Redding, California, Jan. 18, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled “Environmental Monitoring Market by Product (Sensors, [Analog Sensor, Digital Sensor], Environmental Monitors [Fixed Monitors], Environmental Software), Sampling (Continuous Monitoring, Intermittent), Application (Soil Pollution Monitoring) - Global Forecast to 2028”, published by Meticulous Research®, the environmental monitoring market is expected to grow at a CAGR of 7% from 2021 to 2028 to reach $25.95 billion by 2028.
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Environmental monitoring is the systematic sampling of air, water, soil, noise, and biota to characterize and monitor the quality of the environment. Growing environmental concerns such as thinning of the ozone layer, global warming, and acid rain have highlighted the urgent need for monitoring pollutants.
Environmental monitoring devices used traditionally were time-consuming and offered lower levels of accuracy, highlighting the need for more specific products that can accurately detect environmental toxicity. Over the years, technological advancements in sensors and various components have led to the development of advanced monitoring systems and digital sensors. The environmental monitoring market is mainly driven by the factors such as rising government funding towards environmental sustainability, development of policies and initiatives to reduce environmental pollution, rising installation of environmental monitoring stations, and growing importance of environmental monitoring solutions in public-private organizations.
In the past few years, the importance of decisive actions towards achieving environmental sustainability has become of vital essence around the globe. A few environmental sustainability factors that can be put into practice include protecting renewable resources by supporting and advancing sustainable farming, planting home gardens to grow what you eat and buying from local farmers and producers, and purchasing carbon offsets to support reforestation and other regenerative projects; avoiding the consumption of fossil fuels by using renewable energy alternatives; and limiting pollution by composting and supporting clean air and water initiatives.
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Governments and regional associations across the globe are accelerating their investments towards reducing carbon footprint and building an environmentally sustainable economy. Various green investment banks (GIBs) like the UK Green Investment Bank, Malaysian Green Technology Corporation (GreenTech Malaysia), Connecticut Green Bank, Clean Energy Finance Corporation (CEFC), and California CLEEN Center are focusing on investing and funding projects with the potential to reduce greenhouse gas (GHG) emissions. For instance, in 2021, the South Korean Green New Deal was launched as part of a post-COVID-19 endeavor. Green New Deal projects received USD 62.5 billion in public investment, with renewable energy receiving USD 20.7 billion, green infrastructure USD 10.3 billion, and green industrial sectors USD 5.4 billion, respectively. Additionally, in 2020, the Environment Fund provided USD 74.2 million, which was 15% of UN Environment Programme's (UNEP) total expenditure.
The overall environmental monitoring market is segmented on the basis of product (environmental monitoring sensors, environmental monitors, environmental monitoring software, other environmental monitoring products), sampling (intermittent monitoring, continuous monitoring, passive monitoring, active monitoring), application (air pollution monitoring, water pollution monitoring, soil pollution monitoring, and noise pollution monitoring) and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The study also evaluates industry competitors and analyzes their market share at the global and regional level.
In 2021, the environmental monitoring sensors segment accounted for the largest share of the overall environmental monitoring market. The large share of this segment is attributed to the environmental monitoring sensors’ operational flexibility, versatility, small sizes, low maintenance costs, and low space requirements, and technological advances such as the miniaturization of sensors and sensor components.
Based on application, air pollution monitoring segment is projected to grow with the fastest CAGR over the forecast period. The rising levels of air pollution and the growing pressure on governing bodies to implement strict guidelines and regulations to control air pollution support the growth of this segment. In addition, increasing funding and technological advancements in air quality monitoring are some other factors driving the growth of the air quality monitoring segment.
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Based on sampling, in 2021, the continuous monitoring segment accounted for the largest share of the overall environmental monitoring market. Continuous monitoring enables the rapid analysis of pollutants and can help detect increases or decreases in the concentration of pollutants, allowing for faster corrective actions. These benefits, along with increased public access to environmental information and the availability of improved control mechanisms for environment protection, drive the growth of the continuous monitoring segment.
Geographically, in 2021, North America accounted for the largest share of the global environmental monitoring market. Growing adoption of advanced monitoring technologies, rising government investments, strict mandates of the U.S. environmental protection agency, and increasing efforts and initiatives towards environmental protection are the key factors responsible for North America’s largest share in the global market.
The key players operating in the global environmental monitoring market are Danaher Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Merck KGaA (Germany), Agilent Technologies, Inc. (U.S.), TE Connectivity Ltd. (Switzerland), Siemens Group (Germany), Emerson Electric Co. (U.S.), Honeywell International Inc. (U.S.), Teledyne Technologies Incorporated (U.S.), Horiba, Ltd (Japan), Shimadzu Corporation (Japan), and Testo SE & Co. KGaA (Germany) among others.
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Scope of the Report:
Environmental Monitoring Market, by Product
- Environmental Monitoring Sensors
- Environmental Monitoring Sensors Market, By type
- Analog
- Digital
- Environmental Monitoring Sensors Market, By Function
- Temperature Sensing
- Chemical Detection
- Pressure Detection
- Humidity/Moisture Detection
- Particulate Detection
- Noise Measurement
- Other Functions
- Environmental Monitoring Sensors Market, By type
- Environmental Monitors
- Fixed
- Portable
- Environmental Monitoring Software
- Other Environmental Monitoring Products
(Note: Other functions for sensors include biological applications, pH detection, vapor detection, and radiation detection sensors.
Other environmental monitoring products include data loggers, spectrophotometers, analyzers, samplers, detectors, meters, and probes)
Environmental Monitoring Market, by Sampling
- Intermittent Monitoring
- Continuous Monitoring
- Passive Monitoring
- Active Monitoring
Environmental Monitoring Market, by Application
- Air Pollution Monitoring
- Water Pollution Monitoring
- Soil Pollution Monitoring
- Noise Pollution Monitoring
Environmental Monitoring Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
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Related Report:
Environmental Testing Market by Product (Mass Spectrometers, Chromatography Products, Molecular Spectroscopy Products, Toc Analyzers, PH Meters, Dissolved Oxygen Analyzers, Conductivity Sensors, Turbidity Meters), Sample (Wastewater/Effluent, Soil, Water, Air), Technology (Conventional, Rapid), Contaminant (Microbes, Organic Compounds, Heavy Metals, Residues, Solids), End Users (Agriculture and Irrigation Sector, Government Institutes and R and D Laboratories, Industrial Product Manufacturers, Forestry and Geology, Others), and Region - Global Forecast to 2025
https://www.meticulousresearch.com/product/environmental-testing-market-5002
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