NEW YORK, Nov. 24, 2016 /PRNewswire/ -- "Growing demand for smart homes and presence of supportive government regulations for effective air pollution monitoring are fueling the growth of the indoor air quality monitor market."
The global indoor air quality monitor market (IAQM) is expected to be valued at USD 4.63 billion by 2022, growing at a CAGR of 9.22% during the forecast period.
Supportive government regulations for effective indoor air pollution monitoring and control, growing popularity of smart homes/green buildings, ongoing government initiatives toward the development of environment-friendly industries, increasing public-private funding for effective air pollution monitoring, rising level of air pollution worldwide, and increasing public awareness related to healthcare and the environmental implications of air pollution are some of the key factors fueling the growth of the market. However, factors such as high product costs and technical limitations associated with indoor air quality monitoring products are restraining the growth of the market.
"Fixed indoor monitors dominated the market for indoor air quality monitor in 2015"
Fixed indoor monitors accounted for the largest share of the IAQM market in 2015. The growth in the market for fixed indoor monitors can be attributed to the growing installation of AQM stations; their technological benefits such as real-time monitoring capability, options for analog or digital output, and limited sample volume required for air quality analysis; and the continuous initiatives to raise awareness regarding the rising indoor air pollution levels and their health implications.
"IAQM market for physical pollutant to grow at the highest rate during the forecast period"
The IAQM market for physical pollutants is expected to grow at the highest rate during the forecast period. The market growth is mainly driven by factors such as the increasing number of stringent regulatory guidelines that mandate the regular monitoring of physical pollutants in key industries such as power plants and petrochemical industries as well as the growing availability of particulate matter sensors in the major markets.
"Growing popularity of smart homes is expected to drive the IAQM market for residential applications during the forecast period"
The significant increase in the demand for indoor air quality monitoring products among residential users is mainly because of the growing public awareness about the health implications of indoor air pollution (coupled with the increased level of indoor or house-hold air pollution), rising adoption of green building & smart home technologies across developed countries worldwide, and recent technological advancements in the field of indoor air monitoring (such as wearable devices and mobile-based software).
"IAQM market in APAC is likely to grow at the highest rate during the forecast period"
The IAQM market in APAC is expected to grow at the highest rate between 2016 and 2022. This market growth can be attributed to the large-scale industrialization in the region, implementation of stringent air pollution regulations across major Asian countries, growing emphasis of the governments on industry compliance with safety environment regulations, and continuous government support for the development and commercialization of advanced IAQM products.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people in the indoor air quality monitor industry. The break-up of primary participants for the report has been given below.
- By Company Type: Tier 1 – 45 %, Tier 2 – 35%, and Tier 3 – 20%
- By Designation: C-Level Executives – 50%, Managers – 30%, and Others – 20%
- By Region: North America – 50%, Europe – 25%, APAC – 20%, and RoW – 5%
The report also profiles the key players in the indoor air quality monitor market and analyzes their market ranking. The prominent players profiled in this report are Thermo Fisher Scientific, Inc. (U.S.), Siemens AG (Germany), Emerson Electric Co. (U.S.), 3M Company (U.S.), TSI, Inc. (U.S.), Ingersoll Rand Plc. (Ireland), HORIBA, Ltd. (Japan), Testo AG (Germany), Aeroqual (U.S.), and Nest Labs Inc. (U.S.), among others.
This research report categorizes the global indoor air quality monitor market on the basis of product, pollutant type, end-use application, and geography. The report also provides the Porter's five forces analysis, along with a description of each of its forces and their respective impact on the indoor air quality monitor market. It also includes major drivers, restraints, challenges, and opportunities pertaining to the market; value chain analysis; and market ranking analysis.
Reasons to buy the Report
The report would help leaders/new entrants in this market in the following ways.
1. This report segments the indoor air quality monitor market comprehensively and provides the closest market size estimation for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with the information on the key drivers, restraints, challenges, and opportunities for the market.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions of the companies.
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