Integration of IoT to Boost Proliferation of Gas Sensors Market
Market Synopsis:
Gas sensors are used to detect the concentration of gas in the atmosphere. It is generally used for the detection of toxic gases such as carbon monoxide, nitrogen oxide, chlorine, etc. The global gas sensors market, according to this analysis presented by Market Research Future MRFR, unravels that it is anticipated to expand at an accelerated pace at 7% CAGR during the forecast period 2017 to 2023. It is poised to touch a decent valuation by 2023.
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Increasing use of gas sensors for the detection of oxygen is presumed to resonate strong growth potential for the market players. It is expected to catalyze the growth rate of the gas sensors market in the foreseeable future. Also, the introduction ad large-scale adoption of MEMS based sensors is likely to revolutionize the growth pattern of the gas sensors market over the assessment period. The integration of IoT in the applications of gas sensors is prognosticated to play a crucial role in the proliferation of the gas sensors market. Technological advancements are projected to the push the market on an upward trajectory.
The development of electronics with gas sensors such as wearable devices is anticipated to accelerate revenue growth of the gas sensors market. It is expected to have a favorable impact on the expansion of the market. Also, the rising gas exploration activities in the oil & gas industry is prognosticated to support the proliferation of the gas sensors market across the review period. The oil & gas industry is a major end-user and its growth poised to influence to drive the growth of the gas sensors market in the upcoming years.
Market Segmentation:
On the basis of technology, the Gas Sensors Market has been segmented into electrochemical, solid state/metal oxide semiconductor, photoionization detectors, catalytic, laser, holographic, infrared, zirconia and others.
Bsaed on gas type, the gas sensors market has been segmented into oxygen, carbon dioxide, ammonia, carbon monoxide, chlorine, hydrogen sulfide, volatile organic compounds, methane, nitrogen oxides, hydrogen and hydrocarbons.
On the basis of application, the gas sensors market has been segmented into water & wastewater treatment, oil & gas, automotive & transportation, food & beverages, medical, metals & chemicals, consumer electronics, environmental monitoring, power stations, mining, and others.
Competitive Dashboard:
City Technology Ltd (U.K), Alphasense (U.K), Dynament (U.K), Amphenol Corporation (U.S.), ams AG (Austria), SenseAir AB (Sweden), Bosch Sensortec (Germany), Figaro Engineering Inc. (Japan), Sensirion AG (Switzerland), Membrapor AG (Switzerland), and MSA (U.S.) are some of the major participants of the global gas sensors market. These players are expected to invest in product development and product launches over the next couple of years. This, in turn, is projected to catalyze the competition in the global market place in the upcoming years. It has also been assessed that technological advancements are poised to elevate the current status of the gas sensors market in the years to come. These players are focusing on the expansion of their global footprints to enhance their market positions. It is anticipated to intensify competitiveness. Other growth strategies presumed to be witnessed in the market are - collaborations with end-users, partnerships, mergers and acquisitions, alliances, and agreements.
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Regional Analysis:
The global gas sensors market has been assessed on the basis of major regional segments. A country-based assessment of these regional segments is also included in the report. The regional segments identified are - Asia Pacific (APAC), North America, Europe, and the Rest of the World (RoW). Asia Pacific, among these regions, is prognosticated to dominate the market on the global front. Increasing investments for adoption of advancing technologies in industrial applications is anticipated to drive the growth of the gas sensors market. Also, the growth of the electronics industry is anticipated to accelerate market growth in the region.
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