Kenneth Research released a report on Air Purifier Market that consists detailed analysis and industry insights for the forecast period, i.e. 2020-2026. On the basis of analysis of the market value and calculation of the CAGR during the forecast period, the latest trends and business opportunities in the market are discussed in the report. Backed by the growing advancements in the ICT industry, especially in the field of internet of technology (IoT) and artificial intelligence (AI), along with the advancements that support the basic backbone of the overall ICT industry, the Air Purifier Market is projected to grow with a modest CAGR during the forecast period, i.e. 2020-2026.
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In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years.
Air pollution has become one of the key concerns across the world, which results in fatal health problems such as lung cancer, heart problems, strokes, and chronic and acute respiratory diseases that can lead to death. Factors responsible for the deterioration of air quality includes the rapid increase in urbanization, industrialization, and pollution through vehicular emissions. In addition, the significant presence of VOCs, smoke, and pollens severely affects the quality of the indoor air. This is increasing the demand for air purifiers for both residential and commercial applications. Thus, the growing air pollution levels is expected to drive the growth of the air purifier market during the forecast period.
Factors such as increasing airborne diseases, and growing health consciousness among consumers are driving the market. Air pollution from industries is constantly emerging as a big threat to health of individuals as well as environment.*In the recent years, air purifier market has witnessed a hike in demand fueled by the degrading air quality and increasing concerns towards health issues. Despite the various technological developments, air purifiers have been perceived as a luxury item in both underdeveloped and emerging economies particularly in the commercial and residential segments, owing to the high installation and maintenance cost. This, in turn, is expected to hinder the growth of the market studied.
Moreover, the global air purifier market is segmented based on filter type which includes HEPA & Activated Carbon, Ion & Ozone, Electrostatic Precipitators, HEPA & Activated Carbon + Ion & Ozone, HEPA, Activated Carbon and Others. HEPA & Activated Carbon category holds the largest share in the global air purifier market.*In terms of regional markets, Asia-Pacific is expected to continue its market dominance over the next five years.
High Efficiency Particulate Air
By Regional Ananlysis
*Rest of Europe
*Rest of Asia-Pacific
*Rest of LATAM
Middle East & Africa
*Rest of MEA
Major organizations in the market are, but not limited to, IQAir North America Inc., Honeywell International Inc., LG Electronics Inc., Unilever PLC, Aerus LLC, Daikin Industries Ltd., Koninklijke Philips N.V., Panasonic Corporation, Hamilton Beach Brands Inc., and Whirlpool Corporation.
The Information and Communications Technologies (ICT) sector in Canada consists of more than 41,500 companies, out of which, over 37,000 companies come under the category of software and computer services industries. Hence, around 89.8% of key players in the ICT industry are involved in software and computer services, 4.5% companies are in ICT wholesaling, 3.4% in communications services and the remaining 2.2% companies are involved in ICT manufacturing in the country, as per the Canadian ICT Sector Profile released by the Government of Canada in 2018.
Reasons to Purchase this Report
* Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
* Provision of market value (USD Billion) data for each segment and sub-segment
* Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
* Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
* Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
* Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
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