Latest Owlstone News
Nov 30, 2021
And Change" - https://www.reportlinker.com/p06187351/?utm_source=GNW KG, Owlstone Inc., Spec Sensors, Nemoto, SenseAir AB, Freescale Semiconductor Inc., and JLM Innovation GmbH. The main types of products in chemical sensors are electrochemical, optical, pallister, or catalytic bead, and others.Electrochemical sensors are devices that combine a chemically selective layer to an electrochemical transducer to provide information about the composition of a solution in real-time. The different detection methods include gas sensors, pH sensors, humidity sensors, biosensors and are available in various particulate forms such as solid, liquid, gas. It is implemented in various sectors such as oil and gas, automotive, medical, environmental monitoring, industrial, and others. The global chemical sensors market is expected to grow from $23.95 billion in 2020 to $26.38 billion in 2021 at a compound annual growth rate (CAGR) of 10.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $34.52 billion in 2025 at a CAGR of 7%. The chemical sensors market consists of sales of chemical sensors devices that determine the detectable presence, concentration, or quantity of a given analyte. A chemical sensor is a device that identifies and analyzes chemical properties in an analyte (the technical term for the chemical material under investigation) and converts the chemical data into electronic data. The increasing use of chemical sensors in the automotive industry is expected to drive the growth of the chemical sensors market in the forecast period.Automobile traffic is the primary source of exhaust gases. The chemical sensors and measurement technology can aid in improving engine performance, increasing energy efficiency, and lowering pollutant emissions.For instance, in January 2021, Gentex Corporation, a US-based high technology electronics company, introduced nanofiber sensing technology for detecting a wide range of chemicals, ranging from explosives to volatile organic compounds, with applications in a variety of industries including automotive, aerospace, and others. The company is presently working on a variant of this technology with an autonomous vehicle manufacturer to deliver the first smoke detector developed to identify smoke and vape within the vehicle environment. Therefore, the rising use of chemical sensors in the automotive industry propels the growth of the chemical sensors market. Artificial Intelligence (AI) is an emerging trend in the chemical sensors market.Artificial intelligence (AI) is increasingly being used in chemical sensors to assist in the identification and quantification of the ubiquitous mix of chemicals that comprise the environment. The ability of novel AI algorithms to seamlessly integrate with chemical sensors for material innovations and robust additive manufacturing technologies is impressive.For instance, in July 2019, IBM Corp, a US-based technology company developed an AI-assisted Hypertaste system, which is a reprogrammable chemical sensor. This system classifies liquids using artificial intelligence and can perform chemical analyses on liquids. In February 2020, Halma plc, a UK-based company offering various sensors including chemical sensors acquired Maxtec LLC, for an undisclosed amount.Through this deal, Halma aimed at expanding its gas sensor portfolio with oxygen analysis sensors and delivery products. Maxtec LLC is a US-based company that manufactures the highest-of-quality gas sensors, analyzers, and gas delivery products. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the chemical sensors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.