Global smart AC controller market marked a growth of 28.0% in 2018. Moreover, the market is expected to flourish at a CAGR of 26.0% and is likely to garner USD 8,770.1 Million by the end of 2025. Factors such as increasing disposable income coupled with evolving lifestyle of the consumers is projected to accelerate the growth of the global smart AC controller market.
Additionally, rapid economic growth has led to a considerable increase in the size of the middle class and the growing household incomes resulting in higher disposable incomes. Further, this factor is expected to increase the growth of smart AC controller market over the forecast period i.e. 2018-2025.
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Further, the market of smart AC controller is anticipated to achieve a Y-o-Y growth rate of 24.6% in 2025 as compared to the previous year. Further, growing technological advancements is expected to spur the growth of smart AC controller market over the forecast period.
North America is expected to notable modest growth over the forecast period i.e. 2018-2025 by registering a CAGR of 25.0% over the forecast period. Further, the market is expected to account USD 1,140.1 Million by 2025 from USD 187.9 Million in 2017. U.S. is the major contributor to the growth of North America smart AC controller market. U.S. smart AC controller accounted for a market share of 97.0% in 2017 and further, is expected to increase to a market share of 96.9% by the end of 2025.
Europe smart AC controller market is projected to reach to a valuation of USD 587.6 Million by the end of 2025 from USD 96.7 Million in 2017
Global smart AC controller market is segmented by connectivity into IR, IR + Bluetooth and others. IR segment accounted for USD 527.3 Million in 2017. Further, IR segment is expected to grow at a CAGR of 23.1% over the forecast period. Moreover, the market of IR smart AC controller is expected to achieve Y-o-Y growth rate of 21.7% in 2025 as compared to previous year.
Additionally, global smart AC controller market is segmented by application into split AC, window AC, portable AC and others. The market of split AC in smart AC controller is projected to garner USD 5,709.3 Million by the end of 2025 from USD 887.9 Million in 2017. Split AC smart AC controller market is anticipated to grow at a CAGR of 25.9% over the forecast period. Moreover, the market of split AC is expected to achieve Y-o-Y growth rate of 24.6% in 2025 as compared to previous year.
Tado° GmbH, Honeywell International Inc., LG Electronics, Ambi Labs and Sensibo are some of the prominent players of smart AC controller market.
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This post was originally published on Business Analytics