Global Smart Air Purifier Market Expected to Garner an Impressive CAGR of 10% During the Forecast Period
Demand for Comfort to Boost the Global Smart Air Purifier Market
Global Smart Air Purifier Market to be Spearheaded by the Asia Pacific Region in the Coming years
Smart Air Purifier Market Share, Size, Trends, And Business Opportunity Analysis Report 2019 include historic data, with forecast data to 2023. Smart Air Purifier Industry report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023.
The global smart air purifier market is expected to grow at a rapid pace as was mentioned by Market Research Future (MRFR) in its recently published report. The global market is anticipated to grow at an annual rate of 10% during the forecast period between 2017 and 2023.
The changing consumer lifestyle coupled with the increasing demand for extra comfort are two of the most essential factors driving the growth of the market. The growing and fast-paced industrialization is increasing the level of pollution across the globe. This, in turn, is aiding the growth of the market. However, on the flip side, the high initial costs associated with these products and the consistent maintenance schedules are projected to boost the growth of the market.
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The global smart air purifier market is regionally segmented primarily into four major regions, namely North America, Europe, Asia Pacific, and the Rest of the World (RoW).
The Asia Pacific region holds the highest share of the market as was ascertained through the last conducted study in 2017. This was followed up by regions like North America and Europe. The report published by MRFR stated that the regional market will continue to lead the global smart air purifier standings. The rapid-paced industrialization coupled with the growing pollution level herein is primed to drive the growth of the regional market in Asia Pacific. Add to this, economic development that influences a better and healthy lifestyle also holds a key role in driving the market in this region.
The Asia Pacific market is one of the key regions for smart air purifiers. The regional market is anticipated to grow during the forecast period with the highest annual growth rate. Countries like India, the UAE, Qatar, and China are the major contributors to the growth of the Asia Pacific regional market.
The global smart air purifier market segmented into the following dynamics application, technology, type, and application & sales channel.
By type, the market segments into fume & smoke collectors, dust collectors, and others. Among these, the dust collectors segment holds the highest share of the market. The segment is furthermore expected to garner the highest CAGR over the forecast period. Dust collectors majorly absorbs the entire dust & dirt particles present in the surroundings.
By technology, the market divides into activated carbon filtration, and high-efficiency particulate air filters (HEPA), and others. High-efficiency particulate air segment holds the dominant hand in this market category and is anticipated to grow during the forecast period with the highest CAGR percentage. The filters of HEPA are used for the protection of humans from airborne bacteria as well as other viral organisms.
By application, the market comprises commercial, residential, and others. The residential segment spearheads this market category and is projected to grow at the highest CAGR percentage in the forthcoming years. The growth of the segment can be attributed to the rising demand for comfort across emerging countries. Add to this, the burgeoning population level is also expected to significantly contribute to the overall growth of the segment.
By sales channel, the market divides into aftermarket and OEM. The OEM segment holds the highest share percentage in the global market.
Some of the leading players operating in the global smart air purifier market are Xiaomi (China), Blueair (Romania), Honeywell International Inc. (US), Koninklijke Philips N.V (Netherlands), COWAYCO. LTD. (South Korea), Sharp Electronics Corporation (US), LG Electronics (South Korea), Sunbeam Products, Inc. (US), Alencorp (US), and Whirlpool Corporation (US).
15th May, 2019, at a recent event held in Singapore, Dyson announced the Pure Cool Me air purifier that is made for your personal space. Unlike the previous Pure Cool link model as well as other air purifiers, this product is meant to sit within an arm’s distance of an individual to direct cool and filtered air at them.
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