Description

The global indoor air quality systems market is fragmented, with a healthy mix of traditional HVAC service providers, air purifier manufacturers, and start-ups offering air quality monitoring and air purification solutions. Companies have distinguished their products and services by developing next-generation technologies to tackle the impact of pollutants and disease-causing bacteria and viruses inside the built environment. The competitive environment is intense, with several home appliance and smart home companies venturing into the air quality systems business.

COVID-19 has also thrown a spotlight on the need for better air quality inside buildings. As buildings continue to reopen for operation after lockdowns, facility managers are more concerned than ever about clean air for occupants. Indoor air quality companies are developing new products for different building types and filtration techniques for improved efficiency against microbes.

While the market is still facing challenges regarding awareness, affordability, and adoption in developing countries, it continues to exceed its projected growth: on average, companies posted a 150% jump in year-over-year revenue in 2020. As consumer awareness grows and companies set up regional hubs for manufacturing, the sale of air quality products will improve in more price-sensitive Asia-Pacific countries. Healthcare centers, offices, schools, and universities are some of the top customers in addition to residential.

The Frost Radar™ reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles on each of the companies in the Frost Radar™ based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in an industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned.

Author: Dennis Marcell Victor