A Look into Smart Ceiling Fans Industry……Deep Analysis…..


The global smart ceiling fans market size is expected to reach USD 993.6 million by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 5.2% during the forecast period. Rising demand for convenient products coupled with rapid adoption of advanced technology is projected to drive the growth. Furthermore, introduction of innovative features such as climate control coupled with ease of operation, and energy-efficiency is anticipated to fuel the demand for smart fans.
Key competitors in the smart ceiling fans market include Hunter Fan Company; Orient Electric; Delta T, LLC.; Ottomate International; Modern Form; Minka Lighting Inc.; OCECO; Fanimation; Havells India Ltd.; and CG Power and Industrial Solutions Limited. Over the past few years, the companies have been focusing on product innovation to boost their market share. Product launches in terms of, bladeless ceiling fans and LED light fixtures, among others are projected to gain massive traction in the forthcoming years. In December 2017, Exhale Europe launched a bladeless fan that evenly allocates the air in the entire room.
Residential application segment held the largest market share exceeding 80% in terms of revenue in 2018. Rising adoption of smart home appliances in developing economies including China and India is expected to promote the growth. The silent and energy-saving features of these products boost the product demand. Smart fans complement the smart and modern home interiors. This factor is anticipated to further propel the regional application segment.
Online channel is expected to witness the fastest CAGR of over 6% from 2019 to 2025. Over the past few years, the sales of home appliances through e-commerce have increased significantly. Furthermore, the hassle-free shopping experience of online channels is expected to promote the growth of the segment.
Asia Pacific held the largest market share of over 60% in terms of revenue in 2018. Rising purchasing power of the consumers from developing economies, including China and India is anticipated to bode well for the adoption of smart integrated appliances in this region. Additionally, product innovation by key companies including Orient Electric and Havells among others is projected to drive regional market growth in near future.
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https://www.grandviewresearch.com/industry-analysis/smart-ceiling-fans-market/request/rs4
Further key findings from the report suggest:
·         Commercial segment is expected to register the fastest CAGR of 5.5% from 2019 to 2025, attributed to the increasing product demand owing to the features such as energy-efficiency and automatic temperature control
·         Residential application segment held the largest market share of more than 80% in 2018
·         Asia Pacific led the smart ceiling fans market, accounting for more than 60% of revenue share in 2018. Presence of a large number of middle-class population in key markets including China and India is expected to open new growth avenues in near future
·         Online channel is expected to expand at the fastest CAGR of over 6% from 2019 to 2025
Changing consumers lifestyle and rising inclination for convenience and latest technology are some of the major factors driving the demand for smart ceiling fans. Rising adoption of smart household appliances including smart ceiling fans that can be controlled through internet and smartphones, is anticipated to drive the growth.
Smart fans have wireless connection, advanced cooling functions, and automatic temperature control among other features. Consumers can effortlessly operate these products by downloading the compatible app including Google Assistant and Alexa on their mobile phones and connecting them through Bluetooth or Wi-Fi. The consumers can maintain appropriate humidity, ventilation, and keep the air free from dust and aerial microorganisms with the help of these fans. The advanced features such as climate control and energy-efficiency have been encouraging consumers to opt for these products.
Rising adoption of smart ceiling fans with LED lights in innovative styles and designs is anticipated to drive innovation in the market. The manufactures have been emphasizing on technological advancements and innovative styles to cater to the consumer demand. For instance, the introduction of bladeless ceiling fan has been gaining significant popularity in modern homes. However, the relatively high price of smart fans compared to their conventional counterparts is expected to hamper the smart ceiling fans market growth.
Offline distribution channel accounted the largest market share of more than 80% in 2018. Consumer preference for brick and mortar distribution channels, especially the specialty stores, due to the provision of detail instructions about installation and after-sale services by the professionals, is anticipated to fuel the segment growth. Furthermore, the easy availability of compatible product accessories has been attracting buyers to purchase from these channels.
Browse Press Release of this report:                                
https://www.grandviewresearch.com/press-release/global-smart-ceiling-fans-market
Online distribution channel segment is anticipated to expand at a CAGR of more than 6% from 2019 to 2025. Rising spending on e-commerce for purchasing home appliances among middle-income population due to rising use of smartphones and internet is anticipated to drive the segment growth. In addition, growth of online retailers, especially company-owned shopping portals, such as Ottomate International, Orient Electric Limited, and LG Electronics among others is expected to speed up the online sales in the upcoming years.
Grand View Research has segmented the global smart ceiling fans market on the basis of application, distribution channel:
Smart Ceiling Fans Application Outlook (Revenue, USD Million, 2015 - 2025)
·         Residential
·         Commercial
Smart Ceiling Fans Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
·         Offline
·         Online
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.





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