The global environmental monitoring system market is expected to display higher growth rate in the upcoming years. Rapid surge in the market is credited to the growing importance towards regulatory compliance and necessity of environmental monitoring to curb carbon emission. The rising need for environmental monitoring system to limit air and water pollution is expected to drive the growth of environmental monitoring system market over the forecast period. Globally, market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of environmental monitoring systems.
Rise in number of government initiatives to monitor and limit environmental pollution levels, surge in investment by local governments for pollution control and monitoring, and rapid increase in installation of environment monitoring stations are expected to fuel the growth of the market over the forecast period. In addition, development of eco-friendly industries is a key market trend associated with the robust growth of environmental monitoring system market over the past few years.
Rapid industrialization and urbanization in developing economies such as Brazil, China, and India is fostering the need for environmental monitoring system, thus offering several growth opportunities for industry players during the forthcoming years. An environment monitoring system consists of various portable ground system, high-end sensors, satellites, measurement devices, and real-time data systems.
The environmental monitoring system market is broadly categorized into major segments based on the application type such as particulate matter pollution, air pollution, gas systems, water pollution, soil pollution, and noise pollution. Air pollution segment is growing rapidly in the market with substantial revenue generation in the last few years. Growing popularity of environmental monitoring system in air pollution segment is attributed to the rising product penetration in the global market and rising awareness level among general population.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in manufacturing sector, surge in number of research & development activities and existence of well-established industrial infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth over the coming years.
Asia-Pacific region is estimated to hold a major share in the environmental monitoring system market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, favorable government policies to promote adoption of environmental monitoring systems, shifting preference towards renewable energy, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the environmental monitoring system market are Danaher Corp., Honeywell International Inc., Siemens AG, Thermo Fisher Scientific Inc., TE Connectivity Ltd., General Electric Co., Emerson Electric Co., Teledyne Technologies Inc., and Merck KGaA.