Press release
Soaring Demand Set to Propel Air Quality Monitoring System Market to $10.2 Billion by 2029
Air Quality Monitoring System
What Is the Expected CAGR for the Air Quality Monitoring System Market Through 2025?
The market size of the air quality monitoring system has experienced significant growth in the past few years. The market value will increase from $6.54 billion in 2024 to $6.98 billion in 2025, at a compound annual growth rate of 6.7%. The historic growth of the market is as a result of several factors including heightened worries over air pollution and the health of the environment, strict government rules and environmental standards, increased public awareness of indoor air quality (iaq) problems, an uptick in cases of respiratory diseases and allergies, and the proliferation of industrial activities and urbanization.
What's the Projected Size of the Global Air Quality Monitoring System Market by 2029?
The market size of air quality monitoring systems is predicted to witness substantial grow in the approaching years, set to surge to $10.2 billion in 2029 at a compound annual growth rate of 9.9%. The expected growth during the forecasted period can be accredited to increased public consciousness and the demand for instantaneous air quality data, amalgamation with IoT and intelligent building systems, rising health and wellness apprehensions in commercial areas, government schemes for enhancing and monitoring air quality, and market penetration in emerging economies. Key trends anticipated during the forecast period encompass technological progress in sensor and monitoring science, amalgamation with smartphones and mobile apps, monitoring of volatile organic compounds, immediate data reporting and alerting, assimilation with HVAC and building automation systems.
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Top Growth Drivers in the Air Quality Monitoring System Industry: What's Accelerating the Market?
The surge in air pollution levels is predicted to spur the expansion of the air quality monitoring system market in the upcoming years. Air pollution is characterized as the injection of contaminants into the air, which may include carbon dioxide, methane gases, or various chemically constituted gases. The escalating levels of air pollution catalyze the expansion of air quality monitoring systems, as these systems are designed to measure the concentration of pollutants. For example, a report by the World Health Organization indicates that around 7 million people globally succumb to death each year due to air pollution. Furthermore, the American Lung Association's State of the Air report in 2021 revealed that harmful levels of air pollution affect the counties where four-tenths of Americans, equivalent to 135 million people, dwell (ALA). Therefore, the escalating air pollution levels serve as the key driving factor behind the growth of the air quality monitoring system market.
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What Trends Will Shape the Air Quality Monitoring System Market Through 2029 and Beyond?
In the air quality monitoring system market, innovations in technology are becoming increasingly prominent. Companies leading in this sector are keenly focusing on unveiling tech-savvy solutions to cater to customer needs. To cite an example, Renesas Electronics Corporation, a renowned semiconductor solutions corporation from Japan, in August 2024 initiated the RRH62000, a multi-sensor air quality module. This innovative module has a compact design incorporating multiple sensor parameters, facilitating precise detection of volatile organic compounds, diverse particle sizes, and toxic gases. It utilizes a Renesas microcontroller (MCU) to offer an intelligent sensor management solution designed for the growing air monitoring applications market, including HVAC systems, smoke detectors, air purifiers, smart home systems, and weather stations. Moreover, it possesses robust firmware guaranteeing compliance of customer products with different international air quality regulations.
What Are the Main Segments in the Air Quality Monitoring System Market?
The air quality monitoring systemmarket covered in this report is segmented -
1) By Product Type: Indoor, Outdoor
2) By Component: Hardware, Software
3) By Pollutant: Chemical, Physical
4) By End User: Industrial, Commercial, Residential
Subsegments:
1) By Indoor Air Quality Monitoring Systems: Fixed Indoor Air Quality Monitors, Portable Indoor Air Quality Monitors, Smart Indoor Air Quality Monitors, Integrated HVAC Air Quality Monitors
2) By Outdoor Air Quality Monitoring Systems: Fixed Outdoor Air Quality Monitors, Mobile Outdoor Air Quality Monitors, Remote Sensing Outdoor Air Quality Monitors, Air Quality Monitoring Stations
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Which Top Companies are Driving Growth in the Air Quality Monitoring System Market?
Major companies operating in the air quality monitoring system market include 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.
Which Regions Will Dominate the Air Quality Monitoring System Market Through 2029?
North America was the largest region in the air quality monitoring system market in 2024. The regions covered in the air quality monitoring system market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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