Press release
North America, Europe and Middle East & Africa Smart AC Controller Market will multiply at an impressive CAGR of 26% by 2024 & Top Key Players EGmbH, Sensibo, Thinkeco Inc., Flair Smart Vent, Ambi Labs, Honeywell International Inc., Nest Labs
With ongoing technological advancements, there is an increase in the investment in various electricity energy related research and development activities around the world. Apart from this, the rapid economic growth has led to a considerable increase in the size of the middle class and the increasing household incomes resulting in higher disposable incomes which has further made the consumers to feel financial stable and confident about both the overall condition of the economy and about their personal financial future which is driving them to purchase comfortable and luxurious consumer goods. These factors are believed to spur the growth of the smart AC controller market with a CAGR of 26.0% over the forecast period 2018-2025. Further, the market of smart AC controller is anticipated to achieve a Y-o-Y growth rate of 24.6% in 2025 and is predicted to reach USD 8,770.1 Million by the end of 2025 from USD 1,361.7 Million in 2017.
The smart AC controller market has been divided by connectivity into IR, IR + Bluetooth and others, out of which, the IR segment accounted for highest market share of around 38%, closely trailed by IR + Bluetooth segment with a share of around 37% during 2017. Further, the IR segment is expected to grow at a CAGR of 23.1% over the forecast period and is expected to achieve Y-o-Y growth rate of 21.7% in 2025. Moreover, the IR & Bluetooth segment is expected to expand at a CAGR of 29.0% over the forecast period 2018-2025.
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Rapid Technology Advancement to Escalate the Demand for Smart AC Controllers in Future
The smart AC controller market is thriving on the back of economic growth of consumers coupled with continuing technological advancements around the globe.
Rising Disposable Income – Rising disposable income coupled with evolving lifestyle of the consumers is anticipated to accelerate the growth of the smart ac controller market.
Development of Air Conditioning Technology – There is a boom in the market with rapid technological advancements such as control over temperature even from outdoors along with increasing acceptance of the consumers towards the smart AC controllers.
Industry Players’ are Progressing towards Minimizing the Barriers faced by the Smart AC Controller Market
According to Research Nester, the high cost and lower adoption rate of the smart AC controllers are the major factors which are envisioned to dampen the growth of the smart AC controller market across the globe. In addition to that, stringent government rules & regulations act as a barrier in design, innovation, implementation and production of the HVAC systems.
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The report titled “North America, Europe and Middle East & Africa Smart AC Controller Market Outlook: Industry Demand Analysis & Opportunity Assessment 2017–2025” delivers detailed overview of the smart AC controller market in terms of market segmentation by connectivity, application, distribution channel and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the smart AC controller market which includes company profiling of tado° GmbH, Sensibo, Thinkeco Inc., Flair Smart Vent, Ambi Labs, Honeywell International Inc., Nest Labs, LG Electronics, Ecobee, Carrier Corporation and Intesis Software S.L.U. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the smart AC controller market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Research Nester is a one-stop service provider with a client base in more than 120 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
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