Europe Indoor Air Quality (IAQ) Monitoring Solution Market to Reach USD 1,321.4 Million by 2029; Rising Smart Home Constructions to Foster Market Progress

The Europe Indoor Air Quality (IAQ) monitoring solution market size is expected to exhibit strong growth by reaching USD 1,321.4 million by 2029. Fortune Business Insights™ in its report titled “Europe Indoor Air Quality (IAQ) Monitoring Solution Market Size, Share & COVID-19 Impact Analysis, By Type (Fixed Indoor Monitor and Portable Indoor Monitor), By Application (Residential, Commercial, Industrial, Government Buildings, and Others), and Country Forecasts, 2022-2029” observes that the market size stood at USD 779.0 million in 2021 and touched USD 830.6 million in 2022. The market exhibited a CAGR of 6.9% during 2022-2029. Rising smart home constructions and increasing UN frameworks for reducing greenhouse gas emissions are expected to fuel market progress.

Airthings Acquires Airtight to Reduce Waste Generation

Airthings completed the acquisition of Airtight in August 2020 to deliver sensor technology for reducing energy waste in August 2020. This strategy was undertaken to offer an advanced indoor quality monitoring system that is technologically sound, thereby strengthening the company’s position in the market.

Rising Demand for Optimum Air Quality Fostered Industry Growth

This industry was positively impacted during the COVID-19 pandemic due to robust demand for optimum air quality. The alarming spike in COVID-19 infections bolstered the demand for good air quality. Further, manufacturers opted for online retail to enhance their sales and continue operations. Moreover, companies utilized reduced capacities, part-time shifts, and advanced production techniques to enhance their growth prospects. These factors bolstered the Indoor Air Quality (IAQ) monitoring solution industry’s growth during the pandemic.

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Increasing Pollution Levels to Fuel Industry Growth

Indoor Air Quality (IAQ) monitoring solution refers to the air quality around building structures. Increasing air pollution levels globally are likely to fuel the adoption of monitoring solutions. Furthermore, health concerns, ventilation issues, and poor spaces lead to the industry’s progress. Also, rising pollution risks among the geriatric population and children may foster the adoption of IAQ monitoring solutions. Moreover, increasing indoor pollutants are anticipated to foster air monitoring solutions’ adoption. These factors may drive the Europe Indoor Air Quality (IAQ) monitoring solution market growth.

Prominent Players Introduce Novel Products to Bolster their Brand Image

The prominent companies operating in the market announce novel products to elevate their brand image. For example, ENVIRA IOT introduced its novel IAQ device in September 2020. This device displays a transmission risk index by studying environmental conditions. It monitors air quality and produces healthy air. This strategy may enable the company to bolster its brand image and boost sales. Further, major players devise mergers, partnerships, automation, acquisitions, mergers, and research & development to achieve organizational goals and reinforce their stance worldwide.

Notable Industry Development

• August 2021- Envira IoT entered into a partnership with Sinay to expand its presence in France and provide wireless monitoring air quality networks.

List of Key Players Profiled in the Report

• Testo SE & Co. KGaA (Germany)
• Airthings (Norway)
• 3M (U.S.)
• Vaisala (Finland
• Honeywell International (U.S.)
• InsightAir (Bulgaria)
• IOT Factory (Belgium)
• ENVIRA IOT (Spain)
• Aeroqual (New Zealand)
• ROTRONIC AG (Switzerland)

Further Report Findings

• The market in Germany stood at USD 172.5 million in 2021 and is expected to gain a huge portion of the Europe Indoor Air Quality (IAQ) monitoring solution market share in the coming years. Rising government initiatives for limiting adverse health effects may facilitate industry growth.
• Furthermore, the rising adoption of smart care products may foster the industry’s growth.

• In Italy, the rising development of the industrial sector may surge the demand for IAQ monitoring solutions.

Table of Segmentation