What can vapers and other vape industry observers expect to see in the coming years? Learn about the future of vaping in this month's featured blog post.
What would you see if you were to roll back the clock about 50 years? You would find far more people smoking cigarettes and using tobacco than there were any non-smokers.
And, back then, if I would have told you that the future of smoking were to eventually become electronic, you would have most likely laughed in my face.
Since then, however, things have changed. People have learned the hard way that smoking cigarettes is highly addictive and detrimental to their health. And today, we have developed much safer, better ways of consuming nicotine. This includes vaping, which offers the same effects as smoking tobacco, but with far fewer health risks.
In the following article, we're exploring the future of vaping, including everything you can expect to see happening in the market in coming years.
What Is The Future Of Vaping?
With the trend of vaping still on the rise, it's safe to say that, in the future, we should expect to see quite a bit in terms of innovative. New brands, new devices, and new features will improve flavour delivery, as well as the overall experience of using a handheld vaping device.
In general, the vape industry remains strong and is only expected to see increased growth in coming years. But what other changes should we expect to see in the future?
The Internet of Things (IoT)
In the past decade of so, we've seem countless advancements in terms of technology. And today, there are more electronic devices than ever that are compatible with wireless internet connections and Bluetooth.
The Internet of things is described as a network of everyday appliances and devices that have been implanted with microchips, sensors, and other types of software that allow them to communicate with one another via the internet.
In the future, it's safe to say that we'll most likely start seeing vape devices and products that are also increasingly compatible with the internet and other types of wireless connections. In fact, some of the most modern vape mods already feature Bluetooth connectivity to allow their users to remotely lock or unlock their devices.
These types of technological advances will likely be used to improve battery and charging capabilities, useability, etc.
Two years ago in 2019, the global vape market was estimated to sit somewhere just above the $12 billion mark. Due to increased demand since then, the global industry is currently estimated to grow with a compound annual growth rate (CAGR) of just under 24%. By the end of 2021, the industry is expected to reach a market cap of roughly $20 billion, and by the end of 2022, experts believe this number could possibly be up to $30 billion.
As a result, we should expect to see companies increasing production and many new companies hitting the market. Especially online stores and eCommerce shops, such as VapeGears.
Although there are still health risks associate with vaping, it's still considerably safer and less harmful than smoking tobacco. Therefore, expect to see increased awareness among younger generations, and more smokers switching to vaping.
Laws And Regulations
When vaping first took the world by storm in the early to mid 2000s, there were very few, if any laws or regulations surrounding the manufacture or product of vape products and devices.
In recent years, we've seen many public institutions, such as the FDA begin to monitor the industry more closely. Including overseeing both the production of vaping devices and related products like e-juice. And the promotion of such products to the public.
Therefore, we should expect to see more laws and regulations being developed to oversee the industry as a whole.
Some might argue that the develop of laws and regulations might harm vape companies. However, regulatory compliance only ensures safer products, user safety, and an overall better experience.
The Next Generation Of Vape Devices
The very first generation of vape devices hit the markets back in 2004. These devices were small, and were designed to resembled actual cigarettes.
These devices often had shorter battery lives and there were very few options available in terms of flavours. Therefore, they were not the most user-friendly or convenient types of vape devices to use.
Eventually, there came the second and third generation vape devices. These devices are larger and more user-friendly. Thus providing better, longer lasting batteries, bigger tank capacities, digital displays, and a range of other options to control temperature and wattage.
We should now be expecting a 4th generation of vapes, mods, and devices, where Wi-Fi and Bluetooth compatibility will be commonplace. Other high-tech features, such as voice controls and facial recognition software might also be seen in the near future.
Either way, vapers can expect more innovative, high-tech vape mods and devices in the not-so-far future.
More Smokers Will Take Up Vaping
Another major shift that we expect to see in coming years will be an increasing number of cigarette smokers taking up vaping as a way to either quit using nicotine. Or to simply diminish the negative health effects of their nicotine use.
This shift is primarily due to increased awareness of the harmful effects of smoking tobacco, as well as its highly addictive nature.
When vaping, users can limit their nicotine intake by using e-juices with lower concentrations, or by using nicotine-free e-juices.
Either way, vaping represents a ideal path to harm reduction. And, although it may not be completely risk free, it's still a significantly safer way to consume nicotine.
The Future Of A Vaping As An Industry
Many of today's leading vape manufacturers, including Vaporesso, Innokin, and others will likely will continue to dominate the industry.
However, we should expect to see many new companies and mergers happening in the industry in the coming years.
As it stands, the industry as a whole continues to do well, and should remain strong well into the future.