The global environmental monitoring market size is expected to reach USD 22.02 billion by 2030, according to a new study by Polaris Market Research. The report “Environmental Monitoring Market Share, Size, Trends, Industry Analysis Report, By Application; By Component; By Product Type (Environmental Monitors, Environmental Monitoring Sensors, Wearable Environmental Monitors); By End-User; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The key factors that boost growth include the increasing urbanization in emerging countries. For instance, as per the World Economic Reform, India is currently the most dynamic market for urban consumers as it is still relatively rural, despite rapid urbanization. Today, India is estimated to have 208 million urban consumers.
With urbanization, the global consumer class will number around 5.2 billion people by the end of 2030. People migrate from villages to cities for better education, health care, and employment opportunities. Furthermore, in emerging markets, former towns contribute to urbanization by rapidly expanding to the point where they represent a peri-urban segment.
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Further, the increase in demand for better natural resource management boosts industry growth during the forecast period. As per the United Nations, today, urban areas house 55% of the world's population, an estimate expected to rise to 68% by 2050, which is expected to be a significant factor contributing to resource scarcity in the coming years. To deal with urbanization and climate change, innovation and digital technology must reduce energy consumption and improve quality of life.
Particulate segment garnered the leading share in the market. The detection of particulates is further subdivided into PM2.5 detection, Particulate matter ( pm detection, and other detection. This can be driven by the rising levels of PM 2.5 and PM 10 in the environment. Outdoor and indoor air quality monitoring devices or PM monitors and a sudden increase in air pollution levels in emerging countries due to industrialization and urbanization.
Market players such as AMS AG, 3M Company, Danaher Corporation, Emerson Electric Co., General Electric Company, E.S.I. Environmental Sensors Inc., HORIBA, Ltd., Honeywell International Inc., Raritan Inc., Raytheon Technologies Corporation, Siemens AG, Powelectrics Limited, Spectris plc, Teledyne Technologies Incorporated, T.E. Connectivity Ltd., Texas Instruments Inc., and Thermo Fisher Scientific Inc. are key players operating in the global market.
In March 2021, Aquatic Informatics acquired Sedaru Inc., a leading water utility management software provider, in Danaher's Water Quality Platform. Sedaru provides a fully managed software-as-a-service (SaaS) application to manage critical water infrastructure assets and track water system activities and operations.
Polaris market research has segmented the environmental monitoring market report based on application, component, product type, end-user, and region:
Environmental Monitoring, Application Outlook (Revenue - USD Billion, 2018 – 2030)
Environmental Monitoring, Component Outlook (Revenue - USD Billion, 2018 – 2030)
Environmental Monitoring, Product Type Outlook (Revenue - USD Billion, 2018 – 2030)
Environmental Monitoring, End-User Outlook (Revenue - USD Billion, 2018 – 2030)
Environmental Monitoring, Regional Outlook (Revenue - USD Billion, 2018 – 2030)