Smart Air Conditioning Market Size was valued at USD 15.2 Billion in 2022. The Smart Air Conditioning market industry is projected to grow from USD 17.02 Billion in 2023 to USD 46.39 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.20% during the forecast period (2023 - 2032). Growing consumer demand for convenience, energy efficiency, and health-conscious features are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The smart air conditioning industry is undergoing a substantial paradigm shift propelled by technological progressions and an increasing emphasis on energy conservation. An emerging phenomenon in the field is the incorporation of Internet of Things (IoT) technology into HVAC systems. The Internet of Things facilitates uninterrupted communication and command, empowering individuals to remotely oversee and enhance their cooling systems via smartphones or other intelligent devices. The connectivity facilitates improved energy management, occupancy-based temperature adjustments, and data analytics to optimize utilization, leading to significant energy conservation and decreased operational expenses.
An additional development is the growing implementation of intelligent thermostats and sensors in air conditioning units. These devices offer automated temperature regulation and intelligence by adjusting to the preferences and behavior patterns of the user. By acquiring knowledge and refining cooling schedules, they are capable of enhancing both comfort and energy efficiency. In addition, machine learning and artificial intelligence (AI) are accelerating the development of predictive maintenance systems. By analyzing data from air conditioning units, AI algorithms are capable of forecasting potential malfunctions and optimizing maintenance schedules, thereby minimizing system outages and extending their lifespan.
Additionally, the integration of renewable energy sources with air conditioning systems is being propelled by a focus on eco-friendly and sustainable solutions. Geothermal systems and solar-powered air conditioning are gaining popularity as environmentally responsible alternatives with smaller carbon footprints. Furthermore, the proliferation of intelligent residential and commercial structures encourages the incorporation of air conditioning systems into larger smart home ecosystems. By seamlessly integrating with other intelligent devices and home automation systems, a comprehensive and intelligent strategy for cooling can be implemented, which optimizes energy consumption and improves the overall user experience. Thus surging the Smart Air Conditioning market revenue.
The Smart Air Conditioning Market segmentation, based on Product, includes Temperature Control, Humidity Control, Ventilation Control, and Integrated Control. Within the smart air conditioning market, temperature control category is the most significant segment, experiencing considerable expansion. Increasing demand for individualized and energy-efficient climate control solutions is one of the primary motivating factors. There is a growing demand among consumers for accurate temperature regulation in order to optimize comfort levels and minimize energy usage. Additionally, the incorporation of Internet of Things (IoT)-)-enabled devices and smart thermostats enables users to exert control and automation in real-time, thereby optimizing energy consumption and delivering personalized temperature settings.
The Smart Air Conditioning Market segmentation, based on Application, includes Residential Buildings, Industrial Buildings, and Commercial Buildings. The smart air conditioning market is dominated by the commercial buildings category, which is undergoing significant expansion. The expansion is driven by the growing emphasis on sustainability and energy efficiency within commercial environments. Organizations are highly motivated to minimize their carbon emissions and streamline their operations. By providing centralized control, real-time monitoring, and data analytics, intelligent air conditioning systems enable energy conservation and cost savings.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The Asia-Pacific Smart Air Conditioning Market is the largest in 2022, owing to a rising middle class, increased disposable income, and fast urbanization. Increasing demand for smart dwellings and a heightened consciousness regarding energy efficiency both contribute to the substantial expansion of this market in the region. Moreover, China’s Smart Air Conditioning market held the largest market share, and the Indian Smart Air Conditioning market was the fastest-growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
North American Smart Air Conditioning market accounts for the second-largest market share. A strong emphasis on energy efficiency, the growing adoption of IoT and smart home technologies, and the demand for environmentally responsible solutions are the driving forces. Increasing consumer consciousness and favorable government policies contribute to the expansion of the regional market.
The Europe Smart Air Conditioning Market is expected to grow at the fastest CAGR due to factors such as increased urbanization, rising temperatures, and a greater emphasis on energy efficiency. Proliferating middle-class populations and government initiatives endorsing sustainable technologies are substantial contributors to the region's accelerated adoption of intelligent air conditioning systems.
Leading market players in the highly competitive smart air conditioning market are constantly attempting to gain market dominance through mergers, strategic alliances, and product innovation. Market participants are undertaking important market developments, including technological advancements and geographic expansion.
Ongoing investments in R&D and a proactive stance towards sustainability and environmental impact serve to delineate the competitive environment within this swiftly progressing global Smart Air Conditioning industry. Major players in the Smart Air Conditioning market, including DAIKIN INDUSTRIES, Ltd. (Japan), Electrolux (Sweden), Carrier Corporation (U.S.), Hitachi, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), Panasonic Corporation (Japan), Voltas Ltd. (India), Johnson Controls (U.S.), TOSHIBA CORPORATION (Japan), FUJITSU GENERAL (Japan), Ingersoll-Rand plc (U.S.), ABS Aircon Engineers Private Limited (India), and LG Electronics(South Korea).
