Air Quality Monitoring System Market – Continuous R&D and Technological Advancements
Major Objectives of the Study:
# To define, describe, and forecast the global air quality monitoring system market by product, sampling method, pollutant, end user, and region.
# To provide detailed information about the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges).
# To analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall air quality monitoring systems market.
# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players operating in the market.
# To forecast the revenue of market segments with respect to five key regions, namely, North America (US and Canada), Europe (Germany, France, the UK, Italy, Spain, and the Rest of Europe), the Asia Pacific (China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America), and the Middle East and Africa.
# To profile the key market players and comprehensively analyze their market shares and core competencies.
# To track and analyze competitive developments such as new product launches; agreements, partnerships, and joint ventures; mergers & acquisitions; and research & development activities in the air quality monitoring systems market.
Major Growth Driving Factors:
The growth of this market is majorly driven by factors such as technological advancements in air quality monitoring systems, increasing public-private funding for effective air pollution monitoring, and the increasing public awareness related to the environmental and healthcare implications of air pollution.
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Expected Revenue Growth:
The global air quality monitoring system market is valued at USD 4.4 billion in 2021 and is expected to reach USD 5.9 billion by 2026, at a CAGR of 6.5% during the forecast period.
Market Size Estimation:
The market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (revenue share analysis of leading players) and top-down approach (assessment of utilization/adoption/penetration trends, by products & services, end user, and region).
Data Triangulation:
After deriving the overall Air quality monitoring systems market value data from the market size estimation process, the total market value data was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments, data triangulation and market breakdown procedures were employed wherever applicable. The data was triangulated by studying various qualitative and quantitative variables as well as by analyzing regional trends for both the demand- and supply-side macro indicators.
Recent Developments:
# In September 2020, Spektris (UK) launched the new ULTRA Series gas analyzer at Semicon Taiwan 2020.
# In February 2020, TSI Incorporated (US) introduced BlueSky Air Quality Monitor (Model 8143) to measure PM1, PM2.5, PM4 and PM10 mass concentrations, as well as temperature and humidity.
# In March 2019, Emerson Electric (US) launched Rosemount CT4400 Continuous Gas Analyzer with Quantum Cascade Laser (QCL) and Tunable Diode Laser (TDL) analyzer for Continuous emission monitoring.
Geographical Growth Dynamics:
The global air quality monitoring systems market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America is the largest regional market for air quality monitoring products, whereas the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period.
Countries in this market are witnessing growth in their GDPs and a significant rise in disposable income among the middle-class population. These developments have led to increased government spending by various regional governments, modernization of industrial and public infrastructures, and rising penetration of cutting-edge environmental monitoring technologies (especially in rural areas).
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End Users:
Government agencies and academic institutes were the key end-users in the air quality monitoring systems market
Based on end user, the air quality monitoring systems market is segmented into government agencies and academic institutes, commercial and residential users, petrochemical industry, power generation plants, pharmaceutical industry, smart city authorities, and other end users.
Government agencies and academic institutes commanded the largest share of the global air quality monitoring systems market in 2020. The demand of air quality monitoring devices among government agencies and academic institutions is driven by active government initiatives for effective air quality monitoring, increased number of research collaborations, and increased installation of AQM stations worldwide.
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