Smart cooling system consists of smart refrigerators and smart air-conditioners. End users can easily monitor, control and optimize these cooling systems from a remote location via any connected devices. Smart cooling system is projected to huge growth potential for prominent players due to the increase in a number of internets and smart products users.
Smart Cooling Systems Market Report, published by Allied Market Research, forecasts that the global market is expected to garner USD 137,548 million by 2022, registering a CAGR of 52.4 percent during the period 2014 – 2022.
The demand for smart cooling systems is gaining traction, especially from residential and commercial sectors owing to an increase in need for effective and efficient cooling systems in smart cities and data centers, respectively. This trend is projected to continue in the future and drive market growth.
Europe was the highest revenue contributor in 2014, accounting for around 35 percent share of the overall smart cooling systems market size. The Asia-Pacific market is projected to grow at the highest CAGR of 59.1 percent during the forecast period owing to increased penetration of smart air-conditioners and smart refrigerators in residential as well as commercial sectors.
High Impacting Factors:
• Technological advancement and increased awareness
• Changing Lifestyle and a consumer shift towards smart cooling systems
• Increase in adoption of smart cooling systems
• The rise in demand for efficient smart cooling systems
• High initial investment
• Lack of supportive programs especially in emerging markets
• Smart homes in emerging markets
• Tie-ups or long term contracts with government
• The study provides an in-depth analysis of the global smart cooling systems market along with current trends and future estimations to elucidate the imminent investment pockets.
• Current and future trends are outlined to determine the overall attractiveness and to single out profitable trends to gain a stronger foothold in the smart cooling systems market.
• The report provides information of key drivers, restraints, and opportunities along with their impact analysis.
• Quantitative analysis of the current market and forecast for the period of 2014‐2022 is provided to highlight the financial appetency of the smart cooling systems market.
• Porter’s Five Forces analysis illustrates the potency of buyers and suppliers that participate in the market.
• Value chain analysis provides a clear understanding on the roles of stakeholders.
Some of the key players operating in the smart cooling systems market include Mitsubishi Electric Corporation, LG Electronics Ltd., Samsung Electronics Co. Ltd., Videocon Industries Ltd., Daikin Industries Ltd., Voltas Ltd., Fujitsu General Ltd., Blue Star Ltd., Friedrich Air Conditioning Co., Ltd., and Electrolux AB.―Open PR