Indoor Air Quality Monitor Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032, Segmented By Product Type (Fixed and Portable), By End Use (Residential, Commercial, Industrial), By Region, By Competition Forecast & Opportunities

Market Overview

Indoor Air Quality Monitor Market hasvalued at USD4.75 billion in 2022 and is anticipated to project robust growthin the forecast period with a CAGR of 7.2% through 2028. Air quality monitoringsystems play a crucial role in ensuring the well-being of individuals andimproving the overall quality of life. These systems help in detecting andmeasuring various pollutants such as particulate matter, volatile organiccompounds (VOCs), carbon dioxide, and formaldehyde present in indoorenvironments. They provide real-time data and alerts, enabling users to takenecessary actions to improve indoor air quality. Factors such as risingawareness about indoor air pollution, stringent regulations, the growingcommercial sector, and technological advancements are driving market growth. Themarket for indoor air quality monitors has been witnessing strong growthglobally due to increasing concerns about air pollution and its impact on humanhealth.

Key Market Drivers

IncreasingAwareness About Indoor Air Pollution

With growing concerns about the impactof air pollution on human health, there is a rising awareness of indoor airquality and its effects on overall well-being. People are becoming moreconscious of the potential health risks associated with poor indoor airquality, including respiratory issues, allergies, and other healthcomplications. This increased awareness is driving the demand for indoor airquality monitors as individuals and organizations seek to monitor and improvethe air quality in their indoor environments.

Stringentregulations and standards

Governments and regulatory bodiesworldwide are implementing stricter regulations and standards related to indoorair quality. This is driving the adoption of air quality monitoring systems invarious sectors, including residential, commercial, industrial, and healthcare,to ensure compliance with these regulations and maintain a safe indoorenvironment.

GrowingEmphasis on Occupational Safety and Health

Occupational safety and healthregulations require employers to provide a safe working environment for theiremployees. Indoor air quality plays a crucial role in ensuring a healthyworkplace. As organizations prioritize the well-being of their employees, thereis an increasing demand for indoor air quality monitors to continuously monitorand maintain optimal indoor air quality levels. In the global indoor airquality monitor market, there is a growing emphasis on occupational safety andhealth. Businesses and organizations are increasingly recognizing theimportance of maintaining high indoor air quality standards to protect thehealth and well-being of employees. Occupational safety and health regulations,along with industry standards, are driving the adoption of indoor air qualitymonitors in workplaces. These monitors provide real-time data on pollutantlevels, ventilation effectiveness, and overall indoor air quality, enablingorganizations to identify potential hazards and take necessary measures tomitigate them.

IncreasingAdoption of Smart Home Automation

The growing trend of smart homeautomation presents opportunities for the integration of indoor air qualitymonitors into smart home systems. Indoor air quality monitors can be connectedto other smart devices, such as thermostats, air purifiers, and HVAC systems,to automatically regulate and improve indoor air quality. This integrationenhances the convenience and effectiveness of managing indoor air quality in residentialsettings. The growing popularity of smart homes, where various devices andsystems are connected and controlled remotely, is bolstering the demand forsmart indoor air quality monitors. These monitors can be integrated intoexisting smart home ecosystems, allowing users to monitor and manage theirindoor air quality conveniently through their connected devices. Smart indoorair quality monitors offer enhanced convenience and ease of use compared totraditional monitors. With smart features such as real-time monitoring,automated alerts, and compatibility with voice assistants and mobile apps,users can effortlessly track and manage their indoor air quality from anywhere,at any time.

Emphasis on Energy Efficiency

Energy efficiency isa key consideration in building design and operations. Indoor air qualitymonitors are being integrated into energy management systems to optimizeventilation and reduce energy consumption while maintaining healthy airquality. The focus on sustainable building practices and energy-efficienttechnologies is driving the adoption of indoor air quality monitoringsolutions. n the global indoor air quality monitor market, there is a growingemphasis on energy efficiency. As organizations and individuals strive to createhealthier indoor environments, they are also becoming increasingly conscious oftheir energy consumption and environmental impact. Energy-efficient indoor airquality monitors play a crucial role in achieving a balance between maintaininggood air quality and minimizing energy usage. One key aspect of energyefficiency in indoor air quality monitors is the development of low-powersensors and monitoring systems. These devices are designed to consume minimalenergy while providing accurate and reliable air quality data. By optimizingpower usage, they can operate for extended periods without draining excessiveenergy resources.

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Key Market Challenges

Costof Monitoring Systems

Indoor air quality monitoring systemscan be expensive, especially those that offer comprehensive monitoringcapabilities. The high cost of these systems can limit their affordability andaccessibility for some consumers or businesses.

Complexityof Customization and Operation

Indoor air quality monitoring systemsoften require customization to address specific needs and environments. Thiscustomization process can be complex and may require professional expertise tooperate effectively. The complexity can act as a barrier to widespreadadoption.

Dependency on Professional Expertise

Proper interpretation and analysis ofindoor air quality data often require professional expertise. This reliance onexperts can pose challenges, as it may limit the scalability of monitoringprograms and increase costs associated with the deployment and maintenance ofthe systems.

