Wireless

3 vital trends impacting industrial communication market size

Posted on

The global industrial communication market has thrived successfully in the recent decade as growing adoption of these components in Industry 4.0 has effectively helped increased productivity in major industries. Labor reduction, waste reduction, repeatability, enhanced quality control, and integration with existing business systems have given companies an added advantage by lowering long-term costs, which could indirectly increase product output and revenue.

U.S. Industrial Communication Market Revenue, By Component, 2018 & 2025, (USD Million)
U.S. Industrial Communication Market Revenue, By Component, 2018 & 2025, (USD Million)

 

An industrial communication network is the backbone for any automation system architecture as it can offer powerful means of data exchange, controllability and flexibility to connect to various devices. The use of digital communication networks in industries can also lead to improved end-to-end digital signal accuracy and integrity.

Communication networks like LAN (Local Area Network) or WAN (Wide Area Network) can communicate large amounts of data via limited number of channels. Whereas industrial networking enable implementing various communication protocols between field devices, digital controllers and several automation related software tools and external systems. Therefore modern industries have demonstrated increased adoption of industrial communication networks over traditional LAN and WAN. This has led to industrial communication market size depicting a substantial increase lately.

For instance, according to renowned automation conglomerate ABB, and one of the notable players in industrial communication market, the firm’s revenue increased by 5% to $7,395 million in 2018. This has been credited to the strong growth in robotics & motion, robust performance achieved from electrification products and a steady result owing to industrial automation.

Some of the trends that industrial communication market is being defined by are mentioned below:

  • Long-term application of industrial communication in the industrial automation sector

Growing demand for increased data processing speed will foster industrial communication market size in the automation sector. As industrial operations are becoming more complex and variable, the market has registered immense growth over recent years. Indeed, a greater number of network-based programmable controllers and mechanisms are required within modern industries to attain faster decisions and increased productivity and efficiency.

With network-based automation, companies can also attain increased saving in work force, energy, raw material, better control on product quality and enhanced plant availability and operational safety. In fact, the technology can help in raising the levels of process control & continuity with improved efficiency, eventually bringing potential production figures to the nominal plant capacity by cutting downtime, corrective maintenance and the lack of raw material supply to minimum.

With efficient real-time communication system like PROFIBUS-DP or PA, Fieldbus and more, distributed peripherals such as Input/output (I/O) modules, transducers, drives, valves and operational panels can also communicate with automation systems more accurately.

Thus, with the advent of the automated systems that are based on advanced industrial communication and technology, the automation sector will attain enhanced benefits in terms of maintenance, and increase plant productivity, further augmenting industrial communication market size.

Get a Sample Copy of this Report:https://www.gminsights.com/request-sample/detail/3367

  • S. to emerge as a pivotal revenue pocket for industrial communication market in the forthcoming years

Being a major producer of automation equipment, U.S. is anticipated to drive massive growth in industrial communication market. Citing International Trade Association (ITA) reports, the country is the leading producer of hardware components that are used in automated systems as well as a major supplier to manufacturing or production industries across the globe.

In fact, in 2015, U.S. exported nearly $10.5 billion worth of automation equipment to foreign markets, claims ITA. Sources suggest that supportive government policies and the presence of global automation players like General Electric, Honeywell, Rockwell, Emerson Electric and more will pave the way for industrialization in the region. Additionally, the increasing adoption of Industry 4.0 will boost the demand for the industrial communication technologies in the coming years, successfully proliferating U.S. industrial communication industry size.

  • Wireless communication technologies to enhance industrial operations

Advancements in wireless communication along with growing adoption of advanced tech-based devices will drive the industrial communication industry. The key advantage of wireless systems is that they can be installed in remote locations in an efficient and cost-effective manner. As battery-powered transmitters don’t require wired infrastructure or power supply, they can be installed across areas that are far away from power wiring and wired fieldbus.

They can also be installed in sites where setting up power and cabling systems would be dangerous or too expensive. This flexibility allows use of wireless in both Greenfield projects and ongoing Brownfield projects.

