U.S., Germany, France, and U.K. to hold largest share of environmental monitoring market and Asia-Pacific region is expected to grow at the highest CAGR to 2020.
(PRWEB) June 12, 2015
The global environmental monitoring market is expected to grow at a CAGR of 7.5% during 2015-2020 to reach a value of $20.5 billion. Although mature markets (such as the U.S., Germany, France, and U.K.) hold larger shares in the environmental monitoring market, Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The complete report available at http://www.rnrmarketresearch.com/environmental-monitoring-market-by-product-monitors-sensors-and-software-application-air-gas-water-soil-and-noise-pollution-and-by-region-global-trends-and-forecasts-to-2020-market-report.html.
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 reductions in export tariffs on environmental monitoring technologies in emerging and developed markets. However, factors such as the high cost of environmental monitoring solutions, slow implementation of pollution control reforms, and high export barriers on environmental technologies in emerging markets are restraining the growth of this market. Uncertain and inconsistent regulations and standards in emerging markets are posing a significant challenge for the growth of the environmental monitoring market.
The companies profiled in environmental monitoring market research report are Agilent Technologies Inc, Danaher Corporation, Environmental Sensors Inc, Honeywell International Inc, TE Connectivity Ltd, Raytheon Company, Siemens AG, Lockheed Martin Corporation, Thales Group, and Ball Aerospace and Technologies. Order a copy of the ‘Environmental Monitoring Market’ report at http://www.rnrmarketresearch.com/contacts/purchase?rname=390604.
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 for 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 the 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.
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