The report "Gas Sensors Market by Gas Type (Oxygen, Carbon Monoxide,
Carbon Dioxide, Ammonia, Chlorine, Hydrogen Sulfide, Nitrogen Oxide, Volatile
Organic Compounds, Hydrocarbons), Technology, Application, Geography - Global
Forecast 2024", size is
projected to reach USD 1.4 billion by 2024 from an estimated USD 1.0 billion in
2019, at a CAGR of 6.4% from 2019 to 2024.
The
formulation and implementation of various health and safety regulations across
the globe, the increased adoption of gas sensors in HVAC systems and air
quality monitors, and the rise in demand for gas sensors from critical
industries are the major factors driving the growth of the gas sensors market.
Networking of gas sensors through the Internet of Things (IoT), cloud
computing, and big data; rising adoption of gas sensors in consumer electronic
devices, growing involvement of several private and public organizations to
create awareness among the masses about air quality monitoring, and increasing
demand for miniaturized wireless gas sensors across the globe present growth
opportunities for the gas sensors market.
By gas type, the VOC segment of the gas
sensors market is projected to register the highest CAGR between 2019 and 2024
VOC
sensors are used in the automotive, HVAC, and smart cities & building
automation sectors. The market for VOC sensors is expected to grow at the
highest CAGR during the forecast period, due to their rising adoption in
consumer electronics. Increasing awareness regarding the consequences of
pollution on human health is expected to fuel the demand for portable air
quality monitors. This, in turn, is anticipated to drive the growth of the VOC
sensors market.
By connectivity, the wireless segment is
expected to witness a higher CAGR than the wired segment during the forecast
period
By
connectivity, the wireless segment of the gas sensors market is projected to
register a higher CAGR than the wired segment during the forecast period due to
the increasing use of wireless gas sensors in various industries, to detect the
presence of toxic gases and to ensure the safety of their workforce. Wireless
gas sensors are used for continuous monitoring of remote locations in a reliable
and cost-effective manner.
Among applications, the consumer
electronics segment is projected to grow at the highest rate during the
forecast period
Consumer
electronics include smart bands, smartwatches, tablets, and smartphones, among
others. With technologies used in consumer electronics evolving, the
manufacturing of smart consumer electronics devices has also increased. Sensors
create effective human-machine interfaces and play an important role in
improving the performance of a range of consumer electronic devices. Gas
sensors are, therefore, expected to witness increased adoption in consumer
electronic devices in the coming years.
By region, Asia Pacific is estimated to
lead the gas sensors market throughout the forecast period
Consumer
electronics are an important application for gas sensors. According to the
Groupe Speciale Mobile Association (GSMA) Intelligence, APAC has the highest
number of smartphone users in the world. With advancements in gas sensing technologies,
the integration of gas sensors is expected to increase in smartphones, smart
bands, and tablets. This, in turn, will fuel the market for gas sensors in the
Asia Pacific region.
Honeywell
Analytics (UK), MSA (US), Amphenol (US), Figaro (Japan), Alphasense (UK), ams
AG (Austria), MEMBRAPOR AG (Switzerland), Dynament (UK), Sensirion
(Switzerland), Asahi Kasei Corporation (Japan), Nissha (Japan), IDT (US),
Breeze Technologies (Germany), eLichens (France), Bosch Sensortec (Germany),
Edinburg Sensors (UK), GASTEC (Japan), Nemoto Sensor Engineering Company
Limited (Japan), and SPEC Sensors (US) are some of the key players in the gas
sensors market.
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