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The smart room heater market size is forecast to increase by USD 699.4 million, at a CAGR of 10.95% between 2023 and 2028. The growth of the market depends on several factors such as the innovation in features and user interfaces, the growing smart home and smart appliance adoption, and the convenience to the customers for ease of use.
The report offers extensive research analysis on the Smart Room Heater Market, with a categorization based on Type, including without connectivity and with connectivity. It further segments the market by Distribution Channel, encompassing offline and online. Additionally, the report provides Region segmentation, covering APAC, Europe, North America, Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD million) for all the mentioned segments.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the smart room heater market growth is the convenience to the customers for ease of use. There is an increasing adoption of modern smart appliances as they are easy to use and convenient for customers who look for faster, convenient options. In addition, users can control the appliances from anywhere in the house with just a click on their smartphones. Furthermore, smart-connected electrical appliances can be controlled through a mobile application, in which different controls are provided.
Moreover, the mobile application also notifies the users of the status of their appliances. Remote access convenience is a significant factor in the high demand for smart room heaters. In addition, smart electronic devices reduce the human effort involved daily by allowing integration with mobile apps and other interfaces that record, monitor, and control temperatures in accordance with the surrounding environment. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the smart room heater market growth is the rise of multifunctional compact products. The rapidly evolving technology has made enhanced product quality and user-friendly designs necessary. Therefore, there is an increased trend for developing multifunctional compact home automation products with simple programming platforms. Furthermore, multifunctional compact products also reduce electricity consumption.
Moreover, smart-connected devices regularly calculate electricity consumption and regulate electricity usage based on actual needs. In addition, smart technology enables multifunctional products to analyze peak and non-peak hours and turn themselves on and off. Furthermore, this helps save on utility bills and conserve energy. Hence, such factors are driving the market growth during the forecast period.
Sensor and app malfunction in smart room heaters are one of the key challenges hindering the smart room heater market growth. Smart room heaters may face operational problems due to the malfunctioning sensor app, hampering the effectiveness, and safety measures intended to enhance user experience. For instance, a smart room heater that has a temperature sensor and an associated smartphone app for remote management.
Moreover, inaccuracies in temperature readings could result from problems with the sensor app, which could cause inaccurate adjustments or make it impossible to maintain the required temperature. In addition, users may find this uncomfortable, particularly in situations where exact temperature control is essential, like in severe weather. Hence, such factors are negatively impacting the market which in turn hinders the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Smart Room Heater Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bromic Group: The company offers smart room heaters such as Platinum smart heat BH0320003, Platinum smart heat BH0320007, and Platinum smart heat BH0320019.
The research report also includes detailed analyses of the competitive landscape of the market and information about 23 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The without connectivity segment is estimated to witness significant growth during the forecast period. A smart room heater without connection segment operates independently without the network connectivity requirement. Even though they are controlled directly on the device, they may still contain sophisticated features like safety features, thermostats, and programmable timers.
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The without connectivity segment was the largest segment and was valued at USD 480.23 million in 2018. Moreover, the growing demand for smart homes and smart integrated appliances is a major driver behind the growth of the smart room heater market. In addition, manufacturers of appliances, including smart room heaters, are primarily investing in North America, Europe, and Asia Pacific. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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Europe is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in Europe will grow significantly as residential consumers continue to invest in smart room heaters to complement their centralized heating systems. In addition, as centralized space heating utilizes a significant amount of energy, consumers are investing in heating appliances that can mitigate their energy expenses. Moreover, while gas has been the major fuel used for space heating appliances, consumers are increasingly looking toward smart room heaters that work on electricity. In addition, De Longhi S.p.A and Honeywell International Inc. are prominent multinational companies in the market. Furthermore, the high penetration of smartphones and the Internet in the country will aid in the adoption of smart home appliances in the coming years. Hence, such factors are driving the market growth in Europe during the forecast period.
The smart room heater market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Smart Room Heater Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.95% |
Market Growth 2024-2028 |
USD 699.4 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.91 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 34% |
Key countries |
US, Japan, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alphabet Inc., Bromic Group, Crane USA, De Longhi S.p.A, Dr. Infrared Heater, Dyson Technology India Pvt. Ltd., Energy Wise Solutions, Hon Hai Precision Industry Co. Ltd., Honeywell International Inc., King Electric, Lasko Products LLC, Mill International AS, Mogli Labs Pvt. Ltd., Orient Electric Ltd, Pelonis Technologies Inc., STIEBEL ELTRON GmbH and Co. KG, SUNHEAT International, tado GmbH, The Home Depot Inc., V Sun Electronics and Appliances, Vornado Air LLC, WARMEX, and ZunRoof Tech Pvt Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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