Environmental monitoring market size is projected to reach $29234.12 million by 2026 | CAGR 7.60%
Rapidly increasing consumer awareness regarding rising pollution levels and stringent government regulations regarding tracking and curbing pollution.
PORTLAND, PORTLAND, OR, UNITED STATES, August 9, 2021 /EINPresswire.com/ — Rising pollution levels, a favorable regulatory scenario, the ongoing installation of environmental monitoring stations, the development of environment-friendly industries, increasing awareness, and the expansion of pollution monitoring infrastructure across emerging markets are the major growth drivers of the global environmental monitoring market.
The increasing government funding towards environmental sustainability, development of policies and initiatives to reduce environmental pollution levels, rising installations of environmental monitoring stations, and increased adoption of environmental monitoring strategies by the public and private companies are propelling the market growth. In addition, the use of internet of things (IoT) technology and nanotechnology provide lucrative opportunities for the growth of the market.
The global environmental monitoring market was pegged at $16.44 billion in 2018 and is expected to reach $29234.12 million by 2026, registering a CAGR of 7.6% from 2019 to 2026.
The air pollution monitoring segment held the largest share in 2018, contributing to nearly half of the global environmental monitoring market, owing to rise in the level of air pollution across the globe. However, the noise pollution monitoring segment is expected to register the fastest CAGR of 11.1% during the forecast period, owing to the various regulation taken by the government for minimizing the noise across the global.
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The market across North America dominated in 2018, contributing to around two-fifths of the total revenue, owing to the stringent pollution monitoring and control regulations made by the government. However, the global environmental monitoring marir, and soil pollution in developing countries such as China and India.
The noise measurement segment is projected to portray the fastest CAGR of 8.8% through 2026, owing to rise in installation of these devices for deploying the noise control programs and he lping the workplace to identify which places have noise problems. However, the particulate detection segment held the largest share in 2018, accounting for more than one-fourth of the global environmental monitoring market, due to rise in air pollution owing to harmful chemicals releases in the air by several chemical industries.
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Profiling Key Players: Honeywell International, Inc., General Electric, Emerson Electric Co., Teledyne Technologies Incorporated, Thermofisher Scientific, 3M, Siemens AG, TE Connectivity, Merck KGaA, and Danaher Corporation.
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