The IoT enabled fans market is anticipated to record a CAGR of around 17% during the forecast period i.e. 2019-2027. By distribution channel, the zero-level segment is anticipated to have significant growth on account of technological advancements and increasing use of energy efficient appliances.
Various technological advancements are being done in the products with the changing market conditions. People can use IoT enabled fans through internet. Escalating internet penetration is leading to rise in adoption for smart devices which is expected to boost the growth of the IoT enabled fans market.
Consumer preferences for increased convenience
Increasing trend towards purchasing a product that contributes to making the people’s hectic life easier and relaxing is expected to increase the demand for IoT enabled fans. Consumer preferences for increased convenience is expected to boost the growth of the IoT enabled fans.
According to a recently published report by Research Nester on “IoT Enabled Fans Market: Global Demand Analysis & Opportunity Outlook 2027”delivers detailed overview of the IoT Enabled Fans Market in terms of market segmentation by type, by distribution channel, by price range, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The IoT enable fans market is segmented by type, distribution channel, price range, end user and region. Based on type, the market is segmented into axial, propeller and centrifugal. On the basis of distribution channel, the market is segmented into zero level, one level, two level and three level. On the basis of price range, the market is segmented into low, medium, high. Further, on the basis of end user, the market is segmented into customer IoT and Industrial IoT.
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The IoT enabled fans are next generation home appliances equipped with advanced features of receiving, processing and transmitting information using smartphones, laptops and tablets.
North America is expected to grow at a high rate on the back of the quick technological advancements. Asia- Pacific is expected to grow significantly on the back of rising energy and labor costs, high purchasing power of consumers and greater awareness about smart cities and integrated appliances.
However, high cost of maintenance and lack of awareness are expected to be the major restraints towards the growth of IoT enabled fans market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the IoT Enabled Fans Market which includes company profiling of LG Electronics, Havells India Limited and Orient Electric. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the IoT Enabled Fans Market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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