Restraints, Challenges, and Opportunities in the Air Quality Monitoring Market
What do we need to know about this industry?
In our previous article, we explored the key market drivers that support the growth of the air quality monitoring market. Here, we will examine some of the restraints and challenges, as well as the opportunities, of the market PiCO Home is in.
So, what are the key market restraints?
1. High product costs
A typical air quality monitoring sensor assesses both indoor and outdoor air quality parameters, such as temperature, particulate matters, presence of gaseous compounds, humidity, and more. Detection of these requires the use of advanced technologies, which can be high-priced and further increased by device miniaturization.
The installation of a typical air quality monitoring system can costs up to USD$200,000, not including the maintenance cost. Industry-standard air quality device can cost thousands of dollars, while the cheap-end ones are not reliable in terms of accuracy and reliability.
2. Technical limitations
Many traditional air quality monitoring sensors have low data accuracy, reliability, privacy issues, the requirement for regular calibration, high energy consumption, and not durable. Most monitoring systems are limited in a specific area and do not measure the data in real-time, making data acquisition, data transfer, and data storage limited.
How about key challenges?
1. Slow implementation of air pollution control reforms worldwide
High purchase and maintenance cost associated with air quality monitors result in the limited implementation of environmental protection programs worldwide. The US, for example, regulates air quality monitoring technologies, which increased costs and restricts the adaption of environment protection initiatives among industries and users.
China and India, the world’s top two polluters, have been slow to implement stringent air pollution controls and the lack of a robust education system to train skilled professionals to tackle air pollution have hampered the implementation of effective pollution monitoring and control reforms. Thankfully, with recent technological advancements and reduced average costs, the world is increasingly focusing on effective air pollution monitoring.
Finally, the opportunities from these?
1. Emerging markets with high growth
The BRIC countries are expected to offer significant growth opportunities during the forecast period due to raising public awareness, increased customer spending, and greater government investment.
With the economic expansion of emerging countries and their rising GDP per capita, various governments are increasingly adopting and modernizing their air pollution monitoring and control to provide better living standards for a larger population. This can also help to reduce pollution levels and limit air pollution-related healthcare risks.
2. Tech advancements in air pollution monitoring
During the last two decades, the global focus on effective air pollution monitoring has been on the rise. Growing public awareness and rising demand for advanced air quality monitoring devices have led to increased focus for governments and private companies to develop effective, accurate, affordable air monitors.
Real-time monitors and remote-sensing devices, including the development and commercialization, offer significant growth opportunities in this industry.
So what does this all mean for PiCO Home?
We are proud to be part of this movement to create a great air quality monitoring product that is affordable and easily accessible to the market. It is easy to use, durable, and tracks the air around you in real-time.
We want to create a healthier life and empower users about the dangers of polluted air. This product fulfils the initial requirement as outlined above and sought to address the key challenges facing the globe.
Curious on how to keep the air clean so to avoid all the respiratory complication? Use PiCO Home now, to keep yourself and your family safe!