The wireless gas detection market is estimated to grow from USD 1.5 billion in 2020 to USD 1.9 billion by 2025; it is expected to grow at a CAGR of 4.8%. The cost-effectiveness, increased safety, and portability of wireless gas detection devices and the time- and money-saving easy installation of wireless gas detection systems are the key factors driving the growth of the wireless gas detection market.
The wireless gas detection market is highly competitive owing to the presence of a large number of regional and global players. The key players are focusing on enhancing their product portfolios and increasing market share through strategies, such as product launches, collaborations, acquisitions, and divestments. Many market players adopted product launches as their key business strategy.
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Honeywell International (US) innovates and develops technologies that address challenges pertaining to energy, safety, security, productivity, and global urbanization. The company owns a strong brand name and holds a high position in industries such as aerospace, semiconductors, and industrial manufacturing that have been huge drivers for the company’s organic growth across various industries.
Drägerwerk (Germany) is one of the major players in the fields of medical and safety technologies globally. The company’s offices are currently present in more than 190 countries and it offers a diversified range of products and solutions for portable gas detection. The company offers services in more than 40 countries.
For the growth of its business and to strengthen its customer base, the company focuses on product launches, developments, and partnerships as key strategies. For instance, in 2015, the company acquired GasSecure AS (Norway) to manage research and development operations for wireless technology and innovative gas detection technologies. The company has established its development and production facilities across various regions including Germany, the UK, Sweden, the Netherlands, China, the Czech Republic, South Africa, Brazil, and the US.
Wireless Gas Detection Market with Covid-19 impact by Technology (Wi-Fi, Bluetooth, Cellular, License-Free Ism Band), Offering (Hardware (Detectors/ Sensors, Gateways, Monitors and Controllers), Software, Services), Application, and Geography - Global Forecast to 2025
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