In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSSeptember 2, 2021: Agilent Technologies Inc. to collaborate with Visiopharm to expand the distribution of company’s products worldwide. Agilent is a leader in innovative technology solutions.
September 7, 2020: The UN Environment Programme (UNEP) observed September 7th as the first International Day of Clean Air for blue skies. It was a part of the 2019 UN General Assembly Resolution to reduce air pollution.
The global ambient air quality monitoring system market is estimated to grow at a CAGR of ~8% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the concerning level of air pollution across the globe, along with the favorable government regulations for curbing and controlling air pollution. Moreover, growing awareness amongst people to reduce pollution, and ongoing initiatives to transform pollution-causing industries into eco-friendlier organizations. According to the World Health Organization (WHO), 91% of the global population breaths the air which exceeds the WHO safe guideline limit. More than 4.2 million deaths are caused directly by ambient air pollution, while 7 million deaths are indirectly related to polluted air. The urgent requirement of taking stringent action, on the part of government, as well as, the public is estimated to boost the market growth.
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The market is segmented by installation into outdoor, wearable, and others, out of which, the wearable segment is anticipated to gain the considerable share in the market over the forecast period on account of growing awareness amongst individual regarding the health problems caused by air pollution, and availability of inbuilt air quality trackers in fitness bands and smartwatches. The level of pollution is expected to further increase in the near future, which is estimated to boost the demand for wearable ambient air quality monitoring systems. On the basis of end-user, the government segment is estimated to hold the dominant share in the market throughout the forecast period, owing to the rising pollution levels, and growing concerns amongst government authorities to monitor and control air pollution. Governments of various countries are installing outdoor air quality monitoring systems in government offices, ambassies, and education institutions, among others, to control the surrounding ambient pollution level. The growing air pollution in low-income countries, and concerns regarding the disadvantages of air pollution on health and life expectancy of the citizens, is estimated to boost the segment growth. CLICK TO DOWNLOAD SAMPLE REPORT
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The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
On the basis of geographical analysis, the global ambient air quality monitoring system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of extremely high levels of air pollution in the countries, such as, India, China, and Japan. The growing government initiatives in the region, to curb air pollution, are estimated to boost the market growth. According to the Central Pollution Control Board (CPCB) of India, 200 continuous ambient air monitoring stations are operational in 20 different states, cover more than 116 districts. 4,000 continuous monitoring stations are estimated to come up in the future to combat growing air pollution. Moreover, high demand for air purifiers in countries, such as, India, is estimated to boost the market growth.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the high level of air pollution in various states of the US, along with rising awareness amongst people for health hazards caused by air pollution.
The global ambient air quality monitoring system market is further classified on the basis of region as follows:
Our in-depth analysis of the global ambient air quality monitoring system market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The rising level of air pollution, and growing government initiatives to curb air pollution to boost the market growth.
The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2022 – 2030.
High product cost is estimated to hamper the market growth.
The market in the Asia Pacific region to gain significant opportunities, owing to the high pollution level in developing countries, and government initiatives to curb pollution.
The major players in the market are Emerson Electric Co., General Electric Company, Teledyne Technologies Incorporated, PerkinElmer, Inc., Agilent Technologies, Inc., Spectris plc, The 3M Company, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by installation, end-user, and by region.
The government segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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