PUBLISHER: The Business Research Company | PRODUCT CODE: 1390958
PUBLISHER: The Business Research Company | PRODUCT CODE: 1390958
“Air Quality Monitoring System 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 air quality monitoring system 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 air quality monitoring system? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The air quality monitoring system 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.
Air quality monitoring systems are essential tools that evaluate pollution levels in a specific area in alignment with ambient air quality standards. These systems, designed for outdoor ambient applications, play a crucial role in measuring the concentration of air pollutants.
In the realm of air quality monitoring systems, two main product categories exist such as indoor and outdoor. Indoor systems focus on analyzing the correlation between risks and indoor air quality (IAQ) exposure. They are instrumental in the development of real-time monitoring systems, addressing system design challenges. These systems comprise both hardware and software components. The market offers various types of pollutants categorized as chemical and physical, catering to diverse verticals such as industrial, commercial, and residential sectors.
The air quality monitoring system market research report is one of a series of new reports from The Business Research Company that provides air quality monitoring system market statistics, including air quality monitoring system industry global market size, regional shares, competitors with a air quality monitoring system market share, detailed air quality monitoring system market segments, market trends and opportunities, and any further data you may need to thrive in the air quality monitoring system industry. This air quality monitoring system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The air quality monitoring system market size has grown strongly in recent years. It will grow from $6.06 in 2023 to $6.59 in 2024 at a compound annual growth rate (CAGR) of 8.7%. During the historical period, the notable growth in this sector can be attributed to a heightened awareness of environmental health and air pollution concerns. Stringent government regulations and adherence to environmental standards played a pivotal role. The increased understanding of indoor air quality (IAQ) issues, coupled with a rising incidence of respiratory disorders and allergies, further fueled this growth. Additionally, the expansion of industrial activities and urbanization contributed to the overall development in this domain.
The air quality monitoring system market size is expected to see strong growth in the next few years. It will grow to $9.52 in 2028 at a compound annual growth rate (CAGR) of 9.6%. The projected growth in the upcoming period is attributable to heightened public awareness and a rising demand for real-time air quality data. This is further fueled by the integration of air quality monitoring systems with IoT and smart building technologies. The increasing focus on health and well-being in commercial spaces, coupled with governmental initiatives to enhance air quality monitoring, also contributes to this growth. Market expansion in developing economies is another driving factor. Key trends anticipated in this forecast period encompass advancements in sensor and monitoring technology, seamless integration with smartphones and mobile apps, monitoring of volatile organic compounds (VOC), real-time data reporting and alerts, as well as integration with HVAC and building automation systems.
The escalating levels of air pollution are expected to be a driving force behind the growth of the air quality monitoring system market in the years to come. Defined as the introduction of various pollutants into the atmosphere, air pollution encompasses substances like carbon dioxide, methane gases, and other chemical-laden gases. The surge in air pollution significantly fuels the demand for air quality monitoring systems, which serve the purpose of measuring pollutant levels. Evidently, reports from the World Health Organization reveal that approximately 7 million individuals die annually worldwide due to the consequences of air pollution. Additionally, data from the American Lung Association's 2021 State of the Air report indicates that 135 million Americans, constituting four out of ten, inhabit areas with detrimental levels of air pollution. These alarming figures underscore the critical need for air quality monitoring systems, thus propelling market growth.
The burgeoning prevalence of smart homes is poised to drive the expansion of the air quality monitoring system market. Smart homes, characterized by the remote and automatic control of appliances and devices through internet-connected mobile or networked devices, are increasingly equipped with various sensors and devices. Integrating air quality monitoring systems into these setups provides real-time information about indoor air quality. Notably, an article published in Oberlo in 2023 estimates that over 60.4 million households in the US are actively utilizing smart home devices, marking a 3% increase from the previous year. This accounts for 46.5% of the total number of households and underlines the escalating adoption of smart home devices, thereby driving the market for air quality monitoring systems.
Technological advancements are a pivotal trend shaping the air quality monitoring system market. Leading companies within this sector are committed to developing cutting-edge technological solutions to meet consumer demands. For instance, in March 2021, Thermo Fisher Scientific Inc., a US-based company specializing in scientific instrumentation and services, introduced the AerosolSense Sampler. This innovative device, based on polymerase chain reaction (PCR) technology, serves as a surveillance tool to swiftly and accurately detect in-air viruses like SARS-CoV-2. The AerosolSense Sampler represents a significant advancement, offering institutions highly precise data to ensure the safety of their personnel and the general public. This emphasis on technology presents a substantial driver in the expansion of the air quality monitoring system market.
Prominent companies within the air quality monitoring system market are actively pursuing strategic collaborations to expedite the development and implementation of new pollutant models. These strategic partnerships involve collaborative relationships established between multiple organizations to attain specific business objectives or goals. Notably, in March 2023, Piera Systems, a Canada-based digital health-focused company, and MACSO Technologies, a New Zealand-based firm, announced a strategic partnership aimed at transforming air quality monitoring. By leveraging MACSO's established AI/ML software platform and integrating it with the highly precise air quality data generated by Piera's Intelligent Particle Sensors and Canree Air Quality Monitors, customers gain the ability to rapidly produce pollutant models and continually enhance accuracy at an accelerated pace.
In a significant move in September 2022, Google, a leading US-based technology company, acquired BreezoMeter, a prominent Israeli air quality monitoring and forecasting company, for an undisclosed amount. This strategic acquisition is anticipated to integrate BreezoMeter's data into Google applications. BreezoMeter has developed a system that aggregates environmental data from approximately 11 million sources worldwide, employing algorithms to forecast air quality-related hazards, including pollution and wildfires. Google's acquisition of BreezoMeter reflects a strategic move to leverage BreezoMeter's expertise and innovative solutions, integrating them into its own applications to enhance and expand its capabilities in the realm of air quality monitoring and forecasting.
Major companies operating in the air quality monitoring system market include Thermo Fisher Scientific Inc., Emerson Electric Co., General Electric Company, Siemens Aktiengesellschaft, Teledyne Technologies Incorporated, PerkinElmer Inc., Agilent Technologies Inc., TE Connectivity Ltd., 3M Company, Honeywell International Inc., Horiba Ltd., Merck KGaA, TSI Incorporated, Tisch Environmental Inc., Testo SE & Co. KGaA, Plume Labs SAS, Aeroqual Limited, Forbes Marshall Private Limited, Hawa Dawa GmbH, Kaiterra Inc., AirVisual Limited, IQAir North America Inc., BreezoMeter Ltd., AirNow Technologies Inc., PurpleAir LLC., Sensirion AG, Alphasense Limited, GDS Technologies Ltd., Ecotech Pty Ltd.
North America was the largest region in the air quality monitoring system market in 2023. The regions covered in the air quality monitoring system market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the air quality monitoring system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA.
The air quality monitoring system market consists of sales of air quality monitoring system, emissions and ambient monitoring. 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.