Owing to the low-power nature of Wireless HART devices, users can also operate such equipment for several years without replacing the battery. Moreover, engineering, procurement, and construction contractors and plant owners can increasingly shift to wireless communication technology as it is beneficial in terms of reducing physical fixed infrastructure, managing schedule risk and cost escalation, and reducing space requirements and weight.

According to reports, adopting wireless solutions have reduced commissioning time by 50% for some contractors. The technology further helped in streamlining the design and engineering process, maintaining project schedule and improving user’s ability to manage change on their project. The prominence of this technology is rather overt from the estimate that wireless charging market size is slated to cross $14 billion by 2024.

Moreover, with industry-leading process plants installing wireless infrastructure, industrial communication market size from the wireless communication protocol is estimated to grow at a CAGR of over 22% over 2019-2025.

In a nutshell, it would not be incorrect to quote that industrial communication industry is likely to come up as a highly profitable vertical of the overall electronics cosmos. As per estimates, global industrial communication market size is anticipated to exceed USD 160 billion by 2025.

Author Name :Mateen Dalal

Advertisements

APAC enterprise networking market to register the fastest CAGR over 2018-2024, escalating switch sales to characterize the industry landscape

Posted on

The rapidly growing demand for connected devices across the globe is one of the pivotal factors driving enterprise networking market, given that these devices help facilitate real-time communication. In an effort to cope with and overcome the rapidly rising bandwidth bottleneck & network traffic issues, organizations worldwide are embracing network management solutions that keep the traffic flowing while also ensuring network security. The exponential surge in the number of IoT-enabled devices has drastically increased security risks, on the grounds of which organizations are rolling out enterprise network security solutions to obtain visibility of endpoints and unsecured applications & devices.

Europe Enterprise Networking Market Size, By Product, 2017 & 2024 (USD Million)
Europe Enterprise Networking Market Size, By Product, 2017 & 2024 (USD Million)

According to a 2018 Enterprise Networking Trends report by Cisco, the company in 2017 had redefined networking with the launch of the first intent-based networking system in the world. The company anticipates that going further, intent-based networking would be the future of networking and would also be responsible for fundamentally changing the way companies think about networks & empowering IT and help the firms with disruptions caused by IoT & cloud.

Enterprise networking market trends are also expected to witness a transformation on account of changing customer preferences toward converged network architecture as well as the network virtualization technology to strengthen the network functions. Shifting user inclination has further enabled organizations to enhance network efficiency at reduced operational costs, which would provide renewed growth prospects for enterprise networking market.

Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/2978

Unveiling Asia Pacific enterprise networking market trends:

APAC enterprise networking market is primarily driven by the large-scale adoption of cloud-based infrastructure in the region as the organizations are actively transferring their workloads onto the public cloud. According to a report by the not-for-profit organization, Cloud Security Alliance (CSA), in APAC, Japan, South Korea, Singapore & China are some of the primary nations that have witnessed the highest cloud adoption rate in 2017. The rising prominence of the cloud computing environment has further enabled network architectures that are disparate in nature to contribute to the increasing operational burden. These circumstances have led to a significant rise in demand for virtualization technology which makes the computing environment more agile, effectively addressing the growing network demands.

According to a research report by IT security company, Barracuda Networks, approximately a third of enterprises in the APAC region have already rolled out SD-WAN on a majority of their sites, while more than 55% organizations in the region are in the process of adopting SD-WAN. Propelled by the robust deployment of advanced networking solutions, APAC enterprise networking market is expected to depict the fastest growth rate of 8% over 2018-2024.

Analyzing enterprise networking market trends in terms of switch sales:

In an effort to keep up with the rising need for organizations to facilitate secure & real-time communications while effectively managing network traffic & bandwidth bottleneck issues, enterprises heavily rely upon high-speed ethernet switches. Switching is a crucial networking technology that is used across several organizations’ premises to construct their local area networks (LANs) and also across vast distances to facilitate wide area networks (WANs) making switches one of the most widely used networking equipment across the world. According to a 2017 annual report by Cisco Systems, the company witnessed a 5% increase in revenue (approximately $452 million) from the sales of LAN fixed-configuration switches. The increase in the revenue was primarily due to the boost in sales of the company’s Nexus & Catalyst series of switches.

