Environmental Monitoring Market Size & Forecast

The Environmental Monitoring Market is expected to reach $33.9 billion by 2031, at a CAGR of 8.4% from 2024 to 2031. The growth in this market is driven by factors such as rising government funding towards environmental sustainability, the development of policies and initiatives to reduce environmental pollution, the rising installation of environmental monitoring stations, and the growing importance of environmental monitoring solutions in public-private organizations. In addition, the increasing use of IoT and nanotechnology in environmental monitoring products and the rising use of unmanned aerial vehicles for environmental monitoring are expected to provide opportunities for market growth. However, trade barriers on environmental technologies in emerging economies and slow adoption and implementation of pollution control policies can restrain the growth of the market. High costs associated with environmental monitoring solutions pose challenges for market growth.

Environmental Monitoring Market Growth Drivers

Rising Government Funding Towards Environmental Sustainability

In the past few years, the importance of decisive actions toward achieving environmental sustainability has become of vital essence around the globe. A few environmental sustainability factors that can be put into practice include protecting renewable resources by supporting and advancing sustainable farming, planting home gardens to grow what you eat and buying from local farmers and producers, and purchasing carbon offsets to support reforestation and other regenerative projects; avoiding the consumption of fossil fuels by using renewable energy alternatives; and limiting pollution by composting and supporting clean air and water initiatives. Governments and regional associations across the globe are accelerating their investments towards reducing carbon footprint and building an environmentally sustainable economy.

Various green investment banks (GIBs), such as the UK Green Investment Bank, Malaysian Green Technology Corporation (GreenTech Malaysia), Connecticut Green Bank, Clean Energy Finance Corporation (CEFC), and California CLEEN Center, are focusing on investing in and funding projects that have the potential to reduce greenhouse gas (GHG) emissions.

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Development of Policies and Initiatives to Reduce Environmental Pollution

Government regulations and policies play a key role in determining and improving a country’s environment. There are internationally agreed environmental policies to address global concerns, such as air pollution, water pollution, managing hazardous wastes, and climate change. However, as no single policy can provide solutions to all problems, the spectrum of policies has gradually broadened to address the increasingly complex environmental issues to meet the emission reduction targets in the coming years. For instance, the Paris Climate Agreement on Climate Change and the 2030 Agenda have expanded gradually to address the increasingly complex environmental issues in the coming years.

Environmental Monitoring Market Growth Challenge

High Costs Associated with Environmental Monitoring Solutions

The systems used for accomplishing the standards for environment monitoring have a high cost of procurement and maintenance. Monitoring of pollutants is primarily performed using analytical instruments, such as optical and chemical analyzers. Usually, pollutant analyzers are complicated, bulky, and expensive. Each instrument's cost ranges from about USD 7,000-12,000 (EUR 6,000-1,000), together with a significant amount of resources required to routinely maintain and calibrate them. The high cost of these analyzers is due to the incorporation of accessories like calibration standards, pumps, valves, and others which results in the high maintenance cost for these analyzers. In addition, the price for sensors has been considerably reduced within the last few years. Still, the maintenance of sensor networks and the post-processing of collected data is labor-intensive and likely to increase the monitoring cost. Setting up and managing networks of fixed monitoring stations also requires significant investment. Spread sparsely around or within a particular city; these stations can provide detailed and highly accurate measurements but at limited point-based locations. This makes it difficult to compile representative and reliable information for a whole urban area, thereby forming a clearer picture of pollution field trends. In this case, more monitoring stations are required, making them expensive, both in terms of purchasing and maintenance. In addition, the national air quality monitoring network is present only in 268 cities out of the 5,000 cities and towns in India (Source: Oizom Instruments Pvt. Ltd). This is due to its excessive cost, high workforce requirement, and costly operations and maintenance (O&M) procedure.

Environmental Monitoring Market Growth Opportunity

Increasing Use of IoT and Nanotechnology in Environmental Monitoring Products

UAVs can be used in environmental monitoring for data collection, surveillance, and research. UAV-mounted sensors help to minimize the existing gap between field observations and traditional remote sensing by providing high spatial detail over relatively large areas in a cost-effective way. One of the key advantages of UAV-based environmental monitoring is the elimination of human involvement. Only the device is subjected to the required data. Considering this, many UAVs are expected to be used in environmental monitoring applications, creating growth opportunities for the overall environmental monitoring systems market.

