Pune, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Smart Air Purifiers Market Size & Growth Analysis:
“The Smart Air Purifier Market is on a remarkable growth trajectory, driven by heightened awareness of air quality and technological advancements in air purification. Valued at USD 6.97 billion in 2023, the market is projected to reach USD 17.73 billion by 2032, reflecting a substantial compound annual growth rate (CAGR) of 10.97% over the forecast period from 2024 to 2032. This expansion underscores a growing recognition of the importance of clean air for both health and productivity.”
Technological Innovations and Investments
The development of smart air purifiers is associated with the emergence of relatively sophisticated technologies. Currently, the key manufacturers of such devices are investing significant financial and human resources in research and development to improve the overall efficiency and performance of existing products. In 2023, one of the major players, Dyson, spent around USD 2 billion. One of the most important outcomes of this investment is the development of HEPA filters that can capture 99.97% of particles of 0.3 microns. The purpose of this improvement is to achieve a better fit with the demands of general population.
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Major Players Analysis Listed in this Report are:
- Coway Co., Ltd
- Dyson Technology Limited
- Honeywell International Inc
- Levoit
- LG Electronics Inc
- Xiaomi Corporation
- Koninklijke Philips N.V
- Sharp Corporation
- Unilever PLC
- Winix Inc.
- Other Players
Smart Air Purifiers Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 6.97 Billion |
| Market Size by 2032 | USD 17.73 Billion |
| CAGR | CAGR 10.97% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Product Type Analysis
Dust collectors were the most popular category of devices in the smart air purifier market in 2023. Its market share was over 38%, which was quite impressive. Such devices are appreciated for their ability to remove all types of airborne particles and allergens. In addition, dust collectors can be used in the household and industrial applications. Owing to their sophisticated filter systems and the use of HEPA filters, these devices have always been popular and are continuing to experience the growing demand. It is also important to point out that people’s concerns about the air quality and the state of the respiratory system are also the reasons. Therefore, one can say that dust collectors were the most popular category of air purifiers.
Fume and smoke collectors, in their turn, were the fastest-growing category of devices. It should be noted that the interest in this group is triggered by the growing problem of air pollution. In many industries, chemical fumes and smokes can be harmful to employees, and in this case, efficient fume and smoke collectors are required by law. It is the same when people are cooking or smoking in their houses. They are also quite effective in eliminating the household products’ VOCs. Further research will be required, to estimate the industry’s current state of the industry and the prospects of these devices.
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Smart Air Purifiers Market Key Segmentation:
By Product Type
- Dust Collectors
- Fume and Smoke Collectors
- Others
By Technique
- Activated Carbon Filtration
- High-efficiency Particulate Air (HEPA)
- Thermodynamic Sterilization System (TSS)
- Ultraviolet Germicidal Irradiation
- Ionizer Purifiers
- Others
By End-User
- Residential
- Commercial
- Others
Techniques and Emerging Trends
HEPA filters are the most popular air technology on the market today. They had a significant market share, which accounted for more than 36% as of 2023. It happens because this type of filtration is instrumental in removing airborne allergens, dust, and other harmful substances. However, in perspective, the market will see a rise of the usage of ultraviolet germicidal irradiation as a new technology, which will develop with the highest speed. It allows not only filtering the air but also deactivating bacteria and viruses, which can also contribute to further pollution prevention.
Regional Market Dynamics
The smart air purifier market in 2023 was led by North America, accounting for a market share of over 35%. The dominance can be attributed to the stringent clean air regulations and high consumer awareness concerning clean air in the region. The presence of advanced infrastructure, the significant number of smart home users, and the growing incidences of respiratory diseases in the United States also serve to support the dominance. Household dust, fumes from cleaning agents, and pesticides are also major sources of impurities in homes in the U.S.
Smart air purifiers are, on the other hand, advancing fast in Asia as the fastest-growing market. The region is the most populous and has active industrialization and rapid urbanization, as is the case in India and China. The increasing focus and steps by the Chinese to have clean air, improved living conditions, and health of the booming middle-class with increased disposable incomes also support the market growth. The adoption of household technology aids across Asian countries is also assisting the market, and the continuous invention and innovation of air purifiers by companies also promote the market across Asia.
Recent Market Developments
- In July 2024, Dyson launched the Purifier Cool Formaldehyde TP09, featuring advanced filtration technology to capture and destroy formaldehyde, along with a new sensor for real-time air quality monitoring. The device integrates with Dyson's app for remote control and monitoring, showcasing a commitment to innovation and user convenience.
- In June 2024, Xiaomi introduced the Mi Air Purifier 5, which offers an expanded filtration area and improved HEPA filters. The device supports voice control via smart home assistants and includes a redesigned quieter fan mechanism, reflecting ongoing efforts to enhance performance and user satisfaction.
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Key Takeaways for Smart Air Purifier Market
- Develop a thorough comprehension of the present market size, rate of growth, and significant trends.
- Keep up to date with the newest advancements in filtration technology, sensor functionalities, and intelligent characteristics.
- Recognize new potential areas for growth and focus on particular groups of customers.
- Discover ways to save money and enhance productivity.
- Distribute resources to regions with the highest growth potential.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Smart Air Purifier Market Segmentation, by Product Type
8. Smart Air Purifier Market Segmentation, by Technique
9. Smart Air Purifier Market Segmentation, by End User
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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