New York, US, March 14, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), Environmental Monitoring Market By Product, by End-User, by Technology Forecast Till 2030“, The environmental monitoring market is likely to witness a notable rise during the current decade. Increasing investments by public and private sectors worldwide for efficient environment monitoring & surveillance systems will drive market growth. Market Research Future (MRFR), the global environmental monitoring market is poised to reach USD 18.5 billion by 2030, growing at a 5.4% CAGR during the assessment period (2021-2030).
Environmental monitoring systems help obtain real-time environmental data for weather service and emergency managers to evaluate current weather and water conditions. They provide real-time data that help make agricultural producers more efficient, improve water quality, enhance public safety measures, and enhance education & research related to the environment across the commonwealth.
Environmental Monitoring Market Key Players:
Players leading the global environmental monitoring market are:
- Agilent Technologies, Inc. (US)
- Siemens AG (Germany)
- Thales Group (France)
- Danaher Corporation (US)
- Environmental Sensors Inc. (Canada)
- General Electric Company (US)
- Emerson Electric Co. (US)
- Honeywell International, Inc. (US)
- Lockheed Martin Corporation (US)
- Nidec Corporation (Japan)
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Environmental monitoring provides governments with data to monitor and mitigate potential environmental impacts, accurately track the effectiveness of actions taken, and respond appropriately when required. It provides valuable information in three key areas: water, air, and noise. The data can also be utilized to develop the assessment and analysis report on the environmental impact of the exploration of oil & gas resources and drilling & mining activities.
The data provided by environmental monitoring is highly valued by the departments of meteorology & atmospheric science, earth & mineral sciences, agricultural & biological engineering, agricultural sciences, emergency management & federal emergency management agencies worldwide.
Environmental Monitoring Market Report Scope:
|Environmental Monitoring Market Size by 2030||USD 18.5 Billion|
|Environmental Monitoring Market CAGR during 2021-2030||5.4%|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Key Market Drivers||The North American region has control over the global environmental monitoring market share and will continue to dominate the market during the period of 2016 to 2022.|
The immense investments of funds in the implementation of the environmental monitoring market and imposing strict rules and regulations will drive the market of the North American region.
Governments focus on environmental surveys, detailed geological mapping, surface geochemistry, and ground geophysical surveys that require environment monitoring solutions to model geophysical responses. The collected information helps evaluate measures to avoid/reduce any potential negative impacts on the environment and local communities.
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The global environmental monitoring market has grown significantly due to the influx of capital from newly discovered offshore oil and gas resources worldwide. Governments are committed to sustainable oil & gas extraction activities, mine development, and minimizing the environmental footprint of these activities. They also use these data to track illegal deforestation, protect mangroves, and safeguard their country's biodiversity.
Environmental Protection Agencies (EPAs) of various countries leverage high-resolution optical satellites and maritime tipping & cueing service for the environmentally critical use case of monitoring offshore petroleum activity and drilling vessels for regulatory compliance & safety. EPAs ensure the resource is sustainably managed, environmentally safe, and able to be extracted for years to come.
The environmental monitoring market report is segmented into types, applications, products, end-users, and regions. By type, the market is segmented into passive monitoring, active monitoring, continuous monitoring, intermittent monitoring, and others. The product segment is sub-segmented into sensors, monitors, and software.
The application segment is sub-segmented into air pollution, water pollution, noise pollution, soil pollution, and other environmental factors monitoring. The end-user segment is sub-segmented into medical, government, food & beverages, retail, data centers, constructions, and others. Further, the region segment is sub-segmented into Europe, the Americas, Asia-Pacific, and rest-of-the-world.
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North America dominates the global environmental monitoring market. The largest market share is mainly attributed to high funding and increasing demand for environmental monitoring systems. Especially countries like the US and Canada hugely invest in implementing environmental monitoring systems due to strict rules and regulations imposed against environmental pollution.
Besides, the presence of many major technology providers, data centers, and technology development centers in this region foster market growth. Also, increasing upgrades in technologies and improvements in environmental monitoring and surveillance technologies propel the region's market shares. The US, Canada, and Mexico contribute excellently to escalating North America's environmental monitoring market demand.
Europe stands second in the global environmental monitoring market. The rising demand for environment surveying instruments by various state governments drives the market growth. Moreover, certain economic guidelines established by the European environment agency (EEN) for industries to help improve the atmosphere, elevate the environmental monitoring market value.
Emerging start-ups and already-established vendors in this region, catering to the need for effective measures against ecological pollution and infrastructure budgets, drive the regional market's growth. Additionally, the region's rapidly growing sectors, such as medical, government, food & beverages, boost the environmental monitoring market revenues.
The Asia Pacific environmental monitoring market is growing rapidly. Factors such as government initiatives and substantial R&D investments by public & private sectors in this region influence the market value. Furthermore, the dramatically rising spending in the agriculture, healthcare, and construction sectors substantiates the region's environmental monitoring market shares.
Simultaneously, the increasing deployments of advanced environmental monitoring systems in the region positively impact regional market development. Also, environmental monitoring manufacturers in India, China, and Japan, with their massive investments in developing advanced technologies, substantiate the regional market growth.
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The highly competitive global environmental monitoring market appears fragmented with the presence of many well-established industry players. Players in the environmental monitoring and surveillance industry strive to develop a host of intelligence, surveillance, and reconnaissance solutions that enable real-time remote monitoring and control over critical locations.
To enable this, they implement high-quality telecommunication equipment like a wireless intrusion detection system to help gain real-time remote environmental monitoring. Technology providers strive to provide industry-leading solutions for surveillance and communication. Players incorporate strategic approaches such as mergers & acquisitions, collaboration, expansion, and technology/product launch to gain a significantly larger competitive share.
For instance, on Feb.22, 2023, Maxar Technologies, a leading provider of comprehensive geospatial intelligence and space solutions, announced that it has entered into a three-year contractual agreement with the Guyana Ministry of Natural Resources (MNR) to provide nationwide environmental monitoring services for offshore and terrestrial applications.
Guyana's Environmental Protection Agency (EPA) will utilize Crow's Nest Maritime Monitoring and Security products developed by Maxar to support offshore petroleum monitoring. It will also use the Crow's Nest Multi-Sensor Oil Detection Service to identify potential spills.
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