A worldwide leader in air conditioning and HVAC solutions, DAIKIN INDUSTRIES, Ltd. The organization is based in Osaka, Japan, and conducts business in more than 150 countries. Daikin is committed to providing environmentally sustainable, energy-efficient, and innovative solutions for refrigeration, ventilation, air conditioning, and heating. The assortment of their intelligent HVAC products comprises connected air conditioning systems, air purifiers, and smart thermostats. By means of IoT connectivity, these products are engineered to integrate into intelligent buildings and residences seamlessly; this facilitates energy optimization, intelligent temperature regulation, and remote monitoring, thereby augmenting both user comfort and environmental sustainability.
Electrolux is an industry leader in professional and household appliances worldwide. The organization is based in Stockholm, Sweden, and conducts business in over 150 markets. Electrolux is committed to developing innovative and environmentally friendly products, such as connected home appliances. Although they are recognized for a vast array of products, their clever air conditioning options demonstrate their dedication to both energy conservation and user satisfaction. These items consist of connected air conditioners that are furnished with intelligent functions such as energy monitoring, scheduling, and remote control. The intelligent air conditioning range utilizes Internet of Things (IoT)-)-enabled and intelligent technologies in an effort to increase consumer convenience and energy savings.
DAIKIN INDUSTRIES, Ltd. (Japan)
Electrolux (Sweden)
Carrier Corporation (U.S.)
Hitachi, Ltd. (Japan)
Mitsubishi Electric Corporation (Japan)
Panasonic Corporation (Japan)
Voltas Ltd. (India)
Johnson Controls (U.S.)
TOSHIBA CORPORATION (Japan)
FUJITSU GENERAL (Japan)
Ingersoll-Rand plc (U.S.)
ABS Aircon Engineers Private Limited (India)
LG Electronics(South Korea)
Feb 2023: In India, Hisense has introduced its most recent line of air conditioners. The company has introduced two AC series: IntelliPro and CoolingXpert. In addition to several notable attributes, including WIFI Voice Control and 5-in-1 Convertible Pro, the recently introduced air conditioners also include a compressor warranty of ten years.
January 2021: A prominent Fast-Moving Electrical Goods (FMEG) manufacturer, Havells India Limited, announced today the launch of its Intelli-Logic air conditioner series in Kochi under the Lloyd consumer durable brand. Patented technology in the air conditioner takes into account the intense humidity of coastal environments when designing it. It automatically adjusts and regulates the relative humidity (RH) to the most comfortable level, which is between 40% and 55% RH, and provides ideal cooling at the desired temperature.
Temperature Control
Humidity Control
Ventilation Control
Integrated Control
Residential Buildings
Industrial Buildings
Commercial Buildings
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 15.2 Billion |
| Market Size 2023 | USD 17.02 Billion |
| Market Size 2032 | USD 46.39 Billion |
| Compound Annual Growth Rate (CAGR) | 13.20% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | DAIKIN INDUSTRIES, Ltd. (Japan), Electrolux (Sweden), Carrier Corporation (U.S.), Hitachi, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), Panasonic Corporation (Japan), Voltas Ltd. (India), Johnson Controls (U.S.), TOSHIBA CORPORATION (Japan), FUJITSU GENERAL (Japan), Ingersoll-Rand plc (U.S.), ABS Aircon Engineers Private Limited (India), and LG Electronics (South Korea) |
| Key Market Opportunities | Obesity in children, healthier and more balanced diets |
| Key Market Dynamics | Increase in health difficulties and worries, leading to costly operations |
Smart Air Conditioning Market Highlights:
Frequently Asked Questions (FAQ) :
The Smart Air Conditioning Market size was valued at USD 15.2 Billion in 2022.
The global market is projected to grow at a CAGR of 13.20% during the forecast period, 2023-2032.
Asia Pacific had the largest share of the global market
The key players in the market are DAIKIN INDUSTRIES, Ltd. (Japan), Electrolux (Sweden), Carrier Corporation (U.S.), Hitachi, Ltd. (Japan), Mitsubishi Electric Corporation(Japan), Panasonic Corporation (Japan), Voltas Ltd. (India), Johnson Controls (U.S.), TOSHIBA CORPORATION (Japan), FUJITSU GENERAL (Japan), Ingersoll-Rand plc (U.S.), ABS Aircon Engineers Private Limited (India), and LG Electronics(South Korea).
The temperature control category dominated the market in 2022.
The commercial buildings had the largest share in the global market.
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Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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