Published Date: 31-Dec-2019
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According to a new report Global Air Quality Monitoring System Market, published by KBV Research, The Global Air Quality Monitoring System Market size is expected to reach $6.4 billion by 2025, rising at a market growth of 7% CAGR during the forecast period. The market is experiencing trends such as increased availability of low-cost sensor networks, crowdsourcing, wireless communication development, and growing environmental awareness among the public.
Due to modernized architectures and real-time applications, hardware accounted for the largest market share in 2018. This segment's large share can be attributed to a growing number of system integrators on the market. Some of the multinational conglomerates do system integration research and, therefore, buy hardware from component manufacturers like sensors and displays. The Software market is anticipated to witness a CAGR of 7.6% during (2019 - 2025).
The end-use segment is subdivided into residential, commercial, and industrial. The industrial segment holds the largest share in 2018 and is also projected to develop at the fastest CAGR over the next six years. Industrial segment growth is due to increased adoption of air quality monitoring systems from different industries in response to strict government mandates. The Commercial market is experiencing a growth rate of 7.4% during (2019 - 2025). The Residential market would witness a CAGR of 8.4% during (2019 - 2025).
The market, on the basis of product type, is subdivided into indoor and outdoor monitoring systems. As a result of these systems' increased integration activities with other smart city infrastructure like traffic systems, smart poles, and street light solutions, the outdoor segment dominated the market in 2018. The factor guiding segment growth is government requirements to use air quality monitoring devices in sectors like oil and gas and pharmaceuticals. The Indoor market showcases a CAGR of 10.1% during (2019 - 2025).
Structural Insights: https://www.kbvresearch.com/air-quality-monitoring-system-market/
The North America market dominated the Global Air Quality Monitoring System Market by Region 2018. The Europe market is poised to grow at a CAGR of 6.3% during (2019 - 2025). The Asia-Pacific region is expected to grow at the highest CAGR due to low air quality sensor penetration in China and India. Moreover, the Middle East and African regions offer lucrative market opportunities to market players as a result of rapid industrialization and proactive government initiatives to adopt eco-friendly processes in industries.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Thermo Fisher Scientific, Inc., Siemens AG, Emerson Electric Co., General Electric (GE) Co., 3M Company, Horiba Ltd., Honeywell International, Inc., TE Connectivity Ltd., Agilent Technologies, Inc., Air Quality Monitoring System and Teledyne Technologies, Inc.
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