Ambient Air Quality Monitoring System Market
Segmentation by Installation (Outdoor, Wearable, and Others); and by End-User (Residential, Government, Industrial, and Others) – Global Demand Analysis & Opportunity Outlook 2030
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Segmentation by Installation (Outdoor, Wearable, and Others); and by End-User (Residential, Government, Industrial, and Others) – Global Demand Analysis & Opportunity Outlook 2030
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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:
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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.
Our in-depth analysis of the global ambient air quality monitoring system market includes the following segments:
By Installation
By End-User
Growth Drivers
Challenges
September 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.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: The rising level of air pollution, and growing government initiatives to curb air pollution to boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2022 – 2030.
Ans: High product cost is estimated to hamper the market growth.
Ans: 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.
Ans: 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.
Ans: 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.
Ans: The market is segmented by installation, end-user, and by region.
Ans: The government segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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