CHICAGO, June 27, 2024 /PRNewswire/ -- Environmental Monitoring Market in terms of revenue was estimated to be worth $14.7 billion in 2024 and is poised to reach $18.6 billion by 2029, growing at a CAGR of 4.9% from 2024 to 2029 according to a new report by MarketsandMarkets.
Factors such the increasing public awareness about the health implications of environmental pollution, growing government emphasis on compliance to pollution monitoring standards, and rising levels of PM2.5 in the air are high growth prospects for the environmental monitoring market during the forecast period.
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Browse in-depth TOC on "Environmental Monitoring Market"
174 - Tables
39 - Figures
217 - Pages
Environmental Monitoring Market Scope:
Report Coverage | Details |
Market Revenue in 2024 | $14.7 billion |
Estimated Value by 2029 | $18.6 billion |
Growth Rate | Poised to grow at a CAGR of 4.9% |
Market Size Available for | 2021-2029 |
Forecast Period | 2024-2029 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Product, Sampling Method, Component, Application, End user, and Region |
Geographies Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunities | Supportive rules and regulations by government to reduce environmental pollution |
Key Market Drivers | Need for efficient natural resource management |
The monitor's segment is to register a significant growth rate over the forecast period of 2024-2029.
Based on the product, over the forecast period of 2024-2029, the monitors segment is to register a significant growth rate. The environmental monitoring product market is segmented into monitors and software. The monitors segment comprises indoor monitors, outdoor monitors, and portable monitors. The key factors encouraging the growth of monitors segment during the forecast period are the growing installation of environmental monitoring systems/stations/equipment and the continuous development and commercialization of outdoor environment monitoring sensors.
The air pollution monitoring segment accounted for the largest share of environmental monitoring in 2024-2029.
Based on application, during the forecast period, the air pollution monitoring segment is anticipated to dominate the environmental monitoring market, holding the largest market share. The segment commands a significant share due to the implementation of rigorous air pollution control regulations by numerous governments, heightened levels of air pollution in major markets like the US, Europe, China, India, and the Middle East, escalating health anxieties, and the rising acceptance and demand for sensor-based air quality monitoring systems.
Asia Pacific registered the highest CAGR in the market during the forecast period.
In 2024, Asia Pacific is expected to register the highest CAGR in the market for environmental monitoring during the forecast period. Asia Pacific comprises China, India, South Korea, Taiwan, and Singapore, and the rest of Asia Pacific. Factors such as the technological advancements in the field of environmental sensors, increase in government funding for the establishment of environmental monitoring stations and greater adoption of pollution monitoring technologies are driving the growth of the APAC environmental monitoring market during the forecast period.
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Environmental Monitoring Market Dynamics:
Drivers:
1. Need for efficient natural resource management
Restraints:
1. High costs of environmental monitoring devices
Opportunities:
1. Supportive rules and regulations by government to reduce environmental pollution
Challenge:
1. Slow adoption of pollution control policies
Key Market Players of Environmental Monitoring Industry:
As of 2023, prominent players in environmental monitoring are 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), among others.
A breakdown of the primary participants referred to for this report is provided below:
- By Company Type: Tier 1- 25%, Tier 2- 37%, and Tier 3- 38%
- By Designation: C-level- 34%, Directors- 35%, and Others- 31%
- By Region: North America- 24%, Europe- 32%, Asia Pacific- 28%, Latin America- 10%, MEA- 6%
Recent Developments:
- In March 2024, Emerson Electric co. launched Rosemount 3490 Controller that helps to optimize processes, enhance sustainability and ensure regulatory compliance for water and wastewater applications
- In December 2021, Honeywell International Inc. announced a user-friendly monitor that alerts users when indoor air conditions may present an increased risk of potentially transmitting airborne viruses.
- In February 2021, 3M invested $1 Billion to achieve carbon neutrality, reduce water use, and improve water quality
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Environmental Monitoring Market - Key Benefits of Buying the Report:
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their market presence.
This report provides insights on the following pointers:
- Analysis of key drivers (Increasing need for efficient natural resource management, Development of wireless cellular and non-cellular communication technologies, Increased health concerns due to rising pollution levels), restraints (High costs associated with environmental monitoring products), opportunities (Increased health concerns due to rising pollution levels, Supportive government rules and regulations to reduce environmental pollution, Growing oil & gas industry, Development of high-end environmental monitoring systems based on nanotechnology), and challenges (Slow adoption of pollution control policies) influencing the growth of the environmental monitoring market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the environmental monitoring market
- Service Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and service developments in the environmental monitoring market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new services, growing geographies, and recent developments in the environmental monitoring market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and services of the leading market players.
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