Smart Ceiling Fans Market Analysis Report By Application, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global smart ceiling fans market size was accounted for USD 698.4 million in 2018. This growth can be attributed to the rising demand for electronic appliances among the millennial population. Moreover, features like ease of installation, handling, and operation through devices like smartphones and tablets are expected to drive the market demand in the upcoming years.   

The shifting of the trend among the consumers for using new technology to ease the operational activity is expected to drive the market growth of smart ceiling fans in the upcoming years.  Moreover, the feature to automatically adjust its speed by sensing the room temperature is expected to drive the market growth for smart ceiling fans over the forecast period.

Salient features like advanced cooling functions, temperature control with automatic sensors, and wireless connections are expected to drive market growth. Consumers can control these fans by downloading the app from Alexa or Google Assistant.  These fans also maintain ventilation and humidity in the room thereby providing comfort to the residents.

Key players have also started launching smart ceiling fans with LED lights and improved design. They are also focusing on technological advances being made in their product line to attract several customers. For example, bladeless ceiling fans are also gaining popularity among consumers. However, higher prices of smart fans as compared to the rest of their types are expected to act as a hindrance in the market growth.  

Distribution Channel Insights

In 2018, the offline segment of the distribution channel held the highest share of around 80% across the global market. This growth can be attributed to the preference for physical verification of product before making the purchase decision coupled with the presence of store assistants to guide about specifications, installations, and support services. Moreover, ease of availability of accessories across stores and supermarkets is expected to pave the way for the market growth of smart ceiling fans. 

The online channel of distribution is expected to register a CAGR exceeding 6.0% from 2019 to 2025.  This growth can be attributed to the rising influence of smartphones, the internet, and e-commerce platforms among the millennial population. Moreover, an increasing number of e-retailers and company-owned online portals is anticipated to drive the market from 2019 to 2025.

Application Insights

In 2018, the residential application segment held the highest share of around 80% across the global ceiling fan market. This growth can be attributed to the rising adoption of smart electric appliances in homes. Moreover, other features like energy savers, automatic adaptability to room-specific climate, and silent sound are anticipated to drive the demand for such products. The Ottomate has also launched a Smart Fan in 2019 that could be connected with Bluetooth. It also adjusts the airflow automatically by sensing the room temperature.

The commercial application segment is anticipated to witness the highest growth with a CAGR of 5.5% across the global market. Multiple fans can be operated at the same time owing to the emergence of new technologies. Thus, such an application segment is anticipated to register significant growth owing to its use in offices, malls, and manufacturing facilities. Manufacturers have also started launching products that can cater to the commercial application segment thereby driving the market growth in the upcoming years.  

Regional Insights

In 2018, Asia Pacific held the highest share exceeding 60% of the global smart ceiling fans market. This growth can be attributed to rising populations across countries like China and India coupled with rising disposable income among the millennial population. Moreover, the hot and humid climate in the south region is expected to drive the market growth for ceiling fans across the globe.

The major players in this business have started expanding their business across this region owing to rising demand among the middle-class population. For example, LG Electronics launched its Fan product in May 2019 that is compatible with LG SmartThinQ and Amazon Alexa. In addition, it is equipped with a feature that keeps the mosquitoes away.     

Smart Ceiling Fans Market Share Insights

The market for smart ceiling fans includes key players such as Orient Electric; Hunter Fan Company; Ottomate International; Delta T, LLC; Fanimation; Modern Form; Havells India Ltd.; and OCECO. These players are continuously engaged in product development and innovation to gain a competitive advantage over other players. For example, Orient Electric had partnered with Tata Elxsi in 2018 to boost their product performance. Additionally, they had launched an Ecogale ceiling fan that consumed power of 32 Watts as compared to other fans that consume 70 Watts.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For this study, Million Insights has segmented the global smart ceiling fans market report based on application, distribution channel, and region:

• Application Outlook (Revenue, USD Million, 2015 - 2025)
    • Residential
    • Commercial

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Offline
    • Online

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
    • the Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East and Africa
        • South Africa