The size of the global market for environmental monitoring was estimated at USD 17.13 billion in 2020, growing at a CAGR of 9.5% between 2020 and 2028. With growing worries about climate change and the harmful consequences of carbon emissions on the atmosphere, the market for environmental monitoring has been growing quickly. Tools are used in environmental monitoring to evaluate environmental conditions and trends, produce data for reporting to national officials, and support the creation and execution of policies.
Only a few nations in Central Asia and Europe were able to continue monitoring activities throughout the past ten years, according to the United Nations European Commission for Europe (UNECE). The situation is altering, though, as nations all over the world realize how crucial it is to monitor and preserve environmental quality, including that of the air, water, and soil. Environmental monitoring has not been strongly adopted in heavily industrialized areas, and as a result, the impacts have irreparably altered the climate and way of life. Environmental monitoring has become essential and can no longer be disregarded as a result of experts delivering dire warnings, which is fueling the expansion of the environmental monitoring market.
The analysis of the worldwide environmental monitoring market’s growth potential, challenges, and trends is the primary emphasis of the report. The study offers Porter’s Five Forces analysis to comprehend the effects of many elements on the worldwide environmental monitoring market, including the bargaining power of suppliers, competitive intensity of competitors, the threat of new entrants, the threat of substitutes, and the bargaining power of buyers.
COVID-19 Impact On The Global Environmental Monitoring Market
The biggest challenges facing healthcare systems around the world are logistical issues, managing patients with the disease, prioritizing patients with comorbidities and pre-existing conditions, and safeguarding the general public and hospital frontline staff from contact with the COVID-19 infection. Various isolation strategies have been used by many hospitals to stop the illness from spreading. There has been a considerable slowdown in social and economic activity as well as movement limitations, which has improved air quality in many cities and decreased water pollution in many regions of the world. However, there has been a negative influence on the environment due to the growing usage of PPE (face masks, hand gloves, etc.), their careless disposal, and the production of a sizable volume of hospital waste.
Due to several variables, including the expanding use of environmental sensors, particularly air quality and temperature sensors, in consumer electronics, government, and public utility sectors, the market for environmental monitoring has promising growth potential.
Possibilities: Environmental Pollution Reduction Measures That Are Supportive Of Government Regulations
The Ministry of Environment and Forests is largely focused on the implementation of policies and initiatives related to the conservation of the nation’s natural resources, including lakes and rivers, biodiversity, forests, and wildlife, as well as the prevention and reduction of pollution.
The “National Conservation Strategy and the Policy Statement on Environment & Development, 1992” and “Policy Statement for Abatement of Pollution, 1992” place a strong emphasis on pollution prevention/reduction and the development of cleaner technology to reduce industrial pollutants. Important water resources must be developed, conserved, and managed from national perspectives, according to the National Water Policy, 2002.
From 2018 to 2028, the services sector is anticipated to have the highest CAGR. A major development driver is anticipated to be the rising demand for the installation of new environmental systems and the modernization of existing infrastructure. The segment is also anticipated to be driven by an increase in government financing and the integration of environmental monitoring systems in smart city efforts around the world.
Asia Pacific is anticipated to have the quickest rate of growth among regional markets because of the growing emphasis on the adoption of environmental monitoring systems to raise living standards and control pollution levels. Asia Pacific nations have gradually focused on lowering emissions levels as part of efforts to combat global climate change during the past few years.
Product Outlook (Revenue, USD Million, 2018 – 2028)
Sampling Method Outlook (Revenue, USD Million, 2018 – 2028)
Component Outlook (Revenue, USD Million, 2018 – 2028)
- Particulate Matter
Application Outlook (Revenue, USD Million, 2018 – 2028)
- Air Pollution
- Water Pollution
- Soil Pollution
- Noise Pollution
Regional Outlook (Revenue, USD Million, 2018 – 2028)
- North America
- the Asia Pacific
- Latin America
- Middle East & Africa