SAN FRANCISCO, Oct. 2, 2019 /PRNewswire/ -- The global environmental monitoring market size is expected to reach USD 26.7 billion by 2025 at a CAGR of 9.5% over the forecast period, according to a new study conducted by Grand View Research, Inc. Growing rate of pollution levels, supportive regulatory and political scenario, and increasing awareness regarding pollution monitoring is anticipated to drive the market through 2025. Furthermore, adoption and implementation of environment-friendly practices in industrial operations is expected to play a pivotal role in the deployment of environmental monitoring systems worldwide.
Key suggestions from the report:
- Based on component, particulate matter monitoring systems are expected to witness the fastest growth owing to increasing health problems caused by exposure to particulate matter (PM) and strict regulatory steps to mitigate particulate pollution initiated by governments worldwide
- By product, the monitor segment accounted for the largest share in 2018 owing to emerging sensing techniques, miniaturization of sensors, affordability, and easy integration with Internet of Everything (IoE)
- On the basis of application, air pollution is likely to witness the fastest growth owing to rising air pollution worldwide and constructive initiatives taken to curb it. According to WHO, around 7 million people die every year due to exposure to fine particle matters, which lead to diseases such as lung cancer, stroke, heart disease, and chronic obstructive pulmonary disease
- By way of sampling method, continuous monitoring systems will exhibit the highest CAGR during the forecast period owing to proliferation of IoT devices and its increasing connectivity with devices, applications, and people to monitor and take decisions seamlessly
- Some of the major players include in environmental monitoring market are 3M; Agilent Technologies; Danaher Corporation; Emerson Electric; General Electric Company; Honeywell International Inc.; Horiba, Ltd.; Siemens; Teledyne Technologies Inc.; and Thermo Fisher Scientific, Inc.
Read 130 page research report with ToC on "Environmental Monitoring Market Size, Share & Trends Analysis Report By Product, By Sampling Method (Active, Continuous), By Component (Temperature, Particulate Matter), By Application, By End Use, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/environmental-monitoring-market
Rise in funding for environmental monitoring and pollution control initiatives by multilateral bodies and government institutions is also a key market driver. The Green Climate Fund (GCF) is one such financial initiative under the United Nations Framework Convention on Climate Change (UNFCC) to assist developing countries in adoption, adaptation, and mitigation initiatives to counter climate change. GCF has pledged to set up a goal of raising $100 billion a year by 2020. Multilateral and institutional funding on similar lines is likely to promote the market for environmental monitoring systems.
In terms of connectivity and communication technology, there has been significant development in cellular and non-cellular communications such as Bluetooth, ZigBee, and NB-IoTs, which has enabled users to deploy their systems indoor as well as at remote locations. Moreover, emerging technologies such as Artificial Intelligence (AI), Machine Learning (ML), and big data analytics is expected to prove beneficial in the deployment of environmental sensors to achieve consistency, accuracy, and efficiency.
Use of AI in Early Warning Systems (EWS) to identify the onset of critical situations has been implemented and proved efficient in the UrbanFlood Project. The project was funded under EU's 7th Framework Programme in 2009 to investigate the use of sensors within flood embankments to support EWS. The future prospects of environmental monitoring seems to be promising with technological advancements leading to the creation of intelligent or smart environmental monitoring systems.
North America dominated the market in 2018 owing to stringent and well-established pollution control laws and regulations by the U.S. Environmental Protection Agency (EPA) and Canada's Canadian Environmental Assessment Agency (CEAA). Asia Pacific, on the other hand, is expected to emerge as the fastest-growing regional market owing to increasing focus of countries such as India and China to curb pollution pro-actively. 'China's National Clean Air Action Plan' and India's similar initiative 'National Clean Air Mission' are notable initiatives, which is likely to boost the market.
Grand View Research has segmented the global environmental monitoring market based on product, sampling method, component, application, end use, and region:
- Environmental Monitoring Product Outlook (Revenue, USD Million, 2014 - 2025)
- Environmental Monitoring Sampling Method Outlook (Revenue, USD Million, 2014 - 2025)
- Environmental Monitoring Component Outlook (Revenue, USD Million, 2014 - 2025)
- Particulate Matter
- Environmental Monitoring Application Outlook (Revenue, USD Million, 2014 - 2025)
- Air Pollution
- Water Pollution
- Soil Pollution
- Noise Pollution
- Environmental Monitoring End-use Outlook (Revenue, USD Million, 2014 - 2025)
- Energy & Utilities
- Environmental Monitoring Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- South America
- Middle East & Africa
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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