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Smart Water Purifier Market Study 2022 – Share to Reach $2885.26 Million by 2028

Smart Water Purifier market drives major industry opportunities by organizational preference for cloud-based installations to overcome on-premises constraints.

NEW YORK, UNITED STATES, October 19, 2022 / -- 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.

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
No. of Pages - 174
No. of Tables - 115
No. of Charts & Figures - 93
Historical data available - Yes
Segments covered - Connectivity, Technology, End User, Sales Channel
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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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.

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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.
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.

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.

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.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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