(PharmaNewsWire.Com, May 15, 2021 ) The environmental monitoring market size is estimated to be USD 14.0 billion in 2020 and projected to reach USD 17.1 billion by 2025, at a CAGR of 4.1%. 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 the Middle East & Africa. This can majorly be attributed to rising pollution levels, a favorable regulatory scenario, the development of environment-friendly industries, increasing awareness on pollution monitoring, and the expansion of pollution monitoring infrastructure across emerging markets.
The environmental monitoring market includes major tier I and II suppliers like Agilent Technologies, Danaher Corporation, Thermo Fisher Scientific, Shimadzu, and PerkinElmer. These suppliers have their manufacturing facilities spread across various countries across the Asia Pacific, Europe, North America, South America, and the RoW. COVID-19 has impacted their businesses as well. Multiple manufacturing facilities of players have shut down due to COVID-19. Industry experts believe that COVID-19 will have a short-term negative effect on market growth; however, this is expected to stabilize by 2020-end.
The air pollution monitoring segment is expected to account for the largest share of the environmental monitoring market, by application, in 2020
Based on the application, the environmental monitoring market is segmented into air, water, soil, and noise pollution monitoring. The air pollution monitoring segment accounted for the largest share of the environmental monitoring market in 2019, due to the rising levels of air pollution across key markets, growing acceptance and market demand for sensor-based air quality monitoring systems, and increasing health concerns.
The chemical detection segment is expected to register the highest growth rate in the environmental monitoring market, by component
Based on the component, the environmental monitoring market is segmented into temperature sensing, moisture detection, biological detection, chemical detection, particulate detection, and noise measurement. The chemical detection segment is projected to grow at the highest CAGR owing to the rising levels of chemical air pollutants, increasing demand for pesticide detection sensors, and the implementation of stringent pollution monitoring and control regulations.
North America dominated the global environmental monitoring market in 2019
North America accounted for the largest share of the environmental monitoring market in 2019. 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 support the 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), Thermo Fisher Scientific (US), Shimadzu (Japan), and PerkinElmer Corporation (US) are the major companies in this market. Others include General Electric (US), Honeywell International Inc (US), Horiba (Japan), Merck KGaA (Germany), and Siemens (Germany).
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