Smart Fan Market Report 2020, COVID-19 Impact, Market Trends, Share, Size and Forecast Till 2027

A fan is an electronic device that consists of blades which help the air to move faster and imparts cooling effect. Technology and innovation have contributed to the modern concept of smart homes therefore smart devices are capturing the market. A smart fan is an innovative technology that is steadily replacing the traditional fan. The basic structure of a smart fan is the same as that of a traditional fan but some innovative features have been added to it which has reduced human interaction and made it more user-friendly. The home appliances have been automated by adding new features such as various types of sensors, image processing techniques, Wi-Fi, and Bluetooth accessibility. An ordinary ceiling fan can also be converted to the Internet of Things device by incorporating smart fan control switch into it. The features of smart fans are broadly categorized into normal mode, auto mode, schedule mode, and security mode.

COVID-19 Scenario Analysis:
• The lockdown scenario caused due to the spread of the coronavirus has highly impacted the smart fan market as the sales and revenue of the market have fallen due to the loss of commercial sales.
• The production of smart fans has been hampered as the manufacturing units have to be shutdown. The key players like Orient Electric have resumed the operational units but the shortage of manpower has impacted the production.
• The main distribution channel for smart fans has been the specialty stores. The shutdown of the stores has led to a decrease in sales thus affecting the revenue. The non-availability of the technician for installing the smart fans is also a factor which has declined the sales.

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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The extensive advancement in technology has provided modern fans which control the temperature and improve home aesthetics. The face and voice detection application in the smart fan has improved its efficiency. Bluetooth connectivity, remote control, mobile applications, Alexa, and Google assistant have been associated with the smart fan as a controller. The surge in technology and innovation, improved features, inbuilt voltage stabilizer, face and voice detection, mobile connectivity, enhanced design and aesthetics, energy conservation, higher disposable income, improved safety of the product, technical proficiency, Internet of Things enabled fan and faster shift to the organized sector are the key drivers of the global smart fan market. However, limitations to the mainstream market, lack of awareness in the rural population, the presence of substitute products, and higher prices of the smart fan hinders the market growth. Whereas, investments in promotional activities, innovation in the product line, the requirement for controlling home climate and investment in the technology present new opportunities in the industry.

The global smart fan market trends are as follows:

Improved features of the smart fan

The multipurpose smart fan has created a new trend in the ceiling fan market. The innovative smart fans are more reliable due to their features such as temperature control, humidity control, automatic speed control, one-touch control, anti-dust, and antimicrobial free coating. The commercial use of smart fans has increased in the institutes, malls, and offices which have increased the market share. Recently, the urban population is also becoming aware of the smart devices, therefore the residential use of smart fans has provided a new opportunity to the leading brands for optimizing the product according to its use. Orient Electric has launched a smart fan with an inverter technology motor which increases the durability, reduces the motor noise, doubles the efficiency of operation, saves the electricity cost, and works on low voltage. Havells a leading brand in fast-moving electric goods and consumer durables has launched a new series of smart fan Carnesia-I ceiling fans which can adjust the fan speed by sensing the temperature and humidity.

The launch of a new series of smart fans has created a huge demand in the urban population. Less electricity utilization and improved connectivity augment the market growth. The leading brands have been investing more in the technological aspect of the smart fan and converting it into the Internet of Things device.

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Key Benefits of the Report:
• This study presents the analytical depiction of the global smart fan industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global smart fan market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global smart fan market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global smart fan market analysis based on competitive intensity and how the competition will take shape in the coming years.

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Regions covered North America (U.S. and Canada), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)

Companies covered Orient Electric Ltd., Hunter Fan Company, CG Power, Craftmade, Panasonic, Ottomate International, Delta T LLC, Fanimation, Havells India Ltd, Industrial Solutions Ltd, Minka Lighting Inc.

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