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The smart air purifier market share is expected to reach an estimated USD 3.97 billion by 2026 at an accelerating CAGR of 9.28%.
This smart air purifier market research report extensively covers smart air purifier market segmentation by:
The smart air purifier market report also offers information on several market vendors, including AllerAir Industries Inc., Blue Star Ltd., Coway Co. Ltd., Dyson Technology India Pvt. Ltd., Guardian Technologies LLC, Honeywell International Inc., IQAir AG, Koninklijke Philips NV, LG Electronics Inc., Rabbit Air, Radic8 Pte Ltd., Samsung Electronics Co. Ltd., Shapoorji Pallonji And Co. Pvt. Ltd., Sharp Corp., Silicon Valley Air Expert Inc., Smart Air, Unilever PLC, Winix America Inc., Xiaomi Inc., and Acer Inc. among others.
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Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The increasing demand for home automation products is notably driving the smart air purifier market growth, although factors such as the availability of substitutes may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the smart air purifier industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Smart Air Purifier Market Driver
One of the key factors driving growth in the smart air purifier market is the increasing demand for home automation products. An increasing number of consumers prefer convenient and comfortable lifestyles, which is driving the demand for home automation appliances. Home automation systems use the Internet of Things (IoT), which helps monitor and control home appliances remotely. Smart air purifiers have advanced technology and can be operated with a certain level of automation. They also help monitor and reduce the energy consumption of general lighting controls and heating, ventilation, and air conditioning (HVAC) through automated control. Thus, automation in smart air purifiers plays a major role in reducing energy consumption in residential buildings. Smart air purifiers are gaining popularity as consumers are striving for luxury and household convenience. Some of these smart air purifiers are embedded with artificial intelligence technology to predict consumer preferences accurately based on past data. Hence, the global smart air purifier market will grow at a significant rate during the forecast period.
Key Smart Air Purifier Market Trend
The increasing adoption in healthcare facilities is a smart air purifier market trend that is expected to have a positive impact in the coming years. Air pollution is one of the major causes of airborne infectious diseases. In any healthcare setting, factors such as air sterility and effective cleaning are very important to reduce the proximity of a patient's health getting deteriorated, particularly for patients with weak immune systems. Thus, it is very important that the indoor air of hospitals and healthcare facilities be free of contaminants. Hospitals and other healthcare facility providers use smart air purifiers to combat the spread of airborne infectious diseases. In these scenarios, smart air purifiers having HEPA filtration systems are commonly used. Using air purifiers in addition to heating, ventilation, and air conditioning systems in hospitals may be an effective way to reduce the microbial load in the air and on surfaces, and thus hospital-acquired infections. Therefore, the increasing adoption of smart air purifiers in healthcare settings has been identified as a positive trend for the market.
Key Smart Air Purifier Market Challenge
The availability of substitutes will be a major challenge for the smart air purifier market during the forecast period. Smart air purifiers are advanced versions of conventional air purifiers, which have air filters to filter out impurities from polluted air. As in conventional air purifiers, filters in smart air purifiers also need to be changed at regular intervals for better performance and efficiency. Therefore, the global smart air purifier market experiences a high threat of substitution from conventional air purifiers. Moreover, smart air purifiers are more expensive than conventional air purifiers because of their advanced features, which limit the mass consumer segment from purchasing the product. The product is priced higher not only in developed countries but also in developing countries, which proves to be beyond the reach of the middle-class and the lower-middle-class customer segments. Hence, the high availability of substitutes may hinder the market's growth.
This smart air purifier market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global smart air purifier market as a part of the global household appliances market within the global household durables industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the smart air purifier market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the smart air purifier market encompasses successful business strategies deployed by the key vendors. The smart air purifier market is fragmented and the vendors are deploying growth strategies such as focusing on R & D and branding to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The smart air purifier market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the smart air purifier market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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39% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for smart air purifier in APAC. Market growth in this region will be faster than the growth of the market in the South American and MEA regions.
The rise in the introduction of global brands and products in the market and the increase in the adoption of premium and technologically advanced air purifiers will facilitate the smart air purifier market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The demand for air purifiers has surged since the outbreak of COVID-19 in early 2020. Consumers are using air purifiers with HEPA technologies to reduce the impact and spread of COVID-19 in hospitals, educational institutions, and households. Support from online retailers and the government will drive the adoption rates of technology-driven appliances, like smart air purifiers in the country. These factors will drive the growth of the regional market during the forecast period.
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The smart air purifier market share growth by the dust collectors segment will be significant during the forecast period. Dust collector smart air purifiers with high efficiency particulate air (HEPA) filters collect allergens such as pollens and mold spores before they meet people, which increases their demand. Awareness of dust-related diseases also encourages people to adopt smart air purifiers for residential and commercial purposes. The demand for these products is significantly high in China, Brazil, and India, which are highly affected by indoor air pollution. In India, cities such as Delhi and Mumbai are the highest contributors to air pollution.
This report provides an accurate prediction of the contribution of all the segments to the growth of the smart air purifier market size and actionable market insights on the post-COVID-19 impact on each segment.
Smart Air Purifier Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.28% |
Market growth 2022-2026 |
$3.97 billion |
Market structure |
Fragmented |
YoY growth (%) |
8.5 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 39% |
Key consumer countries |
US, Canada, China, Japan, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
AllerAir Industries Inc., Blue Star Ltd., Coway Co. Ltd., Dyson Technology India Pvt. Ltd., Guardian Technologies LLC, Honeywell International Inc., IQAir AG, Koninklijke Philips NV, LG Electronics Inc., Rabbit Air, Radic8 Pte Ltd., Samsung Electronics Co. Ltd., Shapoorji Pallonji And Co. Pvt. Ltd., Sharp Corp., Silicon Valley Air Expert Inc., Smart Air, Unilever PLC, Winix America Inc., Xiaomi Inc., and Acer Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by Technology
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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