Connect with us

Technology

The Air Purifier Market is projected to grow by USD 7.18 billion from 2024-2028, driven by technological innovation and portfolio expansion leading to product premiumization, including AI impact–Technavio report

Published

on

NEW YORK, Aug. 27, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global air purifier market size is estimated to grow by USD 7.18 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.57% during the forecast period. Technological innovation and portfolio extension leading to product premiumization is driving market growth, with a trend towards introduction of smart, connected air purifiers. However, presence of counterfeit products poses a challenge. Key market players include 3M Co., AllerAir Industries Inc., Americair Corp., AustinAir, Blue Star Ltd., Breville Group Ltd., Camfil AB, Daikin Industries Ltd., Dyson Group Co., Eureka Forbes Ltd., Hamilton Beach Brands Holding Co., Havells India Ltd., Honeywell International Inc., IQAir AG, Koninklijke Philips N.V., LG Electronics Inc., MIDEA Group Co. Ltd., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., and Whirlpool Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Air Purifier Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 8.57%

Market growth 2024-2028

USD 7184.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.32

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 36%

Key countries

US, China, Japan, Germany, and Canada

Key companies profiled

3M Co., AllerAir Industries Inc., Americair Corp., AustinAir, Blue Star Ltd., Breville Group Ltd., Camfil AB, Daikin Industries Ltd., Dyson Group Co., Eureka Forbes Ltd., Hamilton Beach Brands Holding Co., Havells India Ltd., Honeywell International Inc., IQAir AG, Koninklijke Philips N.V., LG Electronics Inc., MIDEA Group Co. Ltd., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., and Whirlpool Corp.

Market Driver

The air purifier market is witnessing significant growth due to increasing demand for advanced and innovative air purifying solutions. Vendors are capitalizing on this trend by introducing smart air purifiers, which offer user-friendly features, energy savings, and enhanced safety. These appliances come with Energy Star certification for energy efficiency, hassle-free maintenance, alert systems, and remote control functionality. Smart air purifiers, such as Honeywell’s Air Touch X3 Office Air Purifier, are Wi-Fi enabled and allow users to control the device and monitor air quality remotely. With features like adjustable backlight and easy-to-use controls, these appliances offer a convenient and effective solution for maintaining clean and healthy indoor air. The market for smart air purifiers is expected to grow steadily during the forecast period, as more consumers seek out these advanced and convenient solutions for improving indoor air quality. 

The air purifier market is experiencing significant growth due to increasing health awareness and rising pollution levels in metropolises. Pleated filters, effective against harmful pollutants and airborne germs including viruses and bacteria, are trending. Healthcare facilities and life sciences applications prioritize air filtration protection. Nirvana, Levoit, and Blueair lead the residential market with their robust designs and noise-efficient models. Commercial use sees Blueair’s Blue Pure Max as a top choice. Nylon core filters offer high virus removal capacity. Noise, product safety, and smart home technologies are key considerations. Airborne diseases, pollution levels, and the Clean Air Act drive demand. Workplaces seek substitutes for traditional air filters with HEPA filters using submicron glass fibers capturing particles as small as 0.3 microns. Outdoor air pollution and developing regions are new markets. 

Explore a 360° Analysis of the Market: Unveil the Impact of AI. For complete insights- Request Sample!

Market Challenges

The air purifier market is experiencing significant growth and increasing demand, attracting both legitimate and counterfeit product manufacturers. Counterfeit air purifiers, made with low-quality materials and less durability, pose a challenge to market vendors. E-commerce platforms facilitate the distribution and sales of these counterfeit products, making it difficult for customers to distinguish them from genuine ones. Counterfeit products’ relatively low price is a major factor contributing to their demand, negatively impacting vendors’ sales and pricing strategies. To retain customers and protect brand reputation, vendors invest in advertising and promotional campaigns, which can be costly and reduce profit margins. The availability of counterfeit products also affects volume sales, potentially leading to inventory backlogs for international vendors. Counterfeit manufacturers save on production and transportation costs by operating in regional or local markets, making their products less expensive than genuine ones. Established global vendors aim to penetrate developing markets, such as India and China, where counterfeit products are prevalent. The presence of counterfeit products is expected to limit the growth of the global air purifier market during the forecast period. Vendors must focus on educating consumers about the risks and consequences of purchasing counterfeit products while maintaining competitive pricing and product quality.The Air Purifier Market faces challenges in ensuring performance efficacy against various pollutants like smoke, dust, bio-contaminants, pollen, and urban pollutants. Environmental impact is a concern due to the use of activated carbon and charcoal filters, which may release gases and odors. Ionic filters, UV LED, and ionizers raise questions regarding their ability to effectively address all types of pollutants, including airborne viruses. Industrial activities, air pollution, and vehicular emissions contribute significantly to urban air pollution, necessitating air purification solutions. Asthma, allergies, and airborne infections are common health concerns linked to indoor air quality. Differentiating air purifiers based on unique features such as smart technology, coverage area, and air quality sensors is crucial. Misconceptions surrounding air purifiers as luxury items hinder market growth. Mechanical air filters, extended-surface filters, and filters for specific pollutants like mold spores, animal dander, dust mite, and cockroach allergens are essential offerings.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This air purifier market report extensively covers market segmentation by

