LONDON--(BUSINESS WIRE)--The global smart ceiling fans market is expected to grow by USD 59.74 million as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 2%.
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The smart ceiling fans market is driven by new product launches. In addition, the introduction of smart bladeless ceiling fans is anticipated to boost the growth of the smart ceiling fans market.
Vendors in the market are focusing on the development of new smart ceiling fans with innovative features to expand their product portfolios. For instance, in September 2019, LG Electronics Inc. launched IoT-enabled ceiling fans with LED displays in India. The product featured an advanced inverter motor that offers increased durability, safety, and reliability. Also, these smart ceiling fans were equipped with Wi-Fi and compatible with Google Assistant and Amazon Alexa. Similarly, in January 2020, Luxaire launched Lux 5130, an IoT-enabled smart fan with brushless DC motor technology, remote-control operation, reverse rotation, and various fan speed modes. The product can be controlled through an app and voice assistants such as Google Assistant and Amazon Alexa. Such innovative product launches are helping vendors attract new customers and increase their market share. This is one of the key factors driving the growth of the global smart ceiling fans market.
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Major Five Smart Ceiling Fans Companies:
Delta T LLC
Delta T LLC operates its business through a unified segment. The company offers smart ceiling fans such as Haiku.
Fanimation
Fanimation operates its business through a unified segment. The company offers a wide range of smart ceiling fans such as Spitfire, SculptAire, TriAire Custom 72, among others.
Havells India Ltd.
Havells India Ltd. operates its business through segments such as Switchgears, Cables, Lighting and Fixtures, Electrical Consumer Durables, and Lloyd Consumer. The company offers a wide range of smart ceiling fans such as 1200 mm Pearl Brown-LT Copper FHCCNPMPBT48, 1200 mm Pearl White-LT Copper FHCCNPMPLC48, and 1200 mm Pearl White Gold FHCCNPMPWG48, under its brand CARNESIA I.
Honeywell International Inc.
Honeywell International Inc. operates its business through segments such as Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The company offers smart ceiling fan products such as Honeywell Rio Ceiling Fan, Brushed Nickel Finish.
Hunter Fan Co.
Hunter Fan Co. operates its business through segments such as Ceiling Fans, Ceiling Lights, and Accessories. The company offers Hunter SIMPLEconnect Wi-Fi fan, whose speed and dimmable light can be controlled with the SIMPLEconnect app.
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Smart Ceiling Fans Market End-user Outlook (Revenue, USD Million, 2020-2024)
- Residential
- Commercial
Smart Ceiling Fans Market Geography Outlook (Revenue, USD Million, 2020-2024)
- APAC
- North America
- Europe
- South America
- MEA
Smart Ceiling Fans Market Distribution channel Outlook (Revenue, USD Million, 2020-2024)
- Offline
- Online
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