Environmental Monitoring Market Size 2024: Insights on Leading Players and Competitive Landscape until 2029

The Global "Environmental Monitoring Market in terms of revenue was estimated to be worth $14.7 billion in 2024 and is poised to reach $18.6 billion by 2029, growing at a CAGR of 4.9% from 2024 to 2029. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.

During the forecast years, the growth of the market is attributed to increasing public awareness about different environmental pollution and related health issues, strict pollution monitoring standards by government, deterioration of air quality due to rise in PM2.5 levels.

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Key Market Player:

As of 2023, prominent players in the environmental monitoring market are Agilent Technologies (US), Danaher Corporation (US), Thermo Fisher Scientific (US), Shimadzu Corporation (Japan), PerkinElmer (US), 3M (US), Emerson Electric Co. (US), bioMérieux S.A. (France), Honeywell International Inc. (US), Merck KGaA (Germany), Siemens AG (Germany), and Forbes Marshall (India), among others.

Driver: Need for efficient natural resource management

The main driving force for the growth of the environmental monitoring market is the increasing need for efficient natural resource management. Economies rely on natural resources (biomass, water, and land) including material resources (fossil fuels, metals and non-metallic minerals) for revenue generation. Most nations are now adopting circular business models and are becoming resilient by reducing dependence on material. Limiting the environmental impacts of agriculture, forestry, fishing, mining, and quarrying industries by sustainable management of resources thus help mitigate climate change.

Restraint: High costs of environmental monitoring devices

The material used in the development of monitoring devices significantly contributes to the cost of the advanced monitoring devices. For instance, technological advancements in sensors have revolutionized monitoring systems, with digital sensors addressing noise and security issues once prevalent in analog counterparts. Continuous innovation in sensor and depth print components has driven the development of sophisticated monitoring solutions, with a focus on enhancing measurement accuracy and reliability. Digital sensors offer cost-effective solutions, simplified installation, and seamless data transmission, making them the preferred choice for various applications.

Opportunity: Supportive rules and regulations by government to reduce environmental pollution

To reduce industrial pollutants and to promote cleaner technologies the "Policy Statement for abatement of pollution, 1992" and "National Conservation Strategy and the Policy Statement on Environment & Development, 1992" were emphasized. The Ministry of Environment and Forests prioritizes safeguarding animal welfare and mitigating pollution, particularly in aquatic ecosystems like lakes and rivers, as well as preserving biodiversity, forests, and wildlife. The primary emphasis is on implementing policies and initiatives geared towards preserving the natural resources of the nation.

Challenge: Slow adoption of pollution control policies

The slow adoption of pollution control policies is a major concern worldwide. In the past decade, a combination of energy and pollution control policies, along with structural shifts in the economy, has disconnected emission trends from economic expansion. The external costs of air pollution, as well as the adverse impacts of individual pollutants on human health and the environment, are quantified using a standardized metric-a monetary value devised through collaboration among various scientific and economic fields. While National Pollution Control Regulations aim to facilitate economic growth without significant degradation of air quality, they may not suffice to lower pollution levels in many areas. The establishment of the European Pollutant Release and Transfer Register (EPTR) in 2006 was intended to improve public access to environmental data.

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By product, the monitors segment accounted for the largest share of the environmental monitoring industry during the forecast period.

Based on the product, the environmental monitoring is segmented into monitors and software. Environmental monitors are further sub-segmented into indoor monitors, outdoor monitors, and portable monitors. The monitors segment accounts for the largest share of the environmental monitoring market. The increase in industry adoption of pollution monitoring strategies also the continuous development and commercialization of outdoor environment monitoring sensors and increasing public awareness contribute to the large share.

By sampling method, the continuous monitoring segment of the environmental monitoring industry is expected to grow at the highest rate during the forecast period.

Based on the sampling method, the environmental monitoring market is divided into active, passive, intermittent, and continuous monitoring. In 2024, the continuous monitoring segment is projected to hold the biggest market share throughout the forecast period. This growth is driven by growing focus on the development of eco-friendly industries, the need for real-time sample monitoring and the increasing environmental pollution levels in major regions worldwide.

By application, the air pollution monitoring segment of the environmental monitoring industry is expected to witness significant growth during the forecast period.

Based on the application, the environmental monitoring market is divided into air pollution monitoring, noise pollution monitoring, water pollution monitoring and soil pollution monitoring. Within water pollution monitoring segment there are sub-segments including wastewater monitoring and surface & groundwater monitoring. The air pollution monitoring segment is expected to witness significant growth during the forecast period. The growing acceptance and demand for sensor-based air quality monitoring systems have led to the significant growth and dominance of the segment in the industry in the upcoming years.

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Recent Developments of Environmental Monitoring Industry:

- In March 2024, Emerson Electric co. launched Rosemount 3490 Controller that helps to optimize processes, enhance sustainability and ensure regulatory compliance for water and wastewater applications

- In December 2021, Honeywell International Inc. announced a user-friendly monitor that alerts users when indoor air conditions may present an increased risk of potentially transmitting airborne viruses.

- In February 2021, 3M invested $1 Billion to achieve carbon neutrality, reduce water use, and improve water quality

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