Application 1.1 Commercial1.2 Residential1.3 IndustrialTechnology 2.1 HEPA2.2 Electrostatic precipitators2.3 Ionizers and ozone generators2.4 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Commercial- The commercial segment dominates the global air purifier market, accounting for the largest share in 2023. Air purifiers are extensively used in various commercial spaces, including schools, malls, offices, hospitals, hotels, theaters, and other establishments. These purifiers, particularly those with activated carbon and HEPA filters, effectively eliminate harmful particles, smoke, and odors, enhancing indoor air quality. In healthcare facilities, air purifiers play a crucial role by eradicating odor-carrying pathogens and allergens, ensuring a clean and healthy environment for staff and patients. The increasing urbanization in developing countries, such as India, fuels the demand for air purifiers. The benefits of air purifiers, such as improved air quality and healthier indoor environments, are driving their adoption in commercial spaces, thereby propelling the growth of the global air purifier market.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Air Purifier market has witnessed significant growth due to rising concerns over airborne diseases, increasing pollution levels, and growing health awareness. With the standard of living improving in developing regions, the demand for air purification solutions has surged. Outdoor air pollution, caused by industrial activities, vehicular emissions, and urban air pollution, poses a major health risk. Air purifiers have become essential in mitigating the effects of air pollution, especially in areas with high levels of particles, such as submicron glass fibers, mold spores, animal dander, dust mite, cockroach allergens, and respirable particles. Mechanical air filters, including HEPA filters and pleated filters, effectively trap these pollutants, providing relief from asthma, allergies, airborne infections, and other health issues caused by viruses and bacteria.

Market Research Overview

The air purifier market is witnessing significant growth due to rising concerns over airborne diseases, increasing pollution levels, and growing health awareness. With the standard of living improving in developing regions, there is a heightened focus on indoor air quality. HEPA filters, submicron glass fibers, and other advanced technologies are being used to remove particles, smoke, dust, bio-contaminants, pollen, and gases from the air. Outdoor air pollution, industrial activities, vehicular emissions, and urban air pollution are major contributors to poor air quality. Air filters, including mechanical filters, activated carbon, charcoal, ionizers, UV LED, and HEPA filters, are popular air purification solutions. Smart home technologies, such as air quality sensors and smart air purifiers, are gaining popularity for their performance efficacy and product safety. However, there are misconceptions about the environmental impact of air purifiers and the availability of product substitutes. It is essential to consider the unique features of each air purifier, such as coverage area, noise level, and performance efficacy, when making a purchase. Airborne diseases, including asthma, allergies, and airborne infections, are a significant concern, especially in healthcare facilities and life sciences applications. Air purifiers offer air filtration protection against harmful pollutants, airborne germs, and other urban pollutants. Air purifiers are no longer considered luxury items but are becoming essential for both residential and commercial use. Companies are differentiating themselves by offering unique features, such as extended-surface filters, pleated filters, and virus removal capacity. Brands like Nirvana, Levoit, and Blueair are leading the market with their robust designs and innovative technologies. The Clean Air Act and pollution campaigns have led to stricter regulations on emissions, making it crucial for air purifier manufacturers to prioritize product safety and environmental impact. With the increasing focus on indoor air quality, the air purifier market is expected to continue its growth trajectory.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationCommercialResidentialIndustrialTechnologyHEPAElectrostatic PrecipitatorsIonizers And Ozone GeneratorsOthersGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-air-purifier-market-is-projected-to-grow-by-usd-7-18-billion-from-2024-2028–driven-by-technological-innovation-and-portfolio-expansion-leading-to-product-premiumization-including-ai-impacttechnavio-report-302231723.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Positive Perception of Term “All-Electric Home” Increases 12 Percentage Points in Recent Years, E Source Survey Finds

Published

on

By

Research from the utilities-focused research, consulting, and data science company shows positive shift in homeowner perceptions of electrification technologies, though cost remains a barrier to fuel-switching. 

BOULDER, Colo., Nov. 14, 2024 /PRNewswire/ — E Source, a utilities-focused consulting, research, and data science company, has shared the results of its 2024 Residential Electrification Survey, including a shift in consumer attitudes toward electrification technologies in residential settings. The independent study, first conducted in 2021, fielded in April 2024 with over 10,000 residential homeowner utility customers in the United States and Canada.  

