According to a recently published report by Research Nester on “Global IoT Enabled Fans Market Outlook: Industry Insights & Opportunity Assessment 2019–2027” delivers detailed overview of the global IoT enabled fans market in terms of market segmentation by type, by distribution channel, by price range, by end user 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.
It has been notified that people are inclining towards buying the technology that contributes to making their hectic life easier and relaxing which is expected to increase the demand for IoT enabled fans. Rising internet penetration and escalation in the adopting of smart devices is estimated to boost the growth of the global IoT enabled fans market with a CAGR of 17% over the period 2019-2027.
The global IoT enabled fans market is segmented by price range & distribution channel. The zero-level distribution channel segment is anticipated to have significant growth owing to technological advancements and increasing use of energy efficient appliances. The type segment is divided into axial, propeller and centrifugal. The distribution channel segment is divided into zero level, one level, two level and three level. Price range segment is divided into low, medium, high. Further, the end user segment is divided into customer IoT and Industrial IoT.
Improvement in the Lifestyle of the People to Boost the Demand for IoT Enabled Fans in the Future
The global IoT enabled fans market is thriving on the back of increase in the disposable income of individuals as they are switching towards smart living.
Rising cost of energy- World population is increasing which is leading to increased consumption of energy sources leading to rise in the cost of energy. According to the U.S. Energy Information Administration, the global energy demand is expected to increase by nearly 37% by 2035. In such a scenario, the adoption of IoT enabled fans is expected to increase as they facilitate the real-time communication to operate at low frequencies or shift the operations time to off-peak periods.
North America is expected to grow at a high rate on the back of the quick technological advancements. Asia- Pacific is expected to grow significantly on the back of rising energy and labor costs, high purchasing power of consumers and greater awareness about smart cities and integrated appliances.
The cost of maintenance of IoT enabled fans is high as every IoT enabled device has its own life as well as their parts. People are not aware about the IoT technology and its uses and benefits which will inhibit the growth of the global IoT enabled fans market.
This report also provides the existing competitive scenario of some of the key players of the global IoT enabled fans market which includes company profiling of LG Electronics, Havells India Limited and Orient Electric.
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 global IoT enabled fans 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.