Market Highlights
The global environmental monitoring market is set to demonstrate a steady growth, which is recorded to be 10% CAGR during the forecast period 2016 to 2022, reveals Market Research Future in its detailed study. The study also shows the driving factors, segmental analysis, and regional analysis to gain information about the market’s growth.
Drivers and Restraints
With the growing initiative to protect the environment from air pollution, water pollution, and other hazards, the environmental monitoring market is likely to expand. The increasing implementation of ecological monitoring and software for industrial pollution checks along with government initiatives to develop a biodegradable infrastructure is anticipated to foster market growth during the assessment period. The government is taking the initiative to shield the environment from air, water, land, and other forms of challenges. This is poised to fuel market growth over the forecast period. Moreover, the rising application of such monitoring software for examining industrial pollution is predicted to drive the market.
On the flip side, lack of technical expertise and difficulty in monitoring certain aspects owing to strict government mandates are significant challenges inhibiting the market growth over the review period. Moreover, factors such as the slow implementation of pollution control policies, export barriers over environment technologies, and the high cost of implementing environmental monitoring systems are anticipated to hamper the market growth.
Regional Framework
The regional-wise segmentation of the global environmental monitoring industry has been done among the key regions of North America, Europe, Asia, and the Rest of the World (ROW).
Among these regions, North America can lead the environmental monitoring market during the assessment period. The factors such as intensifying funding by the government for the implementing environmental monitoring stations and rigorous rules & regulations of U.S. environmental protection agency is anticipated to drive the environmental monitoring market in the North America region.
Europe region is also considered to support the market in generating the maximum revenue for environmental monitoring market by the end of the estimated period 2022. It is due to industrial growth to fulfill the mounting consumer demand which is creating the need to monitor the quality of the environment. Therefore, to protect the climate healthiness, European environment agency (EEN) has already established & mandate economic policies for industries thus, rising the market of environmental monitor devices in the region.
In the last, the Asia-Pacific region is also anticipated to be the firmest growing region in environmental monitoring market during the forecast period as the rising initiatives by government for the development of environment-friendly industries in the region are high on action in the recent time.
Market Players
The crucial players in global environmental monitoring market are listed as Danaher Corporation (U.S.), Environmental Sensors Inc. (Canada), Agilent Technologies, Inc. (U.S.), Siemens AG (Germany), Lockheed Martin Corporation (U.S.), Emerson Electric Co. (U.S.), General Electric Company (U.S.), Thales Group (France), Nidec Corporation (Japan), Honeywell International, Inc. (U.S.) and to name a few.
