- Indoor Air Quality (IAQ) signifies the air quality inside structures and buildings; it is associated with the comfort and health of building occupants. Understanding and controlling everyday pollutants indoors can mitigate an individual’s indoor health concerns. Local air pollution is monitored by countries around the world by their own sets of regulations. Indoor air quality solutions protect the environment and people from harmful air pollution.
Key Drivers of the Global Indoor Air Quality Solutions Market
- The extreme increase in the amount of indoor pollutants around the world has pushed the demand for smart air quality monitors in commercial and residential buildings. Cutting-edge technologies, for instance IoT, and various type of sensors are expected to drive the demand for indoor air quality solutions in the coming years.
COVID-19 to Create Huge Opportunity for the Indoor Air Quality Solutions Market
- People are considering the essential precautions that are required to decrease their chances of contracting the coronavirus and other germs and viruses. Individuals spend around 90% of their lives indoors, and contaminant levels can be as high as the levels encountered outside. Indoor air pollution is one of the top environmental threats in the U.S. as indicated by The Environmental Protection Agency (EPA). Therefore, people are looking for best indoor air quality solutions for their homes and in commercial buildings.
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Market in Asia Pacific to Expand Rapidly
- In terms of geography, the global indoor air quality solutions market can be divided into five regions North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the Indoor air quality solutions market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the Indoor air quality solutions market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America indoor air quality solutions market is segmented into Brazil, and Rest of South America.
- Presently, North America and Europe account for major share of the indoor air quality solutions market across the globe due to presence of well-known brands and continuous innovation in the regions. For instance, in October 2019, Switzerland-based company Talkpool launched two new IoT indoor air quality products: a CO2, temperature, and humidity sensor (OY1210 LoRaWAN); and a particles, temperature, and humidity sensor (OY1700 LoRaWAN). The products are used in energy optimization of heating/cooling systems in buildings and to ensure healthy indoor air quality in commercial buildings, schools, and homes.
- However, Asia Pacific is projected to be the fastest growing market during the forecast period. The rising pollution in countries in the region, and the introduction of advanced technology for indoor air quality solutions is likely to impact the indoor air quality solutions market growth in Asia Pacific. China, India, and Japan are the major markets for indoor air quality solutions in the region. For instance, in November 2019, Philips launched affordable 800 series air purifiers exclusively designed for India. The Philips 800 series is built with an intelligent auto purification mode and smart sensing technology.
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Key Players Operating in the Global Market
The indoor air quality solutions market is consolidated and highly competitive owing to the presence of established global and several domestic players. Key players are focusing on raising their productivity to expand their topographical reach and increase their customer base. Manufacturers are focusing on new product launches, spreading awareness about the air quality, and on merger and acquisition to compete and gain significant share in the indoor air quality solutions market in the coming years.
For example, in December 2019, air quality solutions company Plasma Clean launched new products and services to improve indoor air quality. Plasma Clean is now focusing on indoor air quality in order to improve workplace wellbeing and employee health.