According to a new report published by Allied Market Research, titled, Smart Air Purifiers Market by Type, Technique, and End User: Global Opportunity Analysis and Industry Forecast, 2018-2025, the smart air purifiers market accounted for $4,510.0 million in 2017, and is expected to reach $11,403.0 million by 2025, growing at a CAGR of 12.2% from 2018 to 2025. In 2017, Asia-Pacific dominated the global market, in terms of revenue, accounting for more than 34% share of the global market, followed by North America.
A smart air purifier is an upgraded version of the traditional air purifier, which is installed with wireless networks such as Wi-Fi and Bluetooth, and can be operated by using an app on smartphones. These purifiers can be used from distant locations, and can be controlled remotely through smart connectivity. The major benefit of a smart air purifier is that users can track and control the indoor air quality and can change the basic settings through smartphones.
Rise in awareness about the adverse effects of pollution on humans is encouraging various electronics companies to introduce advanced air purifies in the market. In addition, increase in need to remove fine airborne particles and germs from commercial spaces, offices, and homes, including the living room, bedroom, kitchen, and bathroom acts as the key driver of the global market. Furthermore, many countries are observing increase in household air pollution, due to excessive smoke generation through cooking, which has escalated the demand for smart air purifiers, thereby promoting the growth of the market.
The dust collectors segment secured the highest share of 61.7% in the smart air purifier market in 2017, and is expected to grow at a CAGR of 12.4% during the forecast period. In terms of technique, the high-efficiency particulate air (HEPA) segment is expected to contribute the highest market share in the coming years, as these purifiers have extensive demand due to their advance purifying process. The demand for smart air purifiers has been witnessed to increase significantly in the residential and commercial sectors, due to their easily availability in the fast emerging economies. This is attributed to the presence of several local and regional manufacturers in these economies. The residential sector accounted for around 67% share of the global smart air purifiers market.
Asia-Pacific is anticipated to dominate the smart air purifiers market during the forecast period, owing to the presence of key companies and increase in pollution in the Asian countries. Moreover, Europe and North America are expected to witness moderate growth during the forecast period.
Key Findings of the Smart Air Purifiers Market:
- In 2017, the dust collector segment dominated the global smart air purifiers market, in terms of revenue, and is projected to grow at a CAGR of 12.4% during the forecast period.
- The high-efficiency particulate air (HEPA) technology is anticipated to grow at a CAGR of 14.5% during the forecast period.
Asia-Pacific is estimated to exhibit the highest CAGR during the forecast period. Countries such as China, Japan, South Korea, India, and Taiwan are expected to drive the smart air purifiers market in the coming years.
Major players such as Honeywell International Inc., Koninklijke Philips N.V., Sunbeam Products, Inc., Xiaomi Corporation, Blue Air, Coway, Whirlpool Corporation, Americair Corporation, Sharp Corporation, and Dyson Technology Limited have adopted new product launch and business expansion as their key strategies to expand their market foothold.