Environmental Sensor Market worth $2.7 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, June 29, 2021 /PRNewswire/ -- According to the new market research report "Environmental Sensor Market with Covid-19 Impact Analysis by Type (Temperature, Humidity, Air Quality, Water Quality, Integrated, UV, Soil Moisture), Location (Indoor, Outdoor, Portable), Application, Vertical, Region - Global Forecast to 2027", published by MarketsandMarkets™, the Environmental Sensor Market size is expected to grow from USD 1.4 billion in 2021 to USD 2.7 billion by 2027, at a CAGR of 10.3%. Increasing health related concerns due to environmental pollution is the primary factor driving the market growth. Moreover, growing adoption of environmental sensors in consumer electronics and government and public utility verticals will drive the demand for this technology in the near future and is expected to play a vital role in the growth of the environmental sensor market.
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The market has declined in 2020, mainly due to the impact of COVID-19. The supply chain was disrupted in 2020 due to the lockdown imposed by various governments and labor shortages in these industries due to travel restrictions, that affected the environmental sensor market. Though the market was impacted in 2020, it is expected to fully recover by 2021.
Air quality is estimated as the fastest-growing type in the said market during the forecast period
The environmental sensor market for air quality sensors is expected to grow at the highest CAGR during the forecast period. The growth in use of air quality monitoring systems is mainly attributed to rising awareness about indoor and outdoor air pollution levels and taking considerable measures for their control and minimization. Increasing awareness about air pollution among the residential and commercial applications has resulted in the rising adoption of portable air quality monitors and air quality filters. Furthermore, implementation of various government projects such as installation of weather monitoring stations for the purpose of smart city applications is one of the driving factors for market growth.
Consumer electronics and residential vertical are estimated to be the fastest-growing market during the forecast period
The environmental sensor market for Consumer electronics and residential vertical are expected to be the fastest-growing markets during the forecast period. The increasing demand for air quality monitors and filters, temperature sensors, humidity sensors and others in consumer electronics and residential verticals is one of the major driving factors for the environmental sensor market. The growth in the consumer electronics vertical is attributed to the increasing use of environmental sensors in smartphones, tablets, and wearable devices and rise in wireless technologies. Growing concerns over the impact of air pollution and technological advancements, which have resulted in the availability of smart sensors or air quality monitors at low cost is one of the major driving factors for the growth of the market in residential applications
Browse in-depth TOC on "Environmental Sensor Market"
189 – Tables
61 – Figures
231 – Pages
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Asia Pacific is expected to grow at the highest rate
The market in APAC is expected to grow at the highest rate during 2021–2027. The global market players are experiencing increased demand for environmental sensors from countries such as China, Japan, India and South Korea. High investments in environmental sensors by governments in countries such as China and India is also driving the growth of the said market in APAC. Furthermore , growing urbanization, rising disposable income, replacement needs, strict energy regulations, and technological innovations also help to drive the HVAC market, which further creates demand for environmental sensors in APAC.
Major players in the environmental sensor market include Bosch Sensortec (Germany), Sensirion (Switzerland), ams AG ( Austria), OMRON (Japan), Honeywell (US), Raritan (US), Siemens (Germany), Texas Instruments (US), Schneider Electric (France), Amphenol (US) among others.
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