Global Smart Water Purifier Market was Estimated to be US$ 2,540.43 Mn in 2018 and is Expected to Reach US$ 10,705.23 Mn by 2027 Growing at a CAGR of 17.5% Over the Forecast Period, Says Absolute Markets Insights

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PUNE, India, Feb. 25, 2020 /PRNewswire/ -- The global smart water purifier market is expected to gain significant traction with constant initiatives taken by market participants to integrate novel technologies in smart water purifiers. The smart water purification system is an upgraded version of conventional water purification systems and uses technologies such as reverse osmosis (RO), ultraviolet (UV), ultrafiltration (UF), Nanofiltration and Anti-bacterial filtration for water purification. Constant surge in the number of IoT-enabled devices is pushing market participants to introduce smart water purifiers that can be controlled and regulated with smartphones. These technological upgrades offer bluetooth, Wi-Fi, and smart apps connectivity with smart water purifier systems in order to increase user convenience. In addition, increasing rate of waterborne diseases due to consumption of contaminated water is one of the major concerns pushing market participants to introduce newer filtration concepts and purification models. Furthermore, rapid urbanization among developing nations, such as China, India, and Brazil along with the introduction of smart cities concept is anticipated to increase the adoption of IoT-enabled devices. Thus, such factors are expected to generate opportunities for market participants in smart water purifier market to expand and invest in these countries.

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Key participants in the global smart water purifier market are utilizing the concept of offering RO+UV based smart water purifiers that use RO as well as UV purification processes in order to meet the standards set by various governments on the quality of drinking water. For instance, in 2019, Xiaomi introduced Xiaomi Mi Smart Water Purifier (RO + UV) in India, which is equipped with a 5-step purification process and has real-time monitoring with two built-in TDS sensors. The Xiaomi Mi Smart Water Purifier enables users to access the data associated with smart water purifiers through the Mi Home app. Similarly, in 2019, OCEO introduced a smart water purifier that offers IoT-enabled water purification-as-a-service, with an aim to eradicate the heavy upfront costs, operational costs, and maintenance hassle. The water purifier uses internet-linked sensors to monitor and display water hardness level on the linked devices along with conventional water dispensing. Thus, such factors are projected to propel the smart water purifier market across the globe during the forecast period.

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The detailed research study provides qualitative and quantitative analysis of global smart water purifier market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Key Findings of the Report:

• In terms of revenue, global smart water purifier market was evaluated at US$ 2,540.43 Mn in 2018 and is expected to reach US$ 10,705.23 Mn by 2027 with a CAGR of 17.5%.
• On the basis of connectivity, Wi-Fi segment accounted for the largest market share in 2018. However, the smart app segment by connectivity is expected to grow at the highest CAGR during the forecast period. Key market participants in the smart water purifier market have a keen focus on delivering a water purifier that can provide the information associated with the quality and hardness of drinking water to the user. This is leading smart water purifier manufacturers to introduce water purifiers that can be tracked by the user through their smartphones in order to know the quality and capacity of drinking water in the tank.
• Based on region, North America accounted for the largest market share in 2018. However, Asia Pacific is expected to be the fastest growing region in the near future.
• Some of the players operating in the global smart water purifier 3M, A.O. Smith Corporation, Coway USA Inc., KENT RO Systems Ltd., OCEO, and Xiaomi among others. 

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Global Smart Water Purifier Market:

• By Connectivity
• Wi-Fi
• Bluetooth
• Smart App
• By Process
• Reverse Osmosis (RO)
• Ultra-Filtration (UF)
• Ultraviolet (UV)
• Activated Carbon
• Sediment Filter
• Nanofiltration
• Anti-Bacterial Filter
• By End User
• Residential
• Commercial
• By Geography
• North America
• United States
• Canada
• Mexico
• Europe
• France
• The UK
• Spain
• Germany
• Italy
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia Pacific
• Latin America
• Brazil
• Argentina
• Rest of Latin America
• Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of Middle East & Africa

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SOURCE Absolute Markets Insights