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Smart Air Conditioning Market is expected to reach USD 46.39 Billion by 2032, at a CAGR of 13.20% during the forecast period 2023-2032.

Dec 14, 2023 7:00 PM ET

Smart Air Conditioning Market is expected to reach USD 46.39 Billion by 2032, at a CAGR of 13.20% during the forecast period 2023-2032.

The smart air conditioning market demonstrates significant growth potential. Growing consumer preference for convenience, energy efficiency, and health-conscious features would drive the market growth. Market Research Future (MRFR) states that the global smart air conditioning market is forecasted to escalate from USD 15.2 BN in 2022 to USD 46.39 BN by 2032, posting a 13.20% CAGR throughout the assessment period (2023-2032).

Major Players 

Leading smart air conditioning market players are

  • Electrolux
  • Daikin Industries Ltd.
  • Carrier Corporation
  • Mitsubishi Electric Corporation
  • Hitachi, Ltd.
  • Panasonic Corporation
  • Johnson Controls
  • Voltas Ltd.
  • Toshiba Corporation
  • Ingersoll-Rand plc
  • Fujitsu General
  • LG Electronics
  • ABS Aircon Engineers Private Limited and others.

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The wide availability of wireless solutions and rapid economic growth worldwide are major driving forces. Besides, factors such as vast advances in sensors & technologies, smart connected devices, and substantial R&D investments boost the smart air conditioning market size. The growth Influx in the home automation solution market and the vast penetration of smartphones would offer significant opportunities.

With the proliferation of the smart home concept, the market is projected to witness a boom on a larger scale in the years to come. There are enough innovations and new levels of connectivity advances. Furthermore, technological advancements in smart devices and the growing Internet of Things (IoT) penetration foster market growth. On the other hand, cybersecurity concerns would restrict the market growth.  

Smart Air Conditioning Market – Segments

The market report is segmented into products, applications, and regions. The product segment is sub-segmented into temperature control, humidity control, ventilation control, and integrated control. The application segment is bifurcated into residential, industrial, and commercial buildings. By region, the smart air conditioning market is segmented into the Asia-Pacific, Americas, MEA, Europe, and the rest of the world.

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Global Smart Air Conditioning Market – Regional Analysis

The Asia-Pacific region dominates the global smart air conditioning market. Increased disposable income and fast urbanization are major factors boosting the smart air conditioning market size in the region. Besides, the increasing demand for smart dwellings and a heightened consciousness regarding energy efficiency contribute to the smart air conditioning market revenues. 

The growing sales of smart appliances, mainly in the home segment and rapid economic growth bolster the smart air conditioning market value. Also, the increasing popularity and declining prices of smart air conditioning due to the concentration of manufacturers and technological advances positively impact regional market growth. China, Japan, India, India, and South Korea are key markets for smart air conditioning in this region.

Smart Air Conditioning Market – Competitive Landscape

The smart air conditioning market appears fragmented due to the presence of various notable players. These players accentuate on product development and strategic approaches, such as collaborations, expansion, mergers & acquisitions, and product launches, to maintain their market positions. Smart air conditioner manufacturers invest significantly to drive R&D activities and expand required technologies. 

Industry/ Innovation/ Related News

On Sept. 06, 2023 — Fujitsu General Australia and Fujitsu General New Zealand announced their partnerships with a leading climate technology IoT company, Sensibo, to provide smart home air conditioning (AC) solutions. The strategic partnership will further strengthen Fujitsu General’s anywAiR technology product lineup, integrating Sensibo’s technology into Fujitsu General’s air conditioners and heat pumps.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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