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The Global Environmental Monitoring Market Likely to Progress with 8.03% CAGR by 2028

12-06-2022 12:02 PM CET | IT, New Media & Software

Press release from: Triton Market Research

Environmental Monitoring Market

Environmental Monitoring Market

Triton Market Research presents the Global Environmental Monitoring Market report segmented By Component (Environmental Monitors, Environmental Monitoring Sensors, Environmental Wearables, Environmental Monitoring Software), By Pollution Type (Air, Water, Soil, Noise), By Application (Particulate Detection, Chemical Detection, Biological Detection, Moisture Detection, Temperature Sensing, Noise Measurement), and By Geographical Region (North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa), discussing Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter's Five Forces Analysis, Market Attractiveness Index, Vendor Scorecard, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2021-2028).

Triton Market Research, in its report on the Global Environmental Monitoring Market, implies that this industry would grow with a CAGR of 8.03% during the forecasting period from 2021 to 2028.

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The rising environmental concerns and stringent laws & regulations, along with public awareness, have changed the outlook of businesses across the world. Companies play a vital role in attaining sustainability by developing and executing strategies and functions like energy conservation, green processes, product creation, etc. This is because many of them have realized that implementing sustainable business strategies leads to better results and opens up new opportunities. The growing usage of eco-friendly and sustainable practices in all industries is majorly fostering the growth of the environmental monitoring market.

On the contrary, issues concerning the accuracy of data available for environmental monitoring and the high cost of monitoring systems are a major challenge to the development of this market.

The market in the Asia-Pacific is estimated to display the fastest growth rate, all over the world, in the coming years. According to data from the United Nations Environment Programme (UNEP), approx. 6.5 million people die in the region every year, owing to exposure to poor-quality air. Also, 70% of all air pollution-related deaths occur in the APAC. This growing pollution is a major factor that has enhanced the demand for environmental monitoring. Also, the concentrations of particulate matter (PM 10) and fine particulate matter (PM 2.5) can be increasing in several Asian countries. This is also influencing the demand for environmental monitoring over here, in turn, contributing to the market growth.

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Danaher Corporation, Emerson Electric Co, Shimadzu Corporation, Honeywell International Inc, Thermofisher Scientific Inc, Merck KgaA, General Electric Company, Teledyne Technologies Incorporated, 3M, Forbes Marshall, Horiba Ltd, PerkinElmer Inc, Siemens AG, Agilent Technologies Inc, and Aeroqual are the eminent players present in this market.

Though the market largely comprises established names, several new start-ups have emerged in recent years. This has significantly enhanced the level of competition. Further, companies are investing heavily in the R&D of environmental monitoring products to expand their product portfolio and cater to a larger customer base globally. Besides, they are also spending millions of dollars on expanding their services portfolio.

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