Market Research Report
Portable UV Sanitizing Boxes Market Size, Share & Trends Analysis Report By Application (Residential, Commercial), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2020 - 2027
|Published by||Grand View Research, Inc.||Product code||948027|
|Published||Content info||80 Pages
Delivery time: 2-3 business days
|Portable UV Sanitizing Boxes Market Size, Share & Trends Analysis Report By Application (Residential, Commercial), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2020 - 2027|
|Published: June 17, 2020||Content info: 80 Pages||
Portable UV Sanitizing Boxes Market Growth & Trends
The global portable UV sanitizing boxes market size is anticipated to reach USD 305.6 million by 2027, expanding at a CAGR of 15.4%, according to a new report by Grand View Research, Inc. Increasing rate of infectious diseases in hospitals, low power consumption, and ease of portability for cleaning small objects in home and commercial space is driving the market. Growing awareness among consumers regarding cleaning of smartphone, wallets, keychains, and watches to prevent transmission of disease is acting as a major driver for the growth of the market.
As per Google Trends, search for UV phone sanitizers have hit breakout thresholds on Google, growing by more than 5,000% in the first quarter of 2020 owing to the recent outbreak of COVID-19. Moreover, PhoneSoap LLC had witnessed a growth in revenue by 20 times compared to revenue generated in 2019 for March. Traffic on the company's website has increased by 3,000%, resulting in most of the UV based product of the company to be out of stock. These aforementioned factors are estimated to boost the demand over the forecasted period.
As per research conducted by tech care company Asurion in 2019, Americans check their phone 96 times a day around once in every 10 minutes. There is rise in 20.0% in daily check compared to usage in 2017. As per report published by GERMS, a median of 17,032 bacterial 16S rRNA genes were found per phone of high school student. Moreover, as per scientist at the University of Arizona found that cell phones carry 10 times more bacteria than most toilet seats. These factors are estimated to boost the demand for portable UV sanitizing boxes among consumers.
In terms of application,the residential segment is estimated to be the largest and fastest growing segment with a CAGR of 15.8% from 2020 to 2027.Rising awareness among consumers pertaining to number of infectious bacteria's present on the daily used objects is acting as a major driver for increasing adoption of portable UV sanitizing boxes. To gain market share companies in the market are introducing new products. For instance, in April 2020, Totallee, launched UV phone sanitizer with features such as killing of germs and bacteria via UVB and UVC rays, dual bulb for maximum cleaning, along with charging facility. The box is not only applicable for cleaning phone but also can be used forkeys, wallets, and AirPods.
Offline distribution channel dominated the market with revenue-based share of 30.7% in 2019. Brick and mortar is the most preferred distribution channel due to provision of detail instructions about usability by the product specialists. Many consumers in the market prefer purchasing form the stores to find the right fit as per their need and get right product.
North America dominated the market with a revenue-based market share of 40.5% in 2019.Demand in the region is high as consumers in the region are more aware and are willing to spend on innovative and value-added products. Higher expenditure power of the healthcare segment is increasingly adopting product to reduce the number of hospital-acquired infections.
Portable UV Sanitizing Boxes Market Report Highlights
The residential segment is expected to reach USD 198.7 million by 2027, expanding at a CAGR of 15.8% from 2020 to 2027
Online distribution channel was valued at USD 29.8 million in 2019 and is expected to reach USD 100.4 million by 2027
Asia Pacific is expected to witness substantial growth over the forecast period with a revenue based CAGR of 16.8% from 2020 to 2027.