In a recently published report, Environmental Sensing and Monitoring Technologies Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Environmental Sensing and Monitoring Technologies Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Environmental Sensing and Monitoring Technologies Market is valued at approximately USD 18 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.3% over the forecast period 2020-2027. Environmental sensing and monitoring technologies are defined as a technology that is extensively involved in the organized process of illuminating and monitoring the quality of the environment. A wide spectrum of techniques associated with environmental sensors and monitoring is frequently used in the formulation of environmental impact assessments (EIA). Also, human perform several activities which usually have distinctive impacts on the quality of the environment. This has led to the expansion of environmental monitoring and lowering the impact of various kinds of pollution thereby, creating a huge demand for environmental sensing and monitoring technologies all over the world. Furthermore, the rising government initiatives for environmental management around the world, along with the technical advancement in sensing technologies and the development of new monitoring technologies for preserving the environment are the few factors responsible for the CAGR of the market during the forecast period.
For instance, in December 2018, the United States Environmental Protection Agency has awarded funds of about USD $187 million to the State of California for drinking water and wastewater infrastructure and drinking water improvements. Therefore, such initiative is likely to strengthen the demand for environmental sensing and monitoring technologies, globally. Moreover, the recent outbreak of COVID-19 around the world has adversely affected the sensor and monitoring technologies industry as the manufacturing operations are temporarily suspended due to the lockdown imposed by the government to prevent the spread of novel coronavirus. This has led to a shortage in demand for environmental sensing and monitoring technologies, thereby, inhibiting the market growth at least in the recent year. However, the high cost and lack of awareness about the technologies are the few factors impeding the market growth over the forecast period of 2020-2027.
The regional analysis of the global Environmental Sensing and Monitoring Technologies market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of a large number of government acts for protecting the environment, along with the presence of a significant number of new technology-based manufacturers in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in problems of water scarcity and growing health problems due to air pollution would create lucrative growth opportunities for market growth in the Asia-Pacific region.
Major market player included in this report are:
Lockheed Martin Corporation
AirTest Technologies Inc.
City Technology Ltd.
Coastal Environmental Systems Inc.
TE Connectivity Ltd.
E.S.I. Environmental Sensors Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product Type:
By Sensor Type:
Pressure & Vibration Sensor
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By Sampling Method:
Air Pollution Monitoring
Water Pollution Monitoring
Noise Pollution Monitoring
Soil Pollution Monitoring
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Environmental Sensing and Monitoring Technologies Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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