Strict regulation for curbing global warming and deteriorating climate conditions to encourage market growth
Market Size – USD 17.13 billion in 2020 Market Growth – 9.5% Market Trends – Increasing awareness for need of pollution regulation
The global environmental monitoring market size is expected to reach USD 34.9 billion by 2028 at a CAGR of 9.5%, according to a new report by Reports and Data.
Rapid urbanization and industrialization across the globe have severely affected the global climate condition. Countries like India and China, where industrialization has been the fastest in the last couple of decades and regulatory landscape the least strict, pollution levels have been at an all-time high. Many developed countries have outsourced their manufacturing plants to developing countries which has worsened the quality of air, water and soil in these countries. But global pressure on these countries to regulate their emission levels is mounting, thus creating considerable opportunities for the environmental monitoring market.
According to the United Nations European Commission for Europe (UNECE) over the past decade, only a few countries of Europe and Central Asia have been able to maintain monitoring activities.
Governments of many emerging nations have been evasive about implementing such restraints are they are of the opinion that the underprivileged masses of their countries are better served by economic growth than by environmental stability. This may restrain environmental monitoring market growth to some extent.
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Key Highlight from the Report:
- In February 2021, that it has acquired Australia based company, Environmental Monitoring Solutions (EMS). The move will enable Titan Cloud to expand its portfolio of wetstock management solutions and accelerate its expansion in non-U.S. markets.
- From 2018 to 2028, the services segment is expected to register the highest CAGR. The key growth driver is expected to be the increasing demand for the deployment of new environmental systems and the upgradation of existing infrastructure. Also expected to drive the segment is the increase in government funding and the inclusion of environmental monitoring systems as part of smart city initiatives worldwide.
- On the basis of sampling method, the market has been segmented into active, continuous, intermittent, and passive monitoring solutions. The continuous monitoring segment led the market in terms of revenue in 2020 and is also expected to exhibit the highest CAGR during the forecast period.
- Based on components, the environmental monitoring market has been categorized into particulate matter, temperature, biological, moisture, chemical, and noise. The particulate matter segment held the largest revenue share in 2020.
- Growing public awareness and emphasis on measuring and reducing pollution to reduce health hazards has also led to market growth over the past decade. In the pharmaceutical and specialist food industries, an increasing number of cases of contamination is also a key factor driving the deployment of continuous monitoring systems.
- It is anticipated that the water pollution segment will experience significant growth over the forecast period. The demand for the deployment of monitoring systems for water pollution to analyse the quality of water in natural bodies of water has been increasing.
- Asia Pacific is expected to be the fastest-growing regional market due to increasing focus on the implementation of environmental monitoring systems to enhance living standards and regulate levels of pollution. Over the last few years, as part of global climate change efforts, countries in the Asia Pacific have been gradually concentrating on reducing emission levels.
- Key industry players operating in the market include 3M; Agilent Technologies; Danaher Corporation; Emerson Electric; General Electric Company; Honeywell International Inc.; Horiba, Ltd.; Siemens; Teledyne Technologies Inc.; and Thermo Fisher Scientific, Inc.
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2028. For this study, Reports and Data has segmented the global environmental monitoring market report based on product, sampling method, component, application, and region:
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
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Regional Outlook (Revenue, USD Million, 2018 – 2028)
- North America
- The U.S.
- Asia Pacific
- Latin America
- Middle East & Africa