Global Advanced CO2 Sensors Market - Drivers and Forecast from Technavio

Technavio has published a new report on the global advanced CO₂ sensors market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--Technavio analysts forecast the global advanced CO2 sensors market to grow at a CAGR of close to 50% during the forecast period, according to their latest report.

The research study by Technavio on the global advanced CO2 sensors market for 2017-2021 provides detailed industry analysis based on fitting (wall mount and retrofit), product (non-dispersive infrared (NDIR) and chemical), and geography (EMEA, the Americas, and APAC).

EMEA lead the global advanced CO2 sensors market, generating over 42% of the overall revenue. The increased adoption of CO2 sensors in the automotive industry and rapid industrialization are the major factors influencing the dominance of the market segment.

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Technavio analysts highlight the following three factors that are contributing to the growth of the global advanced CO2 sensors market:

  • Vertical growth in the global construction market
  • Increased demand for locations-based and better air pollution measurement systems
  • Increased demand for submersible CO2 sensors

Vertical growth in the global construction market

The number of skyscrapers being constructed is on a constant rise due to rapid urbanization and economic growth. These large constructions incorporate building automation systems, which creates a high level of demand for CO2 sensors,” says Sunil Kumar Singh, one of the lead analysts at Technavio for embedded systems research.

These sensors function effectively at higher altitudes as well, making them extremely suitable for use in high rise buildings. As the number of skyscrapers is likely to continue its upward trend, the demand for CO2 sensors is also set to increase proportionally.

Increased demand for locations-based and better air pollution measurement systems

Professionals using CO2 sensors are demanding that these systems be calibrated according to their location and altitude of operation to ensure accurate measurements. The increasing adoption of these advanced location-based CO2 sensors is a major factor driving the growth of the market. The growing industrialization and globalization have also resulted in the greater adoption of environment monitoring technologies to keep the carbon footprint of end-users at a minimum. To effective measure the composition of gases in the atmosphere and track the intensity of CO2 in it, the sensors are widely adopted by environmental scientists worldwide.

Increased demand for submersible CO2 sensors

Industrialization is widespread and has created an increased need for environmental monitoring to keep a check on the pollution of water bodies with toxic and contagious substances. To effectively monitor underwater CO2 content, there is an increasing demand for advanced CO₂ sensors that can be used underwater as submersible CO₂ sensors,” says Sunil.

Environmental experts are supported by the governments across the globe to proceed with these initiatives to track the CO₂ levels in water bodies with the help of submersible CO₂ sensors. This is resulting in high levels of adoption of submersible CO2 sensors, thereby driving market growth.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global advanced CO2 sensors market to grow at a CAGR of close to 50% during the forecast period, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com