According to a 2017 report by Forbes, in 2016 Cisco System’s network switches division was responsible for approximately 40% of the product sales, representing more than 30% of the company’s net revenue. Switches, having accounted for more than 25% of the enterprise networking market share in 2017, are expected to continue adding momentum to the industry growth, given the surging demand for high-speed data services that has fueled the adoption of network switching technology.

Attributing to the increasing network capacity needs across several global enterprises, the growth graph of enterprise networking market is projected to witness an exponential incline in the years ahead. According to Global Market Insights Inc., enterprise networking market size is expected to be pegged at a mammoth $90 billion by 2024.

Author NameAkshay Kedari

Smart lighting market to register a double-digit CAGR over 2018-2024, escalating number of smart city projects to augment the industry growth

Posted on Updated on

As the lighting industry progresses from incandescent bulbs to CFLs and LEDs, smart lighting market has made its way as the next trending vertical. The vast expanse of this sphere can be aptly demonstrated by an incidence that occurred in Toronto a couple of years ago. A newly constructed building that nearly became a feather in the crown for the Toronto financial district, the EY Tower, made it to the headlines for offering IP addressable LED lights that tenants can control with internet-based building automation. The instance of EY Tower is of particular interest to the smart lighting industry as it demonstrates the steady presence of one of the most important forces, the real estate sector, into the smart cosmos.

Smart Lighting Market Size, By Light Controls, 2017 & 2024 (USD Million)
Smart Lighting Market Size, By Light Controls, 2017 & 2024 (USD Million)

In order to lure tenants with modern technology and convince them to pay premium rents, other prominent real estate developers around the world have also followed the strategy adopted by the Canadian builders of EY Tower. One such instance is the retrofitting of the Torre Europa with Power over Ethernet (PoE) lighting. In the project that has been undertaken by Philips and Cisco, 14 floors will be equipped with 5,400 PoE luminaires.

Advocates of such retrofitting of buildings with smart lighting technologies have pointed out the twofold advantage of the undertaking. It drastically reduces the cost of new wiring by virtually eliminating the need for certified electricians. This is because the low voltages that are capable of driving LEDs can travel safely over Ethernet and do not require the more-costly processes associated with installing conventional 120 Volt and 240 Volt electrical wires. The chief attraction of using smart lighting in buildings however, lies in the fact that connecting luminaires directly into information networks makes it possible to control the ‘switch on and off’, color temperature, brightness and hues via gadgets and sensors. It also turns lights into nodes that can trigger other operations such as adjusting the heating, and that can collect data about building use and assets. PoE is one of several technologies emerging to make lighting a crucial part of the Internet of Things (IoT). The novelty of the technology and the ease with which it can be controlled even remotely has majorly propelled smart lighting industry trends.

Get a Sample Copy of this Reporthttps://www.gminsights.com/request-sample/detail/413

The energy efficiency that smart lighting systems can afford is a major factor driving smart lighting industry size. In 2016, in the UN Climate Change Conference, Philips Lighting demonstrated how smart energy solutions work and can make a real difference to climate change. The event showcased the profoundly transforming capabilities of the smart lighting market, including demonstrations that depicted the energy and greenhouse gas saving potential of this one single technology. Indeed, the technology is equipped with the potential to reduce energy demand from lighting by half.

Philips also exhibited that increasing the rate of energy efficiency to 3% can unlock significant economic benefits – close to 6 million new jobs can be created by 2020, fuel costs can be reduced by €2300 billion by 2030 and household energy bills be reduced by one-third. These estimates are evidence enough to testify the robust latitude of smart lighting industry.

With the rapid proliferation of smart cities, smart lighting market is bound to become one of the most remunerative verticals for investors to pour their money in. Netherlands in this case, can be quoted as a bright example of the onslaught of smart cities, as even the smallest of towns in this country have deployed smart lights which can detect motion and switch themselves on and off. Larger cities like Rotterdam and Amsterdam have already installed smart lights on the streets that are not only energy efficient, but also add a swanky edge to the town or city that can make it more lucrative for growth and investments. As the number of smart city projects across the globe increase, providers of smart lighting for city streets are diversifying their services by turning smart street lighting poles into a potential hub for free Wi-Fi, or to sense the quality of air and even to notify police about public aggression or accidents. This shifting focus is more than likely to expedite smart lighting industry outlook in the ensuing years.

