New York, March 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Smart Ceiling Fans Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" - https://www.reportlinker.com/p06438509/?utm_source=GNW
)), By Region, Competition
The global smart ceiling fans market is witnessing robust growth for multiple reasons, such as rising consumer awareness of smart electric appliances and their possible use. The rising urbanization and increasing awareness about smart products such as smart televisions, cooktops, lights, etc., influence the demand for smart ceiling fans in different regions. As per the data provided by World Bank in 2021, global urbanization is rising at an annual growth rate of 1.7%, considering that more than 57% of the total population is considered urbanized. Moreover, according to the data provided by World Bank, the global per capita income is rising at an annual growth rate of 4.8% which is increasing the consumer’s purchasing power. As per the data published by the Intergovernmental Panel on Climate Control (IPCC) in the Times of India, due to rising global warming, the earth’s average temperature has reached 1°C and will reach 1.5°C in the future. Moreover, air conditioners are a major contributor to global warming; thus, the rise in global warming will force consumers to switch to ceiling fans and other natural cooling methods which are eco-friendly in nature.
In the coming years, the market for smart ceiling fans is anticipated to rise due to customer preferences shifting 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.
The market is anticipated to expand due to key characteristics like advanced cooling capabilities, temperature control with automated sensors, and wireless connections. Moreover, the rising availability of easy payment options through online and offline channels is fueling the growth of global smart ceiling fans.
Growing Preference for Convenient Residential Products Are Aiding the Market Growth
The market is anticipated to be driven by customers’ changing lifestyles and growing preferences for efficient household items.It is projected that factors like increasing consumer acceptance of smart home equipment, such as Bluetooth and Wi-Fi-enabled smart ceiling fans, will drive market expansion.
Customers may easily control these gadgets, including smart ceiling fans, on their smartphones using compatible apps like Alexa and Google Assistant.These products also have advanced features such as humidity control, high ventilation, dust and aerial microorganism-free air, climate control, and energy saving, which is expected to accelerate market expansion.
Therefore, the rising demand for smart devices which can work in compatibility with other smart home devices is gaining popularity among consumers.
Increasing Smart Features in Ceiling Fans is Fueling the Market Growth
The various technological advancements and smart features such as voice detection through smartphones, inbuilt voltage stabilizer, smart design with increased sweep size, and connectivity through the internet of things are driving the market growth of smart ceiling fans in different countries.Moreover, the smart ceiling fans can be scheduled for a temperature favorable for the consumers and per their needs.
With the infusion of artificial intelligence, the fan can detect its regulation speed to create the required temperature in the room.Wireless connectivity, advanced cooling features, and automatic temperature control are just a few of the features of smart fans.
By installing the appropriate application, customers can easily operate these items. They can even use voice assistants like Google Assistant and Alexa to control the smart fans by pairing them with Bluetooth or Wi-Fi.
Rising Prices and Availability of Substitute Product Will Hamper the Market Growth
Due to the increasing demand for the product, various brands have entered the market, leading to the product’s rising prices. The availability of substitute products like air conditioners and air coolers, efficiently cooling at a faster rate, will hamper the market growth in the forecasted period.
Market Segmentation
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.
Based on the end user, the market is further divided into commercial/industrial and residential.Based on sales channels, the market is fragmented into exclusive stores, hypermarkets & supermarkets, online, and others, including distributors, dealers, etc.
The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Company Profiles
Emerson Electric Co., Havells India Ltd., LG Electronics, Inc., Minka Lighting, Inc., Orient Electric, CG Power and Industrial Solutions Limited, Ottomate International, Delta T, LLC., Hunter Fan Company, Modern Form are among the major market players in the global platform that lead the market growth of the global smart ceiling fans market.
Report Scope:
In this report, the global smart ceiling fans market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
• Global Smart Ceiling Fans Market, By Sweep Size:
o Less than 500mm
o 500-999mm
o 1000-1500mm
o More than 1500mm
• Global Smart Ceiling Fans Market, By End-User
o Residential
o Commercial/Industrial
• Global Smart Ceiling Fans Market, By Sales Channel:
o Exclusive Stores
o Hypermarket & Supermarket
o Online Channels
o Others
• Global Smart Ceiling Fans Market, By Region:
o North America
United States
Canada
Mexico
o Europe
France
Germany
United Kingdom
Italy
Spain
Netherlands
o Asia-Pacific
China
India
Japan
South Korea
Australia
Vietnam
o Middle East & Africa
Saudi Arabia
South Africa
UAE
Turkey
o South America
Brazil
Argentina
Colombia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global smart ceiling fans market.
Available Customizations:
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06438509/?utm_source=GNW
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