Water heaters are appliances which are used for heating water to certain temperature from the initial temperature of the water. Smart water heater are appliances that are powered by Wi-Fi technology which allows the users to control the water heater remotely. The user can control heater using a smartphone and other connected devices and can monitor the operations of heaters in real-time.
MARKET SCOPE
The "Global Smart Water Heater Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the smart water heater market with detailed market segmentation by technology, end-user, and geography. The report provides key statistics on the market status of the leading smart water heater market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on technology, the global smart water heater market is segmented into bluetooth and Wifi.
- On the basis of end-user, the market is segmented into residential and commercial.
MARKET DYNAMICS
Drivers:
- The smart water heater market is experiencing significant growth owing to increasing consumer spending for white goods across the globe.
- Meanwhile, the growing penetration of internet and smartphone and connected devices is anticipated to flourish the smart water heater market in forth coming future.
Restraints:
- The fluctuating prices of raw materials is hampering the growth of the smart water heater market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart water heater market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smart water heater market in these regions.
IMPACT OF COVID-19 ON SMART WATER HEATER MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the smart water heater market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from smart water heater market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the smart water heater market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- A. O. Smith
- Ariston Thermo Group
- General Electric Company
- Midea Group
- Rheem Manufacturing Company
- Rinnai Corporation
- Smartenit, Inc.
- SG Stroj?rna s.r.o.
- Teka Group
- Whirlpool Corporation
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.