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According to Technavio’s market research analysts, the global market for smart connected air conditioners will grow at a profound CAGR of over 60% by 2020. The rising popularity of smart gadgets that can convert conventional remote-controlled air conditioners into smart devices will aid in the strong growth of this market during the forecast period. Many consumers do not wish to buy a smart connected air conditioner just to upgrade their conventional air conditioners. To overcome this issue, many key players and start-ups have started developing smart accessories that can transform the user’s existing window, wall-mounted, and mobile air conditioners into devices that offer more convenience and comfort. For instance, a start-up recently launched a smart device called Sensibo, which can connect to the user’s smartphone and remotely control the settings of the unit and automates the home climate control with intelligent features, including location-based activation and timer settings.
In terms of geography, our analysts estimate the APAC region to be the largest region in terms of overall air conditioner sales. As a result, this region is anticipated to be a hot spot for large smart connected air conditioner players like LG and Samsung. During the forecast period, regions like Japan, Singapore, and Hong Kong are expected to witness a stark increase in the sales of smart appliances like smart connected air conditioners due to the hot climate in these countries and the growing awareness of smart integrated appliances.
This market is estimated to grow at a steady pace during the forecast period. Since many large and small players are investing significantly in smart appliances, the level of competition among them is expected to intensify over the next five years. This increase in the level of competition is leading to the introduction of new innovative machines, which will, in turn, affect the market’s landscape during the forecast period.
Key players in this market are -
Other prominent vendors in this market are Videocon, Voltas, FUJITSU GENERAL, Blue Star, Friedrich, and Electrolux.
At present, split air conditioners are probably the best and most preferred option for people living in urban areas. This product segment commands a high market share because of factors like its ease of use in areas where access to an outside window is restricted. During the predicted period, the demand for smart connected split air conditioners will increase as most consumers are already aware of the benefits of split air conditioners.
According to this market study, most consumers will prefer purchasing smart connected air conditioners from speciality retailers as they offer a large variety of brands, many product portfolios (brand specific or, multi-branded), and sell similar types of products across all outlets.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Segmentation by product type
PART 06: Market segmentation by distribution channel
PART 07: Geographical segmentation
PART 08: Key leading countries
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
PART 17: Explore Technavio
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