Market Highlights
The global environmental monitoring market is predicted to expand at 10 % CAGR during the assessment period (2016-2022) owing to the rising government initiatives to protect the environment, asserts Market Research Future (MRFR). Environment monitoring refers to the process of controlling and monitoring state of the environment after the completing industrial functionalities and operations. It comprises technologies used to monitor water pollution, air pollution, land contamination, waste management, and others.
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.
Segmentation:
The global environmental monitoring market size has been analyzed on the basis of type, products, application, end-users, and region.
By mode of type, the global environmental monitoring market has been segmented into active monitoring, continuous monitoring, intermittent monitoring, passive monitoring, and others.
By mode of products, the global environmental monitoring market has been segmented into sensors, monitors, and software.
By mode of application, the global environmental monitoring market has been segmented into water pollution monitoring, soil pollution monitoring, air pollution monitoring, noise pollution monitoring, and others. In these, the segment for air pollution monitoring is poised to hold the maximum market share and is expected to retain its lead over the forecast period due to the growing usage of compact monitors, wireless technologies, and sensors.
By mode of end-users, the global environmental monitoring market has been segmented into data centers, food & beverage, government, construction, medical, retail, and others.
Regional Analysis
Geographically, the environment monitoring market spans across regions namely, North America, Europe, Asia Pacific, and Rest-of-the-World.
Among all the regions, North America is predicted to dominate the market during the forecast period owing to the increasing government funding for implementing monitoring stations. Also, the strict mandates of the U.S. environmental protection agency are estimated to drive the market in this region.
Europe supports North America in generating the highest revenue by the end of the forecast period to fulfill the rising consumer demand. The European environment agency has established economic policies for industries, thereby expanding the market for environmental monitoring.
Asia Pacific is predicted to be the fastest region during the assessment period owing to the rising initiatives taken by the government for the development of the environment-friendly industries in the Asia Pacific region.
Competitive Analysis
Some of the key players operating the global market are Agilent Technologies Inc. (U.S.), Siemens AG (Germany), Emerson Electric Co. (U.S.), Nidec Corporation (Japan),Environmental Sensors Inc. (Canada), General Electric Company (U.S.), Honeywell International Inc. (U.S.), Lockheed Martin Corporation (U.S.), Thales Group (France), Danaher Corporation (U.S.), and others.
The global environmental monitoring market has a highly competitive scenario. Therefore, the market players are increasing their investments towards research and development projects and marketing activities to maintain their position in the market over the review period. Furthermore, there is an expected rise in mergers, strategic business partnerships, acquisitions, and joint ventures, to uphold the competitive nature of the market in the foreseeable future.
