(MENAFN- Zion Market Research) Zion Market Research has published a new report titled 'Smart Vent Market By End-Use (Residential and Commercial) and By Installation (Floor, Ceiling, and Wall): Global Industry Perspective, Comprehensive Analysis, and Forecast, 20182026. According to the report, the global smart vent marketwas USD 5,194 million in 2018 and is expected to reach around USD 12,960 million by 2026, growing at a rate of 12.1% between 2019 and 2026.
A ventilation system that operates on the basis of room temperature preference of an individual is called a smart ventilation system. Smart vents are integrated with temperature and pressure sensors, for maintaining a balance between under-conditioned and over-conditioned rooms. In smart vents, complete ventilation procedure is controlled by smart electronic devices, such as smartphones and tablets. The main motive of a smart vent is to decrease energy usage and overall expense as compared to continuously operating simple ventilation systems without compromising the indoor air quality (IAQ).
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Air quality in and around a building is termed as Indoor Air Quality (IAQ). Comfort and health of a building's occupants rely on the IAQ eventually. The globally rising concerns of maintaining healthy IAQ to control health issues are fueling the smart vent market. Smart vents effectively enhance the natural air infiltration to prevent various health problems. Moreover, a smart ventilation system provides both qualitative and quantitative data required for demonstrating procedures that maintain the overall IAQ. Smart vents attenuate radon particle and prevent smoke entry at a reasonable cost. The global adoption of smart vents is rising to reduce health costs in airtight infrastructure with inadequate ventilation systems. Low awareness of various benefits offered by smart ventilation systems, such as reduced energy consumption, improvisation of IAQ (Indoor Air Quality), may restrain the smart vent market. Many developing economies are unaware of the importance of smart vents and are still relying on traditional ventilation methods. However, such traditional approaches are observed to be ineffective in the current scenario and are leading to severe health issues. Various emerging localities are unaware that smart vents are not only user-friendly with multiple customized options but also significantly help in lowering different respiratory health issues by maintaining an optimum IAQ level.
By end-use, the smart vent market includes residential and commercial. The residential segment is projected to hold the largest market share and grow at the fastest rate over the estimated time span. By installation, the market is divided into floor, ceiling, and wall. The wall segment is projected to hold the largest share and the ceiling segment is anticipated to grow at the fastest rate over the forecast time period.
Geographically, the Asia Pacific is anticipated to hold the largest share of the smart vent market, owing to the flourishing building automation industry and rising environmental concerns in the region. North America holds the second-highest share of the smart vent market globally, with the U.S. holding the maximum market share due to the developing smart home construction sector.
Some noticeable players in the smart vent market are CSR Electrical, DCI Products, Ecovent Systems, Enerbee, Flair, IPS Roofing Products, Keen Home, Nest Labs, Rowan Dron Electrical, and San Mao Technology.
This report segments the global smart vent market into:
Global Smart Vent Market: By End-Use
Global Smart Vent Market: By Installation
Global Smart Vent Market: By Region
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
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