One of the simplest drivers that can be credited for the superb projection of smart lighting market is the eagerness of consumers to upgrade to the latest technology. Currently, smart lights are being designed to be controlled with a smartphone or with AI personal assistants such as Siri or Alexa. In consequence, they have become infinitely more attractive to a generation of consumers who not only have the available disposable income to afford smart lighting but also want to own smart homes where the lighting can be controlled with a voice command. With the popularity of smart lighting on the rise in both the industrial and residential sectors, smart lighting industry size is projected to register a remarkable 20% CAGR over 2018-2024.

Author Name : Paroma Bhattacharya

Wired vehicle tracking market to gain hefty proceeds over 2017-2024, favorable government initiatives to drive the industry landscape

Posted on

Vehicle tracking market, in the recent years, has been traversing along a rather lucrative growth path mainly on the cusp of the technological advancements that have taken the automotive industry by storm. The rising need to monitor vehicle movement and the growing awareness regarding the benefits of vehicle tracking in terms of safety are regarded as the key drivers impelling vehicle tracking industry growth. According to reports, this business sphere has been drawing tremendous remuneration with a growing number of companies investing heavily in vehicle tracking systems to better position their business operations.

U.S. Vehicle Tracking Market, By Vehicle, 2016 & 2024, (USD Million)
U.S. Vehicle Tracking Market, By Vehicle, 2016 & 2024, (USD Million)

Speaking of the commercialization potential of this business space, analysts deem that having drawn close to USD 6 billion in terms of revenue in 2016, global vehicle tracking market, quite undeniably is set to be a profitable growth ground for potential stakeholders. It has also been observed that in tandem with the core industry participants, the automakers and governmental bodies have been joining forces to develop products and simultaneously commence promotional campaigning programs to encourage the masses to adopt vehicle tracking systems.

A very recent instance validating the authenticity of the aforementioned statement is that of the Roads and Transport Authority of Dubai mandating the installation of monitoring devices in all the brand new heavy vehicles that will be entering Dubai roads from the month of August. Reports reveal that the move comes on the heels of RTA’s expansion of its vehicle tracking program that will also include more heavy vehicles weighing 2.5 tons and above. The program further requires all the heavy 20-year-old trucks to have a vehicle tracking device installed to monitor over speeding, traffic accidents, driving in prohibited timing or places, sudden braking, reckless driving and over accelerating.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/193

Another significant instance depicting the involvement of government bodies in this business space is that of the Maharashtra local government body and Regional Transport Office (RTO) mandating the installation of intelligent transport systems that comprise panic buttons & a vehicle tracking system. According to reliable reports, more than 3.70 lakh existing vehicles will have to install these systems in the state – this would prove highly lucrative for the regional vehicle tracking industry.

It is prudent to mention that the demand for numerous vehicle types has a pivotal role to play in augmenting the revenue graph of vehicle tracking market. Say for instance, heavy-commercial vehicles have lately been gaining massive traction in this business sphere. As per report in fact, vehicle tracking market share from the heavy-commercial vehicles is likely to register a y-o-y growth of 12% over 2017-2024. This robust growth can be credited to the growing demand for passenger & goods transportation coupled with rising consumer interest in tracking fleet performance.

Further elaborating on the product trends, it has been observed that wired vehicle tracking systems are gaining considerable preference over their wireless counterparts. Analysts deem that the major factor contributing to the growth of wired vehicle tracking market is the cost effectiveness of the product over the wireless units. Moreover, perpetual innovations such as enhanced satellite view and mobile tracking have also been primarily fueling the product adoption, leading to vehicle tracking industry gaining renewed traction.

