According to a recent report published by Allied Market Research, titled, “Environmental Monitoring Market by Component, Product Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The global environmental monitoring market size was valued at $19.89 billion in 2020, and is projected to reach $43.48 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030. The report provides a detailed analysis of changing market trends, key segments, top investment pockets, value chain, regional landscape, and competitive scenario.
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Environmental monitoring involves the evaluation of the quality of the environment to control the risk of pollution. The primary goal of environment monitoring system is to monitors different environmental factors such as temperature, humidity, airflow, smoke, and to keep a detail record of these factors with a live video streaming using a high-quality camera. Furthermore, environmental monitoring market helps in gaining live information about present harmful pollutant discharge in the environment and to minimize this harmful pollutant by taking various precautions.
Numerous benefits associated with environment monitoring, such as preventing occupational diseases, improving the company’s public image and reducing environmental pollution, are the lucrative factors that boost the growth of the environmental monitoring market size. In addition, rise in health concern and increase in deaths due to rise in pollution levels and surge in the need for better resource management drive the growth of the market.
In addition, ongoing installation of environmental monitoring sensors and development of environmentally friendly industries propels the growth of the market. However, high product costs and slow implementation of pollution control reforms in emerging countries are expected to impede the environmental monitoring market growth. Furthermore, rise in participation and investments by businesses for deployment of pollution monitoring is expected to present major opportunities for the expansion of the market in future.
Environmental Monitoring Market Segmentation:
Based on component, the particulate detection segment held the highest share in 2020, contributing to nearly one-third of the total share, and is estimated to maintain its leadership status during the forecast period. However, the biological detection segment is expected to manifest the highest CAGR of 11.4% from 2021 to 2030.
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Based on application, the air pollution monitoring segment accounting for the highest share in 2020, holding more than two-fifths of the global environmental monitoring market and is projected to continue its lead position throughout the forecast period. However, the water pollution monitoring segment is expected to register the largest CAGR of 9.8% from 2021 to 2030.
Depending on product type, the environmental monitoring sensors segment dominated the environmental monitoring market in 2020, and is expected to continue this trend in the upcoming years. This is attributed to increasing public awareness about the health implications and need for monitoring indoor environmental pollution. However, the wearable environmental monitors segment is expected to witness the highest growth rate during the forecast period due to increase in adoption of wearable environmental monitoring technology among the people as it offer several benefits such as monitoring environmental pollutants and detecting biomarkers for medical conditions.
Based on region, North America contributed to the highest market share in 2020, accounting for more than one-third of the total share, and is estimated to maintain its dominant share in terms of revenue by 2030. However, Asia-Pacific is expected to portray the fastest CAGR of 10.6% during the forecast period.
Leading players of the global environmental monitoring market analyzed in the research include 3M, Emerson Electric Co., Danaher, Honeywell International Inc., General Electric, Siemens AG, Merck KGaA, TE Connectivity Ltd., Teledyne Technologies Incorporated, and Thermo Fisher Scientific Inc.
Covid-19 Scenario:
- The adoption of environmental monitoring platforms in the healthcare industry increased as it provides several benefits such as saving money and excellent quality of care to patients by reducing the risk of healthcare-associated infections.
- The private sector used environmental monitoring technologies to understand the risks in their facilities and take vital actions such as human testing and contact tracing to lower down the possibility of the Covid-19 infection. This, in turn, drives the growth of the market during the pandemic.
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Key Benefits for Stakeholders
- The study provides an in-depth analysis of global environmental monitoring market forecast along with the current environmental monitoring market trends and future estimations to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on global environmental monitoring market share is provided in the report.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the environmental monitoring market size from 2021 to 2030 is provided to determine the market potential.
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