The global Air Quality Monitoring System Market size is anticipated to reach USD 6.5 billion until 2025. It is anticipated to register growth with 6.8% CAGR during the forecasted period, 2019 to 2025. This growth can be associated with rising health issues arising owing to emission of toxic gases and chemicals by vehicles and industries.
The chemical segment dominated the global market due to the rising vehicle emissions across the globe. Also, the physical pollutants segment is projected to register the highest CAGR during the forecasted years due to awareness about disease caused by pollution like asthma, cardiovascular and respiratory diseases coupled with environmental and health effects on particulate matter.
In 2018, the component segment of hardware held the largest share across the global market on account of the emergence of various designs in these products along with its real-time applications. On the other hand, the software segment is projected to register the fastest CAGR during the forecasted years owing to the surging need for integrating systems in single software like traffic management, environmental monitoring, and parking management.
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North America dominated the global market in 2018 due to the increasing intensity of acid rains across this region which has caused around 90% lakes to be acidic in nature. Asia Pacific is projected to witness the highest CAGR in the upcoming years on account of the rising number of cardiovascular and respiratory diseases coupled with the reducing AQI across several cities.
The air quality monitoring system market includes key players such as General Electric Company; Emerson Electric Co.; 3M; HORIBA, Ltd.; Siemens AG; and Merck. These players are engaged in product development and innovation to gain a competitive advantage over other players. Also, several marketing strategies like collaboration, acquisitions, capacity expansion, and mergers are being carried out by these players to widen their product reach.
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