Rapid evolution of smart technology is just the tip of the iceberg even as electric heaters ‘get smart’
Emergence of smart technology has made tasks quicker, simpler and high convenient. According to industrial experts, with prevalence of smart technology, the world is on the verge of fourth industrial revolution, with the prediction that people would start living in a much advanced and connected smarter world. Application of smart technology has risen, starting from smartphones to smart heaters. The increasing demand for efficient smart home devices, manufacturers of smart heaters have started developing efficient smart heaters that deliver energy savings and quality heating applications. Moreover, increasing per capita income enables consumers to invest in smart gadgets, in this case, smart heaters. The concept of smart homes has accelerated the adoption of smart heaters, wherein all appliances are connected and controlled using smartphones or tablets remotely.
Smart heaters can be monitored and managed using smartphones or even smart assistants such as thermostats. Most smart electric heaters are eco-friendly incorporated with low power consumption standards. As per research, the global market for smart electric heaters is expected to catch steam and is projected to expand at a significant rate during the assessment period, 2018-2026.
Increasing demand for smart home solutions expected to drive revenue growth of the global market
Smart home solutions includes use of smart appliances that can be controlled from remote location. Smart appliances ultimately result in enhanced cost and energy savings and are incorporated with energy emission norms making them eco-friendly. The global smart cities market is expected to grow significantly owing to support from various government organizations in different countries who are taking several steps to develop smart cities.
An increase in government spending on smart cities, and the emergence of the smart cities concept, together, lead to a surge in the construction of smart buildings. Consequently, increasing need for smart buildings is expected to increase the demand for energy saving infrastructure, such as smart home solutions. Moreover, the rising use of IoT and smart technology is assisting various countries adopt the smart city concept. With the development of smart cities, new construction will increase, that has pushed the growth of smart home solution market, in turn positively influencing smart electric heater market at a global level.
In addition, with the rising disposable income in developing and developed economies, homeowners and businesses look forward to upgrade their residential and commercial infrastructure. This promotes the demand for smart homes and offices that provide a comfortable lifestyle. Also, consumer electronics and household appliances such as electric heaters are becoming efficient with respect to quality, and application. Though the initial cost is high, the rise in disposable income allows homeowners, businesses, and industries to integrate their infrastructure with such efficient, smart, IoT-integrated products, which deliver major cost reductions in the long run.
North America to account for a major share in the global market
Concept of smart home and smart infrastructure has been growing in this region since past years. With high capita income, people have been adopting smart home concept in their daily routine. Moreover, residential and commercial users are temperature monitoring systems as a vital part of their building infrastructure setup. Trend of smart water heating is expected to witness a surge in North America in the coming years. Smart water heating systems ensure appropriate water heating for multiple applications and also maintain and monitor temperature of water, in order to keep the system ready for use at any point in time. The North America smart electric heater market is expected to reach a significant valuation by end of the assessment period. Sale of smart heaters in this region is estimated to touch a value of about US$ 703 Mn by 2026 end.
The comprehensive research report on global smart electric heaters by Persistence Market Research assists the reader in chalking key growth strategies on the basis of vital insights on every market segment at a global level thus providing the much necessary value addition to gain tempo in the changing dynamics of the global market in the current as well as future market scenario.
The report covers a holistic viewpoint of the entire market
Global smart electric heaters market research report focuses on various developments, trends, opportunities, restraints and drivers that influence the growth of the global market. These aspects are analyzed across key regions of the globe thus portraying a global perspective of the smart electric heaters market. The reader can gain detailed understanding of the market dynamics across regions that can assist him/her to plan future moves from a growth perspective. Regions with optimum potential are included in this research study with which possible revenue pockets can be identified. Additionally, the research removes all the bias giving a realistic shape to the market insights.
Unique research process to gather relevant acumen
Credibility of the researched data and statistics lie in the uniqueness of the research methodology which ensures higher accuracy. In-depth assessment of the global smart electric heaters market is underpinned by an extensive research process that includes both secondary and primary research to obtain relevant numbers. The data collected undergoes several funnels of validation and re-examination at each step, as the research progresses. This ensures delivering value with data having higher degree of accuracy. The expert opinions of the market observers and the domain experts are extrapolated and the triangulation of these enables the analysts to arrive at a much accurate global market statistics.
The research report on global smart electric heaters market includes a dedicated section describing competitive scenario. It covers key players and their standing in the global market. The section involves the strategies applied by the key players, their innovations, their product portfolios, developments and product evolutions, their area wise spread and future expansion plans, the mergers and acquisitions taken place, the market shares and revenues of these tier players, financials, key personnel, etc. This intelligence dashboard completes with the inclusion of the analysis of the various aspects of the key competition in the market. Competitive assessment has been done in a systematic way to enable the reader to draw necessary inferences that can be used to gain competitive advantage.
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The comprehensive research report on global smart electric heaters market offers valuable insights with weighted analysis. Every organization has its own integral research team, which strives to gather sufficient research data of the market. Persistence Market Research aims at doing all the heavy lifting by providing unbiased insights which can be actioned by the research team thus supporting in achieving their research milestones. Also, it extends 24x7 analyst support to solve queries regarding the research as the need should be. The report is systematically structured to deliver convenience along with a complete market intelligence package.