Global Smart Air Purifier Market 2019-2023
About this market
Exposure to air containing particles, such as dust, dander, and bacteria, may cause respiratory problems. Indoor burning of solid fuels has been identified as one of the reasons for pollution-related diseases. The major reason behind this is the burning fossil fuels such as burning coal, wood, charcoal, dung, and crop wastes for cooking, heating, and lighting. The significant increase in the level of air pollution across the globe increases the demand for air purifiers. Smart air purifiers have proven to be one of the efficient devices to control air pollution in the residential and commercial places as they automatically analyze air quality and operate with the required intensity to clean the impure air. To prevent the occurrence of diseases, air purifiers are being installed in homes and offices, which, in turn, is driving the sales of smart air purifiers. Technavio’s analysts have predicted that the smart air purifier market will register a CAGR of almost 14% by 2023.
Increasing demand for home automation products
Product launches provide buyers with a whole new array of deigns, colors and sizes. Moreover, they keep buyers informed about the latest technological improvements through advertisement and promotions.
Availability of substitutes
Smart air purifiers are advanced versions of conventional air purifiers, which have air filters to filter out impurities from polluted air. Moreover, smart air purifiers are expensive than conventional air purifiers because of advanced features, which limits the mass consumer segment from purchasing the product. Hence, the high availability of substitutes may hinder the market's growth during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the smart air purifier market during the 2019-2023, view our report.
The market appears to be moderately concentrated and with the presence of limited vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Smart Air Purifier Market 2019-2023
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increasing adoption in healthcare facilities.”
According to the report, one of the major drivers for this market is the increasing air pollution leading to respiratory problems.
Further, the report states that one of the major factors hindering the growth of this market is the high price and low awareness of smart air purifiers in developing countries.
Honeywell International Inc.
Koninklijke Philips N.V.
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