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(IT-NEWSWIRE.COM, January 13, 2025 ) The gas sensor market is projected to reach USD 3,137.4 million by 2032 from USD 1,621.9 million in 2024 at a CAGR of 8.6% during the forecast period. Growing integration of gas sensors into HVAC systems and air quality monitors and surge in demand for autonomous vehicles are the major factors contributing to the market growth. Gas sensors are used in vehicles to monitor cabin air quality, detect exhaust gases, and ensure compliance with emission standards. Critical gas sensors in the autonomous vehicles detect harmful gases and safeguard passengers in a closed setting. In addition, an increased focus by automakers on developing smart and connected vehicles has amplified the requirement for advanced gas sensing technology, thus giving new opportunity for gas sensor manufacturers.
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The market for holographic segment is expected to grow at the highest CAGR within the forecast period, which reflects the holographic gas sensor's ability to measure with high accuracy. Holographic sensors also offer a significant edge on sensitivity and precision mainly to detect specific gases with very low concentrations, which in this case, is indispensable to industries that require tough standards of safety and the environment. With industries such as chemical manufacturing, aerospace, and healthcare needing more accurate and less intrusive gas detection methods, holographic sensors are seen to be emerging as an apt solution for growth in this area. Additionally, since holographic sensors can perform effectively in hostile environments in which other traditional sensors cannot perform, this factor alone continues to spur adoption of these sensors across different types of applications.
The gas sensor market for smart cities and building automation is expected to hold the largest market share and witness significant growth during the forecast period. Gas sensors are integral to improving air quality, reducing energy consumption, and enhancing overall sustainability as smart city initiatives accelerate globally. These sensors are fundamental for monitoring pollutants like CO2, nitrogen oxides, and particulate matter. This assures urban areas that meet requirements regarding health and safety. Besides, the ability of sensors to be integrated with IoT systems makes it easier for real-time monitoring as well as automatic responses by regulating ventilation systems or informing when gas levels are dangerous for living, thereby promoting urban spaces that are safer as well as more efficient. New York City's Office of Technology and Innovation (OTI) launched the NYC Smart City Testbed Program in October 2023. The program promotes a collaborative approach among city agencies, private companies, and academic institutions to pilot innovative solutions. The first round would be focused on the usage of drones in identifying building flaws that are emitting greenhouse gases and air quality devices that reduce particulate matter. The adoption of these technologies will boost demand for sophisticated gas sensors that are integrated with smart city infrastructures in order to monitor and decrease harmful emissions in urban environments.
Key Market Players:
The key players in the gas sensor market include Honeywell International Inc. (US), MSA (US), Amphenol Corporation (US), Figaro Engineering Inc. (Japan), Alphasense Inc. (UK), Sensirion AG (Switzerland), Process Sensing Technologies (UK), ams-OSRAM AG (Austria), Membrapor (Switzerland), Senseair (US), Nissha Co., Ltd. (Japan), Fuji Electric Co., Ltd. (Japan), Renesas Electronics Corporation (Japan), Danfoss (Denmark), Gasera (Finland), and Infineon Technologies AG (Germany). These players have adopted various organic and inorganic growth strategies such as product launches, expansions, partnerships, collaborations, acquisitions, contracts, and agreements.
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