Smart Air Purifier Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Smart Air Purifier Market Research Report, Type , Technology, Application and Region - Forecast till 2030” the market size is projected to be worth USD 12.34 Billion by 2028, registering a CAGR of 12.52% during the forecast period (2022 - 2030), The market was valued at USD 5.47 billion in 2020.
Eminent players profiled in the global smart air purifier industry report include:
- Honeywell International Inc(US)
- Xiaomi (China)
- LG Electronics (South Korea)
- Blueair (Romania)
- COWAYCO.LTD (South Korea)
- Koninklijke Philips N.V (Netherlands)
- Sunbeam Products Inc (US).
- Sharp Electronics Corporation (US).
- Alencorp (US)
- Whirlpool Corporation (US).
The global smart air purifier market is fragmented and also competitive for the presence of an array of international domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, new product launches, and more.
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The COVID-19 pandemic has impacted the smart air purifier market growth for lockdown measures in different countries and also delays in production and manufacturing of smart air purifier. Supply chain disruptions, economic situations, fluctuations in demand share, as well as long-term immediate effect of the COVID-19 pandemic possessed a negative effect on this market growth. The pandemic has slowed down economic activity and pushed the economy into a steep recession. With the roots being in China, the supply chains in the world are facing shutdown and unprecedented disruption. But following the relaxation of lockdowns, the market is likely to get back into normalcy soon.
On the contrary, smart air purifier companies are leaving no stone unturned to curtail the spread of the deadly virus. A Swiss company, IQAir that specializes in technology solutions to protect people from airborne pollutants is focusing to limit the spread of the disease in New Delhi by increasing the availability of smart air purifiers in hospitals that treat COVID-19 patients.
Leading Swedish flatpack giant, IKEA has launched two new Starkvind devices- a side table model and a floor-standalone air purifier.
Smart Purifier Market Drivers/Smart Purifier Market Trends
Growing Awareness about Adverse Effects of Pollution on Health to Boost Market Growth
The increasing awareness about adverse effects of pollution on health is motivating electronics companies in developing advanced air purifiers that will boost the smart air purifier market value. Besides, people have become highly technology oriented and tend to have heavy investments on high end products like smart purifiers for the rise in per capita income of the population in emerging economies.
Rising Prevalence of Chronic Airborne Diseases to offer Robust Opportunities
The rising prevalence of chronic ailments across the globe may offer robust opportunities for the market over the forecast period. The smart air purifiers help in cleaning the air via removing airborne particles and droplets that may contain microorganisms. It is done by passing air through a series of filters which trap the contaminants and return clean air to the room.
Low Awareness to act as Market Restraint
The low awareness about smart air purifiers and premium installation charges may act as market restraints over the forecast period.
High Initial Costs to act as Market Challenge
The high initial costs coupled with frequent maintenance schedules may act as market challenge over the forecast period.
The smart air purifier market has been birfurcated based on type, technology, application, and sales channel.
By type, the dust collectors will lead the market over the forecast period. They majorly absorb the overall dirt particles and overall dust in the surroundings.
By technology, the HEPA segment will dominate the market over the forecast period at a high CAGR. HEPA filters are used to protect humans from viral organisms and airborne bacteria. They are mostly used in hospitals.
By application, the residential segment will spearhead the market over the forecast period at a high CAGR. Increasing need for comfort in emerging countries is adding market growth. Besides, the increasing pollution levels are also adding to the growth of the segment.
By sales channel, the OEM will have the lions share in the market over the forecast period.
APAC to Command Smart Air Purifier Market
The APAC region will command the market over the forecast period. The rapid growing industrialization, increasing pollution levels, economic development that leads to better healthy lifestyle, and growing demand in India, China, UAE, and Qatar, the government of India and China have undertaken several measures such as graded air quality rating response system and emission reducing converters for automobiles are adding to the global smart air purifier market share in the region.
Segmentation of Market covered in the research:
Smart Air Purifier Market by Type (Dust Collectors, Fume Smoke Collectors, Others), Technology (HEPA, Activated Carbon Filtration, and Others), Application (Residential, Commercial, and Others), Sales Channel (OEM and Aftermarket) and Region - Forecast till 2028
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