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Environmental Monitoring market Size
Rising pollution-related health concerns, demand for resource management, & growth of eco-friendly industries drive the environmental monitoring market growth.
WILMINGTON, DE, UNITED STATES, October 17, 2024 /EINPresswire / -- 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 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.
According to the report, the global environmental monitoring market Size 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.
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Environmental monitoring involves assessing environmental quality to mitigate pollution risks. The key objective of an environmental monitoring system is to track various factors such as temperature, humidity, airflow, and smoke, while also recording this data with live video streaming through a high-quality camera. Additionally, the market aids in providing real-time information on harmful pollutant emissions, enabling necessary precautions to reduce pollution.
The numerous advantages of environmental monitoring, such as preventing occupational diseases, enhancing a company's public image, and reducing pollution, are key drivers of market growth. Furthermore, rising health concerns, increasing pollution-related deaths, and the growing demand for better resource management are contributing to market expansion. The ongoing deployment of monitoring sensors and the development of eco-friendly industries also support growth. However, high product costs and the slow adoption of pollution control reforms in emerging nations may hinder market progress. Despite this, increased business participation and investments in pollution monitoring technologies are expected to offer significant opportunities for future market growth.
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 market across Asia-Pacific is expected to manifest the fastest CAGR of 10.2% during the forecast period, owing to rise in level of water, air, and soil pollution in developing countries such as China and India.
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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.
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 helping 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.
Major market players
Honeywell International, Inc.
Emerson Electric Co.
General Electric
Thermofisher Scientific
Teledyne Technologies Incorporated
TE Connectivity
3M
Siemens AG
Danaher Corporation
Merck KGaA
The report focuses on the growth prospects, restraints, and environmental monitoring market trends. 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 market.
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