Dublin, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The "Air Quality Monitoring System Market by Product (Indoor, Outdoor, Fixed, Portable, Wearable), Sampling, Pollutant (Chemical, Physical, Biological), End User (Govt, Petrochemical, Residential, Smart City), & Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global air quality monitoring systems market is projected to reach USD 6.9 billion by 2028 from USD 4.9 billion in 2023, growing at a CAGR of 7.0% during the forecast period. The rise in technological advancements in air quality monitoring systems is one of the major factors anticipated to boost market growth in the forecasting years.
Indoor monitors accounted for the largest share In the air quality monitoring systems market in 2022.
Based on the product, the air quality monitoring systems market is segmented into indoor monitors, outdoor monitors, and wearable monitors. The outdoor monitors are expected to grow at the highest CAGR during the forecast period. Growth in this segment is majorly driven by the rise in industrial use of air pollution monitoring systems, end-user base growth, end-user base expansion of fixed outdoor monitors, ongoing AQM stations installation across markets (especially in emerging countries), public-private investments for affordable and novel ambient monitoring products development, and rising availability of miniaturized and portable products. However, factors such as significant fixed devices and AQM station maintenance costs, as well as the slow implementation of AQM regulatory guidelines across emerging countries are expected to restrain market growth.
Portable outdoor monitors to grow with the highest CAGR of the outdoor monitor segment of the air quality monitoring systems market in the forecast period.
The portable outdoor monitor segment grows with the highest CAGR of the outdoor air quality monitoring systems market. The growth of this segment can be attributed to their operational advantages, rise in public-private investments for product development, and the availability of advanced ambient monitoring sensors and miniaturized & portable products. Though the reluctance among end users to adopt environment-friendly techniques (especially in emerging and less-developed countries) is hampering the overall growth of the portable outdoor monitors market.
Presence of stringent environmental regulations and government investments to drive the segment growth of the hospital end-user segment.
Based on end users, the air quality monitoring systems market is segmented into government agencies and academic institutes, the petrochemical industry, commercial and residential users power generation plants, the pharmaceutical industry, smart city authorities, and other end users. The major end users of AQM products are government agencies and academic institutes. The commercial and residential users segment accounted for the second-largest share of the air quality monitoring systems market in 2020. The growth of this end-user segment is driven by the rising public awareness of the health implications of indoor air pollution, increasing indoor or household air pollution levels, and technological advancements in indoor air monitoring (such as the use of wearable devices and mobile-based software). However, the premium pricing of advanced air quality monitors is expected to limit their demand among commercial and residential users during the forecast period.
The Asia Pacific market, by region, is to register the highest CAGR in the forecast period(2023-28).
Based on region, the air quality monitoring systems market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America holds the largest share of the Air quality systems monitoring market and Asia Pacific is witnessed to have the highest CAGR during the forecast period.. Growth in the APAC market is driven by large-scale industrialization, implementation of stringent regulations, and government support for AQM product development and commercialization. Countries in this market are witnessing growth in their GDPs which has led to the modernization of industrial and public infrastructures and increased expenditure by various regional governments on air quality monitoring activities. However, a dearth of skilled professionals for the operation of advanced instruments, slow implementation of pollution control reforms due to budgetary constraints, and pricing pressures faced by prominent product manufacturers are the key factors restraining the growth of the air quality monitoring systems market despite the great opportunities available in the APAC region
Premium Insights
- Government Initiatives for Air Pollution Control due to Rising Industrialization to Drive Market
- Active/Continuous Monitoring Segment in Germany Accounted for Largest Market Share in 2022
- Nitrous Oxides Segment to Dominate Market During Forecast Period
- China to Register Highest CAGR During Forecast Period
Market Dynamics
Drivers
- Government Initiatives for AQM Due to Rising Industrialization and Urbanization
- Growing Concerns Over Rising Air Pollution
- Favorable Public-Private Initiatives for Environmental Conservation
- Supportive Funding Investments for Effective Air Pollution Control
Restraints
- Premium Product Pricing
- Technical Limitations Associated with Aqm Products
Opportunities
- Rising Technological Advancements in Aqm Systems
- Increasing R&D Activities for Environmental Policies
Challenges
- Inadequate Implementation of Air Pollution Control Reforms
- Availability of Alternative Monitoring Solutions
- Challenges Associated with Identifying Emerging Pollutants
Company Profiles
Key Players
- Thermo Fisher Scientific, Inc.
- Siemens Ag
- Teledyne Technologies Incorporated
- Emerson Electric Co.
- GE Power
- 3M
- Horiba, Ltd.
- Merck KGaA
- Spectris
- Tsi
- Testo Se & Co. KGaA
- Honeywell International Inc.
- Agilent Technologies, Inc.
- Perkinelmer Inc.
- Tisch Environmental, Inc.
Other Players
- Aeroqual
- Forbes Marshall
- Plume Labs
- Atmotech, Inc.
- Hangzhou Zetian Technology
- Servomex Group Limited
- Vaisala
- Ricardo
- Ball Corporation
- Ambee
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 149 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $4.9 Billion |
| Forecasted Market Value (USD) by 2028 | $6.9 Billion |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/kgz734
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