Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Smart Connected HVAC Market by Type (Single Split Systems, Multi Split Systems, VRF Systems), By Application (Commercial, Residential) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Smart Connected HVAC Market by Type (Single Split Systems, Multi Split Systems, VRF Systems), By Application (Commercial, Residential) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 157717 3300 Machinery & Equipment 377 230 Pages 4.8 (32)

Market Overview:

The global smart connected HVAC market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy-efficient and comfortable homes and buildings, growing awareness about the benefits of smart connected HVAC systems, and rising adoption of IoT-enabled devices. The global smart connected HVAC market is segmented on the basis of type into single split systems, multi split systems, and VRF systems. The single split system segment is expected to account for the largest share of the global market in 2018 owing to its low cost and easy installation. However, the VRF system segment is projected to grow at a higher CAGR during the forecast period as it offers superior performance compared with other types of HVAC systems. On basis application wise commercial sector will have highest growth rate where as residential sector will hold major share in terms revenue generated by Smart Connected hvac Market .

Global Smart Connected HVAC Industry Outlook

Product Definition:

A Smart Connected HVAC system is a heating, ventilation, and air conditioning (HVAC) system that is connected to the internet. Smart Connected HVAC systems can be controlled remotely using a smartphone or computer, and they can also send alerts if there is a problem with the system. The importance of Smart Connected HVAC systems is that they can help save energy and money by allowing homeowners to control their home's temperature from anywhere in the world.

Single Split Systems:

Single-split systems are used to split the hot and cold sides of a heat pump. It is also known as single-pass system, which means that it only passes through the temperature of the fluid once. The advantage of this system is that it reduces energy wastage by approximately 50% because there is no need for multiple passes through different temperatures.

The global single split systems market size was valued at USD 1,867.7 million in 2016.

Multi Split Systems:

Multi split systems are a set of controls that operate more than one HVAC unit. It is used to control the temperature and humidity in multiple rooms from single system. The multi-split systems can be connected through wired or wireless connection, which allows controlling the units from mobile devices or central control panel.

Application Insights:

The commercial application segment dominated the global smart connected HVAC market in 2017 and is projected to expand at a CAGR of XX% from 2018 to 2030. The growth can be attributed to the increasing adoption of energy-efficient technologies that result in cost savings as well as reduce carbon footprint. Furthermore, technological advancements such as integration with security systems, home monitoring systems and control units are further expected to drive demand over the forecast period.

Residential application segment accounted for more than 50% share of the overall revenue in 2017 owing to rising awareness among consumers regarding comfort control and improved indoor air quality resulting in reduced sick days among children. In addition, growing concerns regarding rising electricity bills due to usage increase by 0600HVAC system temperature have resulted in increased adoption across end-use industries including healthcare, hospitality etc., which is anticipated fuel demand for HVAC systems across residential applications globally over next eight years or so.

Regional Analysis:

North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This can be attributed to increasing penetration of smart connected hvac systems, growing adoption by consumers, and technological advancements in existing systems. Moreover, rising awareness regarding energy conservation and emission control standards is also driving demand for smart connected hvac products in this region.

Growth Factors:

  • Increasing demand for energy-efficient and smart buildings
  • Proliferation of IoT and big data analytics
  • Growing awareness about the benefits of smart connected HVAC systems
  • Rising demand for green buildings and LEED certification
  • Development of innovative technologies that improve the performance of smart connected HVAC systems

Scope Of The Report

Report Attributes

Report Details

Report Title

Smart Connected HVAC Market Research Report

By Type

Single Split Systems, Multi Split Systems, VRF Systems

By Application

Commercial, Residential

By Companies

Johnson Controls, Carrier, Daikin, Lennox, LG HVAC, Mitsubishi Electric, Fujitsu General

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


Customization Available

Yes, the report can be customized as per your need.

Global Smart Connected HVAC Market Report Segments:

The global Smart Connected HVAC market is segmented on the basis of:


Single Split Systems, Multi Split Systems, VRF Systems

The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.


Commercial, Residential

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

  1. Johnson Controls
  2. Carrier
  3. Daikin
  4. Lennox
  5. LG HVAC
  6. Mitsubishi Electric
  7. Fujitsu General

Global Smart Connected HVAC Market Overview

Highlights of The Smart Connected HVAC Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Single Split Systems
    2. Multi Split Systems
    3. VRF Systems
  1. By Application:

    1. Commercial
    2. Residential
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Smart Connected HVAC Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Global Smart Connected HVAC Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?

Smart Connected HVAC is a technology that allows you to control your homeu2019s heating, cooling and air conditioning using your smartphone or computer. With Smart Connected HVAC, you can access real-time information about your system status, make changes to settings and even receive alerts when things go wrong.

Some of the major companies in the smart connected hvac market are Johnson Controls, Carrier, Daikin, Lennox, LG HVAC, Mitsubishi Electric, Fujitsu General.

The smart connected hvac market is expected to grow at a compound annual growth rate of 10.5%.

