The global VOC gas monitor market is expected to post a CAGR of nearly 7% during the period 2018-2022, according to the latest market research report by Technavio.
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Technavio forecasts the global VOC gas monitor market to post a CAGR of nearly 7% by 2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the growth in the water and wastewater treatment industry. The economic and social structure of the society is transforming from an agrarian-based society to an industrial society. Industrialization has led to an increase in the standard of living and production of good, which, in turn, has led to a rise in the consumption of water.
This market research report on the global VOC gas monitor market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing need for interoperability as one of the key emerging trends in the global VOC gas monitor market:
Global VOC gas monitor market: Increasing need for interoperability
The T&M market is a constantly evolving market and equipments are designed to work with other products. Customers are facing an issue that products are not compatible with new products and buyers are supposed to use the same company products in the future as well. This interoperability feature can be applied to all the diverse products like wireless VOC gas monitoring equipment, video monitors, home networking or automated products, smoke alarms, and home gateways. It can be also applied to some similar products like switches and routers.
“This interoperability across various end-users creates an issue for vendors, they are trying to find a solution for this. As a solution, manufacturers are trying to manufacture a new type of equipment that can be worked with any other product in the future. To ensure that the product is compatible with other products, vendors are conducting various interoperability tests. As the research in this field is becoming strong, the interoperability feature will become a reality and vendors will start to manufacture products based on specific standards,” says a senior analyst at Technavio for research on automation.
Global VOC gas monitor market: Segmentation analysis
This market research report segments the global VOC gas monitor market by end-user (paints and coatings, chemical, petroleum, and pharmaceuticals) and geographical regions (APAC, EMEA, and the Americas).
The paints and coatings segment held the largest market share in 2017, accounting for nearly 29% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of over 45%. This region is expected to dominate the market through 2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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