Indoor air quality is a major factor affecting the health, comfort and productivity of the occupants inside a building. The local air pollution is characterized and monitored by countries across the globe by their own set of regulations. The goal of air quality monitoring system is to protect people and the environment from harmful air pollution. The indoor air quality monitoring systems market has shown a significant growth in the past few years and is expected to grow further in the forecast period.
One of the key factors fueling the growth of the market is increasing public awareness related to air pollution and its effects on health and environment. Other factors affecting the growth of this market include increasing popularity of smart homes, effective indoor air pollution monitoring and control regulations by governments, and increased funding in R&D for effective air pollution monitoring. Whereas, some of the major restraints to the indoor air quality monitor market are high cost of products and their maintenance, technical limitations of these devices and lack of awareness in the developing economies.
The global indoor air quality monitor market has been segmented on the basis of product type, pollutant type, application and geography. On the basis of product type the market can be segmented into fixed and portable monitors. The growth of portable monitors is expected to remain high as compared to the fixed monitors during the forecast period. The adoption of green building technologies such as air quality monitoring, ventilation management, humidity control, indoor dust and gas level management along with growth in the smart homes market can be the factors affecting the growth of global indoor air quality market. Based on pollutant type, the market has been segmented into chemical, biological, and physical pollutants. On the basis of application the market is segmented into residential, commercial, industrial, private establishments, government buildings, and others. Further, the market has been divided into North America, Europe, APAC, Middle East and Africa, and South America on the basis of geography.
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North America accounted for the largest share of the global indoor air quality monitor market, followed by Europe in 2015. This trend is expected to follow in the forecast period. A number of factors such as the increasing use of new advanced indoor air quality monitoring systems, technical breakthroughs in the field of particulate sensors and gas analyzers, supporting government regulations, rising government/private funding for promoting indoor and outdoor air pollution monitoring are driving the growth of the indoor air quality monitor market in the North America and Europe. The APAC market is expected to grow at the highest rate between 2016 and 2024.
The global indoor air quality monitor market growth in APAC can be attributed to the growing government emphasis on industry compliance with safety environment regulations, problems arising due to industrialization, implementation of strict air pollution control regulations, and increasing government support for development and use of advanced technologies in air quality monitoring systems. Growing economy of Asian countries such as India and China are inviting global players in the market is another factor supporting the market growth in Asia Pacific.
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Some of the key players operating in the global indoor air quality market are Thermo Fisher Scientific, Inc., Siemens AG, Emerson Electric Co., 3M Company, TSI, Inc., Ingersoll Rand Plc., HORIBA, Ltd., Testo AG, Aeroqual, and Nest Labs Inc. The largest market share was held by Thermo Fisher Scientific, Inc. (U.S.) in the global indoor air quality monitor market. These leading companies have primarily focused on collaboration, new product launches, investment in research and development (R&D) and expansion for growth in the market.
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