Alcohol sensor Market Size is estimated to expand at a CAGR of 13.8% during the forecast period. In 2027, the market is expected to reach the valuation of USD 1,985.3 million
Alcohol Sensor Market Overview:
Based on the market research reports, the Alcohol sensor Market Size is estimated to expand at a CAGR of 13.8% during the forecast period. In 2027, the market is expected to reach the valuation of USD 1,985.3 million, which was USD 605 million in 2017.
These technological devices, alcohol sensors are capable of detecting the higher or abnormal level of alcohol on breath. In recent times, alcohol sensors have gained huge popularity in the healthcare sector and law enforcement agencies. However, further development in wearable alcohol sensor has increased the capability of the device, which is likely to be the reason behind its expected future growth.
This report discusses the historic revenue and expected revenue of the market. It also shows light to the segments of the industry and the leading ones as well. Also, the market dynamics, drivers, opportunities, challenges and restraints, cumulative market growth have been discussed thoroughly. Furthermore, the completion in the market, major key players, and recent developments discussed below give a wholesome idea about the market.
Alcohol Sensor Market Covid-19 impact Analysis:
The alcohol sensor market has been affected by the covid-19 pandemic in many ways. First of all, the lockdown restrictions has hugely affected manufacturing activities. The logistics difficulties caused by the pandemic has disrupted both demand and production. On the other hand, the lockdown has also restricted the number of on-road vehicles. Moreover, the chances of spreading the virus have also negatively impacted Alcohol sensor uses.
The law enforcement agencies and the healthcare sector are the two biggest end-users of the global market of the Alcohol sensor. Also, the healthcare sector is expected to have the largest Alcohol sensor Market Share and expand at a CAGR of 12.8% over the assessment period. On the other hand, the government rules for reducing road accidents, drunk and drive are largely boosting the usage of alcohol sensors. Based on the Alcohol sensor Market Trends, companies are always focusing on developing new and trendy devices to sustain the huge competition of the market.
Increasing road accidents caused by drunk and drive has always been the driving force behind the Alcohol sensor Market Growth. There has been law enforcement for compliance with alcohol detection. The increasing demand for this sensor has helped successfully installing alcohol sensor in cars. Also, government programmes like DADSS ( the driver alcohol detection system for safety) has helped to develop the required approaches for drivers to help the market to grow.
The increasing use of smartphones has contributed to the growth of the market as it led to developing applications that is capable of detecting abnormal amount of alcohol in body. According to the Alcohol sensor Market Analysis by the Pew Research Center, the 80% USA individuals use a smartphone which make them capable of checking the level of alcohol in the body. The cost-effectiveness of these devices can add a great extent of boost to the market growth.
The main restraining factor of the alcohol sensor market is its lack of reliability. The wearable sensing devices lack reliability and it fails to detect the actual alcohol level many times. These failure Alcohol sensor working can make a huge challenge for the industry.
Cumulative Market Growth:
According to the Alcohol sensor Market Forecast, the healthcare sector is projected to exhibit a CAGR of 12.8% over the assessment period. The increase in drunk and drive cases are also giving a boost to the market. Additionally, the fuel cell technology market is also estimated to grow at a CAGR of 14.5% during the forecast period. This small and compact devices detect alcohol level in a very short time. This fuel cell technology also has the potential to drive the segmented market growth.
North America is high on the market because of its extensive amount of car accidents due to drink and drive which leads to government law enforcement.
Alcohol Sensor Market Segment Overview:
The Global Alcohol Sensor Market is segmented into the following categories-
Based on alcohol sensor applications, the market is divided into
Based on the Types of alcohol sensor technology, the alcohol sensor market is sub-segmented into-
Alcohol Sensor Market Regional Analysis:
Companies of alcohol sensor are mainly functional in regions like North America, Europe, Asia-Pacific and Rest of the world, including the MEA. The increasing demand for innovation in devices is the key driving force behind the growth of the market across the globe. The North American alcohol sensor market is spread across United States, Mexico, and Canada. This regional market is at a good state in the market for their road-safety awareness and have a huge scope of development during the forecast period. However, unreliable results detected by the device can end up creating a major challenge for the market.
The European market of alcohol sensors is spread across the United Kingdom, Germany, Italy, and France. Rapid urbanisation and disposable income can drive the growth of this regional market. The Asia-Pacific regional market covers China, Japan, India, and others.
Alcohol Sensor Market Competitive Landscape:
The global market for alcohol sensing devices has limited key players who are focusing on developing and upgrading the alcohol detection method. With some innovative products in their court, many companies are trying to expand their reach in the global market. The usage for law enforcement and life science are and will keep being the main driving forces behind the industry.market
Major Key Players:
Two companies, SOBR Safe and Magswitch Technology, have collaborated with each other to develop a high alcohol content detector for workers named SOBRCheck. This for enterprise usage. This device can check the alcohol through the skin of worker and make a match with the employee ID and send the report to the safety officer appointed. A small step can lead to preventing many accidents or injuries, which can become life-taking in some cases.
Another company, Sinclair, offered a new alcohol detection device named Sesame. This device was for the public transport solution. This is used to check the alcohol level of the driver of the public transport as many lives depend on the driver's hand.
This report consists-
|Market Size||USD 1,985.3 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Application, End-Users, Technology|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Drägerwerk AG & Co. KGaA (Germany), AlcoPro Inc. (U.S.), Giner Labs (U.S.), Intoximeters Inc. (U.S.), Honeywell International Inc. (U.S.), BACKtrack Inc. (U.S.), Abbot Laboratories (U.S.), Lifeloc Technologies (U.S.), Alcohol Countermeasure Systems (International) Inc. (Canada), and Asahi Kasei Corporation (Japan)|
|Key Market Opportunities||Development of products such as smart start alcohol ignition devices, innovation in wearable alcohol biosensors, and broadening investment from private institutions.|
|Key Market Drivers||
The global alcohol sensor market recorded revenue generation of USD 605 million in the base of 2017.
The global alcohol sensor market is poised to register a market value of USD 19.8 billion at a CAGR of approximately 13.5% over the review period (2018-2027).
The North America region is expected to the most significant share growing from USD 215.1 million recorded in 2017, followed by the Asia Pacific region, which is projected to register a CAGR of 15%.
The global alcohol sensor market is analyzed based on technology, end-users, and application, wherein the fuel cell technology segment is slated to witness maximum growth over the review period.
The global alcohol sensor market is influenced majorly by the increasing prevalence of drinking and driving cases and by the growing adoption of personal breathalyzers.
The lesser availability of regulated breathalyzers may act as a hindering factor. Moreover, external factors can influence certain sensor types, such as infrared sensors, which will impact the results and efficiency of alcohol sensors.
Some of the significant market plauers operating in the global alcohol market are Abbot Laboratories, Giner Labs, Honeywell International Inc., Asahi Kasei Corporation, and Intoximeters Inc., among others.