Published: Sept. 23, 2020 at 9:32 a.m. ET0
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Sep 23, 2020 (AmericaNewsHour) — The global smart indoor air quality monitoring devicemarket is segmented into end-user such as residential, commercial, and industrial. Among these segments, residentialsmart indoor air quality monitoring deviceis expected to garner at a notable CAGR during the forecast period. Further, capability of real-time surveying of common outdoor air pollutants such as carbon dioxide, and carbon monoxide as well as temperature and relative humidity is projected to fuel the demand for smart indoor air quality monitoring device.Moreover, growing number of patients suffering from asthma diseases is creating a huge demand forsmart indoor air quality monitoring device and isbelieved to flourish the growth of global smart indoor air quality monitoring devicemarket.
Global smart indoor air quality monitoring devicemarket is anticipated to account a notable CAGR of 10.9% over the forecast period i.e. 2017-2024. Moreover, the global smart indoor air quality monitoring devicemarket is projected to reach at exponential sales by the end of 2024. The market is expected to expand on the back of increasing consumer preference for healthy and pollution-free indoor environments.
In terms of regional platform, North America and Europe are expected to be the key market for smart indoor air quality monitoring device. Further, both the regions are expected to account for 65%% market share in 2016. Further,North America region grabbed the largest market of smart indoor air quality monitoring device. Further, U.S. and Canada are the dominating nations in this region owing to presence of major key players. Apart from this, Asia-Pacific region is projected to be the most lucrativemarket owing to growing real estate sector.
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Increasing personal disposable income of the consumers have paved them to adopt advanced technologies to monitor the air quality inside the room along with multiplying asthma population across the globe are believed to be the dynamic factor behind the rapid growth of smart indoor air quality monitoring device market across the globe.
Technological Advancement in Healthcare Devices
Spiked penetration of smart air monitoring devices that can be connected with smart phones by wi-fi or Bluetooth andstrict government regulations for monitoring and controlling of industrial exhausts is expected to bolster the growth of smart indoor air quality monitoring device market. Moreover, increasing introduction of innovative gas and chemical detection sensors is also propelling the market of smart indoor air quality monitoring device.
On the contrary, high cost of smart indoor air quality monitoring device and lack of awareness in underdeveloped and developing nations regarding smart indoor air quality monitoring device are anticipated to hamper the growth of smart indoor air quality monitoring device market.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global smart indoor air quality monitoring devicemarket which includes company profiling ofFoobot, Air Advice, uHoo, Birdi ,Awair, Cube Sensors, Koto Air, Air Mentor, NetAtMo, AirThings Wave, and Honeywell International. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart indoor air quality monitoring devicemarket that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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