Global smart air conditioner market was valued at US$ 11,809 Mn in 2019 and it is expected to reach at US$ 25,869 Mn by 2025
Published | 17 December 2019
According to BlueWeave Consulting, The Global Smart Air Conditioners Market is expected to grow with a significant rate during the forecast period 2020-2025 owing to the rise in disposable income of consumers and their inclination towards luxurious life style will boost Smart Air Conditioner market in upcoming years. Moreover, the major factor driving the market growth will be the features of smart AC such as controllability using smart phones and remote-free operations. Furthermore, properties of smart AC such as controlling the weather system of air conditioner and reduced electricity consumption rate will be accelerating the growth of Smart Air Conditioners market.
Additionally, utilization of smart AC in different sectors such as domestic, commercial & industrial will contribute to the growth of Smart Air Conditioners during the forecast period. Furthermore, rise in demand of smart AC in various sectors for lesser energy consumption in comparison to conventional AC will augment the global Smart AC market in upcoming periods. Furthermore, the rise in popularity of smart gadgets which has the capability of replacing conventional remote-controlled air conditioners into smart devices, will aid in the smart AC market during the forecast period.
Split Product type of Smart Air Conditioner market is projected to lead the segment of the overall market during the forecast period
On the basis of Product type, the Smart Air Conditioner market has been segmented into Window AC, Split AC, Packaged AC, and Central AC. Split AC dominates the global Smart Air Conditioner owing to its growing demand in residential and commercial sector which is useful in energy efficiency. Central AC market will drive by its application in big spaces like mall, big factories etc.
Residential segment is projected to lead the industry for utilizing applications of Smart Air Conditioners during forecast period
On the basis of application, the global Smart Air Conditioner market has been segmented into Commercial, Residential and others. By application type, residential segment will be leading the market owing to changes in standard of living and rapid urbanization coupled with demand of energy-efficient products. Commercial segment will influence the market by its properties such as power saving and energy-efficiency.
Asia Pacific will account for the lion’s share of the global Smart Air Conditioners market during the anticipated period.
On the basis of region, the Smart Air Conditioners market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Asia Pacific will dominate the world Smart Air Conditioners market over the forecast period owing to rapid urbanization, technical advancement and changes in standard of living in these regions. North America will boost by frequent adoption of internet- based home appliances due to presence of major AC manufactures in this region.
Global Smart Air Conditioners Market Competitive Landscape
Companies such as Blue Star Ltd, Daikin industries, LG Electronics, Haier, Mitsubishi Electric, Samsung Electronics, Videocon, Voltas, FUJITSU GENERAL, Blue star, Friedrich, Electrolux, Carrier, Panasonic, York, Hitachi, Trane, Gree, Midea, Chunlan, Chigo, AUX, Hisense Kelon, Ingersoll-Rand PLC, Godrej Appliances Ltd., . Robert Bosch GmbH, Toshiba Corp., Whirlpool Corp, and United Technologies Corporation, are the key players in manufacturing of Smart Air Conditioner.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global Smart Air Conditioners Market size & forecast. The report promises to provide state-of-the-art technology of Smart Air Conditioners production and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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