Designed and administered by the E Source Market Research team, the survey offers findings around: 

Consumer perceptions of electrification technologies: Over three-quarters of respondents believe that electricity is a safer home and appliance fuel source than natural gas, an increase from 2021. Despite shifting perceptions, cost remains a barrier to fuel-switching.Current ownership of electrification equipment: More respondents say they own electric equipment in 2024 compared to 2021, with electric cooktops and smart thermostats reported as the most common electric appliances.Readiness for adoption: While many respondents said they were unlikely to switch fuel sources for most home equipment, 27% expressed interest in taking steps to electrify all their appliances.

In other notable findings, positive perception of the term “all-electric home” increased from 40% in 2021 to 51% in 2024. Additionally, over one-third of respondents would prefer homes with only electric appliances when choosing their next residence, with 63% stating that gas appliances contribute to indoor air pollution, an increase from 51% in 2021.  

However, despite the growing interest in electrification, cost remains the largest barrier to fuel-switching, with 76% of respondents believing that switching fuel sources of any kind in their home appliances would be costly. 

Utilities today are navigating fast-paced technological advancements, transitioning to cleaner energy sources, managing tighter budgets, and looking to meet heightened customer expectations. A systematic and targeted approach to electrification is central to successfully addressing these challenges.

“Electrification holds tremendous potential along with risks. Utilities can realize that potential and mitigate the risks by understanding how to best engage their customers in the energy transition. With in-depth market research like our Residential Electrification Survey, utilities can understand perceptions of electrification to promote the value of new technologies based on customer needs, beliefs, and behaviors,” said Filomena Gogel, President of research and advisory at E Source.  

An overview of the insights is publicly available in a downloadable eBook here. Detailed findings are available in an industry report for members of the Distributed Energy Resource (DER) Strategy Service offered by E Source. 

About E Source 
E Source combines industry-leading research, data science, and consulting to help utilities make and implement better data-driven decisions that positively impact their customers, their bottom line, and our planet. Headquartered in Boulder, Colorado, E Source has teams across the US and Canada. Learn more at www.esource.com.

Media Contact:  
Adarsh Nalam, Director, Solutions Marketing and Communications  
adarsh_nalam@esource.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/positive-perception-of-term-all-electric-home-increases-12-percentage-points-in-recent-years-e-source-survey-finds-302306080.html

SOURCE E Source Companies LLC

Continue Reading

Technology

Ironclad Launches Jurist: an AI-Powered Assistant That Shows its Work

Published

on

By

The conversational AI assistant utilizes purpose-built multi-agent technology that works together to automate legal work, giving legal professionals a singular place to work with all the right tools and information in one seamless experience

SAN FRANCISCO, Nov. 14, 2024 /PRNewswire/ — Ironclad, the leading digital contracting platform for modern businesses, today announced the public launch of a new conversational AI legal assistant, Ironclad Jurist. Jurist allows legal professionals to draft, edit, review, summarize, translate, and answer questions related to modern contracting. Jurist is the only AI-powered assistant purpose-built for lawyers that lets users create and iterate on any legal document with past company precedent, benchmarks, and real-time changes in the legal space—all in an online, fully editable .docx workspace.

Jurist, built on Ironclad’s open-source visual programming platform Rivet, offers users unprecedented transparency into AI decision-making within a contract by displaying agent actions and reasoning, complete with citations in its online research mode. Leveraging industry-leading prompt routing, specialized legal prompt engineering, and a sophisticated retrieval automation generation (RAG) approach that harnesses multiple top-tier LLMs, Jurist is transforming the landscape of AI-assisted legal work.

“Jurist has already eliminated hours of manual review from our document review process. Its intuitive interface lets us easily define our own parameters, transforming tasks like NDA reviews into a streamlined workflow,” said Katelyn Canning, Director and Head of Legal at Ocrolus. “What truly sets it apart is its ability to select the most appropriate AI model for each task behind the scenes, delivering useful results without requiring us to craft intricate prompts. This combination of power and simplicity has made it an indispensable tool for our legal team.”

After a rigorous five-month beta, which included in-house legal teams at companies like Ocrolus and Signifyd, and leading law firms including Gunderson Dettmer, Jurist is now generally available. With Ironclad Jurist, users can:

Perform legal work in one central place: Jurist provides a new surface for lawyers to work with, iterate, draft, edit, research, and ask questions, all within a single environment. Users can directly edit AI outputs—and write prompts for specific sections of documents to fine-tune contract language—in a native .docx editor.Personalize AI outputs with past documents: Jurist produces personalized drafts, reviews, and edits based on the context users provide, including templates and executed agreements.Access the latest legal knowledge from verified online sources: Users can stay current with the ever-evolving legal landscape from the most reputable online legal research sources.Verify actions taken by your team of agents: Jurist explains its decisions in real time and cites sources when answering prompts, empowering users to use what they create with confidence.Work in a responsible, privacy-forward environment: Jurist does not allow companies like OpenAI or Google to retain or train on customer data. Ironclad provides customers with complete enterprise-grade security and holds numerous certifications, including several ISOs. Ironclad is also compliant with GDPR, HIPAA, and the SOC 2 Type II Security Trust Criteria. To learn more about Ironclad’s security certifications, click here.

