Predictive Emission Monitoring System Market Size

Predictive Emission Monitoring System Market Growth Projections and Opportunities

The increase in air pollution worldwide has made people worried about the harmful stuff released by industries. The authorities in charge are under more pressure to make the air cleaner and reduce the amount of harmful particles. This is making the demand for emission monitoring systems, including predictive emission monitoring software systems, go up. Developed regions like North America (especially the US) and the European Union (EU) are creating and updating rules to make sure these systems are accurate. Predictive emission monitoring systems (PEMS) are tools that use data to figure out how much harmful stuff is being released into the air and predict what might happen in the future. This information is then used to make decisions and reports.

According to MRFR, a group that studies markets, the global market for predictive emission monitoring systems (PEMS) has been growing a lot and is expected to reach $2,049.0 million by 2027. This growth is happening at a rate of 8.4% every year.

The global market for predictive emission monitoring systems (PEMS) is split into different parts: component, deployment, industry, and region. In terms of component, it is divided into software and service. The software part includes real-time emission monitoring, periodic analyzers, recalibration software, and sensor validation software/system. The service part includes installation, training, and maintenance. Based on deployment, it is split into on-premise and online. In terms of industry, it includes power plants & combustion, oil & gas, chemicals, petrochemicals, refineries, and fertilizers, building materials, pharmaceuticals, metal & mining, and others. In terms of region, it is split into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

In 2020, North America had the biggest share of the market, making up nearly 56.9%. This was because industries in this region, like power plants, oil & gas, chemicals, and more, adopted predictive emission monitoring systems quickly. The US contributed the most, making up 90.9% of North America's share in 2020. Europe had the second-biggest share at 22.3% in 2020. The UK, Germany, and France were the main countries driving the growth in Europe. The market in Europe is expected to grow the fastest at a rate of 8.9% every year.

During their study, MRFR looked at major players that played a big role in the growth of the global predictive emission monitoring system (PEMS) market. These players include ABB, General Electric, Rockwell Automation, Inc., CMC Solutions, Fuji Electric France S.A.S., Teledyne Monitor Labs, and AMETEK Land. These players are working on new ideas for PEMS and investing in research and development to create products that are not too expensive, follow the rules, and are easy to use. They're also using strategies like partnerships, mergers & acquisitions, developing new products, expanding to new places, and building a strong base of clients to increase their market share.