Connected car trends to propel multi-million-dollar opportunities in vehicle tracking market

With driverless and connected cars garnering mass momentum, vehicle tracking market is certain to amass extensive remuneration in the years to come, given that connected technologies are set to transform the way one commutes, interacts, and communicates with automobiles. Authentic sources in fact claim that the number of cars that will be equipped with embedded connectivity will rise by a whopping 300% over the next five years. In essence, the growing importance of security features and other advanced technologies that help reduce road accidents and fatalities are indeed likely to stimulate vehicle tracking industry share. It is estimated that by the end of 2024, the global vehicle tracking market will surpass USD 11 billion with more and more organizations beginning to dabble in this technology, taking advantage of the changing fleet management landscape.

It is prudent to mention that despite the significant initiatives, there has been an ongoing debate regarding the installation of tracking systems. Nonetheless, vehicle tracking market has been expected to gain exceptional proceeds in the ensuing years, specifically due the contribution of regional governments. That apart, the escalating deployment of the product speaks for itself, and is deemed to push this business space to exceptional heights. As per estimates, vehicle tracking market size will increase at a CAGR of 7% over 2017-2024.

Author Name : Ojaswita Kutepatil

Barcode Printers Market to be strongly characterized by extensive product innovations and strategic alliances, global revenue to exceed USD 3.5 billion by 2024

Posted on Updated on

In recent times, barcode printers market has been witnessing rapid expansion owing to the cutting-edge products being unveiled by prominent industry players and their consistent adoption of strategic growth tactics. Citing an instance of the latest product innovation, Printronix Auto ID Inc., one of the global leaders partaking in industrial barcode printing industry, has launched a high-performance thermal barcode printer, the T6000. Equipped with advanced features such as an enhanced print speed of 14 inches per second, an interactive screen which lowers downtime, postscript and pdf support for complex labelling requirements, and improved RFID capabilities, this product is indeed revolutionary.

It would also be imperative to state that this latest thermal barcode printer seamlessly integrates with any network infrastructure with plug and play facility and comes with unique online data validation process which assists in producing barcodes that eliminate exorbitant compliance fees. Such dynamic and encouraging technological advancements in product development are set to favorably influence the growth prospects of barcode printers market in the upcoming years. According to research analysts, the global barcode printers industry size stood at USD 2.4 billion in 2017.

UK barcode printers market, by application, 2017 & 2024 (USD Million)
UK barcode printers market, by application, 2017 & 2024 (USD Million)

Thermal barcode printers have indeed found commendable traction over the years in various industry domains due to their outstanding thermal transfer technology. Embedded in thermal barcode printers, this technology offers long-lasting labeling applications, which have in turn found extensive usage in printing cards, magazines, posters, picking and shipping labels, receipts, and books. Evidently, the adoption of these printers has had a major impact on barcode printers market outlook. Indeed, thermal-based printers account for more than 65% of the overall industry share and are likely to gain commendable returns in the ensuing years owing to their excellent durability and low operational costs.

Concurrently, the diverse applications of barcode printers are increasingly being deployed in the healthcare industry. Noteworthy applications such as desktop barcode printers in particular, are contemplated as an ideal product for the healthcare industry, as they have helped boost the efficiency and productivity of medical care operations. The product has emerged to be of immense use in hospitals as it offers accurate patient information, enhanced medicine administration, parcel post, specimen collection and identification, shipping/receiving labels and patient identification. The growing demand for products such as barcode-based wristbands for patient identification will thus drive desktop barcode printers market trends over 2018-2024.

Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/147

Meanwhile, it would be well advised to enumerate the challenges that would impede the growth potential of barcode printers industry in the longer run. The vertical apparently, has been marred by the low printing quality of labels, add to it the rising prominence of Radio Frequency Identification (RFID) tags. In the years to come however, these restraints are likely to take on a turn for the better, as companies continue to conduct R&D activities to develop innovative solutions with a high level of reliability.

Speaking of the regional expansion outlook, Europe barcode printers market is likely to garner appreciable return in the coming years. This growth can be primarily attributed to the rising deployment of these products to improve customer experience and visibility. The ability of these systems to enhance efficiency and lower costs incurred through errors in shipping, packing, and manual input enables companies to achieve high Return on Investment (ROI), thereby impelling the regional barcode printers industry share.

