Categories: IT & Communication Technology

Environmental Sensor Global Market By Product Type, By Deployment, By Application, By End User, Opportunity Analysis and Forecast 2024-2033 | Siemens AG, ABB Ltd., Horiba Group, Sick AG, Sensirion AG

Environmental Sensor Market

The Environmental Sensor Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Environmental Sensor Global Market Report 2024, The environmental sensor market size has grown rapidly in recent years. It will grow from $1.77 billion in 2023 to $1.96 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to industrialization, increasing environmental awareness, stringent environmental regulations, government initiatives for pollution control, rising concerns about climate change.

The environmental sensor market size is expected to see strong growth in the next few years. It will grow to $2.86 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to adoption of wireless sensor networks, expansion of smart city initiatives, emphasis on sustainable development, rising demand for real-time environmental monitoring, investments in environmental sensor research and development. Major trends in the forecast period include integration of ai and machine learning in sensor data analysis, growth of wearable environmental sensors, increasing use of drone-based environmental monitoring, development of low-cost sensor solutions, focus on sensor data interoperability.

The rapid adoption of smart cities is expected to boost the growth of the environmental sensor market going forward. Smart cities refer to a technologically modern urban area or city that uses information and communication technology (ICT) to increase operational effectiveness, communicate information to the general public, and enhance the standard of public services and the well-being of citizens. A variety of environmental sensors are installed in smart cities to collect electronic data regarding infrastructure and people, such as smart transportation systems that provide traffic information and automatically pay toll taxes from user accounts, smart energy systems that minimize downtime and damage to the electric grid, and other environmental sensors. For instance, in April 2023, according to the IMD Smart City Index (SCI) Report 2023, published by the International Institute for Management Development (IMD), a Switzerland-based independent university institute, the number of smart cities recorded in 2021 is 141 cities, up from 118 at the time of measurement, a 20% increase in 2019. Therefore, the rapid adoption of smart cities is driving the growth of the environmental sensor market.

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The environmental sensor market covered in this report is segmented –
1) By Type: Temperature, Humidity, Air Quality, Water Quality, Integrated, Gas, Chemicals, Smoke, Ultraviolet (UV), Soil Moisture
2) By Application: Smart Home Automation, Factory Automation, Smart Cities, Automotive Powertrain System, Energy Harvesting, Other Applications
3) By End User: Industrial, Residential, Commercial, Automotive, Government And Public Utilities, Other End-Users

Product innovation is a key trend gaining popularity in the environmental sensor market. Major companies operating in the environmental sensor market are involved in developing new and improved products and adding new features to their products to sustain their position in the market. For instance, in April 2023, Zebra Technologies Corporation, a US-based mobile computing company for technology to sense, analyze, and act in real-time, launched the ZS300 sensor, the ZB200 bridge, and the Android Sensor Discovery app, a new line of environmental sensors to increase visibility in the food, pharmaceutical, and healthcare sectors. The ZB200 bridge seamlessly transfers data from several Zebra electronic sensors to the cloud for immediate visibility.

The environmental sensor market report table of contents includes:
1. Executive Summary