New Product Launches the Key Strategy Adopted by the Leading Players to Grow in the Global Indoor Air Quality Monitor Market
The key players in the indoor air quality monitor (IAQM) market focus on various strategies such as new product launches; partnerships, agreements, and collaborations; geographic expansions; and strategic acquisitions to increase their shares in the global indoor air quality monitor market. “New product launches” is the key strategy adopted by the key players to grow in the indoor air quality monitor market. This strategy is majorly adopted by players such as Thermo Fisher Scientific Inc. (U.S.), Siemens AG (Germany), Emerson Electric Co. (U.S.), TSI, Inc. (U.S.), Ingersoll Rand Plc. (Ireland), and Testo AG (Germany), among others. Apart from new product launches, some of the players have also adopted the strategies of partnerships, agreements, and collaborations to strengthen their distribution networks in specific markets, enhance their R&D capabilities, and generate additional demand by sensitizing the end users to sustain their relation with the respective companies.
Thermo Fisher Scientific Inc. holds the leading position in the indoor air quality monitor market, owing to its robust product portfolio of indoor air quality monitors as well as its strong geographical presence. The company primarily focuses on developing technologically advanced indoor and outdoor air quality monitor solutions to maintain its leading position in the market. In regard with this, the company has launched numerous indoor air quality monitor products in the last three years such as Thermo Scientific 253 Plus 10kV isotope ratio mass spectrometer (in December 2015), Thermo Scientific PDM3700 (in March 2015), Thermo Scientific Model 84i Mercury Permeation Source (in March 2013), and Thermo Scientific Particulate Matter Continuous Emissions Monitoring System (PM CEMS) (in October 2013). The company invests heavily in R&D to tap the indoor air quality monitor market. The company invested USD 692.3 million in 2015, USD 691.1 million in 2014, and USD 395.5 million in 2013. This trend indicates the company’s increasing focus toward R&D. Thermo Fisher Scientific has operations in more than 50 countries in North America, APAC, Europe, and Latin America.
Emerson Electric Co. (U.S.) is a diversified manufacturing company that provides innovative solutions to the industrial, commercial, and consumer markets. The company operates through five business segments—process management, industrial automation, network power, climate technologies, and commercial and residential solutions. The company’s climate technologies (offers indoor air quality monitors) and process management (offers Rosemount’s industrial gas analyzers) segments manufacture and distribute air quality monitor products. The company primarily focuses on new product development and enhancements as a key business strategy. In line with this, the company launched products such as the Rosemount CT5100 continuous gas analyzer and Life Cycle Climate Performance (LCCP) Online Calculator in June 2016 and April 2015, respectively. It also focuses on strategic acquisitions for growth in the global indoor air quality monitor market. In December 2014, the company acquired Cascade Technologies Ltd. (U.K.), a manufacturer of QCL technology-based gas analyzers. Emerson Electric intends to focus more on R&D to differentiate its products in the indoor air quality monitor market. It invested around USD 506.0 Million in 2015, USD 541.0 Million in 2014, and USD 576.0 Million by 2013 in R&D. The company has a strong presence in more than 150 countries in North and Latin America, Europe, APAC, the Middle East, and Africa.
Related Reports:
Indoor Air Quality Monitor Market by Product (Fixed, and Portable Indoor Monitor), Pollutant Type (Chemical, Physical, and Biological), End–User Application (Government Buildings, Industrial, Commercial, Residential) - Global Forecast to 2022
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