The smart water purifier market size is projected to reach US$ 3.58 billion by 2031 from US$ 1.89 billion in 2023. The market is expected to register a CAGR of 8.3% during 2023–2031. Rising Awareness regarding waterborne diseases and emerging advancements in technology are likely to be key trends and drivers of the market.
The smart water purifier market is experiencing significant growth globally. This growth is attributed to the rising awareness regarding waterborne diseases and emerging advancements in technology. Moreover, increasing demand for smart water purifiers in developing nations and remineralization for better taste and health are anticipated to drive market growth in the coming years.
Smart water purifiers for home use advanced filtration technology to remove impurities from water. They typically use a combination of reverse osmosis (RO), activated carbon, and other advanced filters to remove impurities such as bacteria, viruses, chemicals, and heavy metals.
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Smart Water Purifier Market: Strategic Insights
The increasing awareness regarding waterborne diseases is indeed driving the smart water purifier market. Due to pollution, the number of waterborne diseases is increasing, and so is the need for smart water purifiers. Contaminated water and poor sanitation are linked to the transmission of diseases such as cholera, diarrhoea, dysentery, hepatitis A, typhoid and polio. To overcome the growth of waterborne diseases, many businesses are investing in water purification systems such as reverse osmosis smart purifiers, UV (ultraviolet) smart purifiers, and UF (ultrafiltration) smart purifiers. Thus, considering the above parameters, the increasing awareness regarding waterborne diseases is driving the market growth.
Rising demand for smart water purifiers in developing nations is anticipated to hold several opportunities for the smart purifier market. The increasing awareness regarding the benefits of clean water consumption, industrialization and urbanization and industrialization, as well as government initiatives and campaigns, are driving the global market. Furthermore, the growing number of waterborne diseases, particularly in developing countries, is further driving market growth. As urbanization is growing the developing cities, the demand for smart purifiers is also increasing. Thus, owing to the above parameters, the demand for smart purifiers in developing nations is anticipated to hold several opportunities in the market.
Key segments that contributed to the derivation of the smart water purifier market analysis are connectivity, technology, end user, and sales channel.
The geographic scope of the smart water purifier market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the smart water purifier market. High technology adoption trends in various industries in the North American region have fuelled the growth of smart water purifiers. The rising awareness regarding waterborne diseases and emerging advancements in technology in the region. Also, factors such as increased adoption of digital tools and high technological spending by government agencies are expected to drive the North American smart water purifier market growth. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of engineering software market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the smart water purifier market.
The regional trends and factors influencing the Smart Water Purifier Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Smart Water Purifier Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1.89 Billion |
| Market Size by 2031 | US$ 3.58 Billion |
| Global CAGR (2023 - 2031) | 8.3% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Connectivity
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Smart Water Purifier Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Smart Water Purifier Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The smart water purifier market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the smart water purifier market are listed below:
The “Smart Water Purifier Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The expected CAGR of the smart water purifier market is 8.3%.
The global smart water purifier market is expected to reach US$ 3.58 billion by 2031.
Remineralization for better taste and health is anticipated to drive the market in the forecast period.
The key players holding majority shares in the global smart water purifier market are Virgin Pure, 3M, A.O. SMITH WATER TECHNOLOGIES, LG Electronics, Livpure Smart Homes Private Limited, Membrane Solutions, LLC, Eureka Forbes, KENT RO SYSTEMS LTD, Coway USA; Inc, Xiaomi Corporation.
Rising Awareness regarding waterborne diseases and emerging advancements in technology are some of the factors driving the smart water purifier market.
North America is anticipated to dominate the smart water purifier market in 2023.