Environmental Monitoring Market Forecasting a USD 43.48 Billion Journey by 2030 | Revenue Witnessing a CAGR of 8.2%
Surge in health concerns and deaths due to the rise in pollution levels and the rise in the need for better resource management drive the growth of the market.
PORTLAND, PORTLAND, OR, UNITED STATES, July 27, 2023/EINPresswire.com/ — 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 monitor 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.
The report focuses on the growth prospects, restraints, and trends of global environmental monitoring market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on global environmental monitoring industry.
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According to the report published by Allied Market Research, the global environmental monitoring market generated $19.89 billion in 2020 and is expected 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, key segments, top investment pockets, value chain, regional landscape, and competitive scenario.
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.
Increase in need for better natural resource management, growing health concern and rising deaths due to rising pollution levels, and development of environment-friendly industries have boosted the growth of the global environmental monitoring market. However, slow implementation of pollution control reforms in emerging countries hampers the market growth. On the contrary, rising participation and investments by businesses for deployment of pollution monitoring are expected to create lucrative opportunities in the near future.
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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.
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 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.
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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