Overview of This Study:
The study involved four major activities in estimating the current market size for the air quality monitoring system market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.
Expected Growth in Revenue:
The global air quality monitoring system market is projected to reach USD 6.0 billion by 2025 from USD 4.3 billion in 2019, at a CAGR of 5.6%.
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Market Size Estimation:
Both top-down and bottom-up approaches were used to estimate and validate the total size of the market. These methods were also used extensively to determine the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
# Product mapping of various manufacturers for each type of air quality monitoring products at the regional and country-level
# Relative adoption pattern of each air quality monitoring product among key end-users at regional and country-level
# Detailed primary research to gather quantitative information related to segments and subsegments at the regional and/or country-level
# Detailed secondary research to gauge prevailing market trends at the regional and/or country-level
Major Growth Boosting Factors:
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 associated with the rising levels of air pollution, initiatives towards the development of environment-friendly industries, and increasing public awareness related to the environmental and healthcare implications of air pollution.
Data Triangulation:
After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the air quality monitoring systems market.
Geographical Growth Survey:
North America to dominate the air quality monitoring system market during the forecast period
Geographically, the air quality monitoring system 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 2019. 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.
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Key Players:
The major players operating in the air quality monitoring system market include Thermo Fisher Scientific (US), Emerson Electric (US), General Electric (US), Siemens AG (Germany), Teledyne Technologies (US), PerkinElmer, Inc. (US), Agilent Technologies, Inc. (US), Spectris plc (UK), 3M Company (US), Honeywell International Inc (US), HORIBA, Ltd. (Japan), Merck KGaA (Germany), TSI Incorporated (US), Tisch Environmental (US), and Testo (Germany), among others.
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