The global environmental monitoring market size is expected to reach USD 34.9 billion by 2028 at a CAGR of 9.5%, according to a new report by Reports and Data.
Global climate patterns have been seriously affected by rapid urbanization and industrialization across the globe. Countries such as India and China, where industrialization has been the fastest in the last few decades and the least strict regulatory landscape, have been at an all-time high in pollution levels. Many developed countries have outsourced their manufacturing facilities to developing countries, causing air, water and soil quality in these countries to deteriorate. However, the global pressure on these countries to control their levels of pollution is growing, creating significant opportunities for the market for environmental monitoring.
Over the past decade, only a few countries in Europe and Central Asia have been able to maintain monitoring activities, according to the United Nations' European Commission for Europe (UNECE).
Governments of many developing nations have been evasive about enforcing such restrictions because they claim that economic development is best served by the underprivileged masses of their countries than by environmental stability. This may limit the growth of the environmental monitoring market to some degree.
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The situation you describe is a common challenge faced by many developing countries that seek to balance economic growth with environmental protection. While economic development is crucial for lifting people out of poverty, it must be pursued in a sustainable manner that does not compromise the environment or the health of communities.
Governments in developing countries can take several steps to address this challenge. One of the most important is to invest in education and training for professionals in environmental monitoring and regulation. This will enable these countries to develop the necessary expertise and infrastructure to implement effective pollution control measures.
Governments can also provide incentives for industries to adopt environmentally sustainable practices, such as tax breaks for companies that invest in pollution control technology or regulations that require industries to reduce their environmental impact. Such incentives can help to balance economic growth with environmental protection.
Key Report Highlights:
- In February 2021, that it has acquired Australia based company, Environmental Monitoring Solutions (EMS). The move will enable Titan Cloud to expand its portfolio of wetstock management solutions and accelerate its expansion in non-U.S. markets
- The services segment is expected to register the highest CAGR from 2018 to 2028. Increasing demand for the deployment of new environmental systems and upgrading of existing infrastructure is expected to be a key growth driver. The rise in government funding and the inclusion of environmental monitoring systems as part of smart city initiatives worldwide are also expected to drive the segment.
- The market was segmented into active, continuous, intermittent and passive monitoring solutions on the basis of the sampling method. In terms of revenue, the continuous monitoring segment led the market in 2020 and is also expected to exhibit the highest CAGR over the forecast period.
- The demand for environmental monitoring has been classified into particulate matter, temperature, biological, moisture, chemical, and noise dependent on components. In 2020, the particulate matter segment held the highest revenue share.
- In the past decade, increasing public awareness and emphasis on measuring and reducing pollution to decrease health hazards has also led to market growth. An increasing number of contamination cases is also a key factor in the pharmaceutical and specialist food industries, driving the deployment of continuous monitoring systems.
- The water pollution segment is anticipated to experience significant growth over the forecast period. There has been an increasing demand for the deployment of water pollution monitoring systems to analyse water quality in natural bodies of water.
- Due to the increasing focus on the implementation of environmental monitoring systems to improve living standards and regulate pollution levels, Asia Pacific is expected to be the fastest-growing regional market. Over the last few years, countries in the Asia Pacific have been gradually focusing on reducing emissions levels as part of global climate change efforts.
some leading companies operating in the global Keyword market:
3M; Agilent Technologies; Danaher Corporation; Emerson Electric; General Electric Company; Honeywell International Inc.; Horiba, Ltd.; Siemens; Teledyne Technologies Inc.; and Thermo Fisher Scientific, Inc
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Another important step is to engage communities in the decision-making process around environmental regulation. This can help to build support for pollution control measures and ensure that the needs and concerns of affected communities are taken into account.
Finally, governments can work together with international organizations and developed countries to access financing and technical support for pollution control measures. This can help to overcome some of the financial and technological barriers to implementing effective environmental regulations.
The global market is further segmented into type and application:
Product Outlook (Revenue, USD Million, 2018 - 2028)
- Monitors
- Indoor
- Outdoor
- Portable
- Software
- Services
Sampling Method Outlook (Revenue, USD Million, 2018 - 2028)
- Active
- Continuous
- Intermittent
- Passive
Component Outlook (Revenue, USD Million, 2018 - 2028)
- Temperature
- Moisture
- Biological
- Chemical
- Particulate Matter
- Noise
Application Outlook (Revenue, USD Million, 2018 - 2028)
- Air Pollution
- Water Pollution
- Soil Pollution
- Noise Pollution
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Overall, it is important for governments in developing countries to recognize the importance of environmental protection and to take action to balance economic growth with environmental sustainability. By investing in education and infrastructure, providing incentives for sustainable practices, engaging communities, and seeking international support, these countries can make progress towards a more sustainable future.
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