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Environmental Monitoring Market is Surge to reach $9.56 Billion by 2021
The market is expected to reach USD 19.56 Billion by 2021, growing at a CAGR of 7.7% during the forecast period.
According to a new market research report "Environmental Monitoring Market by Product (Monitor (Fixed, Portable), Sensor (Analog, Digital), and Software), Sampling Method (Intermittent, Continuous, Active, Passive), Application (Particulate Matter, Air, Gas, Water, Soil, Noise) - Forecast to 2021" published by MarketsandMarkets,
The report analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the world (RoW). Factors such as increasing number of government initiatives to control environmental pollution levels, increasing government funding for pollution control and monitoring, ongoing installations of environment monitoring stations, and growing initiatives for the development of environment-friendly industries are propelling the growth of the Environmental Monitoring Market. On the basis of product, the global
Environmental Monitoring Market is divided into three major categories, namely, environmental monitors, environmental sensors, and environmental monitoring software. Environmental monitors are further categorized into fixed monitors and portable monitors.
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The environmental sensors segment is further divided on the basis of product architecture (analog sensors and digital sensors) and on basis of applications (temperature sensing, moisture detection, chemical detection, biological detection, particulate detection, and noise measurement). The environmental monitoring segment is expected to command the largest share in the global Environmental Monitoring Market in 2016. This large market share can primarily be attributed to rising use of sensors for pollution monitoring, growing demand for water and air monitoring sensors in developing markets, and expansions in the installation base for environmental monitors.
On the basis of sampling methods, the global Environmental Monitoring Market is divided into four major categories, namely, intermittent monitoring, continuous monitoring, passive monitoring and active monitoring. The continuous monitoring segment is expected to command the largest share of the global Environmental Monitoring Market in 2016. This large market share can be attributed to growing emphasis on the development of environment-friendly industries and rising levels of environmental pollution across major markets.
North America is expected to be the largest regional segment in the global Environmental Monitoring Market in 2016, followed by Europe. However, the Asia-Pacific market is expected to grow at the highest CAGR from 2016 to 2021. Factors such as rapid industrialization in Asia-Pacific countries (such as China and India), implementation of increasingly stringent environmental regulation policies, and the growing need to comply with various environmental safety regulations are stimulating the growth of the Environmental Monitoring Market in the Asia-Pacific region.
As of 2015, Agilent Technologies, Inc. (U.S.), Danaher Corporation (U.S.), Honeywell International Inc. (U.S.), Siemens AG (Germany), Thermo Fisher Scientific Inc. (U.S.), TE Connectivity Ltd. (Switzerland), General Electric Company (U.S.), Emerson Electric Co. (U.S.), Teledyne Technologies Inc. (U.S.), and Merck KGaA (Germany) are some of the key players operating in the global Environmental Monitoring Market.
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