Organizational Preference for Cloud-Based Installations to Overcome On-Premises Constraints to Provide Growth Opportunities for Smart Water Purifier Market during 2021–2028
According to our new research study on "Smart Water Purifier Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Connectivity, Technology, Sales Channel, End User, and Geography," the market is projected to reach US$ 2,885.26 million by 2028 from US$ 1,732.23 million in 2021. It is estimated to grow at a CAGR of 7.6% from 2021 to 2028.
Decreasing drinking water supplies in several emerging nations such as India and China in Asia Pacific and a few countries in Africa lead to a rise in expenditure on smart water purification infrastructure. Increasing awareness campaigns by leading health organizations such as WHO to combat the water crisis and shortage of clean drinking water will also aid smart water purifier market proliferation in the forthcoming years.
These organizations are also sponsoring water purifier firms, which, in turn, has prompted manufacturers to announce better offers in these areas to maximize profits. They sell low-cost water filtering systems, such as 'Cycloclean,' created by Japan's Nippon Basic Company. This is a water purification bike explicitly made for isolated areas. Another example worth mentioning is the launch of the compact cigar-shaped water filter tube by LifeStraw Water Filters and Purifiers.
Some companies are also engaging in partnerships and collaborations to generate revenues. For example, Whirlpool Corporation is extending its distribution and production capabilities to broaden its regional reach. Pureit also established its business in India by partnering with community-based water plants, providing a lucrative opportunity for the growth of the smart water purifier market during the forecast period.
The global smart water purifier market is analyzed on four fronts: Connectivity, technology, sales channel, and end-user. Based on the connectivity, the smart water purifier market is segmented into Wi-Fi, Bluetooth, and Smart App. By technology, the market is classified into ultra-filtration (UF), ultraviolet (UV), reverse osmosis, multi-stage purifiers, and others. In terms of the end user, the market is categorized into residential, commercial, and industrial.
Concerning sales channel, the market is bifurcated into retail store, direct sales, and online stores. Geographically, the market is spread across North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).
Impact of COVID-19 Pandemic on Smart Water Purifier Market
The COVID-19 outbreak had a drastically adverse impact on the world economy during its peak in 2020 and continues to shatter several countries' economies and industries. Until the outbreak of COVID – 19, the smart water purifier industry was experiencing substantial growth. However, the outbreak led to a notable slowdown in the production activities of various sectors deploying the use of market solutions. The various containment measures, such as lockdowns, business shutdown, and trade restrictions, negatively impacted the production and supply chain of smart water purifier market until the second half of 2020 and during the second large outbreak in 2021.
Virgin Pure, 3M, AO SMITH WATER TECHNOLOGIES, LG Electronics, Livpure Smart Homes Private Limited, Membrane Solutions, LLC, Eureka Forbes, KENT RO SYSTEMS LTD, Coway USA Inc., and Xiaomi Corporation are the leading companies operating in the global smart water purifier market.
Smart Water Purifier Market – by Geography
Smart Water Purifier Market Trends, Share, Analysis by 2028
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Smart Water Purifier Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Connectivity (Wi-Fi, Bluetooth, and Smart App), Technology (Ultra-Filtration (UF), Ultraviolet (UV), Reverse Osmosis, Multi-stage purifiers, and Others), End User (Residential, Commercial, and Industrial), Sales Channel (Retail Store, Direct Sales, and Online)
Smart Water Purifier Market Trends, Share, Analysis by 2028
Download Free SampleSmart Water Purifier Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Connectivity (Wi-Fi, Bluetooth, and Smart App), Technology (Ultra-Filtration (UF), Ultraviolet (UV), Reverse Osmosis, Multi-stage purifiers, and Others), End User (Residential, Commercial, and Industrial), Sales Channel (Retail Store, Direct Sales, and Online)
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