NEW YORK, June 30, 2015 /PRNewswire/ -- The global environmental monitoring market is poised to grow at a CAGR of 7.5% during 2015-2020, and is expected to reach a value of ~$20.5 Billion in 2020. Although the mature markets (such as the U.S., Germany, France, and U.K.) hold larger shares in the environmental monitoring market, the Asia-Pacific region is expected to grow at the highest CAGR in the forecast period. The growth of the environmental monitoring market is driven by factors such as growing global population, development of policies and initiatives aimed to reduce air, soil, and water pollution, increasing government funding towards pollution prevention and control, growing construction of environmental monitoring stations, growing initiative towards the development of environment-friendly industries, and reduction in export tariff on environmental monitoring technologies in emerging and developed markets. However, factors such as high cost of environmental monitoring solutions, slow implementation of pollution control reforms, and high export barrier on environmental technologies in emerging markets are restraining the growth of this market. Uncertain and inconsistent regulations and standards in emerging market is posing a significant challenge for the growth of the environmental monitoring market.
In this report, the global environmental monitoring market has been segmented on the basis of type of products (environmental monitors, environmental sensors, and environmental software), type of sampling method (intermittent monitoring, continuous monitoring, passive monitoring, and active monitoring), type of sensors (analog, digital, temperature sensing, moisture detection, biological detection, chemical detection, and noise measurement), and type of application (air pollution, water pollution, soil pollution, and noise pollution monitoring). The environmental monitors segment is expected to account for the largest share of the global environmental monitoring products market, in 2015, followed by the environmental sensors market. Factors such as growing public pressure on respective regional governments for effective pollution control and development of environment-friendly industries, rising government funding to develop large-scale environmental monitoring systems, continuous public and private initiatives to reduce the threat of climate change and depletion of natural resources, and development and commercialization of innovative technologies for pollution monitoring and control are driving the growth of environmental monitors market.
Geographically, North America (comprising the U.S. and Canada) is expected to command the largest share of the global environmental monitoring market in 2015, followed by Europe. The environmental monitoring market in the North America is primarily driven by factors such as increasing government funding on the maintenance and operation of environmental monitoring technology networking, stringent regulations of the United States Environmental Protection Agency (U.S. EPA) on air quality standards, technological advancements in design and technology of environmental sensors, and growing government initiatives towards pollution prevention and control. However, inconsistent government policies with regard to approval and use of environmental monitoring technology are limiting the growth of the digital environmental monitoring market in this region. The Asia-Pacific region is poised to grow at the highest CAGR during next five years, owing to factors such as large-scale industrialization, changing international environmental policies, and growing need to comply with various environmental safety regulations across the region.
The global environmental monitoring market is a highly competitive with a various global as well as local market players. As of 2014, the global environmental monitoring market was dominated by Agilent Technologies, Inc. (U.S.), TE Connectivity Ltd. (Switzerland), Danaher Corporation (U.S.), Honeywell International, Inc. (U.S.), and Siemens AG (Germany). New product launches, partnerships, agreements, and collaborations, and strategic acquisitions are the major strategies adopted by most of the market players to achieve growth in the global environmental monitoring market.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis — industry analysis (industry trends and Porter's five force model), market share analysis of top ten players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high growth segments of the environmental monitoring market, high-growth regions and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater market, share. Firms purchasing the report could use any one or combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on environmental monitoring products offered by the top 10 players in the global environmental monitoring market. The report analyzes the environmental monitoring market by type of product, sensors, sampling method, and application across key geographic region
- Product Development/Innovation: Detailed insights on upcoming environmental monitoring technologies, research and development activities, and new product launches in the global environmental monitoring market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various environmental monitoring products across key geographic region
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global environmental monitoring market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of leading players in the global environmental monitoring market
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