The global smart air conditioning market is growing at a considerable CAGR of 11.2% during the forecast period. Increasing population and urbanization is one of the prime factors affecting and driving the market. Increasing adoption associated with smart air conditioner compatible devices that include smartphones and smart speaker is also estimated to be the prime factors that are contributing significantly towards the growth of the market. However, high cost involvement as compared with standard air conditioners is major factors constraints that are hindering the growth of the global smart air conditioning market across the globe. 

However, technology advancement by manufacturers is one of the key factors that are creating opportunity for the market. New product launches in the market are likely to drive the growth of the global smart air conditioning market. For instance, in June 2020, Johnson Controls–Hitachi Air Conditioning had announced to bring air Cloud IoT suite for residential users and professionals with the help of app and digital services. The air cloud provides support in making home air conditioning easy with the use of smart phone app along with voice control that includes google and amazon alexa smart speakers.

Impact of COVID-19 on the Global Smart Air Conditioning Market

The global smart air conditioning market is hardly hit by the COVID-19 pandemic since December 2019. The COVID-19 pandemic in the major economies had disrupted the manufacturing and transportation activities. Moreover, the production paused due to the COVID-19 pandemic in the China which is one of the largest producers along with exporter of input materials to other region for making finished goods had also impacted the market growth. Some of the companies have also been affected such as Haier Inc., LG Electronics, Panasonic Corp., and Samsung among others due to lockdown restrictions. However, the company had taken all the necessary steps for the purpose of reducing the adverse impact of this COVID-19 pandemic.

Segmental Outlook 

The market is segmented based on type and end-user. Based on type, the market is segmented into split air conditioner, window air conditioner, packaged air conditioner and central air conditioning system. Further, by end-user, market is segmented into residential, commercial and other.

Global Smart Air Conditioning Market Share by Type 2020 (%)

Based on the type, the split air conditioner holds a significant share in the market. The demand for split air conditioner is increasing due to easier installation process and higher energy efficiency along with growing adoption of smart air conditioner in residential area. Moreover, offering by the companies of mini split air conditioners that are WiFi enabled that permits the user to control the air conditioner virtually from anywhere through any iOS or Android phone is also supporting the growth of the segment.

Regional Outlooks

The global smart air conditioning market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America held a considerable share in 2020 in the global smart air conditioning market. Some factors that are boosting the market growth in North America are growing adoption of smart devices such as smart speakers and smart phone, leading manufactures and players present in the region. Additionally, high disposable income is other factors that are promoting the growth of the market. 

Global Smart Air Conditioning Market, by Region 2021-2027

Asia-Pacific will have Considerable Growth in the Global Smart Air Conditioning Market  

Asia-Pacific region is expected to witness significant growth opportunities for the market. Increasing government initiatives for adoption of energy efficient devices for decreasing the energy consumption along with advancement in technology in emerging economies of the region are likely to drive the growth of the regional market. Further due to increasing usage of air conditioners in India, China and South Korea are also some of the factors that are affecting and impacting the growth in this market. 

Market Player Outlook

Key players of the global smart air conditioning market are Daikin Industries, Ltd., Johnson Controls–Hitachi Air Conditioning, LG Electronics, Panasonic Corp., and Samsung among others. To survive in the market, these players adopt different marketing strategies such as product launches. For instance, in April 2021, one of the providers of air conditioner and home appliances company named as Gree Electric Appliances, Inc. had announced to introduce smart home appliances that are having high efficiency to be offered at amazon US. Moreover, its window air conditioner provides I FEEL smart temperature control design for the purpose of adjusting indoor temperature more accurately. 

In January 2021, Samsung had launched its 2021 range of air conditioners that constitutes 51 models around a price range of $516.4 to $1270.0 that can be purchased through online and offline channels. One of the models named as Convertible 5-in-1 Inverter AC is having smart and AI attributes for the purpose of providing convenience to customers.

In July 2020, DAIKIN INDUSTRIES, Ltd. had brought its Daikin Smartsource dedicated outdoor air system (DOAS) that provides efficient along with cost effective cooling in every condition.

In March 2020, Whirlpool of India that is a subsidiary of Whirlpool had introduced its range of 3D cool inverter air conditioners that is equipped with 3D cool technology that supports in providing 60% cooling even in 50 degrees temperature. Additionally, it can be operated through google home along with Wi-Fi and it will cost around $414.1 for the consumers. 

In May 2019, Samsung had introduced one of its new air conditioner named as AR9500M wall-mounted air conditioner. This air conditioner is equipped with wind-free cooling technology that enables itself for the purpose of cooling every corner of room. Additionally, it allows the user to operate air conditioners anywhere and anytime through smartphones and application. 

The Report Covers

    • Market value data analysis of 2020 and forecast to 2027.

    • Annualized market revenues ($ million) for each market segment.

    • Country-wise analysis of major geographical regions.

    • Key companies operating in the global smart air conditioning market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

    • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

    • Analysis of market-entry and market expansion strategies.

    • Competitive strategies by identifying ‘who-stands-where in the market.