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Air Quality Monitoring System Market 2024 - By Industry Outlook, Future Trends, Growth Analysis And Forecast To 2033
Air Quality Monitoring System Market
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According to The Business Research Company's, The air quality monitoring system market size has grown strongly in recent years. It will grow from $6.06 billion in 2023 to $6.59 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to increased concerns about air pollution and environmental health, stringent government regulations and environmental standards, growth in awareness of indoor air quality (iaq) issues, rise in incidence of respiratory disorders and allergies, expansion of industrial activities and urbanization.
The air quality monitoring system market size is expected to see strong growth in the next few years. It will grow to $9.52 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to public awareness and demand for real-time air quality data, integration with iot and smart building systems, increasing health and wellness concerns in commercial spaces, government initiatives for air quality improvement and monitoring, market expansion in developing economies. Major trends in the forecast period include technological advancements in sensor and monitoring technology, integration with smartphones and mobile apps, voc (volatile organic compounds) monitoring, real-time data reporting and alerts, integration with hvac and building automation systems.
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Market Drivers and Trends:
The increase in levels of air pollution is expected to propel the growth of the air quality monitoring system market in the coming years. Air pollution is defined as the introduction of pollutants into the atmosphere, which can be in the form of carbon dioxide, methane gases, or other gases containing chemicals. The rise in air pollution drives the growth of air quality monitoring systems as this systems measures the pollutant levels. For instance, according to the World Health Organization report, every year, an estimated 7 million people die as a result of air pollution around the world. Additionally, according to the American Lung Association's 2021 State of the Air report, four out of ten Americans, or 135 million people, reside in counties with harmful levels of air pollution (ALA). Therefore, the increasing levels of air pollution drives the growth of the air quality monitoring system market.
Technology advancements are gaining significant popularity in the air quality monitoring system market. Major companies operating in the air quality monitoring systems sector are focused on developing technological solutions to meet consumer demand. For instance, in March 2021, Thermo Fisher Scientific Inc., a US-based company that specializes in reagents and consumables, scientific instrumentation and software services launched AerosolSense Sampler based on polymerase chain reaction (PCR) technology. AerosolSense Sampler is a new surveillance tool that provides quick and accurate information about the presence of in-air viruses, such as SARS-CoV-2. The AerosolSense Sampler is the next step in supplying institutions with extremely accurate data to aid in the safety of their personnel and the general public.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc., Emerson Electric Co., General Electric Company, Siemens Aktiengesellschaft, Teledyne Technologies Incorporated, PerkinElmer Inc., Agilent Technologies Inc., TE Connectivity Ltd., 3M Company, Honeywell International Inc., Horiba Ltd., Merck KGaA, TSI Incorporated, Tisch Environmental Inc., Testo SE & Co. KGaA, Plume Labs SAS, Aeroqual Limited, Forbes Marshall Private Limited, Hawa Dawa GmbH, Kaiterra Inc., AirVisual Limited, IQAir North America Inc., BreezoMeter Ltd., AirNow Technologies Inc., PurpleAir LLC., Sensirion AG, Alphasense Limited, GDS Technologies Ltd., Ecotech Pty Ltd.
Air Quality Monitoring System Market 2024 Key Insights:
• The air quality monitoring system market size is expected to see strong growth in the next few years. It will grow to $9.52 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%.
• Increasing Levels Of Air Pollution Propel Growth Of Air Quality Monitoring System Market
• Thermo Fisher Scientific Launches Aerosolsense Sampler For Accurate Airborne Virus Detection
• North America was the largest region in the air quality monitoring system market in 2023
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