Increasing internet penetration, rising demand for smart household products and consumer-convenience products are driving the market growth of the smart ceiling fans market in the forecasted period.
According to TechSci Research report, “Smart Ceiling Fans Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”
The residential smart ceiling market is witnessing growth owing to the rising temperature and increasing consumers’ awareness about the product’s feasibility and effectiveness. Owing to the rising government initiatives to provide residential houses to citizens in different countries, it will ultimately lead to increased demand for smart ceiling fans in various countries.
The growing smart capabilities of smart ceiling fans, such as the ability to control them with voice commands using Alexa or the Google Assistant, together with the expanding technological developments made by various brands is aiding the market growth. Moreover, smart ceiling fans are equipped with Internet Of Things, allowing the consumer to handle and operate the temperature and speed of the smart ceiling fan. It is further projected that increasing market adoption of smart ceiling fans with LED lighting in innovative shapes and designs will fuel innovation. Manufacturers have stressed technical developments and cutting-edge fashions to meet consumer demand.
In the future, the market for smart ceiling fans is anticipated to rise due to a shift in customer preferences toward employing new technologies to streamline daily tasks. Additionally, during the projection period, the market for smart ceiling fans is anticipated to rise due to their ability to automatically modify their speed in response to changes in room temperature. Significant players have also begun to introduce intelligent ceiling fans with LED lighting and enhanced designs. In order to draw in a lot more customers, they are also promoting the technological developments occurring in their product range. Bladeless ceiling fans, for instance, are becoming more and more popular among consumers.
Smart ceiling fans are in high demand in the Asia Pacific region. The market is expected to develop as smart home appliances, such as smart ceiling fans that can be operated over the internet and smartphones, become more widely adopted. In the coming years, these factors are projected to provide the growth of the market for smart ceiling fans a considerable boost and open up new business prospects in the region.
Due to the provision of comprehensive instructions about installation and after-sale services by professionals, multi-branded stores currently hold the most significant market share in the sales channel and are further expected to continue to grow. Additionally, the convenience of finding appropriate product accessories has also been driving customers to these channels. The expansion of the online sales channel segment is expected to continue throughout the forecasted period due to middle-class consumers’ growing use of smartphones and the internet to make e-commerce purchases of home appliances. According to a United Nations Conference on Trade and Development report, global e-commerce sales jumped to USD26.7 trillion in 2019, which is 4% more compared to 2018.
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The smart ceiling fans market is segmented based on sweep size, end user, and sales channel. Based on sweep size, the market is divided into less than 500mm, 500-999mm, 1000-1500mm, and more than 1500mm. The market is further divided into commercial/industrial and residential based on end users. Based on sales channels, the market is fragmented into exclusive stores, hypermarkets & supermarkets, online, and others (distributors, dealers, etc.).
Key market players in the smart ceiling fans market include:
- Emerson Electric Co.
- Havells India Ltd.
- LG Electronics
- Minka Lighting, Inc.
- Orient Electric
- CG Power and Industrial Solutions Limited
- Ottomate International
- Delta T, LLC.
- Hunter Fan Company
- Modern Form
To capture a significant market share in the smart ceiling fans market, various brands have launched technologically advanced products to attract consumers. For example, Orient Electric launched IOT-enabled smart ceiling fans which provide benefits like 40% energy savings and low voltage operation capabilities. Moreover, it comes with different modes for catering to different consumer needs, such as turbo mode, reverse rotation, schedule on-off and sleep way, enabling the fan toauto-control the speed as per the requirement of the room and temperature.
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“The increasing popularity of smart household devices which can run in compatibility with each other, rising internet penetration, and changing consumer lifestyle due to rising per capita income are driving the global smart ceiling fans market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Smart Ceiling Fans Market By Sweep Size (Less than 500mm, 500-999mm, 1000-1500mm, More than 1500mm), By End User (Commercial/Industrial, Residential) By Sales Channel (Exclusive Stores, Hypermarket & Supermarket, Online Channels, Others (Distributors, Dealers etc.)), By Region, Competition, Forecast & Opportunities, 2018-2028F” has evaluated the future growth potential of smart ceiling fans market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in smart ceiling fans globally.
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