According to a market report by Lucintel, the future of the global smart climate control market looks promising with opportunities in the automotive, agriculture, and domestic applications. The global smart climate control market is expected to reach an estimated $9.9 billion by 2028 with a CAGR of 18.7% from 2023 to 2028. The major drivers for this market are increasing trend for smart homes integrated with smart gadgets to conveniently control their indoor climate, growing awareness among consumer towards energy conservation and rising preference for IoT enabled climate controllers across the globe.
Air purifiers, smart thermostats, and smart sensors are the major segments of smart climate control market by product type. Lucintel forecasts that smart thermostat segment is expected to witness the highest growth over the forecast period due to the significant demand for this device as it is simple to use and can be control via smartphone apps and it has capability to learn user preferences, design customized programs, and deliver energy savings outcomes.
Within this market, agriculture segment is expected to witness the highest growth over the forecast period due to considerable usage of a smart climate controller in greenhouse farming to maintain an ideal climatic condition for crop growth and it also helps in reducing the usage of water and energy resources.
APAC is expected to witness the highest growth over the forecast period due to rising concerns about climate change and air pollution and presence of supportive regulations to enhance air quality in the region.
Daikin Industry, Honeywell International, Dyson, Unilever, Koninklijke Philips NV, Iberdrola, and Cornflake are the major suppliers in the global smart climate control market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global smart climate control market by product type, application, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Smart Climate Control 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 the global smart climate control market by product type, application, and region, as follows:
Smart Climate Control Market by Product Type [Shipment Analysis by Value from 2017 to 2028]:
Air Purifiers
Smart Thermostats
Smart Sensors
Smart Climate Control Market by Application [Shipment Analysis by Value from 2017 to 2028]:
Automotive
Agriculture
Domestic Appliances
Others
Smart Climate Control Market by Region [Shipment Analysis by Value 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 climate control market by product type (air purifiers, smart thermostats, and smart sensors), application (automotive, agriculture, domestic appliances, and others), 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 has occurred in the last 5 years and what has its impact been on the industry?