Meticulous Research®– a leading global market research company published a research report titled “Environmental Monitoring Market by Product (Sensors, [Analog Sensor, Digital Sensor], Environmental Monitors [Fixed Monitors], Environmental Software), Sampling (Continuous Monitoring, Intermittent), Application (Soil Pollution Monitoring) - Forecast to 2028.”
According to this latest publication from Meticulous Research®, the environmental monitoring market is expected to reach $25.95 billion by 2028, at a CAGR of 7% during the forecast period. Some of the major factors driving the growth of the market include increasing government funding towards environmental sustainability, the development of policies and initiatives to reduce environmental pollution levels, and rising installations of environmental monitoring stations. In addition, the use of IoT technology and nanotechnology provides lucrative opportunities for the market's growth. However, trade barriers on environmental technologies in emerging economies and slow adoption and implementation of pollution control policies hinder the growth of the market.
Environmental Monitoring Market: Future Outlook
The environmental monitoring market study presents historical market data in terms of values (2019 and 2020), estimated current data (2021), and forecasts for 2028. The market has been segmented into product (sensors, [analog and digital sensors], environmental monitors [fixed monitors], environmental software), sampling (continuous monitoring, intermittent monitoring, passive monitoring, active monitoring), and application (air pollution monitoring, water pollution monitoring, soil pollution monitoring, noise pollution monitoring). The environmental monitoring market study also evaluates industry competitors and analyzes the market at regional and country levels.
Based on product, the environmental monitoring market is segmented into environmental monitors, environmental monitoring sensors, environmental monitoring software, and others which comprises data loggers, spectrophotometers, analyzers, samplers, meters, and probes. In 2021, the environmental monitoring sensors segment is expected to account for the largest share of the environmental monitoring market. The large share of this segment is mainly attributed to the ease of equipment handling and their advantages, such as operational flexibility, versatility, small equipment size, low maintenance cost, and low space requirement. The growth in this market is further driven by technological advances like the miniaturization of sensors and sensor components.
Based on sampling, the continuous monitoring segment is expected to account for the largest share of the environmental monitoring market in 2021. Factors such as the ability to analyze the pollutants at a faster rate and its ability to detect the increasing or decreasing concentration of pollutants with time and enable faster corrective actions are responsible for the growth of this segment during the forecast period.
Based on application, the air pollution monitoring segment is expected to account for the largest share of the environmental monitoring market in 2021 due to factors such the growing air pollution levels globally and the consequent need for developing environment-friendly industries to control industrial pollution and increasing public awareness related to the environmental and healthcare implications of pollution.
This research report analyzes major geographies and provides comprehensive analysis for North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America, and the Middle East & Africa. North America is expected to account for the largest share of the environmental monitoring market in 2021, followed by Europe and Asia-Pacific. Factors driving the North American market include the growing adoption of advanced monitoring technologies, government investments, strict mandates of the U.S. environmental protection agency, and the growing number of efforts and initiatives towards environmental protection.
The key players operating in the environmental monitoring market are Danaher Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Merck KGaA (Germany), Agilent Technologies, Inc. (U.S.), TE Connectivity Ltd. (Switzerland), Siemens AG (Germany), Emerson Electric Co. (U.S.), Honeywell International Inc. (U.S.), Teledyne Technologies Incorporated (U.S.), Horiba, Ltd (Japan), Shimadzu Corporation (Japan), Testo SE & Co. KGaA (Germany), and ACOEM Group (France).
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