DUBLIN--(BUSINESS WIRE)--The "Environmental Monitoring Market by Product (Indoor, Outdoor Monitors (Fixed, Portable), Sensors, Wearables), Component (Particulate, Gas, Temperature, Noise), Sampling Method (Continuous, Active), Application - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global environmental monitoring market projected to reach $25.5 billion by 2024 from $18.4 billion in 2019, at a CAGR of 6.8%.
The adoption of environmental monitoring products and related software platforms is growing across major regions due to rising pollution levels, development of environment-friendly industries, increasing awareness on pollution monitoring, expansion of pollution monitoring infrastructure across emerging markets, favorable regulatory scenario, and ongoing installation of environmental monitoring stations.
Indoor environmental monitors are expected to witness the highest growth of all product types in the environmental monitoring market during the forecast period
Based on products, the global environmental monitoring market is segmented into indoor environmental monitors, outdoor environmental monitors, wearable environmental monitors, environmental monitoring sensors, and environmental monitoring software. Furthermore, environmental indoor and outdoor monitors are sub-segmented into fixed monitors (indoor and outdoor), portable monitors (indoor and outdoor). On the other hand, environmental sensors are also further sub-segmented into indoor and outdoor sensors.
Indoor environmental monitors are expected to witness the highest growth rate owing to the growing installation of air, water, and noise monitoring stations. Technological benefits such as real-time monitoring, options for analog or digital output, limited sample volume required for environment quality analysis, and continuous initiatives by governments to increase the awareness about the rising indoor air and noise pollution levels and their health implications are driving market growth.
The particulate detection segment is expected to account for the largest share of 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. Furthermore, chemical detection is sub-segmented in gas detection, pesticide detection, volatile organic compounds (VOCs) detection, and others. Also, particulate detection is segmented further into PM2.5 detection, PM10 detection, and others.
The particulate detection segment is expected to account for the largest share. This can be attributed to the rising levels of PM2.5 and PM10 in the air, increasing market demand for outdoor & indoor air quality monitors or PM monitors, and rapid rise in air pollution levels due to increasing industrialization and urbanization in the emerging countries.
The Asia Pacific is expected to grow at the highest CAGR in the market, by region, during the forecast period
The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period majorly due to increasing government emphasis on the strict implementation of pollution monitoring strategies, rapid and large-scale industrialization. Strengthening stringent environmental regulation policies, and the growing need to comply with various environmental safety regulations are expected to drive the demand for environmental monitoring products in the region.
The major players operating in the global environmental monitoring market are Agilent Technologies (US), Danaher Corporation (US), ThermoFisher Scientific (US), Shimadzu Corp. (Japan), 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.
- 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
- High Product Costs
- Slow Implementation of Pollution Control Reforms in Emerging Markets
- Limitations Associated With Monitoring Products
- Expansion of the Petrochemical, Power Generation, and Natural Gas Industries
- Technological Advancements and Development of Nanotechnology-Based Products
- Uncertain and Inconsistent Environmental Regulations in Emerging Countries
- Emergence of Wireless Monitoring Systems, Sensors, and Mobile-Based Apps
- Agilent Technologies
- Danaher Corporation
- E.S.I. Environmental Sensors Inc.
- Emerson Electric Co.
- General Electric
- Honeywell International Inc.
- Horiba Ltd.
- Merck KGaA
- Siemens AG
- TE Connectivity
- Teledyne Technologies Incorporated
- Thermofisher Scientific
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