LONDON--(BUSINESS WIRE)--The global smart air purifier market size is expected to grow by USD 3.35 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report
The increasing demand for home automation products is expected to drive the growth of the market during the forecast period. Home automation systems use the internet of things (IoT) to monitor and control home appliances remotely. They also help monitor and reduce the energy consumption of general lighting controls and heating, ventilation, and air conditioning (HVAC) through automated control. Smart air purifiers are built with advanced technologies and can be operated with a certain level of automation. Some of them are embedded with artificial intelligence technology to predict consumer preferences accurately based on past data. Hence, the global smart air purifier market is anticipated to grow at a significant rate during the forecast period.
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As per Technavio, the new product launches by vendors will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Smart Air Purifier Market: New Product Launches By Vendors
New product development, improvement in technology, and high levels of marketing support will increase the awareness of smart air purifiers among consumers. Over the past few years, vendors have been focusing on new product launches and have come up with a variety of new offerings. For instance, in 2019, Sharp Corp. launched SHARP FP-JC2M-B Car Air Purifier that clean the air inside a car silently, using dual technology of HEPA and carbon filters. Similarly, Dyson Ltd. launched Pure Cool air purifier, which has intelligent sensors to auto-detect and display pollutants. Such product launches are expected to drive the growth of the market.
“Factors such as the increasing air pollution, respiratory problems, and the growth in the global household appliances market will have a significant impact on the growth of the smart air purifier market value during the forecast period,” says a senior analyst at Technavio.
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Smart Air Purifier Market: Segmentation Analysis
This market research report segments the smart air purifier market by product (dust collectors, fume, and smoke collectors), technology (HEPA, activated carbon, and others), and geography (APAC, North America, Europe, MEA, and South America).
The APAC region led the smart air purifier market in 2019, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as growth in the global household appliances market and the rise in disposable income of consumers.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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