PUBLISHER: Allied Market Research | PRODUCT CODE: 1365594
PUBLISHER: Allied Market Research | PRODUCT CODE: 1365594
According to a new report published by Allied Market Research, titled, "Smart Air Purifiers Market," The smart air purifiers market was valued at $5.5 billion in 2020, and is estimated to reach $17.7 billion by 2032, growing at a CAGR of 10.1% from 2023 to 2032.
Smart air purifier is a modernized version of conventional air purifier that includes smart technology and connecting features. To remotely monitor and manage air quality, it makes use of built-in sensor, Wi-Fi or Bluetooth connectivity and mobile applications.
Rapid urbanization has led to a rise in construction activity, which has led to an increase in air pollution levels in nations such as India, China, Vietnam, Brazil, and Russia. Additionally, dangerous pollutants including carbon monoxide, nitrogen oxides, sulfur oxides, and volatile organic compounds (VOCs), which are created by industries and have a negative impact on human health, are harming metropolitan areas. For instance, statistics from the Indian CPCB (Central Pollution Control Board) exhibit that industrial emissions account for 18.6% of the air pollution in Delhi. These elements have driven individuals and organizations to look for strategies to lessen the effects of both indoor and outdoor air pollution. During the forecast period, this is anticipated to fuel market expansion for smart air purifiers.
Moreover, the majority of intelligent air purifiers in the market nowadays produce ozone, which has a high level of reactivity. When breathed in, ozone causes chest pain, coughing, throat infections, and lung infections. Additionally, it weakens the body's immune system, which makes it less able to fight off infections. Therefore, regulatory agencies have implemented strict limits for the usage of smart air purifiers as a result of these unwanted effects. Additionally, a lot of regional companies in the market for smart air purifiers do not adhere to production standards, which leads to ineffective air purifiers. Thus, each of these reasons inhibits the market for smart air purifiers from expanding.
Contrarily, owing to rise in population and increase in construction activities has enforced people and organizations to seek for means to mitigate the impact of indoor and outdoor pollution on humans, which is expected to boost the market during the forecast period. A number of players are expanding their business globally, owing to an increased customer base, enhanced effective operations, and developed product portfolios. This is anticipated to fuel the growth of the global smart air purifiers market during the forecast period.
The smart air purifiers market is segmented on the basis of type, technique, end user, and region. By type, the market is segmented into dust collectors, fume & smoke collectors, and others. In 2020, the fume & smoke collector segment accounted for the largest share of the overall smart air purifiers market.
On the basis of technique, the market is categorized into high-efficiency particulate air (HEPA), thermodynamic sterilization system (TSS), ultraviolet germicidal irradiation, ionizer purifiers, activated carbon filtration, and others. The high-efficiency particulate air (HEPA) segment held the largest market share of the smart air purifiers market in 2020. By end user, the smart air purifiers market is segmented in residential, commercial, and others. The residential segment held the largest market share in 2020. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2020 and Asia-Pacific is expected to register the highest growth in the market during the forecast period
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
In 2022, North America was the key shareholder, and is anticipated to secure a leading position during the forecast period.
COMPETITION ANALYSIS
The key players profiled in the smart air purifier market report include, Coway Co., Ltd., Dyson Technology Limited, Honeywell International Inc., Levoit, LG Electronics Inc., Xiaomi Corporation, Koninklijke Philips N.V., Sharp Corporation, Unilever PLC (Blueair AB), and Winix Inc.
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