A new report into the market for environmental sensors and monitoring has highlighted Aeroqual as a leader in the field. According to the latest market study released by Technavio, the global environmental monitoring and sensing market is projected to grow to USD 20.37 billion by 2021, at a CAGR of more than 5% over the forecast period. Titled “Global Environmental Monitoring and Sensing Market 2017-2021” the report was released in April 2017.
Based on the applications, the report categorizes the global environment monitoring and sensing market into the following segments:
- Air segment
- Water segment
- Soil segment
- Noise segment
Of the above segments, the air sensing market is considered the largest. According to Thanikachalam Chandrasekaran, a lead analyst at Technavio: “The environment monitoring and sensing market by the air segment occupied a majority 39% of the overall shares in 2016, and is expected to hold onto its lead through the forecast period”.
The following charts shows a breakdown of the market segments and their corresponding growth rates.
Who are the leaders in Environmental Sensors?
The report identifies Aeroqual, General Electric, HORIBA, In-Situ, and Thermo Fisher Scientific as the leading players in the global environment monitoring and sensing market. The market is becoming increasingly competitive – with local and international competitors fighting for market share. The report’s authors note that regional or local vendors are finding it increasingly difficult to compete against the international vendors in terms of quality, features, functionalities and services.
Air Quality Sensing Market
The key driver for air quality sensing is the emerging trend of monitoring air quality in a designated area to understand the link between the air quality of a particular area and related health indicators. This is leading to increased investment in sensor technologies and subsequent market demand for sensor systems and solutions.
Sensor technology continues to advance. One such technology advancement is the miniaturization of environmental sensors and sensor components. The miniaturization technology used in sensors and sensor components reduces the size of sensors and the cost of materials, lowers the energy usage of sensors and increases the size of distribution networks, which, in turn, will fuel the demand for environment monitoring and sensing equipment in the coming years.
As such Aeroqual is well positioned for future growth in this emerging market opportunity.
Founded in 2003 and headquartered in London, UK, Technavio has offices across North America, Europe and Asia. Covering more than 100 industries across 50 countries, Technavio develops over 5,000 research reports every year. Enterprises of all sizes, including many Fortune 500 companies, rely on these reports for actionable market insights.