PUBLISHER: The Business Research Company | PRODUCT CODE: 1465771
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465771
Environmental sensing and monitoring technology involve the utilization of diverse sensors and devices to gather real-time data on environmental conditions, including factors such as air quality, temperature, and pollution levels. The primary objective is to monitor and assess the state of ecosystems and the impact of human activities on the environment. This technology plays a vital role in comprehending environmental changes and implementing measures for sustainability and conservation, contributing to informed decision-making for environmental management.
Environmental sensing and monitoring technology are primarily categorized into portable and stationary types. Portable environmental sensors with navigation technology are compact devices designed for on-the-go monitoring, measuring various environmental parameters such as air quality, temperature, humidity, and pollutants. The components of these devices include sensors, monitors, software, and services. The monitoring methods employed include active monitoring, intermediate monitoring, and passive monitoring, with applications spanning water pollution monitoring, air pollution monitoring, sound pollution monitoring, soil pollution monitoring, and more. End-users of this technology include meteorological organizations, government agencies, defense, ocean exploration organizations, research institutions, the industrial sector, and others.
The environmental sensing and monitoring technology research report is one of a series of new reports from The Business Research Company that provides environmental sensing and monitoring technology market statistics, including the environmental sensing and monitoring technology industry's global market size, regional shares, competitors with an environmental sensing and monitoring technology market share, detailed environmental sensing and monitoring technology market segments, market trends and opportunities, and any further data you may need to thrive in the environmental sensing and monitoring technology industry. This environmental sensing and monitoring technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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 observed in the historical period can be attributed to various factors, including a focus on regulatory compliance, heightened public awareness and concerns regarding the environment, the effects of industrialization and urbanization, occurrences of natural disasters and climate change, and the influences of globalization and trade. These factors have played significant roles in shaping the trajectory of environmental sensing and monitoring technology during that period.
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 anticipated growth in the forecast period can be attributed to factors such as the implementation of precision agriculture practices, the advancement of smart cities initiatives, the expansion of renewable energy, and a heightened focus on epidemic and pandemic preparedness. Major trends expected in the forecast period encompass the integration of the Internet of Things (IoT), the application of artificial intelligence (AI) and machine learning (ML) algorithms, and ongoing technological advancements in environmental sensing and monitoring technology.
The anticipated rise in air pollution, water contamination, and soil erosion is expected to drive the growth of the environmental sensing and monitoring technology market. These environmental challenges, stemming from harmful substances and disruptions to natural ecosystems, are exacerbated by factors such as burning fossil fuels, industrial waste, and other anthropogenic activities. Environmental sensing and monitoring technologies play a vital role in tracking and analyzing air pollution, water contamination, and soil erosion by collecting real-time data on pollutant levels, water quality, and soil conditions. This information aids in assessing and mitigating environmental issues. The World Health Organization reports that 1.8 billion people worldwide consume contaminated water. Additionally, the International Energy Agency notes that global energy-related carbon dioxide (CO2) emissions reached a record high of over 36.8 billion metric tons in 2022, with a 0.9% increase equivalent to 321 million metric tons. The increasing challenges of air pollution, water contamination, and soil erosion underscore the importance of the environmental sensing and monitoring technology market.
Key players in the environmental sensing and monitoring technology market are actively developing next-generation solutions, including environmental sensors, to enhance real-time data collection and analysis. These solutions leverage the Internet of Things (IoT) for real-time monitoring and management of critical infrastructure conditions. In August 2023, Vertiv, a US-based provider of critical digital infrastructure and continuity solutions, introduced the geist watchdog 15 environmental sensor solution. This solution optimizes data center monitoring in India, offering a self-contained monitor that remotely tracks real-time environmental conditions in critical IT infrastructure such as data centers and server rooms. The cost-effective solution facilitates monitoring of temperature, humidity, and dewpoint, with the capability to add up to four external plug-and-play sensors. It provides real-time sensor data, logging, and graphing, enabling data center managers to receive alerts via email and email-to-SMS for predefined threshold breaches.
In May 2023, Previan, a Canada-based technology solutions provider, acquired Sensor Networks Inc. for an undisclosed amount. Through this acquisition, Previan aims to enhance its capabilities by integrating top-notch ultrasonic testing (UT) and phased array ultrasonic testing (PAUT) probes, along with sophisticated instruments and software. Sensor Networks Inc., a US-based provider of sensing tools and technologies, specializes in enabling the inspection and remote monitoring of safety-critical components, contributing to the advancement of environmental sensing and monitoring technologies.
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
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.
The countries covered in the environmental sensing and monitoring technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The environmental sensing and monitoring technology market consists of revenues earned by entities providing services such as collection and analysis, remote sensing, pollution monitoring, climate tracking, biodiversity assessment, and customized solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. The environmental sensing and monitoring technology market also includes sales of temperature sensors, motion sensors, force sensors, and light sensors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Environmental Sensing And Monitoring Technology Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on environmental sensing and monitoring technology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for environmental sensing and monitoring technology ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The environmental sensing and monitoring technology market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.