The global air quality monitoring systems 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.
Outdoor monitors segment of global air quality monitoring systems market to grow with the highest CAGR in the forecast period
On the basis of product, the air quality monitoring systems market is segmented into indoor monitors, outdoor monitors, and wearable monitors. Indoor monitors market is further segmented into fixed indoor monitors and portable indoor monitors. The outdoor monitors market is also segmented into portable outdoor monitors, fixed outdoor monitors, dust & particulate matter monitors and AQM stations. The outdoor monitors segment is expected to register the highest CAGR in the forecast period.
Growth in this segment is majorly driven by the rising availability of miniaturized and portable products, public-private investments to develop affordable and novel ambient monitoring products, rising industrial use of ambient air pollution monitoring systems, growing end-user base, and ongoing installation of AQM stations across major markets (especially across emerging countries). However, factors such as significant maintenance costs associated with fixed devices and AQM stations, as well as the slow implementation of regulatory guidelines for AQM across emerging countries are expected to restrain market growth.
Portable outdoor monitors accounted for the largest market share of the outdoor monitors segment of air quality monitoring systems market in 2020
In 2020, the portable outdoor monitors segment accounted for the largest share of the outdoor air quality monitoring systems market. The large share of this segment can be attributed to their operational advantages, the availability of advanced ambient monitoring sensors and miniaturized & portable products, and the rising public-private investments for product development. Some of the key players operating in this segment are Aeroqual (New Zealand), Airveda (India), TSI Incorporated (US), and Labrotek Ltd. (Finland).