The global environmental monitoring market is poised to grow at a CAGR of 7.5% during 2015-2020, and is expected to reach a value of ~ $20.5 Billion in 2020.
Based on the type of products, the global Environmental Monitoring Market is classified into three major segments, namely, environmental monitors (fixed and portable), environmental sensors, and environmental software. Moreover, based on type of sampling method, the global Environmental Monitoring Market is classified into four segments, namely, intermittent monitoring, continuous monitoring, passive monitoring, and active monitoring.The global environmental sensors market is further classified based on product type (analog and digital) and application (temperature sensing, moisture detection, biological detection, chemical detection, and noise measurement).
Additionally, the global Environmental Monitoring Market is segmented based on applications into air pollution, water pollution, soil pollution, and noise pollution monitoring applications.A number of factors such as growing global population, development of policies and initiatives aimed to reduce air, soil, and water pollution, increasing government funding towards pollution prevention and control, growing construction of environmental monitoring stations, growing initiative towards the development of environment-friendly industries, and reduction in export tariff on environmental monitoring technologies in emerging and developed markets are fuelling the growth of the global Environmental Monitoring Market.
On the other hand, high cost of environmental monitoring solutions, slow implementation of pollution control reforms, and high export barrier on environmental technologies in emerging markets are some of the key factors hampering the market growth.
As of 2015, North America is expected to hold the largest share of the Environmental Monitoring Market, followed by Europe.
However, the Asia-Pacific market is expected to grow at highest CAGR during 2015 to 2020.
A number of factors such as large-scale industrialization, development of new environmental policies, and growing need to comply with various environmental safety regulations across the region are stimulating the growth of the Environmental Monitoring Market in the Asia-Pacific region.
Agilent Technologies, Inc. (U.S.), TE Connectivity Ltd. (Switzerland), Danaher Corporation (U.S.), E.S.I. Environment Sensors Inc. (Canada), Honeywell International, Inc. (U.S.), Lockheed Martin Corporation (U.S.), Ball Aerospace and Technologies Corporation (U.S.), The Raytheon Company (U.S.), Siemens AG (Germany), and Thales Group (France) are the major players in the global Environmental Monitoring Market.
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