(PharmaNewsWire.Com, June 10, 2020 ) The global environmental monitoring market is projected to reach USD 25.5 billion by 2024 from USD 18.4 billion in 2019, at a CAGR of 6.8% during the forecast period.
The adoption of environmental monitoring products and related software platforms is growing across major regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. This can majorly be attributed to rising pollution levels, favorable regulatory scenario, ongoing installation of environmental monitoring stations, development of environment-friendly industries, increasing awareness on pollution monitoring, expansion of pollution monitoring infrastructure across emerging markets, are the major factors driving the growth of the global environmental monitoring market.
The air pollution monitoring segment is expected to account for the largest share of the environmental monitoring market, by application, in 2019
Based on application, the environmental monitoring market is segmented into air pollution monitoring, water pollution monitoring, soil pollution monitoring, and noise pollution monitoring. Furthermore, water pollution monitoring is segmented further into surface & groundwater monitoring and wastewater monitoring. The air pollution monitoring segment accounted for the largest share of the environmental monitoring market in 2018. This can be attributed to the rising level of air pollution across key markets globally (such as the U.S., Europe, China, India, and the Middle East), growing acceptance and market demand for sensor-based air quality monitoring systems, and increasing health concerns among public and stringent air pollution control legislation by several governments.
The chemical detection segment is expected to register the highest growth rate in the environmental monitoring market, by component, during the forecast period
Based on the component, the environmental monitoring market is segmented into temperature sensing, moisture detection, biological detection, chemical detection, particulate detection, and noise measurement. Furthermore, chemical detection is sub-segmented in gas detection, pesticide detection, volatile organic compounds (VOCs) detection, and others. Also, particulate detection is further segmented into PM2.5 detection, PM10 detection, and others. The chemical detection segment is projected to grow at the highest CAGR owing to rising levels of chemical air pollutant, increasing demand for pesticide detection sensors, the implementation of stringent pollution monitoring and control regulations by the industries and commercial buildings. Additionally, growing public awareness, the development & commercialization of innovative sensors (such as high efficacy and ease of usage in extreme environmental conditions), ongoing technological advancements in gaseous sensors, and increased government & public investments for effective air pollution monitoring are propelling market growth.
North America dominated the global environmental monitoring market in 2018
North America accounted for the largest share of the environmental monitoring market in 2018. The dominant position of this region is due to an increase in government funding for the establishment of environmental monitoring stations and the US EPA’s stringent regulations that supports greater adoption of pollution monitoring technologies. Additionally, technological advancements in the field of environmental sensors and growing government initiatives in the area of pollution control will further augment market growth.
Agilent Technologies (US), Danaher Corporation (US), ThermoFisher Scientific (US), Shimadzu Corp. (Japan), and PerkinElmer Corporation (US). The other players are General Electric (US), Honeywell International Inc (US), Horiba (Japan), Merck KGaA (Germany), Siemens (Germany), Teledyne Technologies Incorporated (US), Emerson Electric (US), Spectris (UK), TE Connectivity (US), and 3M Company (US) among others are some major players in the global environmental monitoring market.
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