Pune, India, Feb. 02, 2021 (GLOBE NEWSWIRE) — The Europe indoor air quality (IAQ) monitoring solution market size is estimated to showcase potential growth owing to the increasing smart home constructions in the region, observes Fortune Business Insights™ in its report, titled, “ Indoor Air Quality (IAQ) Monitoring Solution Market Size, Share & COVID-19 Impact Analysis, By Type (Fixed and Portable Indoor Monitor), By Application (Residential, Commercial, Industrial, Government Buildings, Others) and Country Forecasts, 2020-2027. ” As per our findings, the Europe IAQ monitoring solution market size reached USD 697.1 million in 2019 and is anticipated to reach USD 1,225.8 million by 2027, exhibiting a CAGR of 7.3% during the forecast period.
Demand-supply Gap amid COVID-19 to Be Challenging for Enterprises
The COVID-19 pandemic has brought new opportunities for the Europe indoor air quality (IAQ) monitoring solution market owing to the rapidly increasing awareness of air-borne viruses amid the outbreak. However, the huge gap between the surging demand and the low supply, especially after the recent shutdowns of production units, is growing to become a major challenge for key players. At Fortune Business Insights, we are working on such challenges by closely studying the market scenarios and analyzing the data from various sources to develop productive insights.
Highlights of the Report:
While making the Europe indoor air quality (IAQ) monitoring solution market report, we segmented the market on the basis of product, type, consumption, distribution channel, and region. Based on the segmentation, we made a list of companies and conducted a detailed analysis of their financial positions, product portfolios, and growth strategies. Our next step included the study of core competencies of key players and their market share to anticipate the degree of competition. The bottom-up procedure was conducted to arrive at the overall size of the market.
To get to know more about the short-term and long-term impact of COVID-19 on this Europe indoor air quality (IAQ) monitoring solution market,
Drivers & Restraints-
Increasing Smart Home Construction across Europe to Drive Growth
Owing to technological advancements, such as the Internet of Things (IoT), the smart home industry is getting more accessible on a wide scale. For instance, as per an article published on Forbes regarding the latest trends in the smart home space, the Europe indoor air quality (IAQ) monitoring solution market for the same is estimated to reach USD 174 billion by 2025. In reflection of this trend, the smart home market in Europe is also flourishing with major countries including the U.K., Germany, Sweden, Italy, France, Russia, and others showcasing an increasing adoption of smart home construction. This is expected to drive the growth of the Europe indoor air quality monitoring solution market. However, the high cost associated with these devices is expected to limit market growth for IAQ monitoring solutions.
Fixed Indoor Monitors to Become Leading Segment; Increasing Air Quality Monitoring Stations to Aid Growth
Based on type, the fixed indoor monitors segment is projected to gain the highest share in the projected timeline. Increasing installation of air quality monitoring (AQM) stations across commercial and industrial facilities in the region is one of the major factors responsible for segment growth. By application, the industrial segment generated 16.4% in terms of share in 2019.
Launching Innovative Products to Help Key Players Gain Dominance
The Europe IAQ monitoring solution market comprises numerous electronic manufacturers focused on finding new opportunities in the industry. They are focusing on launching innovative products in order to gain a competitive advantage. For instance, in November 2020, ENVIRA IOT developed an indoor air quality monitoring system especially for hotels, restaurants, and cafes. With this launch, the company aims to prevent indoor polluted air and minimize the spread of hazardous viruses.
- In November 2020, InsightAir announced plans to implement cutting-edge air quality monitoring sensors and air purifiers in hospitals amid the COVID-19 pandemic. These monitoring sensors and purifiers are installed in operation theaters as well as in doctor cabins.
- In September 2020, ENVIRA IOT launched its new IAQ device, which indicates a virus transmission risk index based on the environmental conditions. The device monitors air quality and provides healthy indoor air quality.
A List of Key Manufacturers Operating In the Europe Indoor Air Quality (IAQ) Monitoring Solution Market Report:
- Testo SE & Co. KGaA (Germany)
- Airthings (Norway)
- 3M (U.S.)
- Vaisala (Finland)
- Honeywell International (U.S.)
- GRAYWOLF SENSING SOLUTIONS, LLC. (Ireland)
- E Instruments International, LLC. (U.S.)
- Renesas Electronics Europe GmbH (Germany)
- InsightAir (Bulgaria)
- IOT Factory (Belgium)
- ENVIRA IOT (Spain)
- Aeroqual (New Zealand)
- Fluke Corporation (U.S.)
- ROTRONIC AG (Switzerland)
- TSI (U.S.)
- Awair, Inc. (U.S.)
- Dwyer Instruments, Inc. (U.S.)
- Extech (U.S.)
- Critical Environment Technologies Canada Inc. (Canada)
- Emerson Electric Co. (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
Quick Buy – Europe Indoor Air Quality (IAQ) Monitoring Solution Market:
Major Table Of Content:
- Definition, By Segment
- Research Approach
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Europe Indoor Air Quality (IAQ) Monitoring Solution Market Share Analysis and Matrix, 2019
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in the public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Gross Margin
- Geographical Share
- Business Segment Share
- Recent Developments
- Primary Interview Responses
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