Research and Markets has expanded its product offering with a new report titled "Global Environmental Sensing and Monitoring Technologies Market 2011-2014."
The report, compiled by TechNavio, indicates that from 2010 to 2014, the environmental sensing and monitoring technologies market worldwide will witness a CAGR of 4.9%. The growth has been attributed to the numerous applications of the technologies. The report also indicates that the market will witness a growth with advanced sensor technologies. Unreliable and inconsistent government policies have been indicated as a challenge affecting the growth. A major trend in the global market scenario is escalation in government expenditure in the market. In 2010, $500 million was the cost incurred by the US Government to maintain and ensure smooth operation of environmental monitoring technology network.
The report offers an in-depth analysis of the environmental sensing and monitoring technologies markets in Asia Pacific, United States and EMEA regions. The key vendors with a majority of the market share include General Dynamics, Raytheon, Lockheed Martin, Northrop Grumman and the Thales Group.
An official statement from TechNavio suggests that the versatility offered by the applications is a driving factor for the environmental sensing and monitoring technologies market.
The applications of environmental sensing and monitoring technologies include emission detection in automobiles, detection of fossil fuel burning, detection of marine leaks such as oil spills, industrial and mine waste dumping, waste dumping in oceans, climate change tracking, weather monitoring and agricultural usage. The applications of environmental sensors include detection of temperature fluctuations, sensing moisture and to detect the changes in biological and chemical and conditions in the environment.