Consumer gas sensor market to skyrocket, says study
Inclusion of gas sensor components in home and wearable equipment, and multiple units per equipment, towards the end of the decade could send the global market skyrocketing to about 250 million units in 2020 and 350 million units in 2021, the market research firm claims. By then the annual market for these components will be worth $920 million with a compound annual growth rate (CAGR) of 7.3% over the 2014 to 2021 period.
Gas sensor market, consumer focus, optimistic scenario in millions of units. Source: Yole Developpement.
"Gas sensors embedded in gas detectors for defence and industrial safety applications form a highly regulated and mature market," said Eric Mounier, a senior analyst at Yole, in a statement. But the growing awareness of the air quality is creating opportunities such as gas sensors in home devices, wearables, and smartphones, as well as for buildings and cars, including indoor/in-cabin air quality monitoring.
For example, driven by the need for better energy management, the building market demand for gas sensors will increase; the medical industry is looking for asthma attack and oxygen sensors for breath control; smartphones and wearables are looking for new gas sensors to reduce size, cost and power consumption.
The trough in the "rollercaster" forecast market is because Yole foresees the integration of gas sensors in a major smartphone model in 2016, but its removal, one year later due to the absence of a clear user case. This is similar to the adoption and removal of the humidity sensor in the Samsung Galaxy S4.
Nonetheless this "optimistic" forecast predicts an annual market of 350 million units in 2021.
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