Nanomaterials can act as adsorbents, catalysts, and sensors due to their large specific surface areas and high reactivities. Nanotechnology plays a significant role in sensing pollutants by improving sensor specificity. Nanosensors are being used to detect several toxic compounds at ppm and ppb levels in different environmental systems. Nanotechnological products, processes, and applications are expected to contribute significantly to environmental and climate protection by saving raw materials, energy, and water and reducing greenhouse gases and hazardous wastes. Some of the applications of nanotechnology in environmental protection are:

• Nanotechnology-enabled sensors and solutions can detect and identify chemical or biological agents in the air and soil with much higher sensitivity than ever before.
• Nanotechnology helps meet the need for affordable, clean drinking water through rapid, low-cost detection and treatment of impurities in water.
• Nanoparticles are being developed to clean industrial water pollutants in groundwater through chemical reactions that render the pollutants harmless

Environmental Monitoring Market Analysis: Key Findings

By Offering: In 2024, the Hardware Segment to Dominate the Environmental Monitoring Market

Based on offering, the environmental monitoring market is segmented into hardware, software, and services. In 2024, the hardware segment is expected to account for the largest share of above 78.0% of the environmental monitoring market. The large share of this segment is attributed to the increasing installation of environmental monitoring stations, increasing use of environmental sensors in the industrial sector, and stringent environmental regulations to reduce environmental pollution.

However, the solutions segment is expected to register the highest CAGR during the forecast period. The rising use of environmental monitoring solutions by industries to manage and minimize the impact of an organization's activities on the environment and the rising focus of market players to launch innovative environmental monitoring solutions are expected to drive the segment’s growth.

By Sampling: In 2024, the Continuous Monitoring Segment to Dominate the Environmental Monitoring Market

Based on sampling, the environmental monitoring market is segmented into continuous monitoring, intermittent monitoring, passive monitoring, and active monitoring. In 2024, the continuous monitoring segment is expected to account for the largest share of above 47.5% of the environmental monitoring market. The large share of this segment is attributed to the ability of continuous monitoring systems to rapidly analyze pollutants, detect changes in pollutant concentration in real-time, ensure quick corrective actions, increase public access to information, and improve control over environmental impacts. Moreover, the continuous monitoring segment is expected to register the highest CAGR during the forecast period.

By Application: In 2024, the Air Pollution Monitoring Segment to Dominate the Environmental Monitoring Market

Based on application, the environmental monitoring market is segmented into air pollution monitoring, water pollution monitoring, soil pollution monitoring, noise pollution monitoring, and other applications. In 2024, the air pollution monitoring segment is expected to account for the largest share of above 42.5% of the environmental monitoring market. The large share of this segment is attributed to the rising levels of air pollution and the growing pressure on governing bodies to implement strict guidelines and regulations to control air pollution.

Moreover, the air pollution monitoring segment is expected to register the highest CAGR during the forecast period. Increasing funding and technological advancements in air quality monitoring are expected to drive the segment’s growth.

By End User: In 2024, the Industrial Segment to Dominate the Environmental Monitoring Market

Based on end user, the environmental monitoring market is broadly segmented into residential, government & public utilities, commercial, and industrial. In 2024, the industrial segment is expected to account for the largest share of the environmental monitoring market. The large share of this segment is attributed to the growing emphasis on the use of predictive maintenance and remote monitoring, growing demand for industrial automation and IIoT, stringent government regulations regarding pollution monitoring technologies, and rapid industrialization. Moreover, the industrial segment is expected to register the highest CAGR during the forecast period.

Geographical Analysis

In 2024, North America is expected to account for the largest share of above 34.4% of the environmental monitoring market. The large share of the region is attributed to the growing adoption of advanced monitoring technologies, stringent government mandates for environment protection, and increasing efforts and initiatives towards protecting the environment. However, the Asia-Pacific region is expected to register the highest CAGR of above 9.0% during the forecast period. The increasing implementation of environmental monitoring and protection policies by governments and increasing compliance from industrial facilities towards environmental monitoring regulations are supporting the region's growth.

Environmental Monitoring Market: Key Companies

The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last 3–4 years. Some of 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), ACOEM Group (France), and Halma plc (U.K.).

Environmental Monitoring Industry Overview: Latest Developments from Key Industry Players

• In March 2021, Thermo Fisher Scientific Inc. (U.S.) launched Thermo Scientific Orbitrap Exploris GC-MS for various applications, including environmental contaminants.
• In January 2021, Teledyne Technologies Incorporated (U.S.) launched N series gas instruments for continuous emissions monitoring (CEM) applications.
• In April 2021, ACOEM Group (France) launched Serinus 31, the next-generation carbon dioxide analyzer. Its non-dispersive infrared (NDIR) gas correlation spectroscopy ensures accurate, stable, and repeatable measurements of carbon dioxide in ambient air.

Environmental Monitoring Market Research Summary: 

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