Air Quality Monitoring System Market - Major Growth Driving Factors:

Technological advancements in air quality monitoring systems, rising levels of air pollution, supportive government regulations for effective air pollution monitoring and control, and ongoing initiatives toward the development of environment-friendly industries are the major factors that drives the growth of this market. Adding to this, increasing public-private funding for effective air pollution monitoring, and the increasing public awareness related to the environmental and healthcare implications of air pollution also supports the growth of this market.

The air quality monitoring system market is expected to experience steady growth owing to the rising concern of air pollution. According to WHO, a mbient air pollution accounts for an estimated 4.2 million deaths per year due to stroke, heart disease, lung cancer, acute and chronic respiratory diseases. Around 91% of the world’s population lives in places where air quality levels exceed WHO limits.

While ambient air pollution affects developed and developing countries alike, low- and middle-income countries experience the highest-burden, with the greatest toll in the WHO Western Pacific and South-East Asia regions. According to WHO, 3.8 million people a year die prematurely from illness attributable to the household air pollution. Among these 3.8 million deaths:

# 27% are due to pneumonia
# 18% from stroke
# 27% from ischaemic heart disease
# 20% from chronic obstructive pulmonary disease (COPD)
# 8% from lung cancer

Projected Surge in Revenue:

The global air quality monitoring system market is valued at USD 4.4 billion in 2021 and is expected to reach USD 5.9 billion by 2026, at a CAGR of 6.5% during the forecast period.

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On the basis of product, the air quality monitoring system market is segmented into indoor monitors, outdoor monitors, and wearable monitors. Indoor monitors commanded the largest share of the global AQM products market in 2020. The dominant position of this market segment can be attributed to the growing installation of AQM stations, initiatives to increase public awareness about the health implications of indoor air pollution, increasing adoption of smart home and green-building technologies, and the growing preference for pollution-free indoor environments. Market growth is further aided by the continuous development and commercialization of innovative AQM technologies and government regulations mandating the regular monitoring of indoor air quality in working premises.

End Users:

Based on end user, the air quality monitoring system market is segmented into government agencies and academic institutes, commercial and residential users, petrochemical industry, power generation plants, pharmaceutical industry, smart city authorities, and other end users. The government agencies and academic institutes segment dominated the global AQM end-user market in 2020.

The large share of this segment can be attributed to factors such as the presence of stringent environmental regulations, increased number of research collaborations, rising government investments for effective AQM and air pollution control, and the increasing installations of AQM stations worldwide. The commercial and residential users segment accounted for the second-largest share of the global air quality monitoring systems market in 2020. The rising adoption of green building and smart home technologies, and the advancement in air quality monitoring systems are the major factors driving the demand for AQM products among commercial and residential users.

Geographical Growth Prospects:

The global air quality monitoring system market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East Africa. North America dominated the air quality monitoring systems market with the largest market share in 2020. The large share of this regional segment can primarily be attributed to the easy accessibility and fast adoption of advanced technologies among key stakeholders and the presence of stringent government regulations for effective pollution monitoring and control.

The air quality monitoring system market in the Asia Pacific region is projected to register the highest CAGR during the forecast period. Growth in this market is driven by factors such as the implementation of stringent air pollution regulations across major Asian countries and government support for the development and commercialization of advanced AQM products.

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