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The smart water purifier market was valued at US$ 1,732.23 million in 2021 and is projected to reach US$ 2,885.26 million by 2028. It is expected to grow at a CAGR of 7.6% from 2021 to 2028.
A diverse set of purification methods, such as UV, RO, sediment filter, Nanofiltration, and anti-bacterial filter, are followed in water purifiers. These devices have gained massive traction in recent years. Residential and business users have demonstrated a greater understanding of these technologies and many facets of their capabilities. As a result, several smart functions have gained traction, thereby proliferating the demand for smart water purification systems. Several features help track the health of cartridges in use and continuously monitor the water quality by sending notifications regarding the performance of purifying technologies.
The need for smart water purifier systems has continuously increased due to the rising demand for safe potable water and tap water. The market for smart purifier systems is growing due to the rapid rate of urbanization in emerging economies and the increased need for clean water among companies. Smart water purifier technologies have also grown in popularity due to their increasing importance in extending the appliance's shelf life. A critical development strengthening the prospects of the smart water purifier systems market is the current requirement for more innovative and user-friendly features in appliance protection systems.
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Smart Water Purifier Market: Strategic Insights
Market Size Value in US$ 1,732.23 Million in 2021 Market Size Value by US$ 2,885.26 Million by 2028 Growth rate CAGR of 7.6% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Smart Water Purifier Market: Strategic Insights
| Market Size Value in | US$ 1,732.23 Million in 2021 |
| Market Size Value by | US$ 2,885.26 Million by 2028 |
| Growth rate | CAGR of 7.6% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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The smart water purifier market major players have spent much of their revenue researching and developing innovative water purification products and production processes. The top leaders' growth strategies include broader product offers backed by exceptional operational efficiency and cutting-edge technologies. Virgin Pure, AO SMITH WATER TECHNOLOGIES, and LG Electronics are key players with well-established and robust supply chains. Leading businesses use new product designs and purchase from small-scale manufacturers or suppliers to strengthen their market position and remain ahead of the competition. For instance, Kent RO Systems Ltd. announced intentions to invest roughly US$ 19 million in a new production unit over the next three years. The company plans to add a US$ 0.4 million yearly capacity to its third unit to quadruple revenue.
- Based on the connectivity, the global smart water purifier market has been segmented into Wi-Fi, Bluetooth, and smart app. Based on the technology, the market has been segmented into ultra-filtration (UF), ultraviolet (UV), reverse osmosis, multi-stage purifiers, and others.
- Based on the end user, the global smart water purifier market has been segmented into residential, commercial, and industrial. Based on sales channels, the smart water purifier market has been segmented into retail stores, direct sales, and online.
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 is continuing to shatter the economies and industries of several countries. Until the outbreak of COVID – 19, the smart water purifier industry was experiencing a substantial growth; however, the outbreak of the virus led to notable slowdown in the production activities of various industries deploying the use of market solutions. The various containment measures, such as lockdowns, business shutdown, and trade restrictions led to a negative impact on the production and supply chain of smart water purifier market till the second half of 2020, and during the second large outbreak in 2021.
With industrial activities picking pace in the last quarter of 2020, market players are experiencing steady growth in demand from end users. Moreover, the massive requirement of smart water purifiers in residential, commercial, and industrial sectors has created a stable demand for smart water purifiers across the world.
Furthermore, the pandemic has invoked a rising need for high-quality water purification systems for industrial, non-industrial, and residential applications, as the clients require better water quality to keep infections at bay. The global smart water purifier market plummeted initially due to the adverse impact of the COVID-19 pandemic and the related regulations. However, it is expected to recover strongly due to the increasing need for high-quality, clean drinking water in numerous end-use verticals over the next few years.
Lucrative Regions for Smart Water Purifier Market
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Market Insights– Smart Water Purifier Market
Increasing Demand for Smart Water Purifiers in Developing Nations Creating Growth Opportunities
Decreasing drinking water supplies in several emerging nations, such as India and China in Asia Pacific and a few countries in Africa, leads to a rise in smart water purification infrastructure expenditure. Increasing awareness campaigns by leading health organizations such as WHO to combat the water crisis and shortage of clean drinking water will also aid the proliferation of the smart water purifier market 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 made specifically for isolated areas. Another example worth mentioning is the launch of a 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.
Connectivity-Based Insights
Based on the connectivity, the smart water purifier market is segmented into Wi-Fi, Bluetooth, and smart app. The Wi-Fi segment dominates the smart water purifier market. Water purifiers have become a need in today's world. Wi-Fi-enabled smart water purifier guarantees that customers consume safe, clean water and live a healthy lifestyle. The multi-stage filtering process removes pollutants and ensures pure water, and they are used in almost every kitchen as they come in various sizes and styles. For instance, Xiaomi provides the Mi Water Purifier, which is an efficient alternative because it can connect to Wi-Fi and keep consumers informed about the water quality, resulting in the growth of the smart water purifier market.
