The Global “Environmental Monitoring Market Size, Growth by Product Type (Sensors, Indoor Monitors, Outdoor Monitors), Sampling Method, Component, Application, End-User, and Region (North America, Europe, APAC, Latin America, MEA) – Global Forecast to 2026 is projected to reach USD 17.9 billion by 2026, at a CAGR of 4.5%.
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Key Market Player:
The environmental monitoring market is dominated by Agilent Technologies (US), Danaher (US), Thermo Fisher Scientific (US), Shimadzu Corporation (Japan), PerkinElmer (US), 3M (US), Emerson Electric Co. (US), bioMérieux S.A. (France), Honeywell International Inc. (US), Merck KGaA (Germany), Siemens AG (Germany), Emerson Electric Co. (US), and Forbes Marshall (India).
Driver: Increasing need for efficient natural resource management
Natural resource management (NRM) refers to the sustainable utilization of major natural resources, such as land, water, air, minerals, forests, fisheries, and wild flora and fauna.
Most nations economies rely on natural resources for revenue generation, including material resources such as fossil fuels, metals, non-metallic minerals and biomass, water, and land. Using natural resources sustainably to increase their productivity and reduce the rate of depletion would be a win-win for the environment and economic growth.
Economies can become more resilient by reducing material dependence and adopting circular business models. Lower levels of material inputs cut waste flows and emissions, reduce risk factors affecting human health and well-being, and lower short-term production and consumption costs, as well as long-term societal costs. Sustainable management of resources in agriculture, forestry, fishing, mining, and quarrying can limit the environmental impacts of these industries and help mitigate climate change and biodiversity loss
Countries identified to have mega-biodiversity include Australia, the Democratic Republic of the Congo, Madagascar, South Africa, China, India, Indonesia, Malaysia, Papua New Guinea, Philippines, Brazil, Colombia, Ecuador, Mexico, Peru, United States, and Venezuela.
Restraint: High costs associated with environmental monitoring products
Environmental protection has been a concern for the global economy for many years. The monitoring devices used traditionally were time-consuming and offered lower levels of accuracy. Hence, the need for more specific products that can detect toxicity in various environmental components with high accuracy became important. Over the years, technological developments in sensors and different components have led to the development of advanced monitoring systems and digital sensors. The emergence of digital sensors eliminated the unwanted noise and data security concerns associated with analog sensors. These sensors are also easy to deploy, enable easy data transmission, and are relatively low priced compared to analog sensors. Over the years, companies have focused on improving the quality of measurements from digital sensors, and it remains at the center of innovation in the environmental monitoring market.
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The Monitors segment accounted for the largest share of the environmental monitoring market, by product type.
Based on product type, the environmental monitoring market is segmented into monitors and software. The environmental monitors are further divided into indoor monitors, outdoor monitors, and portable monitors. The monitors segment accounted for 88.6% of the global environmental monitoring market, while outdoor environmental monitors segment group accounts for 44.1% of environmental monitors market. The large share of this market segment can be attributed to the increasing adoption of pollution monitoring strategies across industries.
The Continuous Monitoring segment accounted for the largest share of the environmental monitoring market, by sampling method.
Based on the sampling method, the environmental monitoring market is segmented into continuous, active, passive, and intermittent monitoring. The continuous monitoring segment accounted for the largest share of the environmental monitoring market with a share of 57.11%. The large share of this segment can primarily be attributed to the growing public emphasis on the development of environment-friendly industries, real-time monitoring of samples, and the rising levels of environmental pollution in major regions across the globe.
The Particulate Detection segment accounted for the largest share of the environmental monitoring market, by component.
Based on component, the environmental monitoring market is segmented into particulate detection, chemical detection, biological detection, temperature sensing, moisture detection, and noise measurement. The particulate detection is further divided into PM2.5 detection, PM10 detection and other detection, whereas the chemical detection is further segmented into gas detection, volatile organic compound detection, pesticide detection and other chemicals. The particulate detection segment accounted for the largest share of 47.2% of the environmental monitoring market in 2020. This can be attributed to the rising levels of PM2.5 and PM10 in the air, increasing market demand for outdoor and 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 market is expected to grow at the highest CAGR during the forecast period
The environmental monitoring market has been segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of 50.6% of the environmental monitoring market, followed by Europe with a share of 25.5%. On the other hand, the Asia Pacific market is estimated to register the highest growth rate during the forecast period. This can primarily be attributed to the increase in government funding for the establishment of environmental monitoring stations, stringent regulations that support the greater adoption of pollution monitoring technologies, and technological advancements in the field of environmental sensors.
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The growing emphasis of key players on emerging markets in this region, new product launches, and increasing focus on supplier contracts are further fueling the growth of the environmental monitoring market in the Asia Pacific. However, factors such as limited accessibility of environmental monitoring during emergencies and a dearth of trained and skilled technicians in developing Asia Pacific countries hamper the demand for environmental monitoring in this region.
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