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Smart AC Controllers Market : Global Demand Analysis & Opportunity Outlook 2024

Published On : October, 2018 REP-ID-400 Category: ICT & Electronics

Smart AC Controllers Market Overview

Smart AC controllers are used to make any common air conditioner smart whether in terms of convenience, efficiency or effectiveness. These smart AC controllers are usually installed with those air conditioners which are operated by remote. Smart AC controllers allow the owner to control AC either from inside or somewhere outside by using smartphones, remotes or through internet. Rising concerns about convenience among consumers are driving the need for smart ac controllers. Further, major players such as LG Electronics and PG&E are developing smart AC controllers which are anticipated to offer more convenience to consumers and to make the normal air conditioner more efficient in terms of operating cost.

Market Size & Forecast

Global smart AC controllers market is anticipated to witness a robust growth over the forecast period 2017-2024. Rising growth of global air conditioning market is expected to propel the demand for smart AC controllers globally over the forecast period. In terms of region, global smart AC controllers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Asia-Pacific emerges as leading region in global smart AC device market due to the rising population density and increasing disposable income of the consumers. Further, heavy adoption of air conditioner in Asia Pacific region is expected to escalate the demand for smart AC controllers in this region over the forecast period.

smart AC Controllers

Apart from this, North America region is the second leading market for smart AC controllers and is projected to witness a remarkable growth of smart device market over the forecast period owing to the factors such as consumers preference of living in controlled weather coupled with high adoption rate of modern technologies in this region. In addition to this, the Europe is expected to witness a satisfactory growth over the forecast period due to economic growth of countries of Europe region.

 

 

Market Segmentation

Our-in depth analysis of the global smart AC controllers market includes the following segments:

By Distribution Channel

  • Direct Sales
  • Distributors
  • E-business

By Region

Global smart AC controllers market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East) Market size, Y-O-Y growth & Opportunity Analysis

Growth Drivers & Challenges

Global smart AC controllers market is driven by various factors such as rising disposable income of consumers and their inclination towards luxurious life style. Smart AC device offers various features such as smartphone control and remote-free operation. Such factors are driving the growth of global smart AC controllers market. In addition to this, smart AC controllers can control the weather system of air conditioner and reduce electricity consumption rate of the air conditioner. These factors are likely to drive the growth of global smart AC controllers market. Apart from this, rising adoption of air conditioner across the globe is a major driver which is expected to escalate the demand for smart AC controllers over the forecast period. 

In North America, consumers are used to live in controlled weather and their rising inclination towards the smart AC controllers is anticipated to drive the growth of global smart AC controllers market over the forecast period. Moreover, leading players such LG and Samsung are increasing investment for technological advancement of smart AC controllers. Rapidly changing climate conditions all over the globe is also a major factor driving the growth of global smart AC controller market. However, high cost of smart AC controllers is major challenge which is likely to hinder the growth of global smart ac controllers market.

Key Players

  • LG Electronics Inc.
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Samsung
  • Tado
  • Sensibo
  • Thinkeco Inc.
  • Keen
  • Ecovent
  • Flair Smart Vent
  • Geoclima

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