LONDON–(BUSINESS WIRE)–Nov 3, 2020–
The global smart room heater market size is poised to grow by USD 788.47 million during 2020-2024, progressing at a CAGR of almost 17% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Smart Room Heater Market 2020-2024 (Graphic: Business Wire)
The smart room heater market is driven by the innovations in features and user interfaces. Smart room heaters available in the market now come with features such as easy-to-use digital control panels on touchscreen interfaces and built-in energy-saving function. A growing number of these products also now offer Wi-Fi and 3G/4G connectivity and can be controlled remotely through mobile apps. Using these mobile apps, customers can program daily schedules for the heater’s functioning, and the heater will maintain the temperatures that the users desire throughout the day. These smart heaters can also detect the presence or absence of people in the room and switch on or off. This reduces energy consumption as well as associated costs.
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- The major smart room heater market growth came from the without connectivity segment in 2019, it is expected to witness the fastest growth during the next five years. This is primarily because of the increasing adoption of smart room heaters by residential consumers owing to the changing lifestyles and growing preference for comfort.
- Europe was the largest smart home heater market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to new product innovations such as the launch of smart connected space and room heaters.
- The global smart room heater market is fragmented. American Comfort Direct LLC, Crane – USA, DeLonghi Spa, Dr. Infrared Heater, Dyson Ltd., Honeywell International Inc., Lasko Products LLC, Sunbeam Products Inc., SUNHEAT INTERNATIONAL, and Supply Chain Sources LLC. are some of the major market participants. To help clients improve their market position, this smart room heater market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the smart room heater market 2020-2024 is expected to have negative growth. As the pandemic spreads in some regions and plateaus in other regions, we continue to revaluate the impact on businesses and update our report forecasts.
Read the full report here:https://www.technavio.com/report/smart-room-heater-market-industry-analysis
Growing Smart Home and Smart Appliance Adoption will be a Key Market Trend
The constant need for a convenient and comfortable lifestyle among homeowners has led to the rapid development of home automation systems and products. Convenience and comfort are an integral part of a smart home. With home automation systems, smart home users can keep a check on the security systems, lighting, heating, and entertainment systems of the house. In addition, home automation systems enable monitoring and control of all appliances with the help of a controller accessed through the internet. Many players also offer home automation systems with remote access through smartphones and other mobile computing devices. Thus, smart home and smart appliances are increasingly being adopted, which will drive the growth of the market.
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Smart Room Heater Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist smart room heater market growth during the next five years
- Estimation of the smart room heater market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the smart room heater market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of smart room heater market vendors
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Distribution channel
Market Segmentation by Type
- Market segments
- Comparison by Type
- Without connectivity – Market size and forecast 2019-2024
- Connected – Market size and forecast 2019-2024
- Market opportunity by Type
- Geographic segmentation
- Geographic comparison
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers – demand-led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- American Comfort Direct LLC
- Crane – USA
- DeLonghi Spa
- Dr. Infrared Heater
- Dyson Ltd.
- Honeywell International Inc.
- Lasko Products LLC
- Sunbeam Products Inc.
- SUNHEAT INTERNATIONAL
- Supply Chain Sources LLC
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 11/03/2020 06:45 PM/DISC: 11/03/2020 06:45 PM
Copyright Business Wire 2020.