Environmental Monitoring Market to Reach USD 43.48 Billion by 2030: Smart Solutions for a Greener Future

According to the report published by Allied Market Research, the global environmental monitoring market generated $19.89 billion in 2020 and is expected to reach $43.48 billion by 2030, witnessing a CAGR of 8.2% from 2021 to 2030. The report provides a detailed analysis of changing market trends, key segments, top investment pockets, value chain, regional landscape, and competitive scenario.

The rise in the need for efficient natural resource management increased health concerns due to the rise in pollution levels, and the development of environment-friendly industries drive the growth of the global environmental monitoring market. However, the slow speed of implementation of pollution control reforms in emerging countries restrains market growth. On the other hand, an increase in investments by businesses for the deployment of pollution monitoring solutions creates new opportunities in the coming years.

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COVID-19 scenario:

➢ The adoption of environmental monitoring platforms in the healthcare industry increased as it provides several benefits such as saving money and excellent quality of care to patients by reducing the risk of healthcare-associated infections.

➢ The private sector used environmental monitoring technologies to understand the risks in their facilities and take vital actions such as human testing and contact tracing to lower down the possibility of the Covid-19 infection. This, in turn, drives the growth of the market during the pandemic.

The world's population is rapidly becoming more urbanized, and this trend is accelerating. Research suggests that by 2050, approximately 9 billion people are projected to reside in cities and urban areas, which will be a major contributor to the impending shortage of resources. Additionally, as cities play a central role in driving economic development in many nations, urbanization is expected to continue to grow in the near future. To address the challenges posed by increasing urbanization and climate change, it is imperative to harness innovation and digital technology to reduce energy consumption and enhance the quality of urban life.

The integration of innovation with energy, digital technology, and information and communications technology is essential to tackle urbanization issues and ensure sustainability. This is anticipated to propel the growth of the environmental monitoring market in the coming years. Moreover, promoting the use of solar energy is a crucial step. Government initiatives have already been initiated to promote the adoption of solar energy. However, the current utilization of gas in conjunction with solar and wind energy stands at less than 2%, signifying the significance of this aspect.

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The report offers detailed segmentation of the global environmental monitoring market based on component, product type, sampling method, application, and region.

Based on component, the particulate detection segment held the highest share in 2020, contributing to nearly one-third of the total share, and is estimated to maintain its leadership status during the forecast period. However, the biological detection segment is expected to manifest the highest CAGR of 11.4% from 2021 to 2030.

Based on application, the air pollution monitoring segment accounting for the highest share in 2020, holding more than two-fifths of the global environmental monitoring market and is projected to continue its lead position throughout the forecast period. However, the water pollution monitoring segment is expected to register the largest CAGR of 9.8% from 2021 to 2030.

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Based on region, North America contributed to the highest market share in 2020, accounting for more than one-third of the total share, and is estimated to maintain its dominant share in terms of revenue by 2030. However, Asia-Pacific is expected to portray the fastest CAGR of 10.6% during the forecast period.

Leading Market Players:

➢ 3M

➢ Emerson Electric Co.

➢ Danaher

➢ Honeywell International

➢ General Electric

➢ Siemens AG

➢ Merck KGaA

➢ TE Connectivity Ltd.

➢ Teledyne Technologies Incorporated

➢ Thermo Fisher Scientific Inc.

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