An increase in the need for efficient natural resource management and the development of environment-friendly industries are some of the factors that drive the growth of the global environmental monitoring market.
Allied Market Research published a research report on the environmental monitoring market. The findings of the report states that the global market for environmental monitoring generated $19.89 billion in 2020, and is estimated to reach $43.48 billion by 2030, witnessing a CAGR of 8.2% from 2021 to 2030. The report provides a detailed analysis of changing market trends, top segments, key investment pockets, and competitive landscape for investors, shareholders, market players, and new entrants.
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Rachita Rake, Research Analyst, ICT at Allied Market Research, highlighted, “The air pollution monitoring segment is expected to experience significant growth in the coming years, owing to increase in partnership between environmental monitoring companies to develop air quality checking technology.”
The research offers an extensive analysis of drivers, restrains, and opportunities to enable market players gain insights for strategizing and tapping on new opportunities. Increase in the need for efficient natural resource management, surge in health concerns with increased in pollution levels, and the development of environment-friendly industries are some of the factors that drive the growth of the global environmental monitoring market. However, low rate of implementation of pollution control reforms in developing nations limit the market growth rate. Contrarily, surge in investments by businesses for deploying pollution monitoring solutions presents new opportunities in the coming years.
The research offers an extensive scenario of Covid-19 along with outlining its impact on the environmental monitoring market across the world. The adoption of environmental monitoring products raised in the healthcare industry as it offers different benefits in terms of cost-saving and high quality of patient care by lowering the risks related to healthcare-associated infections. Moreover, the private sector adopted the environmental monitoring technologies for gaining insights on the risks posed in their facilities and taking necessary actions such as human testing and contact tracing to reduce the possibility of the cross-contamination of the Covid-19. This led to growth of the environmental monitoring market during the pandemic.
The report offers a detailed analysis of segments of the global environmental monitoring market based on component, product type, sampling method, application, and region. This analysis offers insights for startups, investors, and leading market players to identify the highest revenue generating and fastest growing segments.
Based on component, the particulate detection segment accounted for the highest share in 2020, holding nearly one-third of the total market share. However, the biological detection segment is projected to register the highest CAGR of 11.4% from 2021 to 2030. Based on product type, the environmental monitoring sensors segment held the highest market share in 2020, and is projected to continue its dominance in the forecast period. This is due to rise in public awareness about the health implications and need for tracking indoor environmental pollution. However, the wearable environmental monitors segment is projected to witness the fastest CAGR during the forecast period, due to surged adoption of this technology among people.
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Based on region, North America held the highest market share in 2020, contributing to more than one-third of the total market share, and is projected to maintain its dominance in terms of revenue by 2030. However, Asia-Pacific is estimated to witness the largest CAGR of 10.6% during the forecast period, due to rise in environmental pollution levels across China, Japan, and India.
Leading players of the global environmental monitoring market analyzed in the research include 3M, Danaher, Emerson Electric Co., General Electric, Honeywell International Inc., Merck KGaA, Siemens AG, Teledyne Technologies Incorporated, TE Connectivity Ltd., and Thermo Fisher Scientific Inc.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.