Key Market Trends

TechnologicalDevelopments

The development of advanced sensortechnologies has made it easier and more cost-effective to monitor indoor airquality. Innovative sensors can detect various pollutants, such as volatileorganic compounds (VOCs), particulate matter, carbon dioxide (CO2), andformaldehyde. These sensors provide accurate and real-time data, enabling usersto take immediate actions to improve indoor air quality. The advancements insensor technology have made indoor air quality monitors more accessible andaffordable, driving their adoption in residential and commercial settings.

IncreasingPrevalence of Respiratory Conditions

The rising incidence of respiratorydiseases, allergies, and asthma is creating a greater awareness of theimportance of monitoring indoor air quality. People are investing in airquality monitors to track and manage their indoor environment, particularlythose with respiratory conditions or sensitive health issues.

Increasing Demand for Portable andWearable Monitors

Portable and wearable indoor air qualitymonitors are gaining popularity. These compact devices allow individuals tomonitor the air quality around them wherever they go. They are especiallyuseful for people with respiratory conditions or those who are sensitive toenvironmental pollutants.

Focus On Real-Time Monitoring

Real-time monitoring capabilities arebecoming increasingly important in indoor air quality monitors. Users wantinstant access to accurate and up-to-date information about pollutant levels intheir surroundings. This trend is driving the development of advanced sensorsand data analytics solutions for real-time monitoring and analysis.

Growth In Commercial Applications

The commercial sector, includingoffices, hotels, and healthcare facilities, is witnessing significant growth inthe adoption of indoor air quality monitors. Organizations are increasinglyinvesting in these devices to ensure occupant health, comply with regulations,and create healthier indoor environments.

Segmental Insights

Product Type

With a 51.2% market sharein 2022, the portable segment led the global indoor quality monitor market andis predicted to continue expanding over the coming years.

End Use Insights

Theglobal indoor air quality monitor market is fueled by the commercial sectorduring the forecast period.

Regional Insights

The global market for indoor air qualitymonitors is indeed experiencing rapid growth in the North America region. Theincreasing awareness about the importance of maintaining healthy indoor airquality and the implementation of stricter regulations have fueled the demandfor air quality monitoring systems in North America. Also, orth America hasimplemented stringent regulations and standards regarding indoor air quality invarious sectors, including residential, commercial, and industrial. Theseregulations drive the adoption of air quality monitoring systems to ensurecompliance and maintain a safe and healthy indoor environment.

Recent Developments

• In 2023, Fellowes, a long-standingfamily-owned company providing trusted workplace solutions for over a century,is pleased to announce the launch of Array™, our most advanced networked airquality system. This groundbreaking solution leverages cutting-edge technologyand our extensive experience in air purification to revolutionize indoor airquality (IAQ). The Array system includes a comprehensive suite of IAQ sensorsto monitor various factors such as particulates (PM10, PM2.5), occupancy,temperature, pressure, humidity (RH), carbon dioxide (CO2), and TVOCs. Ourpatented EnviroSmart+™ Technology ensures real-time monitoring and proactiveresponse to ensure a constant supply of clean air. With the Fellowes Array™Viewpoint dashboard, building managers can remotely monitor the system'sperformance, gaining comprehensive visibility into their building's airquality.
• In 2023, Honeywellhas introduced a groundbreaking solution today, seamlessly combining earlywarning smoke detection with advanced indoor air quality (IAQ) monitoring. Thisinnovative development showcases Honeywell's commitment to creating safer andhealthier buildings. Leveraging the renowned VESDA-E™ line of aspirating smokedetectors, the VESDA Air solution features a distinctive five-in-one IAQ sensorhoused within a single box. This integrated approach enhances building safetyby proactively identifying life safety, asset protection, or IAQ concernsbefore they escalate into major issues. VESDA Air perfectly complements Honeywell's comprehensive HealthyBuildings solutions, which are readily available to enhance occupantwell-being, achieve energy efficiency objectives, and fundamentally transformthe occupant experience within any building.
• In 2023, Ikea is expandingits range of smart home products by introducing a tabletop air quality sensorcapable of detecting particles smaller than 2.5 micrometers. Named Vindstryka,which means "wind force" in Swedish, this sensor can also monitorgaseous pollutants as well as changes in temperature and humidity. It is set tobe released in April 2023 and will be compatible with Matter, the industrystandard for smart home devices. Henrik Telander, the product owner at IKEASweden, emphasized the significance of indoor air quality, as many individualsare mindful of pollution but tend to overlook the importance of maintaining ahealthy indoor environment.
• In2023, Leading UK smart sensor manufacturer, Pressac, is set to expand itsproduct lineup with a new indoor air quality (IAQ) sensor. This cutting-edgedevice will assist organizations in ensuring their buildings meet necessarystandards, prioritizing the safety and well-being of staff and visitors. Furthermore,the sensor will play a pivotal role in enhancing office comfort, creating workenvironments that employees truly enjoy. This is especially crucial as more andmore staff transition from remote work to in-person operations post-pandemic.

Key Market Players

• Daikin North America LLC.
• Emerson Electric Co.
• Camfil AB
• Horiba, Ltd.
• 3M Company
• Aeroqual Limited
• Awair Inc.
• Lennox International Inc.
• Panasonic Corporation
• Siemens AG