Environmental Sensor Market Size is Set to Value $2.19 Billion by 2023

The Environmental Sensor Market was valued at USD 1.22 billion in 2017 and is expected to reach USD 2.19 billion by 2023, at a CAGR of 9.9% during the forecast period. The base year considered for the study is 2017, and the forecast period considered is from 2018 to 2023. The objective of the report is to provide a detailed analysis of the environmental sensor market based on type, application, vertical, location, and region. The report forecasts the market, in terms of value, for various segments with regard to 4 main regions - North America, Europe, APAC, and RoW. It strategically profiles key players and comprehensively analyzes their rankings and core competencies in the environmental sensor market, along with detailing the competitive landscape for these market leaders.

The research methodology used to estimate and forecast the environmental sensor market begins with capturing data on key vendor revenues through secondary research. Secondary sources used for this research study include government sources and corporate filings (such as annual reports, investor presentations, financial statements, journals, organizations (Air and Waste Management Association, Environmental Protection Agency), associations (African Association for Remote Sensing of Environment, ama-sensorik)). The bottom-up procedure has been employed to arrive at the overall size of the environmental sensor market from the revenue of key players in the market. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have been verified through primary research by conducting extensive interviews with experts such as CEOs, VPs, directors, and executives.

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The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primary respondents has been depicted in the below figure.

Market for integrated environmental sensors to grow at highest CAGR during forecast period

The growth of the environmental sensors market is mainly due to the shifting preference from standalone sensors and integrated sensors widely used to measure humidity, temperature, dust intensity, UV radiation, and other environmental parameters. Increasing demand for environmental sensors in consumer devices, where small size and low power consumption are important aspects to be considered, is the major factor driving the growth of the said market.

Portable environmental sensors expected to account for largest size of environmental sensor market, by location

Due to increasing environmental regulations to reduce air pollution and growing health and safety concerns would increase the demand for portable sensors that are mainly used in devices such as wrist bands, fitness bands, smartphones, and tablets. Due to the increasing use of portable sensors in a few fast-growing applications, it is expected that the market for these sensors would grow at the highest rate during the forecast period.

Consumer electronics vertical to dominate environmental sensor market during forecast period

Consumer electronics vertical is expected to dominate the environmental sensor market. Environmental sensors have a significant opportunity in the consumer electronics market. In smartphones and wearable devices, various sensors are used for environmental sensing. The growth in the consumer electronics vertical is attributed to the increasing use of environmental sensors in smartphones, tablets, and wearable devices. MEMS-based environmental sensors are being implemented in smartphones, tablets, and wearable devices.

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APAC to dominate environmental sensor market during forecast period

APAC is the fastest-growing region in the environmental sensor market. This region is likely to continue to hold the largest market and expected to be the fastest-growing region in the environmental sensor market owing to factors such as the increasing use of smart devices (e.g., smartphones and smart bands) in APAC paves the way for growing penetration of environmental sensors in these smart devices. Increasing pollution levels in APAC countries is set to drive the growth of the said market.

The growth for environmental sensors is also attributed to the increasing demand for these sensors in verticals such as medical and healthcare. APAC is the largest end user for HVAC equipment. Growing construction industry due to increasing population and urbanization drives the HAVC market, which, in turn, creates demand for the environmental sensors market.

Major players in the environemntal sensor market are Bosch Sensortec (Germany), Sensirion (Switzerland), AMS AG (Austria), Omron (Japan), Honeywell International (US), Raritan (US), Siemens (Germany), Texas Instruments (US), Schneider Electric (France), Amphenol (US), STMicroelectronics (Switzerland), IDT (US), AVTECH (US), Analog Devices (US), Apogee Instruments (US), TE Connectivity (Switzerland), NuWave Sensors (Ireland), Elichens (France), Aclima (US), and Breeze Tchnologies (Germany)

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