Gas Sensor Market

Major factors including the growing market for smart cities and increased adoption in HVAC systems are expected to propel the market growth during the forecast period. In addition to this, the applications in industrial hygiene is expected to create new opportunities for the manufacturers of gas sensors. However, high development costs of advanced gas sensors, scalability and reliability issues in deployment of sensors in system on chip are responsible to restrain the market growth during the forecast period.

Cities are growing at a swift pace. The rapid advancements in technology have driven the demand for developing the Internet and communication networks in cities in order to improve operations. Increasing disposable incomes, the growing deployment of cloud technology, the advancements in automotive products, and the growing need for innovative solutions to handle the rising environmental pollution has created a high demand for gas sensors as well as smart sensors due to their capabilities of monitoring carbon emission levels. The increasing urbanization supports the need for gas sensors in smart cities. According to the predictions of the United Nations, about 64% of the developing world, and about 86% of the developed world, will be urbanized by 2050. More people than ever are living in cities, with estimations of an average of 60% of the global population living within 5 km of a city. Cities are constantly growing due to which urban density is continuously increasing. As urbanization increases, it gives rise to many challenges regarding sustainability, pollution, climate change, environment monitoring, livability, and the strain on resources and space. To cope with these challenges, a more appropriate approach is required, such as smart cities where the operations are incomplete without the deployment of gas sensors as an essential component in air purifiers, smart smoke detectors, among others. Therefore, these sensors are widely adopted in coal power plants, oil & gas, consumer electronics devices, automobiles, and others to manage processes efficiently. Gas sensors are used in smart cities for a variety of purposes, such as emission monitoring, fire protection, efficient parking management, weather monitoring, operational control, and also to save energy. Therefore, the growing adoption of smart cities increases the demand for the deployment of gas sensors.

The development in computing and the need for efficient communication has created the demand for an efficient human-machine interaction involving the use of sensors, microcontrollers, software, and a communication system. Also, with the rising adoption of industrial automation, the demand for sensors in industrial hygiene is increased over the past decade. The use of smart gas sensors in industries is expected to help monitor the hygiene and safety of workers. Also, with the increased adoption of the Internet of Things (IoT), it is possible to collect data through sensors for real-time monitoring of workers. Connected devices offer features such as real-time tracking that provides information to the workers regarding changing levels of power supply to a system. With the help of these notifications, alerts, and use of gas sensors, the workers ensure that there are no faults in the system, gas leakages, or leakage of toxic substances. They also help in providing critical product monitoring and refrigeration status in highly regulated industries such as food processing. Giants in the food & beverage industry, such as McDonald’s and KFC, have already embraced the IoT revolution to monitor cooking, cleaning, and storage equipment behind the counter while ensuring better customer experience. In the industrial sector, with the advent of Industry 4.0 and the industrial Internet of Things (IIoT), gas sensors are now being utilized in several smart industries for performing a varied range of tasks. However, rapidly changing technology and the adoption of advanced sensors have significant growth opportunities in the near future.

The semiconductor industry has experienced a major transformation over the years, which has resulted in changing prices of raw materials and variations in supply and demand. The nature of operations has been changing every day with the emergence of new technologies, which could be a major factor that could hamper the growth of the gas sensors market. The demand for higher advancement in day-to-day consumer electronics usages such as smart refrigeration, air purifiers, and industrial operations has developed a need for customized and advanced gas sensors capable of meeting the changing technological advancements. Moreover, MEMS-based advanced gas sensors have witnessed a considerable rise in their adoption rate due to their high adoption in automotive, aerospace, medical, oil & gas, and industrial safety applications. These sensors are highly durable, rugged, and possess and have IoT connectivity as well. Moreover, these sensors can be customized for specific applications during their deployment and integration, which has increased the overall development cost of advanced gas sensors over traditional gas sensors. Advanced components such as diodes and chips are fitted in a compact space that requires additional efforts in designing and manufacturing the sensor. Hence, the high cost of development of advanced gas sensors is one of the major factors hindering the growth of the gas sensors market.