PRESS RELEASE
LONDON (BUSINESS WIRE), October 5, 2020 -- The global indoor air quality solutions market size is poised to grow by USD 9.54 billion during 2020-2024, progressing at a CAGR of over 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. It also provides insight into the market impact and new opportunities created due to the COVID-19 pandemic.
The #Global Indoor Air Quality Solutions Market will grow by USD 9.54 bn during 2020-2024, according to @Technavio.
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The rising demand for smart air quality monitoring equipment is one of the key factors driving indoor air quality solutions market growth. A rise in the number of indoor pollutants across many regions has propelled the demand for indoor air quality management products in residential and commercial buildings. The growing importance of indoor air quality owing to rapid industrialization is likely to fuel the demand for indoor air quality products.
Report Highlights:
- The major indoor air quality solutions market growth came from indoor air quality solutions equipment segment. The global indoor air quality equipment market is expected to record rapid growth during the forecast period, propelled by the high demand for smart and low-cost air monitoring sensors. Moreover, a few of the vendors are also launching smart variants of indoor air quality solutions;
- APAC will offer several growth opportunities to market vendors during the forecast period. The rising pollution in countries such as Singapore and Malaysia, the advent of technologically advanced indoor air quality solutions, and the growing presence of global companies in the region will significantly influence indoor air quality solutions market growth in this region;
- The global indoor air quality solutions market is fragmented. 3M Co., Aeroqual Ltd., Camfil AB, Daikin Industries Ltd., Ingersoll-Rand Plc, Lennox International Inc., Panasonic Corp., Trion IAQ, TSI Inc., and United Technologies Corp. are some of the major market participants. To help clients improve their market position, this indoor air quality solutions market forecast report provides a detailed analysis of the market leaders;
- As the business impact of COVID-19 spreads, the global indoor air quality solutions market 2020-2024 is expected to have Negative and Inferior. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Rising Demand for Portable Air Quality Monitors will be a Key Market Trend
The rising demand for portable air quality monitors will also fuel indoor air quality solutions market growth. The development of advanced technologies has enabled the accurate monitoring of tanks, which helps in improving efficiency in deliveries. Such factors will propel the indoor air quality solutions market growth.
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