Indoor Air Quality (IAQ) Solution Market size is set to grow by USD 12.4 billion from 2024-2028, New air quality product launches to boost the market growth, Technavio

NEW YORK, June 3, 2024 /PRNewswire/ -- The global indoor air quality (IAQ) solution market size is estimated to grow by USD 12.4 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.61%  during the forecast period. 

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Key Market Trends Fueling Growth

Indoor air pollution levels have surpassed outdoor air in various sectors including homes, schools, offices, and factories. With approximately 90% of the global population spending time indoors, there is a significant demand for indoor air quality (IAQ) solutions. Technological advancements, such as IoT-based monitoring systems and cyber-physical systems, have facilitated the installation of IAQ systems.

Additionally, the manufacturing industry and power plants are adopting Industry 4.0-related IAQ solutions due to employee health concerns. Portable IAQ monitors and wearable devices are gaining popularity for real-time pollutant detection and measurement. The EU is funding R&D projects for advanced wearable devices, including a 3D-integrated multi-sensor device that detects harmful gases, particulate matter, and temperature/humidity levels. These technological advancements are expected to drive the growth of the global IAQ solutions market. 

Indoor Air Quality (IAQ) solutions have gained significant attention in the business world due to the increasing awareness of the importance of maintaining healthy work environments. The use of technologies like HEPA filters, air purifiers, and ventilation systems are on the rise to combat issues such as poor air quality, allergens, and pollutants. The market for IAQ solutions is trending with companies implementing IoT sensors to monitor air quality in real-time.

Additionally, the integration of artificial intelligence and machine learning algorithms is enabling predictive maintenance and automation of IAQ systems. Bulk materials like activated carbon and zeolite are in high demand for air filtration applications. Overall, the market for IAQ solutions is growing as businesses prioritize the health and well-being of their employees. 

Market Challenges

• The global Indoor Air Quality (IAQ) solutions market faces intense competition, with a fragmented vendor landscape. Local vendors offer affordable alternatives, forcing international players to match prices. This trend, prevalent in the Americas, Europe, and certain APAC countries, can negatively impact market growth. Local APAC vendors provide subsidized components, reducing sales of high-end products and potentially decreasing investments in R&D for global players. These factors may hinder the market's expansion during the forecast period.
• Indoor Air Quality (IAQ) solutions face several challenges in the market. Comfort and energy efficiency are key considerations for businesses looking to improve IAQ. Carbon monoxide and other harmful gases pose risks that need addressing. Air filtration systems are crucial, but maintaining them can be costly. Humidity levels also impact IAQ, requiring regular monitoring and adjustment. Residual odors from various sources can be difficult to eliminate.
• Prioritizing these challenges and implementing effective solutions can lead to healthier, more productive work environments. Privatize your indoor spaces with powerful air purification systems, ensuring optimal air quality for your business.

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Segment Overview 

1. Product 
• 1.1 Equipment
• 1.2 Services
2. Type 
• 2.1 Fixed
• 2.2 Portable
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Equipment-  Indoor Air Quality (IAQ) solutions market refers to businesses providing products and services that improve the air quality within buildings. These solutions mitigate pollutants, allergens, and contaminants, ensuring a healthy and comfortable environment for occupants. Companies offer various technologies such as air filtration systems, humidification and dehumidification units, and ventilation systems to enhance IAQ. The market continues to grow due to increasing awareness of indoor air health concerns and the implementation of stringent building codes.

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Research Analysis

The Indoor Air Quality (IAQ) Solution Market encompasses a range of technologies designed to mitigate various pollutants and ensure optimal air quality within buildings. Key solutions include Ventilation Systems for adequate air exchange, Air Filters and HEPA Filters for capturing Particulate Matter (PM) and other pollutants, Humidifiers and Dehumidifiers for maintaining ideal humidity levels, and Ultraviolet (UV) lamps for disinfection via UVGI technology. IAQ Management Systems integrate these components, often incorporating Building Automation for efficient operation.

HVAC Systems play a crucial role in IAQ, while Air Pollution Monitoring tools enable continuous monitoring of Chemical Pollutants, Physical Pollutants, and Biological Pollutants. Public-Private Funding and Air Quality Regulations drive market growth, with solutions such as Portable Indoor Monitors, Carbon Monoxide Alarms, and Ozone Generators also contributing to the market landscape. IAQ solutions are essential for adhering to LEED and WELL Building Standards, ensuring healthy indoor environments.

Market Research Overview

The Indoor Air Quality (IAQ) solution market encompasses technologies and services aimed at enhancing and maintaining healthy indoor environments. These solutions address various pollutants such as particulate matter, volatile organic compounds, and microorganisms. IAQ systems utilize advanced filtration techniques, sensors, and automation to monitor and control air quality in residential, commercial, and industrial settings.

Energy recovery ventilation systems and air purifiers are common solutions in this market. Smart technology integration enables remote monitoring and real-time adjustments for optimal indoor air quality. The market growth is driven by increasing awareness of health risks associated with poor indoor air quality and stringent regulations.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Equipment
• Services
• Type
• Fixed
• Portable
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio