PUBLISHER: The Business Research Company | PRODUCT CODE: 1695020
PUBLISHER: The Business Research Company | PRODUCT CODE: 1695020
A smart air conditioner is an air conditioning unit equipped with smart technology, allowing it to be controlled and monitored remotely via a smartphone, tablet, or other smart devices. It enables users to adjust temperature settings, schedule operation times, and monitor energy usage from anywhere.
The main products of smart air conditioners are split, window, portable, and other types. A split air conditioner is an air conditioning system that consists of two main parts, such as an outdoor unit housing the compressor and condenser and an indoor unit containing the evaporator coil and air handling unit. The various types of connectivity involved are wi-fi, Bluetooth, and other connectivity that has applications such as residential buildings, industrial buildings, and commercial buildings.
The main products of smart air conditioners are split, window, portable, and other types. A split air conditioner is an air conditioning system that consists of two main parts, such as an outdoor unit housing the compressor and condenser and an indoor unit containing the evaporator coil and air handling unit. The various types of connectivity involved are wi-fi, Bluetooth, and other connectivity that has applications such as residential buildings, industrial buildings, and commercial buildings.
The smart air conditioners market size has grown rapidly in recent years. It will grow from $18.74 billion in 2024 to $20.92 billion in 2025 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to growing consumer awareness of health and wellness, increasing urbanization, rising consumer demand for comfort, increased living standards, and development of energy-efficient and eco-friendly air conditioning solutions.
The smart air conditioners market size is expected to see rapid growth in the next few years. It will grow to $32.46 billion in 2029 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to growing construction sector, growing popularity of smart-homes, increasing disposable income of consumers, increasing consumer demand, and rising demand across commercial sectors. Major trends in the forecast period include integration of ai-driven features, advanced IoT connectivity, technological advancements, development of new products, and user-friendly interfaces.
The growing construction sector is expected to propel the growth of the smart air conditioner market going forward. The construction industry encompasses all activities related to planning, designing, constructing, and maintaining buildings, infrastructure, and other physical structures. The construction sector is experiencing growth due to increased infrastructure investment, urbanization trends, and demand for sustainable building solutions. As the construction sector participates in development, particularly in residential, commercial, and industrial projects, there will be a higher demand for HVAC (Heating, Ventilation, and Air Conditioning) systems, including smart air conditioners, to provide comfortable indoor environments. New construction projects often incorporate modern amenities and technologies, including smart home features, driving the adoption of smart air conditioners. For instance, in August 2023, according to a report published by the Office for National Statistics, a UK-based producer of official statistics, the estimated monthly construction output saw a 1.6% increase in volume in June 2023, attributed to rises in both new construction work (2.0%) and repair and maintenance activities (1.1%). The quarterly data for April to June 2023 compared to January to March 2023 showed a 0.3% increase in construction output. Notably, this increase was driven entirely by the performance in June 2023, where repair and maintenance activities saw a 0.9% uptick. Therefore, the growing construction sector is driving the growth of the smart air conditioner market.
Leading companies in the smart air conditioner market are increasingly incorporating advanced technologies like artificial intelligence (AI) and the Internet of Things (IoT) to improve energy efficiency and enhance user convenience. These innovations enable features such as predictive maintenance, which helps systems anticipate potential issues and optimize performance, ultimately reducing energy consumption and lowering costs. For example, in April 2024, India-based Voltas launched a new HVAC line at ACREX 2024 that integrates AI capabilities, allowing users to monitor and control their systems remotely via a mobile app. This innovation demonstrates Voltas' dedication to sustainability and energy efficiency, while also providing users with real-time insights and analytics on system performance and energy usage, significantly enhancing the overall user experience.
In July 2022, Carrier Global Corporation, a US-based heating, ventilation, and air conditioning (HVAC) system manufacturer, acquired the residential and light commercial HVAC business division of Toshiba Corporation for an undisclosed amount. With the acquisition, Carrier aims to achieve substantial avenues for growth within the rapidly expanding VRF and heat pump sectors, renowned for their energy efficiency. Further, this strategic move positions Carrier to thrive amidst evolving market trends and reinforces its commitment to delivering innovative solutions for a greener future. Toshiba Corporation is a Japan-based manufacturer of smart air conditioners.
Major companies operating in the smart air conditioners market are Samsung Electronics Co. Ltd., Robert Bosch GmbH, Hitachi Ltd., LG Electronics Inc., Panasonic Corporation, Haier Group Corporation, Midea Group Co. Ltd., Mitsubishi Electric Corporation, Toshiba Corporation, Gree Electric Appliances Inc., Daikin Industries Ltd., Johnson Controls International plc, Fujitsu General Ltd., Carrier Global Corporation, Whirlpool Corporation, Trane Technologies Plc, Electrolux AB, AUX Group Co. Ltd., Godrej Industries Limited, Lennox International Inc., Hisense Kelon Electrical Holdings Company Limited, Havells India Limited, Rheem Manufacturing Company, Blue Star Limited, Voltas Limited, Chigo Holding Ltd., Friedrich Air Conditioning Co. Ltd., Chunlan Group, Videocon Industries Limited, Bryant Ltd
Asia-Pacific was the largest region in the smart air conditioner market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the smart air conditioners market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the smart air conditioners market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The smart air conditioner market consists of sales of ductless mini-split, geothermal air conditioning system, hybrid or dual fuel air conditioner and evaporator coolers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart Air Conditioners Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart air conditioners market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart air conditioners ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart air conditioners market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.