This business fraternity is anticipated to witness intense competition among the major industry players such as Printonix Auto Id Inc., Epson America Inc., Toshiba Tec Corporation, Zebra Technologies, Honeywell Scanning and Mobility, Dascom, Printek, Seiko Epson Corporation and Godex International Co. Ltd., etc. In a bid to strengthen their positions across the vertical, companies have been highly vigilant as far as conducting robust collaborations and alliances is concerned, as enumerated by the partnership between the leading barcode printers’ producer, Epson America Inc. and the barcode labeling software manufacturer TEKLYNX International. The alliance features the seamless integration of TEKLYNX barcode label design software and Epson’s inkjet color label printer that would provide GHS-compliant chemical barcode labeling for all the sizes in the manufacturing industry.

As the adoption of lucrative growth tactics among market participants surges in the years ahead, barcode printers industry trends are likely to undergo a major transformation. Having been pegged at a valuation of 3 million units in terms of shipments in 2017, barcode printers market size has been forecast to register a CAGR of 5% over 2018-2024.

Author NameSaif Ali Bepari

Home audio equipment market valuation to surpass USD 20 billion by 2024, driven by the extensive demand for smart speakers and widespread internet penetration

Posted on Updated on

The robust proliferation of smart devices and the evolution of home entertainment systems have led to home equipment market charting a profitable growth path in recent years. Lately, in-house entertainment systems have been witnessing a massive demand, and with the emergence of IoT, Bluetooth and Wi-Fi, the integration of home entertainment equipment with common operating devices like smartphones has indeed depicted a rise, fueling home audio equipment market trends. With the widespread penetration of internet, the home audio equipment industry has evolved to manufacture products that are compatible with all media types available on the internet and can directly stream online content. The expansion of e-commerce has also exponentially increased the availability and affordability of these devices, that has further helped expand the scope of home audio equipment market.

U.S. home audio equipment market size, by technology, 2016 & 2024 (USD Million)
U.S. home audio equipment market size, by technology, 2016 & 2024 (USD Million)

Home entertainment has now reached an all-time high with the growing millennial population, the demands of which have revolutionized the home audio equipment market trends. As the requirement for high definition music systems has increased exponentially in the last decade and consumers have been experiencing the pleasure of increasing disposable incomes, the growth of the home audio equipment market has been on a remarkable increase. Products that are highly priced with explicit sound quality and those that are low priced and easily affordable, have both been gaining traction in home audio equipment market, in major geographies. Consumers in North America and Europe for instance, have been driving the high-priced home audio equipment market with their demand of high quality audio. Bearing evidence to this fact is the popularity of the Airhome concept that is integrated in the building itself. Builders nowadays, are offering to sell homes with the wireless audio system already installed, a phenomenon that can revolutionize the home audio equipment industry.

Get a Sample Copy of this Report:@  https://www.gminsights.com/request-sample/detail/157

The landscape of home audio equipment market has also experienced a revolution with the emergence of the smart speaker. In fact, as is observed, home audio equipment industry is being inundated with devices like Amazon Echo, Sonos One, Google Home, JBL Link and others that can be commanded by the user to play music from the smartphone or cloud. These speakers can also read out a book, check the weather or play the news – a remarkable upgrade from speakers that could only play music from the playlist. The compatibility of audio devices with other smart home devices also determines the salability of the audio device. For instance, audio speakers and sound bars that are compatible with smart TVs with 4K technology are driving the home audio equipment industry growth, as technologically advanced televisions are becoming more popular and affordable and deliver a better overall experience when paired with a good audio system.

Home audio equipment market is indeed observing a major impetus, on account of the growing number of consumers who have large music libraries and demand high definition music players that can access music from online music libraries such as Google Play Music, Amazon Music, Spotify and style Jukebox. Major geographies have been capturing a substantial share of home audio equipment market, with key companies manufacturing an affordable range of products. Renowned home audio equipment industry giants like Bose Corporation, Philips, Yamaha, LG Electronics, Sonodyne, Bowers and Wilkins have indeed taken note of the major growth prospects of this business space and are seemingly ramping up their investments in high-grade technology. This in consequence, would majorly impact home audio equipment market size, estimated to register a valuation of USD 20 billion by 2024.