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Smart Connected HVAC Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Smart Connected HVAC Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Smart Connected HVAC Market - Supply Chain
   4.5. Global Smart Connected HVAC Market Forecast
      4.5.1. Smart Connected HVAC Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Smart Connected HVAC Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Smart Connected HVAC Market Absolute $ Opportunity

5. Global Smart Connected HVAC Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Smart Connected HVAC Market Size and Volume Forecast by Type
      5.3.1. Single Split Systems
      5.3.2. Multi Split Systems
      5.3.3. VRF Systems
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Smart Connected HVAC Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Smart Connected HVAC Market Size and Volume Forecast by Application
      6.3.1. Commercial
      6.3.2. Residential
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Smart Connected HVAC Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Smart Connected HVAC Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Smart Connected HVAC Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Smart Connected HVAC Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Smart Connected HVAC Demand Share Forecast, 2019-2026

9. North America Smart Connected HVAC Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Smart Connected HVAC Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Smart Connected HVAC Market Size and Volume Forecast by Application
      9.4.1. Commercial
      9.4.2. Residential
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Smart Connected HVAC Market Size and Volume Forecast by Type
      9.7.1. Single Split Systems
      9.7.2. Multi Split Systems
      9.7.3. VRF Systems
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Smart Connected HVAC Demand Share Forecast, 2019-2026

10. Latin America Smart Connected HVAC Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Smart Connected HVAC Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Smart Connected HVAC Market Size and Volume Forecast by Application
      10.4.1. Commercial
      10.4.2. Residential
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Smart Connected HVAC Market Size and Volume Forecast by Type
      10.7.1. Single Split Systems
      10.7.2. Multi Split Systems
      10.7.3. VRF Systems
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Smart Connected HVAC Demand Share Forecast, 2019-2026

11. Europe Smart Connected HVAC Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Smart Connected HVAC Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Smart Connected HVAC Market Size and Volume Forecast by Application
      11.4.1. Commercial
      11.4.2. Residential
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Smart Connected HVAC Market Size and Volume Forecast by Type
      11.7.1. Single Split Systems
      11.7.2. Multi Split Systems
      11.7.3. VRF Systems
   11.8. Basis Point Share (BPS) Analysis by Type
   11.9. Y-o-Y Growth Projections by Type
   11.10. Market Attractiveness/Growth Potential Analysis
      11.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Smart Connected HVAC Demand Share, 2019-2026

12. Asia Pacific Smart Connected HVAC Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Smart Connected HVAC Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Smart Connected HVAC Market Size and Volume Forecast by Application
      12.4.1. Commercial
      12.4.2. Residential
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Smart Connected HVAC Market Size and Volume Forecast by Type
      12.7.1. Single Split Systems
      12.7.2. Multi Split Systems
      12.7.3. VRF Systems
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Smart Connected HVAC Demand Share, 2019-2026

13. Middle East & Africa Smart Connected HVAC Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Smart Connected HVAC Market Size and Volume Forecast by Country
      13.2.1. Saudi Arabia
      13.2.2. South Africa
      13.2.3. UAE
      13.2.4. Rest of Middle East & Africa (MEA)
   13.3. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Smart Connected HVAC Market Size and Volume Forecast by Application
      13.4.1. Commercial
      13.4.2. Residential
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Smart Connected HVAC Market Size and Volume Forecast by Type
      13.7.1. Single Split Systems
      13.7.2. Multi Split Systems
      13.7.3. VRF Systems
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Smart Connected HVAC Demand Share, 2019-2026

14. Competition Landscape
   14.1. Global Smart Connected HVAC Market: Market Share Analysis
   14.2. Smart Connected HVAC Distributors and Customers
   14.3. Smart Connected HVAC Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. Johnson Controls Overview Financials Developments Strategic Outlook
      14.4.2. Carrier Overview Financials Developments Strategic Outlook
      14.4.3. Daikin Overview Financials Developments Strategic Outlook
      14.4.4. Lennox Overview Financials Developments Strategic Outlook
      14.4.5. LG HVAC Overview Financials Developments Strategic Outlook
      14.4.6. Mitsubishi Electric Overview Financials Developments Strategic Outlook
      14.4.7. Fujitsu General Overview Financials Developments Strategic Outlook
      14.4.8. COMPANY8 Overview Financials Developments Strategic Outlook
      14.4.9. COMPANY9 Overview Financials Developments Strategic Outlook
      14.4.10. COMPANY 10 Overview Financials Developments Strategic Outlook
      14.4.11. COMPANY 11 Overview Financials Developments Strategic Outlook
      14.4.12. COMPANY 12 Overview Financials Developments Strategic Outlook
      14.4.13. COMPANY 13 Overview Financials Developments Strategic Outlook
      14.4.14. COMPANY 14 Overview Financials Developments Strategic Outlook
      14.4.15. COMPANY 15 Overview Financials Developments Strategic Outlook
      14.4.16. COMPANY 16 Overview Financials Developments Strategic Outlook
      14.4.17. COMPANY 17 Overview Financials Developments Strategic Outlook
      14.4.18. COMPANY 18 Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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