Smart Air Purifiers Market to Reach $ 18,156.3 million, Globally, by 2032 | Allied Market Research

In an era where air quality is a growing concern, smart air purifiers have emerged as a beacon of hope. Allied Market Research recently unveiled an insightful report titled, "Smart Air Purifiers Market," revealing the potential and importance of these technologically advanced devices. According to the report, the global smart air purifiers market was valued at $5,475.0 million in 2020 and is projected to surge to an impressive $17,656.3 million by 2032, boasting a remarkable Compound Annual Growth Rate (CAGR) of 10.1% from 2023 to 2032.

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The Evolution of Smart Air Purifiers

Smart air purifiers are revolutionary products that offer significant improvements in human health. They claim to maintain clean indoor air by combating air pollution and controlling indoor humidity levels. What sets them apart is their integration of built-in sensors, Wi-Fi or Bluetooth connectivity, and mobile applications, enabling remote monitoring and management of air quality.

Key Drivers of Growth

The growth of the smart air purifiers market is propelled by several key factors. The alarming increase in deaths due to air pollution has brought to the forefront the critical issue of air quality and its impact on human health. These purifiers are equipped with electronic chips, motors, fans, and filters that use raw materials such as carbon fiber, copper, and plastic. However, the fluctuating prices of these raw materials can affect manufacturer profitability. Nevertheless, companies in the smart air purifier market are adopting cutting-edge technologies like Artificial Intelligence (AI) and Nano technology to strengthen their position in the market.

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Market Segmentation

The report delves into various segments of the smart air purifiers market:

Product Types: Dust collectors dominate this category, holding the highest market share in 2022 and expected to maintain their leadership status. Dust collecting smart air purifiers are in high demand due to their high filtering efficiency and low maintenance costs. They are projected to witness the highest CAGR of 11.3% from 2023 to 2032.

Techniques: High-efficiency particulate air (HEPA) technology leads in this segment, accounting for less than two-fifths of the market revenue in 2022 and projected to maintain its leadership status. It is expected to witness the highest CAGR of 11.5% from 2023 to 2032, thanks to its high filtering efficiency (about 99.5%) and the ability to filter tiny pollutants as small as 0.3 microns.

End Users: The residential sector accounts for the largest share in 2022, driven by increasing demand for smart air purifiers. They are valued for their ease of operation and high efficiency in purifying indoor air. However, the commercial sector is expected to witness the largest CAGR of 11.5% from 2023 to 2032, owing to rising health concerns due to poor ambient air quality in commercial spaces.

Region: North America leads the pack in terms of market share in 2022, thanks to industrialization and business expansion in the region. However, Asia-Pacific is expected to witness the fastest CAGR of 14.6% from 2022 to 2031, driven by construction and infrastructure growth in developing countries like India and China.

Overcoming Pandemic Challenges

The COVID-19 pandemic initially posed challenges to the smart air purifiers market, resulting in a downturn. However, as global conditions improved, the demand for these devices rebounded, presenting growth opportunities for companies operating in the sector.

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Leading Market Players

Several key players dominate the smart air purifiers market, including Coway Co. Ltd., Dyson Technology Limited, Honeywell International Inc., and others. These industry leaders have implemented various strategies, such as new product launches, business expansions, acquisitions, collaborations, and more, to increase their market share and maintain a dominant presence in different regions.

In conclusion, the smart air purifiers market is poised for substantial growth, driven by increasing awareness of air quality issues and advancements in technology. As the global population becomes more health-conscious and air pollution remains a pressing concern, these devices are set to play a pivotal role in improving indoor air quality. Companies operating in this industry should continue to innovate and adapt to capitalize on the growing demand for smart air purifiers.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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