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.
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The COVID-19 pandemic has had a considerable impact on the Air Conditioning market. The spread of COVID-19 had a detrimental influence on the market due to supply chain disruptions as a result of protracted plant closures around the world. The COVID-19 pandemic has broken out, and the situation is still uncertain. However, there are facts to consider. AC is a highly seasonal sales product and the manufacturers have been adversely impacted by the Covid-19 outbreak along with the lockdown imposed by the government as the sales have come to grinding halt during the peak sales season. During the first wave of the pandemic in March 2020, manufacturers faced were left with high inventory and no sales.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Smart Air Conditioning Market – Segmentation
By Type
- Split Air Conditioner
- Window Air Conditioner
- Packaged Air Conditioner
- Central Air Conditioning System
By End-User
- Residential
- Commercial
- Other
Global Smart Air Conditioning Market by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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.
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