Smart ceiling fans, used in households and commercial complexes, are programmed products, which can work with the help of Bluetooth, Wi-Fi, and other medium. Consumers can operate these products through smartphones and voice commands.
Global Smart Ceiling Fan Market – Competition Landscape
Founded in 1939, Orient Electric is headquartered in New Delhi, India. It is a company under The CK Birla Group, with presence in 40 countries. Orient Electric has a wide distribution network with 125,000 retail outlets, 4,000 dealers, and a strong service network reaching 450 cities. Orient Electric also sells its products through online portals. The company has its presence in fan, lighting, home appliances, and switch gear segment. Under the fan segment, the company operates its product line through seven categories: lifestyle fans, ceiling fans, wall fans, stand fans, table fans, exhaust fans, and multi-utility fans.
Hunter Fan Company
Incorporated in 1886, Hunter Fan Company is headquartered in Tennessee, U.S. The company has operations across the globe with more than 100 distributers. It majorly produces ceiling fans and accessories. Some of the popular accessories under its product range are simple connect smart homes, controls, glass / shades, caps and finials, light kits, and fitters. Ceiling fans of Hunter Fan Company comes with different features including outdoor ceiling fans, fans with lights, low profile fans, fans with remote, simple connect smart fan, and sure speed guarantee.
Major companies operating in the global smart ceiling fan market are Orient Electric, Hunter Fan Company, CG Power, Ottomate International, Delta T LLC, Modern Form, Minka Lighting Inc., OCECO, Fanimation, Industrial Solutions Limited, and Havells India Ltd. Companies are investing in product innovation to increase their revenue in this growing market. For instance, in October 2018, India based Orient Electric, collaborated with Tata Elxsi. This strategic partnership is expected to improve Orient Electric’s research and development outcomes.
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Global Smart Ceiling Fan Market – Driver
Rising Consumer Demand For Technologically Advanced Convenient Products
Growing inclination for convenient residential products coupled with changing lifestyle of consumers is expected to be a major market driving factor. Companies are investing on technologically advanced products to match the market demand. Adoption rate of smart household appliances including smart ceiling fans which can be monitored with the help of Wi-Fi and Bluetooth is anticipated to propel the market growth.
Buyers can effortlessly operate these devices with the help of compatible applications such as Alexa and Google Assistant on their smartphones and operate smart ceiling fans. Moreover, these products come with advanced features including humidity control, dust and aerial microorganism free air and high ventilation, climate control, and energy saver which is set to boost market growth. Furthermore, smart ceiling fans with LED lights are projected to create a new avenue in the smart ceiling fan market.