Worldwide Environmental Sensor Industry is Expected to Reach $2.7 Billion by 2027

The global environmental sensor market size is estimated to grow from USD 1.4 billion in 2021 to USD 2.7 billion by 2027, at a CAGR of 10.3%.

The market has a promising growth potential due to several factors, including the growing adoption of environmental sensors especially air quality and temperature sensors in consumer electronics and government and public utility verticals will drive the demand for this market in the near future.

The major factor restraining the growth of the environmental sensor market is that long-term monitoring of environmental data may lead to the short life span of sensors.

Environmental sensors are widely used to monitor environmental factors and maintain security and safety in various verticals including residential, commercials, enterprises, government and others. However, this requires long-term or continuous monitoring to retrieve data and generate safety alerts.

The market declined in 2020, mainly due to the impact of COVID-19. The supply chains were disrupted in 2020 due to the lockdown imposed by various governments and labor shortages in these industries due to travel restrictions, which would affect the environmental sensor market. Though the market has been impacted in 2020, it is expected to fully recover by 2021.

The temperature sensor is the largest segment of the environmental sensor market by type. There have been several technological advancements owing to COVID-19. Many players offer temperature sensors which is driving the market for environmental sensor market. Furthermore, the rising adoption of temperature sensors in portable devices, technological advancements in sensors resulting in miniature sensors, and increasing demand for residential & smart city projects are a few of the major driving factors for the growth of the market. Furthermore, the temperature is the most monitored parameter among most physical parameters in an industry. The cost of temperature sensors has been declining, and there is increasing development of new types of temperature sensors. This is expected to drive the market for temperature sensors during the forecast period.