Innovation to Drive Environmental Sensing Technologies Market
Increasing population, global climate change, growing awareness among governments to reduce environmental pollution, increasing global investment in environmental management and rapidly expanding Internet of Things (IoT) technology are identified as the major growth factors drivers the global environmental sensing and monitoring technologies market. Implementation of national policies to reduce pollution emissions by emerging and developing economies, continuous technical advancement sensing technologies and increasing investment for advanced research to develop new monitoring technologies further accelerates the growth of environmental sensing and monitoring technologies market. Also, introduction to new mandatory guidelines for industrial and manufacturing sectors to measure and report carbon emission, government initiatives in emerging economies to provide emission allowances for manufacturing sector, influences the growth of Environmental Sensing and Monitoring Technologies Market. However, lack of awareness, budgetary constraints to adapt new technology and differential standards and regularity models are identified as the restraints for the growth of environmental sensing and monitoring technologies market, amidst the forecast period 2016-2026.
Environmental sensor market can be segmented on the basis of product type, application and end user. On the basis of product type, environmental sensor market is segmented into analog and digital. On the basis of application, environmental sensor market is segmented into pressure & vibration sensor, fluid sensor, temperature sensor, moisture sensor, chemical sensor, gas sensor and sound sensor. The environmental monitoring market can be segmented on the basis of sampling method, application and end user. On the basis of sampling method, environmental monitoring market is segmented into active monitoring, passive monitoring, continuous monitoring and intermediate monitoring. On the basis of application, environmental monitoring market can be segmented into water pollution monitoring, air pollution monitoring, soil pollution monitoring and noise pollution monitoring. By end user, environmental sensing and monitoring technologies market can be segmented into defense, ocean, meteorology and industrial.
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Environmental sensing and monitoring technologies market is witnessing robust growth in all major regions including North America, Latin America, Western Europe, Eastern Europe, Middle East, Africa and Asia Pacific and is expected to witness a double digit CAGR during the forecast period. Asia Pacific market is expected to lead the market during the forecast period, especially china and India is expected to dominate the market, due to rapid industrialization, water scarcity, increasing costs of fresh water, and immediate need for air pollution control solutions.
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The key vendors in the global environmental sensing and monitoring technologies market include TE Connectivity Ltd., Ball Aerospace, Lockheed Martin Corporation, Gems Sensors, Inc., Siemens AG, Honeywell International, Inc., Agilent Technologies, Eaton, Environmental Monitoring Solutions Limited, Air-Met Scientific Pty Ltd, Ecotech, Coastal Environmental Systems, Inc. Collaborating with other players is the key strategy followed by major market vendors to gain competitive edge, for instance in 2014 TE Connectivity acquired American Sensor Technologies, Inc.
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