Environmental Monitoring System Estimated to Grow with a Healthy CAGR
Posted by Ehtesham on February 7th, 2020
The global environmental monitoring market is set to demonstrate a steady growth, which is recorded to be 10% CAGR during the forecast period 2016 to 2022, reveals Market Research Future in its detailed study. The study also shows the driving factors, segmental analysis, and regional analysis to gain information about the market’s growth.
Market Scope & Drivers
The purpose of environmental monitoring is to evaluate the progress of environmental objectives and assist in detecting rising environmental issues. It works on a technology that is used for monitoring air pollution, water pollution, land contamination, and waste management, and other environmental problems. The essential process is also to protect the sensitive environment from the growing world population & associated demands.
Therefore, the significant factors driving the growth of the environmental monitoring market are rising government initiatives having aim to protect environment from air pollution, water pollution and another kind of hazards. Other factors such as the rising implementation of environmental monitoring and software for industrial pollution check, and mounting government initiatives in developing environment-friendly infrastructure is also expected to propel the environmental monitoring market growth in the coming years.
On the other hand, more factors such as export barriers on environmental technologies, and the high cost of including environmental monitoring systems and slow implementation of pollution control policies and regulations, are also highly anticipated to ignite the growth of environmental monitoring market during the assessment period.
On the flip side, the factor of lack of technical expertise, struggle in monitoring certain aspects owing to a severe low of a country’s government are accounted to be some of the challenges affecting the market growth during the assessment period.
The regional-wise segmentation of the global environmental monitoring system has been done among the key regions of North America, Europe, Asia, and the Rest of the World (ROW).
Among these regions, North America can lead the environmental monitoring market during the assessment period. The factors such as intensifying funding by the government for the implementing environmental monitoring stations and rigorous rules & regulations of U.S. environmental protection agency is anticipated to drive the environmental monitoring market in the North America region.
Europe region is also considered to support the market in generating the maximum revenue for environmental monitoring market by the end of the estimated period 2022. It is due to industrial growth to fulfill the mounting consumer demand which is creating the need to monitor the quality of the environment. Therefore, to protect the climate healthiness, European environment agency (EEN) has already established & mandate economic policies for industries thus, rising the market of environmental monitor devices in the region.
In the last, the Asia-Pacific region is also anticipated to be the firmest growing region in environmental monitoring market during the forecast period as the rising initiatives by government for the development of environment-friendly industries in the region are high on action in the recent time.
The crucial players in global environmental monitoring market are listed as Danaher Corporation (U.S.), Environmental Sensors Inc. (Canada), Agilent Technologies, Inc. (U.S.), Siemens AG (Germany), Lockheed Martin Corporation (U.S.), Emerson Electric Co. (U.S.), General Electric Company (U.S.), Thales Group (France), Nidec Corporation (Japan), Honeywell International, Inc. (U.S.) and to name a few.Also See: Monitoring Market, Environmental Monitoring, North America, Assessment Period, Monitoring, Market, Environmental
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