SAN FRANCISCO, Aug. 14, 2019 /PRNewswire/ -- 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 suggestions from the report:
- 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
Read 80 page research report with TOC on "Smart Ceiling Fans Market Size, Share & Trends Analysis Report By Application (Residential, Commercial), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/smart-ceiling-fans-market
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.
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.
Grand View Research has segmented the global smart ceiling fans market on the basis of application, distribution channel, and region:
- Smart Ceiling Fans Application Outlook (Revenue, USD Million, 2015 - 2025)
- Smart Ceiling Fans Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
- Smart Ceiling Fans Region Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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