“Legal is the perfect application for LLMs, because LLMs are exceptionally good at working with unstructured data – which is the lion’s share of the types of documents lawyers work with,” said Ironclad Chief Product Officer Michel Feaster. “We built Jurist to help bridge this gap, and wanted to create something that was congruent with the ways that lawyers are already working. Lawyers need to be able to edit in real-time in one place, or be able to ask questions about specific parts of a contract, or compare and edit groups of documents at the same time. And because Ironclad has been building technology for lawyers and optimizing contracts for 10 years, our AI agents are fine tuned to be best in class at legal editing.”

“Using Jurist has helped give us a singular workplace to drastically speed up many kinds of legal work,” said Zuhair Saadat, Contracts Manager at Signifyd. “For example, performing an MNDA review or drafting custom clauses for an order form typically takes an hour to a day. Using Jurist, we could do this in minutes—in some cases seconds—depending on complexity. If I need to edit the output, translate it, or ask a question about it, I can do that right in the product without leaving. It reduces time spent on these kinds of tasks, saves money on attorney fees, and gives me a leg up. Whatever I’m doing, I never have to start from scratch.”

“We’ve released Jurist as a standalone product, built on Ironclad architecture, because we feel this will benefit the entire legal community—whether they already use Ironclad or not,” said Ironclad President Jeremy Smith. “We are committed to enabling legal teams with the products they need to drive tangible business impact, and we believe Jurist will make a lasting impact on the future of the legal field.”

To learn more about Jurist and try it for yourself, click here.

About Ironclad
Ironclad is the #1 contract lifecycle management platform for innovative companies, powering billions of contracts every year. L’Oréal, OpenAI, and other leading innovators use Ironclad to collaborate and negotiate on contracts, accelerate contracting while maintaining compliance, and turn contracts into critical carriers of operational business intelligence. It’s the only platform flexible enough to handle every type of contract workflow, whether a sales agreement, an HR agreement or a complex NDA. The company is backed by leading investors like Accel, Sequoia, Franklin Templeton, Y Combinator, and BOND. For more information, visit www.ironcladapp.com or follow us on LinkedIn and X.

Media Contact:
Paul Chalker
paul.chalker@ironcladhq.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/ironclad-launches-jurist-an-ai-powered-assistant-that-shows-its-work-302305858.html

SOURCE Ironclad Inc.

Continue Reading

Technology

Tom Atchison Honored as a Most Admired CEO by Denver Business Journal

Published

on

By

GREENWOOD VILLAGE, Colo., Nov. 14, 2024 /PRNewswire/ — National Corporate Housing is thrilled to announce that Tom Atchison, our esteemed Founder and Chief Executive Officer, has been honored with the Most Admired CEO Award by the Denver Business Journal. This prestigious award recognizes leaders in the Denver area who demonstrate exceptional leadership, vision, and community impact within their industries and beyond.

Under Tom’s visionary leadership, National Corporate Housing has achieved significant growth and success while maintaining a strong commitment to ethical business practices and a people-first culture. He has fostered an environment that prioritizes employee development, customer satisfaction, and industry-leading service.

“Tom exemplifies the highest standards of leadership, integrity, and Surprisingly Superior Service,” said Misty Gregarek, President of National Corporate Housing. “Part of what makes National so special is Tom’s incredible talent for identifying potential in people and providing them opportunities to excel. This recognition is a testament to his unwavering dedication to our company’s mission and to making a positive impact on our employees, customers, and the community.”

Tom was recognized along with 20 other executives Wednesday night at an award dinner at the Ritz Carlton in Denver. We congratulate Tom on this well-deserved honor and look forward to continued success under his exceptional leadership.

For media inquiries, please contact:
Heidi Hume, Vice President, Marketing
703-727-9124 | hhume@nationalcorporatehousing.com

About National Corporate Housing: At National, we turn complex temporary housing challenges into seamless solutions. As a global leader in customized corporate housing since 1999, we provide personalized, 360-degree services that ensure your employees feel at home, wherever they are in the world. With our extensive network and local expertise, we make the unfamiliar comfortable, delivering exceptional experiences that transform clients into lifelong partners.

View original content to download multimedia:https://www.prnewswire.com/news-releases/tom-atchison-honored-as-a-most-admired-ceo-by-denver-business-journal-302306087.html

SOURCE NATIONAL CORPORATE HOUSING

Continue Reading

Trending