According to a market report by Lucintel, the future of the smart air condition market looks promising with opportunities in residential, commercial, and industrial applications. The global smart air condition market is expected to reach an estimated $12.0 billion by 2028 with a CAGR of 11.0% from 2023 to 2028. The major drivers for this market are rapid penetration of internet of things (IoT) across the globe, growing popularity of smart homes, and increasing inclination towards the adoption of energy-efficient air conditioners for reducing costs and power wastage.
In this market, temperature control, humidity control, ventilation control, and integrated control are the major systems. Lucintel forecasts that temperature control will remain the largest system segment over the forecast period due to the evolution of monitoring systems and intelligent technology and adoption of natural refrigerants, like CO2.
Within this market, residential is expected to witness the highest growth due to rapid urbanization and changing standard of living of people coupled with increasing demand for energy-efficient products.
APAC is expected to remain the largest region during the forecast period due to rapid urbanization, increasing disposable income levels, and global warming factors that are leading to rising temperature in this region.
Daikin Industries, LG Electronics, Haier, Mitsubishi Electric, Samsung Electronics, Hitachi, Voltas, FUJITSU GENERAL, Blue star, and Electrolux are the major suppliers in the global smart air condition market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for global smart air condition market by system, type, application, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities for Global Smart Air Condition Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for smart air condition market by system, type, application, and region, as follows:
Smart Air Condition Market by System [Value ($B) Shipment Analysis from 2017 to 2028]:
Temperature Control
Humidity Control
Ventilation Control
Integrated Control
Smart Air Condition Market by Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Window AC
Split AC
Packaged AC
Central AC
Smart Air Condition Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
Residential
Commercial
Industrial
Smart Air Condition Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at
helpdesk@lucintel.com.
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This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the global smart air condition market by system (temperature control, humidity control, ventilation control, and integrated control), type (window AC, split AC, packaged AC, and central AC), application (residential, commercial, and industrial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity did occur in the last five years and how did they impact the industry?