Overview and Scope
Environmental sensing and monitoring technology refers to the use of various sensors and devices to collect real-time data on environmental conditions, such as air quality, temperature, and pollution levels, to monitor and assess the state of ecosystems and human impact on the environment. It plays a crucial role in understanding environmental changes and implementing effective measures for sustainability and conservation.
Sizing and Forecast
The environmental sensing and monitoring technology market size has grown strongly in recent years. It will grow from $16.53 billion in 2023 to $17.58 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to regulatory compliance, public awareness and concerns, industrialization and urbanization, natural disasters and climate change, globalization and trade.
The environmental sensing and monitoring technology market size is expected to see strong growth in the next few years. It will grow to $21.43 billion in 2028 at a compound annual growth rate (CAGR) of 5%. The growth in the forecast period can be attributed to precision agriculture, smart cities initiatives, renewable energy expansion, epidemic and pandemic preparedness. Major trends in the forecast period include internet of things (IoT) integration, artificial intelligence (AI) and machine learning (ML) algorithms, technological advancements.
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Segmentation & Regional Insights
The environmental sensing and monitoring technology market covered in this report is segmented –
1) By Type: Portable, Stationary
2 By Component: Sensors, Monitors, Software, Service
3) By Monitoring Method: Active Monitoring, Intermediate Monitoring, Passive Monitoring
4) By Applications: Water Pollution Monitoring, Air Pollution Monitoring, Sound Pollution Monitoring, Soil Pollution Monitoring, Other Applications
5) By End-User: Meteorology, Government, Defense, Ocean Exploration Organizations, Research Organizations, Industrial Sector, Other End-users
North America was the largest region in the environmental sensing and monitoring technology market in 2023. The regions covered in the environmental sensing and monitoring technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing air pollution, water contamination, and soil erosion are expected to propel the growth of the environmental sensing and monitoring technology market going forward. Air pollution, water contamination, and soil erosion refer to ecological degradation caused by introducing harmful substances and disruptions to natural ecosystems. Burning fossil fuels for energy in vehicles, industries, and power plants releases pollutants, and industrial waste from factories dampens the ecological condition. Environmental sensing and monitoring technologies are utilized to track and analyze air pollution, water contamination, and soil erosion by collecting real-time data on pollutant levels, water quality, and soil conditions, aiding in assessing and mitigating environmental issues. For instance, in September 2023, according to the World Health Organization, a Switzerland-based intergovernmental organization, 1.8 billion people worldwide consume water that is contaminated. Furthermore, in March 2023, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, in 2022, global energy-related carbon dioxide (CO2) emissions increased by 0.9%, equivalent to 321 million metric tons, reaching a record high of over 36.8 billion metric tons. Therefore, increasing air pollution, water contamination, and soil erosion are expected to propel the growth of the environmental sensing and monitoring technology market.
Key Industry Players
Major companies operating in the environmental sensing and monitoring technology market are Siemens AG, Thermo Fisher Scientific Inc., Honeywell International Inc., ABB Ltd., Merck KGaA, Danaher Corporation, Eaton Corporation, Thales Group, Nidec Corporation, TE Connectivity Ltd., Ball Corporation, Emerson Electric Co., Amphenol Corporation, Agilent Technologies Inc., OMRON Corporation, Xylem Inc., Teledyne Technologies Incorporated, Shimadzu Corporation, Endress+Hauser Group, Horiba Ltd., Hebei Sailhero Environmental Protection High-tech Co., Ltd., Focused Photonics Inc. (FPI), Sensirion AG, Beijing SDL Technology Co., Ltd., Bosch Sensortec GmbH, Acoem Group
The environmental sensing and monitoring technology market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
………….
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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