Gas Detection Equipment Industry 2022 World Size, Share, Types, Applications and Forecast to 2028

Gas Detection Equipment Market Overview:

A secure way for a customer to buy goods or services is through a Gas Detection Equipment, also referred to as a tap-and-go system. Customers can use chip cards like debit, credit, or smartcards to make Gas Detection Equipments, which is a simple and practical alternative to cash payments. To make simple financial transactions possible, Gas Detection Equipment uses Near Field Communication (NFC) and Radio-frequency Identification (RFID) technologies.     

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Major Key Players:

•          ABB
•          Airtest Technologies Inc.
•          FLIR Systems Inc.
•          Fluke Corporation
•          General Electric Company
•          Honeywell International Inc.
•          Lynred
•          Opgal
•          Siemens
•          Thermo Fisher Scientific Inc.

Drivers, Restraints, Opportunities and Challenges

The Gas Detection Equipment market is rapidly evolving as a result of factors like rising digital payment adoption, increasing consumer demand for mobile and wearable terminals, and technological developments in payment terminals. In addition to this, strategic alliances and the substantial presence of smartphone manufacturers in this area are anticipated to accelerate the growth of the European market.

The market is also anticipated to grow as a result of rising consumer demand for wearable and mobile payment systems and merchant acceptance of technology for low-value transactions. However, the high likelihood of contactless cards being misplaced, stolen, or used inappropriately, might impede the anticipated growth of the global industry.

Impact of the COVID-19 Pandemic

Over the course of the forecast period, the COVID-19 pandemic outbreak had a favorable effect on the Gas Detection Equipment market's expansion. The COVID-19 pandemic has had a big impact on people's daily lives and purchasing decisions. Over the forecast period, the market is anticipated to grow due to the rising demand for contactless mobile payments in retail establishments like drug and grocery stores to help reduce the likelihood of virus transmission.

Gas Detection Equipment Market Segmentation 2022

The largest market was represented by smartphones and wearable segment, followed by point-of-sale (POS) terminals. The segment of smartphones and wearable is anticipated to continue to rule the Gas Detection Equipment market for the duration of the forecast. The use of smartphones' Near Field Communication (NFC) technology has grown as a result of their ability to connect to POS systems that support Gas Detection Equipments.

The Gas Detection Equipment market was dominated by the retail industry, which also generated the majority of global revenue. Retailers are implementing cutting-edge technologies like big data analytics, cloud computing, social networks, and digital storefronts in order to increase their presence and visibility in the market.

Major Segments and Sub-Segment of Gas Detection Equipment Market are Listed Below:

Segment On The Basis of Product

• Fixed Gas Detector
• Portable Gas Detector

Segment On The Basis of Technology

• Infrared (IR)
• Laser-based Detection
• Photoionization Detector (PID)
• Semiconductor
• Catalytic
• Others

Segment On The Basis of End-User

• Industrial
• Building Automation & Domestic Appliances
• Petrochemical
• Medical
• Environmental
• Automotive
• Others

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Regional Analysis

North America's Gas Detection Equipment market had the largest market share, registered significant revenue in recent years, and is expected to grow its revenue share over the forecast period. This significant growth is primarily attributable to the expansion of strategic partnerships and tie-ups in this area. In addition, increasingly popular smartphones, technologically advanced mobile payments, and rising NFC and QR/barcode acceptance are some of the factors propelling the expansion of this regional market.

Table of Contents -Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Gas Detection Equipment Market Segmentation, By Device

9. Gas Detection Equipment Market Segmentation, By Solution

10. Gas Detection Equipment Market Segmentation, By Application

11. Regional Analysis

12. Company Profiles

13. Competitive Landscape

14. Conclusion

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