According to the new market research report, the market is expected to grow from USD 2.52 billion in 2015 to USD 4.63 billion by 2022, at a CAGR of 9.22% between 2016 and 2022. The rising demand for indoor air quality monitoring products is due to the increasing adoption of smart home & greenbuilding technologies, growing consumer preference for pollutionfree indoor environments, and development and commercialization of innovative wearable air-quality monitoring devices.
On the basis of product, the global air indoor quality monitor market has been segmented into fixed and portable indoor monitors. The market for portable indoor monitors is expected to grow at the highest rate during the forecast period. The market growth can be attributed to the increasing adoption of smart homes and green-building technologies (including effective ventilation, air quality monitoring and control, and indoor dust & gas level management) and growing consumer preference for healthy and pollution-free indoor environments.
Chemical pollutants accounted for the largest share of the global indoor air quality monitor market in 2015. This can be attributed to factors such as the increasing number of stringent government regulations for effective monitoring and control of industrial exhausts, growing public concerns about the health implications of air pollution, and ongoing development and commercialization of innovative gas and chemical detection sensors.
Government buildings accounted for the largest share of the overall indoor air quality monitor market in 2015. This can be attributed to the increasing focus of governments toward green buildings and growing health concerns due to rising air pollution. The governments in the countries such as the US, the UK, and China, among others, have made stringent regulations for air pollution monitoring and have released funding for installing air quality monitors within their premises for continuous monitoring.
North America is expected to hold the largest size of the indoor air quality monitor market during the forecast period. North America is a mature market, with the high penetration of advanced pollution monitoring technologies and the presence of wellestablished distribution channels for the supply of indoor air quality monitoring products. The US is expected to dominate the market in this region in 2016. The market growth in the US can be attributed to the significantly large end-user base for industrial and indoor air pollution monitoring products in the country compared to Canada. The major factors driving the growth of the market in the US include significant public-private funding and investments to support air pollution monitoring-based researches and ongoing technological advancements in the field of gas analyzers and particulate sensors.