(IT-NEWSWIRE.COM, January 10, 2020 ) 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.
Download PDF Brochure:-
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.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
Mr. Shelly Singh