Smart Air Purification Market Driven by Growing Air Pollution Levels By 2023

Pune, India, November 2018/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Smart Air Purifiers Market.

Market Insights

Market Research Future has published its report on the global smart air purifier market which was witnessed to have generated USD 4,410 Mn in 2017. Air purification has been registering increased demand due to the rise in air pollution in tandem with a number of other factors. The growth of the global smart air purifier market is projected to occur at a CAGR of 11.41% during the forecast period from 2018 to 2023. At this healthy rate, the market is on track to display a market value of USD 8,435.23 Mn by the end of 2023.

Air pollution is at a high level, and this is particularly true in urban areas. Carbon emissions, and increased automotive traffic on the roads in cities all over the world are expected to result in an increase in air pollutants even though changing laws and regulations are working toward reducing carbon emissions. The growth of the market is largely due to increased demand for rapidly emerging economies where there are a large consumer population and high pollution levels due to the swift expansion of urban areas. 

Worsening air quality and rising disposable incomes have increased the demand for smart air purifiers. Smart air purifiers offer several advantages over conventional air purifiers such as the ability to control and track air quality, as well as reminders to change filters and remote access via smartphone apps. Increasing adoption of IoT combined with rising health awareness has resulted in the significant adoption of smart air purifiers, thus facilitating market growth. Emerging economies have been recognized for the market expansion opportunities available due to these regions displaying high pollution levels as well as a rising focus on healthcare.

Smart air purifiers are a costly product and come with maintenance costs as filters have to be replaced or cleaned on a periodically and consistently to maintain prime function. The high costs associated with smart air purifiers are expected to hinder market growth over the assessment period.                          

Market Segmentation

MRFR's analysis of the smart air purification market in its crucial parts segments it on the basis of type, technique, end-user, and region. Types of smart air purifiers have been segmented into fume & smoke collectors, dust collectors, and others. Techniques employed in smart air purifiers have been segmented into thermodynamic sterilization system (TSS), high-efficiency particulate air (HEPA), ionizer purifiers, ultraviolet germicidal irradiation, activated carbon filtration, and others. End-users of smart air purifiers have been segmented into commercial, residential, and others.

Analysis of the various regions included in the global smart air purifier market includes North America, Europe, Asia Pacific, and the Rest of the World.

Regional Analysis

The North American and European market represent key markets with similar growth patterns. A concentration of leading market players headquartered in these regions contributes to their prominence in the global smart air purifier market. The presence of well-developed economies with considerable disposable incomes is expected to support the high demand for air purifiers.

Meanwhile, the Asia Pacific displays optimism and promise with regards to growth in the upcoming forecast period. China and India are prime examples of emerging market which have some of the worlds largest populations as well as some of the highest recorded air pollution levels. Rising disposable income due to rapidly growing economies, combined with a desire to avoid rising health problems due to airborne contaminants are expected to put the APAC market in a contending position on a global scale.

Access Complete Smart Air Purifiers Market Research Report wiht Details of List of Figures, Tables and Table of Contents

Key Players

Noted market players have been profiled in MRFR’s report on the global smart air purifier market along with critical growth strategies. Market players in the report are Sunbeam Products Inc., Americair Corporation, Whirlpool Corporation, Dyson Technology Limited, Honeywell International Inc., Coway, Sharp Corporation, Blue air, Koninklijke Philips, and Xiaomi Corporation.