Author Name : Paroma Bhattacharya

APAC gas sensors market to witness remarkable proceeds over 2018-2024, China to be a major revenue pocket

Posted on Updated on

Gas sensors market is one among the few vibrant business spheres where innovations and technology quite aptly outline the key to profitability and opportunities. The industry participants are thoroughly investing in research activities to bring product improvisations in terms of advancements and sustainability quotients, that in extension is enhancing the product and commercialization matrix of this fraternity.

India gas sensors market, by end-use, 2017 & 2024 (USD Thousand)
India gas sensors market, by end-use, 2017 & 2024 (USD Thousand)

Backing the fact with a recent case in point – Sensirion AG, a leading manufacturer of high-end sensors, has bestowed the marketplace with novel gas sensors that are not only technologically progressive, but are also environmentally viable. As claimed by the experts, Sensirion’s upgraded solutions offer precise air quality information based on some of the major environmental grounds such as VOC content, humidity, carbon dioxide presence, temperature, and particulate matter content. Undoubtedly, such exemplary initiatives undertaken by the renowned giants with regards to environmental sensing have opened up a slew of lucrative opportunities for gas sensors market players, in terms of commercialization and sustainability.

In terms of revenue, Global Market Insights, Inc. reports the global gas sensors industry to have surpassed a valuation of USD 2.5 billion in 2017. Safety measures, of late, have become an integral axiom in the manufacturing space, subject to the stringent regulatory framework regarding workplace safety and health hazards due to poor air quality. Gas sensors industry trends is heavily influenced by the growing governmental initiatives across the world. Companies involved in gas sensors industry are introducing innovative application-specific components that comply with the safety standardization such as CSA and ATEX.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/123

In this regard, it is important to note that majority of these air quality standardizations and norms are implemented in industrial and automotive sectors. For instance, EPA’s Clean Energy Act has already set limits on some of the air pollutants, that is claimed to be hazardous for the environment. The act also gives the EPA the power to limit harmful emissions of air pollutants from sources like utilities, chemical plants, and steel mills. These mandatory roll-outs have left a huge impact on gas sensors market penetration, subject to the fact that these aforementioned sectors are mandated to install gas sensors in the plants to curb air pollution by efficiently regulating harmful emissions.

Asia Pacific to strongly influence global gas sensors market growth

The expanding automobile sector and rising trend of automation across a myriad range of domains are chronicled to be some of the major factors driving APAC gas sensors market size. Reportedly, China and India are anticipated to be the major revenue pockets for APAC gas sensors industry. The growth in these regions can be primarily credited to the phenomenally increasing technological developments with regards to curtailment of hazardous air pollutant emissions.

Allegedly, China has been remarkably incorporating miniaturized and wireless sensors to enable convenient detection of toxic gases. Moreover, the growing urbanization and demand for technologically upgraded products such as E- compressor and E-turbo is further fueling China gas sensors market share. Beijing and Shanghai are touted to be pivotal contributors to the rapidly deteriorating outdoor air quality, that exceeded the set particulate matter concentration by the WHO by a substantial proportion in 2017, which has further impelled China gas sensors market.

However, in parallel to these developments the industry is also facing some major challenges with the exponentially increasing number of CO and CO2 sensors. The overcrowding of these devices has not only impacted the strategic landscape but has also raised a question on the product differentiation and innovations with regards to these sensors. Keeping this into consideration, the market players are vigorously investing in R&D activities to offer a diversified range of products, addressing the innovation and feasibility parameters. Some of the prominent names in the industry include Amphenol Corporation, Dynament, Bosch Sensortec, City Technology, Figaro Engineering Inc., Honeywell International Inc., Teledyne Technologies Incorporated, Trolex Ltd, and Siemens AG.

With the expanding application spectrum of gas sensors industry across a myriad range of sectors including consumer electronics, medical, environmental, petrochemical, automotive, industrial and the increasing trend of wireless and miniatured devices, it is overt for this business space to record commendable gains in the ensuing years. Statistics project the global gas sensors market size to surpass USD 3 billion by 2024.

Author Name : Saipriya Iyer