Global Air Quality Monitoring System Market – Emerging Economies to Present Greater Growth Opportunities
The global air quality monitoring system market is segmented by product, sampling method, pollutant, end user, and region. Based on product, the air quality monitoring system market is segmented into indoor monitors (comprising fixed and portable monitors), outdoor monitors (comprising fixed, portable, dust, particulate monitors as well as AQM stations), and wearable monitors.
The outdoor monitors segment is expected to witness the highest growth rate during the forecast period; owing to attributed to the rising industrial use of ambient air pollution monitoring systems, expansions in the end-user base of fixed outdoor monitors, and ongoing installations of AQM stations across major markets.
The major factors driving the growth of the air quality monitoring system market include the supportive government regulations for effective air pollution monitoring and control, ongoing initiatives towards the development of environment-friendly industries, increasing public-private funding for effective air pollution monitoring, rising levels of air pollution, and increasing public awareness related to the environmental and healthcare implications of air pollution.
The global air quality monitoring system (AQMS) market is projected to reach USD 4.90 billion by 2022 at a CAGR of 4.6% during forecast period.
Geographically, the AQMS market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America held the largest share of the market in 2017. Factors such as easy accessibility and fast adoption of advanced technologies among key stakeholders and the presence of stringent government regulations for effective pollution monitoring and control are contributing to the large share of the North American region.
The major players operating in the AQMS market include Thermo Fisher Scientific (US), Teledyne Technologies, Inc. (US), Siemens Ltd. (Germany), Emerson Electric Co. (US), and General Electric (US).
Analysis of the market developments between 2015 and 2018 revealed that several growth strategies such as product launches, enhancements, strategic acquisitions, agreements, partnerships, collaborations, and expansions were adopted by the market players to strengthen their product portfolios and maintain a competitive position in the air quality monitoring systems market. Among these business strategies, product enhancements, agreements, and partnerships were the most widely adopted growth strategies by the players in the air quality monitoring systems market.
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