Environmental Sensor Market Poised to Garner Maximum Revenues During 2020 - 2030

Advancement in Technology Foreseen to Drive the Global Environmental Sensor Market from 2020 to 2030

WILMINGTON, DELAWARE, UNITED STATES, May 6, 2024 /EINPresswire.com/ -- The global environmental sensor market share and environmental sensor market size are expected to witness considerable growth, owing to include increasing use of environmental sensors in the industrial and manufacturing sectors and the ongoing technological advancements in IoT and cloud-based services. The global environmental sensor market share was $1.43 billion in 2020 and is projected to reach $3.86 billion by 2030, registering a CAGR of 9.7% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/A12896

The key factor that drives the growth of the environmental sensor market size include the increasing use of environmental sensors in the industrial and manufacturing sectors, stringent government regulations on pollution control, and rising demand for environmental sensors in the agriculture sector are expected to drive the growth of the market in the future. However, lack of awareness and a limited life span. Moreover, growing smart homes initiative and ongoing technological advancements in IoT and cloud-based services create ample opportunities for the environmental sensor market growth.

By type, the environmental sensors market is fragmented into humidity, temperature, pressure, gas, and others. The gas segment was the highest revenue-generating segment accounting for $ 347.4 million in 2020. However, the Temperature segment is expected to witness the fastest growth at a CAGR of 10.8% during the forecast period.

By end user, the market is divided into industrial, residential, commercial, automotive, government and public utilities, and others. The Government and Public Utilities segment was the highest revenue-generating segment accounting for $ 391.7 million in 2020. However, the Industrial segment is expected to witness the fastest growth at a CAGR of 10.8% during the forecast period.

By region, the environmental sensor market analysis is done across North America, Europe, Asia-Pacific, and LAMEA. North America was the highest revenue contributor and was valued at $428.9 million in 2020. This region is further expected to attain a market value of $559.5 billion by 2022, to grow at a CAGR of 8.2%. Moreover, Asia-Pacific is expected to maintain its dominant position during the forecast period.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A12896

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The Environmental Sensor industry's key market players adopt various strategies such as product launches, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐄𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭𝐚𝐥 𝐒𝐞𝐧𝐬𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞,

ABB
Amphenol
AMS AG
Bosch Sensortec
Honeywell International Inc.
Omron Corporation
Schneider Electric
Sensirion
STMicroelectronics
Texas Instruments

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭:

COVID-19 has caused the overall semiconductor industry to mobilize quickly and make short-term decisions with long-term implications. Semiconductor companies operate in a complex ecosystem, working across the value chain with numerous raw materials, assembly, test, package, and equipment suppliers & partners across the globe.

Demand from the wireless communication segment is expected to increase, owing to factors such as rise in broadband usage, higher demand for cloud services, and video streaming. In addition, in the medium to long term, COVID-19 is expected to further push the need for digital transformation and technologies, such as 5G, IoT, AI, and intelligent edge computing, for future optimization.

Some of the environmental sensor companies have witnessed temporary delays in services, increased costs, delays, and revenue losses due to the pandemic.

The manufacturing sector witnessed severe loss, and thus no new orders have been placed during the pandemic. In addition, this impact is estimated to continue till 2021. Moreover, international consumer electronics and electric devices markets are in a very weak state, owing to lockdowns imposed to tackle the pandemic. Although the markets in the U.S. and Europe witnessed mild recovery in the second half of 2020, they are still significantly down on pre-crisis levels. Therefore, the market is facing major obstacles from the emergence of the COVID-19 pandemic.

The overall impact of the pandemic is impacting the production process of several industries, including semiconductors and electronics. Trade barriers are further constraining the demand and supply outlook. The overall production process is adversely affected as governments of different countries have already announced a total lockdown and temporary shutdown of industries.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A12896

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

- The commercial sector is projected to be the major industry vertical during the forecast period.
- North America and Asia-Pacific dominate the market in 2020.
- Asia-Pacific is anticipated to witness the highest growth rate during the environmental sensor market forecast period.
- The U.S. was the major shareholder in 2020 in the North American environmental sensor market.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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