Environmental Sensor Market growing at the highest growth during 2021-2027

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%.  Ongoing technological advancements in IOT and cloud-based services and growing adoption of environmental sensors in products such as consumer devices, HVAC, and air purifiers are driving the growth of environmental sensor market. 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.

COVID-19 Impact on the Global Environmental sensor market

The environmental sensor market declined in 2020. This is because governments of several major economies have enforced lockdowns to curb the spread of COVID-19. With lockdown in place, manufacturing activities have been affected significantly. Furthermore, the production and supply chain has taken a significant hit in North America, Europe, APAC, and ROW. This has also resulted in supply chain disruptions in North America. Also, lockdown implemented in other countries caused supply chain disruptions and labor shortages in various applications including consumer electronics. Companies were not able to source the required labor for their operations due to travel restrictions. Even though lockdown restrictions were lifted in many regions, manufacturing companies were unable to get the required workforce due to travel restrictions. These factors have resulted in a significant decline in the environmental sensor market in 2020.

Download PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=36880440

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 is 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.

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.

Request Free Sample Pages:

https://www.marketsandmarkets.com/requestsampleNew.asp?id=36880440

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).