Smart Air Conditioning Market: Global Industry Analysis and Opportunity Assessment, 2019 – 2023

Global Smart Air Conditioning Industry

New Study On “2019-2023 Smart Air Conditioning Market Global Key Player, Demand, Growth, Opportunities and Analysis Forecast” Added to Wise Guy Reports Database

Air conditioning is a process of removing heat and moisture from a space, by cooling the area. Smart Air conditioners are connected ACs. Smart AC can be operated remotely by internet facility using a mobile application or other means of communication. Smart AC can be turned on or off by a mobile application while the AC remain connected to the Wi-Fi system. Now, the smart speaker is also compatible with an air conditioner in order to provide more convenience and comfort.
The utilization of the air conditioning has increased in the developing countries due to the increase in the disposable income of individual and lifestyle changes. Increasing temperature on the earth due to global warming is also one of the major factors augmenting the need of smart AC globally. Rising adoption of smart homes in developed economies and the introduction of smart AC compatible devices such as smartphones and smart speakers is one of the factors augmenting the market growth. The companies also use connected AC as one of the unique selling point (USP) of their products in order to increase their sells.

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Smart ACs are utilized in different sectors such as domestic sectors, commercial sectors & industrial sectors. An increase in demand for smart ACs will be observed in all sector due to lesser energy consumption. However, there are certain factors that restrain the market such as rising energy consumption & increasing in electric price, change in regulatory actions, and higher price as compared to standard air conditioners. An air conditioner can increase up to 30-40% electricity bill at a domestic or commercial place. Change in regulatory policies such as the prohibition of some refrigerant is also affecting the market. Additionally, the price of smart AC is comparatively higher to standard AC, therefore, it will face a restraint in the price-sensitive market such as India and China in the initial phase.
Global smart air conditioning market is segmented on the basis of type, refrigerant type, and end-user. By type, the market has been segmented into spilt air conditioner, window air conditioner, chillers, packaged air conditioner, and central air conditioning system. Split AC is expected to show a significant growth in the near future due to rising adoption of smart AC in the residential area. By refrigerant type, the market is segmented into HCFC, HFC, HFO, and natural refrigerant. Government regulations on refrigerants are forcing the manufacturers to develop energy efficient and eco-friendly products. There have been many technological developments observed in the market due to phasing out of key refrigerants. Once the most preferred refrigerants CFCs will be completely replaced by other refrigerants in the next few years. Similarly, HCFC is also phasing out and completely replaced by HFCs and other refrigerants in near future. Manufacturers are moving towards eco-friendlier alternatives such as HFOs and natural refrigerants. By end-user, the market has been segmented into residential, commercial, industrial and other such as healthcare facilities. It is expected that the residential sector will have a share in smart the AC market.
Geographically, the global smart air conditioning market is divided into North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific represents the largest market and is considered to be the fastest developing market in the global market. The demand in air conditioning systems in Asia-Pacific is expected to be driven by Japan, China, and India. The market is expected to grow due to significant growth in disposable income, urbanization and high temperature of the region. Moreover, the technological advancement in air conditioning is expected to drive the demand for air conditioning systems during the forecast period. North America and Europe are also expected to have a significant market due to high disposable income and increasing adoption of smart homes in the region.
Some of the key players operating in the global smart air conditioning market are Blue Star Ltd., Daikin Industries Ltd., Haier Electronics Group Co., Ltd., Ingersoll-Rand PLC, Johnson Controls – Hitachi Air Conditioning, LG Electronics Inc., Mitsubishi Electric Corporation, Samsung Electronics Co., Ltd., United Technologies Corporation, and Voltas Ltd., among others. In order to sustain in the competitive market, these players adopt various strategies such as merger and acquisitions, expansions, joint ventures, and product development. As an instance, to increase their market share in India, Samsung Electronics launched Wind-Free Room AC and System AC in February 2018. The AC has Wind-Free Cooling technology which provides cooler indoor climate and optimal energy efficiency. The price of the AC in India is ranging from $745 to $1,100.
Research methodology
The market study of smart air conditioning market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, a country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
Secondary sources include
• Financial reports of companies involved in the market
• Annual shipments of the smart AC
• New product launch
• Climate change in a particular region
• The average cost of smart AC at a regional level
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
The report is intended to air conditioner manufacturer, e-commerce companies, government organization, venture capitalists for overall market analysis and competitive analysis. The report provides an in-depth analysis of pricing, market size, intended quality of the product preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Market segmentation
Global smart air conditioning market is segmented on the basis of regional outlook and following segments:
1. Global Smart Air Conditioning Market Research and Analysis, By Type
2. Global Smart Air Conditioning Market Research and Analysis, By Refrigerant Type
3. Global Smart Air Conditioning Market Research and Analysis, By End-User
4. Global Smart Air Conditioning Market Research and Analysis, By Region
THE REPORT COVERS
• Comprehensive research methodology of global smart air conditioning market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global smart air conditioning market.
• Insights about market determinants which are stimulating the global smart air conditioning market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.
Companies Mentioned
1. Ambi Labs.
2. Blue Star Ltd.
3. Daikin Industries Ltd.
4. Danfoss A/S
5. ETA General Pvt Ltd
6. Godrej Appliances Ltd.
7. Gree Electric Appliances Inc.
8. Haier Electronics Group Co., Ltd.
9. Indiegogo, Inc.
10. Ingersoll-Rand PLC
11. Johnson Controls – Hitachi Air Conditioning.
12. LG Electronics Inc.
13. Mitsubishi Electric Corp.
14. Nortek Environmental, Inc.
15. Panasonic Corporation
16. Premium Home Comfort Inc.
17. Robert Bosch GmbH
18. Samsung Electronics Co., Ltd.
19. Sharp Corp.
20. Toshiba Corp.
21. United Technologies Corp.
22. Voltas Ltd.
23. Whirlpool Corp.

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Some Major Points from Table of content:

CHAPTER 1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
1.2.3. By Stakeholders
CHAPTER 2. Market Overview and Insights
2.1. Definition
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendation
2.2.3. Conclusion
2.3. Regulations
CHAPTER 3. Market Determinants
3.1. Motivators
3.1.1.1. Growing Population and Urbanization
3.1.1.2. Rising Average Temperature is Increasing Demand of Air Conditioners
3.1.1.3. Growing Adoption of Smart Homes and Smart AC Compatible Devices Such as Smartphones and Smart speaker
3.2. Restraints
3.2.1.1. Higher Price as Compared to Standard Air Conditioners
3.3. Opportunities
3.3.1.1. Rising Trend of Centralized Air-Conditioning
CHAPTER 4. Market Segmentation
4.1. Global Smart Air Conditioning Market by Type
4.1.1. Spilt Air Conditioner
4.1.2. Window Air Conditioner
4.1.3. Chillers
4.1.4. Packaged Air Conditioner
4.1.5. Central Air Conditioning System
4.2. 4.4. Global Smart Air Conditioning Market by Refrigerant Type
4.2.1. HCFC
4.2.2. HFC
4.2.3. HFO
4.2.4. Natural Refrigerant
4.3. Global Smart Air Conditioning Market by End-User
4.3.1. Residential
4.3.2. Commercial
4.3.3. Industrial
4.3.4. Other (Healthcare Facilities)

CHAPTER 5. Competitive Landscape
5.1. Key Strategy Analysis
5.2. Key Company Analysis
CHAPTER 6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. RoE
6.3. Asia-Pacific
6.3.1. India
6.3.2. China
6.3.3. Japan
6.3.4. Rest of Asia-Pacific
6.4. Rest of the World

Continued….

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