sensors in the industrial sector, and stringent environmental regulations to reduce environmental pollution. However, the lack of awareness and high costs associated with environmental sensors challenge the market's growth. 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 this market.

Rising government funding toward environmental sustainability is driving the growth of the environmental sensors market

In the past few years, the importance of decisive actions towards achieving environmental sustainability has become of vital essence around the globe. A few environmental sustainability factors that can be put into practice include protecting renewable resources by supporting and advancing sustainable farming, purchasing carbon offsets to support reforestation and other regenerative projects; avoiding the consumption of fossil fuels by using renewable energy alternatives; and limiting pollution by composting and supporting clean air and water initiatives.

Governments and regional associations across the globe are accelerating their investments toward reducing carbon footprint and building an environmentally sustainable economy. Various green investment banks (GIBs) like the UK Green Investment Bank, Malaysian Green Technology Corporation (GreenTech Malaysia), Connecticut Green Bank, Clean Energy Finance Corporation (CEFC), and California CLEEN Center are focusing on investing and funding projects with the potential to reduce greenhouse gas (GHG) emissions. Some of the developments in this space are as follows:

In 2022, the German government announced plans to invest $4.4 billion (€4 billion) in "natural climate protection" to complement steps to wean Germany off fossil fuels and reduce carbon emissions.
In 2021, the government of Canada invested $150 million in better ventilation for schools, hospitals, and other public buildings. This investment helps to assess, monitor, and improve indoor air quality and ventilation, including upgrades or conversions of heating, ventilation, and air conditioning systems, as well as community-based solutions in Indigenous communities.
In 2021, the U.S. Environmental Protection Agency (EPA) announced the availability of $20 million in competitive grants through the American Rescue Plan (ARP) to enhance ambient air quality monitoring in communities across the U.S.

Thus, government initiatives encouraging the adoption of environmental monitoring products are driving the growth of the environmental sensors market.

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The global environmental sensors market is segmented by type (particulate & gas sensors, chemical sensors, pressure sensors, humidity & moisture sensors, temperature sensors, noise sensors, and other environmental sensors), application (smart home automation, factory automation, smart cities, automotive powertrain system, energy harvesting, other applications), end user (residential, government & public utilities, commercial, and industrial), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at regional and country levels.

Based on type, in 2022, by value, the particulate & gas sensors segment is expected to account for the largest share of the environmental sensors market. The large market share of this segment is attributed to 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. Additionally, this segment is projected to register the highest CAGR during the forecast period.

However, by volume, in 2022, the chemical sensors segment is expected to account for the largest share of the environmental sensors market.

Based on application, in 2022, the factory automation segment is expected to account for the largest share of the environmental sensors market. However, 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.

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Based on end user, in 2022, the industrial segment is expected to account for the largest share of the environmental sensor market. The large market share of this segment is attributed to the growing trends in industrial automation, stringent government regulations regarding pollution monitoring technologies, and rapid industrialization. Furthermore, the use of smart sensors for predictive maintenance and their increasing utilization in the automotive industry are expected to drive this segment's growth over the coming years. Also, this segment is expected to register the highest CAGR during the forecast period.

Based on geography, in 2022, North America is expected to account for the largest share of the environmental sensors market. 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.

Some of the key players operating in the 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.).

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Scope of the Report

Environmental Sensor Market, by Type

Particulate & Gas Sensors
Chemical Sensors
Pressure Sensors
Humidity & Moisture Sensors
Temperature Sensors
Noise Sensors
Other Environmental Sensors

Environmental Sensor Market, by Application

Smart Home Automation
Factory Automation
Smart Cities
Automotive Powertrain System
Energy Harvesting
Other Applications

Environmental Sensor Market, by End User

Residential
Government & Public Utilities
Commercial

Transportation & Logistics
Education
Healthcare
Other Commercial Sectors

Industrial

Automotive
Pharmaceutical
Oil & Gas
Consumer Electronics
Chemicals
Other Industries

Environmental Sensor Market, by Geography

North America

U.S.
Canada

Europe

U.K.
Germany
France
Italy
Spain
Rest of Europe

Asia-Pacific

China
Japan
India
South Korea
Australia and New Zealand
Rest of Asia-Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

UAE
Israel
Rest of Middle East & Africa

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