Technology-Based Insights
Based on technology, the global smart water purifier market has been segmented into ultra-filtration (UF), ultraviolet (UV), reverse osmosis, multi-stage purifiers, and others. The reverse osmosis segment is dominating the smart water purifier market. A reverse osmosis (RO) smart water purifier separates ions, undesirable compounds, and bigger particles from drinking water using a partly permeable membrane. Applied pressure is utilized in reverse osmosis to counteract osmotic pressure, a colligative phenomenon generated by potential chemical differences in the solvent. Reverse osmosis can remove a wide range of dissolved and suspended chemical species and biological species (most notably bacteria) from water and is utilized in industrial operations and potable water production. For instance, KENT RO SYSTEMS LTD provides a RO smart water purifier that eliminates bacteria and viruses and dissolves pollutants, making it pure.
End User-Based Insights
Based on the end user, the global smart water purifier market has been segmented into residential, commercial, and industrial. The residential type segment dominates the smart water purifier market. The best home water purifier ensures that people drink clean, hygienic water each day, protecting them from waterborne infections. A RO water purifier, also known as reverse osmosis (RO) smart water purifier, purifies water and eliminates all disease-causing germs using cutting-edge technology. For instance, the Aquagrand Skyland 18 L residential smart water purifier has a pre-sediment filter, pre-carbon filter, UV chamber, and RO membrane, designed to purify the water and eliminate germs, bacteria, and harmful particles.
Sales Channel-Based Insights
Based on Sales Channel, the Smart Water Purifier Market is segmented into retail stores, direct sales, and online stores. The Retail Store segment led the Smart Water Purifier Market. A retail business buys smart water purifiers in bulk from manufacturers, either directly or through a wholesaler, and then resells them to customers in smaller amounts for a profit. The final link in the supply chain between manufacturers and customers is the retail shop. Some retail establishments advertise themselves as wholesale retailers with wholesale prices. For instance, Reliance Digital shops sell a variety of smart water purifiers from various companies from one location.
Players operating in the smart water purifier market are mainly focused on developing advanced and efficient products.
- In May 2021, Virgin Pure had explained the benefits of the Virgin Pure water system. A water system is a single, stylish device installed by Virgin Pure engineers in homes and offices across the UK that provides unlimited, instant, pure boiling, or chilled H2O. Virgin Pure is playing an important part in making Britain plastic-free.
- In April 2022, A.O. Smith Corporation announced the acquisition of Giant Factories, Inc., a Canadian manufacturer of residential and commercial water heaters, for approx. US$ 192 million. The acquisition strengthens the company's leadership position as a global water treatment giant.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Connectivity, Technology, End User, Sales Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The absorption of microscopic organisms—such as bacteria and viruses—in water bodies and contact with excretion result in water contamination, leading to the spread of waterborne diseases. Thousands of people die each year due to spread of waterborne illnesses such as cholera, typhoid, and diarrhea, especially in emerging and third-world countries where safe and clean water is scarce. The lack of cleanliness is another leading cause of severe infections. Drinking clean and pure water from water purifiers is the best way to avoid contracting waterborne infections.
For instance, KENT Grand Star is an advanced RO smart water purifier that includes several purification processes such as RO+UV+UF+TDS Control + UV In-tank to offer customers with 100% clean drinking water. The Zero Water Wastage Technology on the KENT Grand Star Mineral RO Water Purifier ensures that no water is wasted throughout the purifying process. Therefore, the rising awareness regarding waterborne disease is promoting the adoption of smart water purifiers.
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 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 made specifically for isolated areas. Another example worth mentioning is the launch of compact cigar-shaped tube that filters water 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 wi-fi segment led the smart water purifiers market with a share of 46.0% in 2020 and its anticipated to dominate over the forecast period. Water purifiers have become a need in today's world. Wi-Fi-enabled smart water purifier guarantees that customers consume safe, clean water, and live a healthy lifestyle. The multi-stage filtering process removes pollutants and ensures pure water, and they are used in almost every kitchen as they come in various sizes and styles. For instance, Xiaomi provides the Mi Water Purifier, which is an efficient alternative because it can connect to Wi-Fi and keep consumers informed about the water quality, resulting in the growth of the smart water purifier market.
North America dominated the Smart Water Purifier Market in 2020 with a share of 42.4%; it would continue to dominate the market during the forecast period and account for 42.0% share by 2028. Europe is the second-largest contributor to the global Smart Water Purifier Market, followed by Asia Pacific.
The major companies in smart water purifiers includes Xiaomi, AO Smith, Kent Health Care, Eureka Forbes and LG Electronics.
The Reverse Osmosis segment led the Smart Water Purifier Market with a share of 37.0% in 2020. Further, it is expected to garner 37.5% share by 2028.
The List of Companies - Smart Water Purifier Market
- 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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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