In a recent published report, Kenneth Research has updated the market report for North America Smart Residential Indoor Air Quality Monitoring Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for North America Smart Residential Indoor Air Quality Monitoring Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
North America residential smart indoor air quality monitoring device market reached USD 127.7 Million in 2016. Moreover, the market is expected to flourish at a CAGR of 9.7% and is likely to garner USD 260.1 Million by the end of 2024. Increasing concerns regarding indoor air quality is soaring the demand for smart indoor air quality monitoring device. Apart from this, growing market of smart environmental technologies is creating a conducive environment for the growth of smart indoor air quality monitoring device market.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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The usage of residential environmental technologies is increasing in North America on the account of rising awareness over the health hazards caused by indoor air pollution. Further, deteriorating indoor air quality is expected to positively impact the growth of the North America residential smart indoor air quality monitoring device market over the forecast period.
Further, the market of North America residential smart indoor air quality monitoring device is anticipated to achieve a Y-o-Y growth rate of 12.8% in 2024 as compared to the previous year. Further, alarming rise in incidence of air-borne allergies and diseases is making the headway for the growth of residential smart indoor air quality monitoring device market.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
U.S. residential smart indoor air quality monitoring device market is expected to expand at a significant CAGR of 10.0% during the period i.e. 2017-2024. The market of residential smart indoor air quality monitoring device in U.S. is projected to garner USD 228.4 Million by the end of 2024 from USD 109.1 Million in 2016.
Canada residential smart indoor air quality monitoring device accounted for USD 18.6 Million in 2016. Further, Canada residential smart indoor air quality monitoring device market is expected to grow at a CAGR of 7.2% over the forecast period. Moreover, the market of residential smart indoor air quality monitoring device in Canada is expected to achieve Y-o-Y growth rate of 10.1% in 2024 as compared to previous year
Business Questions answer by the report
- How will the market drivers, restraints and opportunities affect the market dynamics?
- What will be the market size in terms of value and volume and market statistics with detailed classification?
- Which segment dominates the market or region and one will be the fastest growing and why?
- A comprehensive survey of the competitive landscape and the market participant players
- Analysis of strategy adopted by the key player and their impact on other players.
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“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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