Feb 18, 2021
Nearly Two-third Sales of Smart Shades to Occur from Online Sales Channels: Fact.MR
by Team Fact.MR
Historically, the smart shades market snowballed at a conspicuous rate of 18.2% (2015 to 2019), owing to rising aspirational values of consumers and extensive adoption of smart devices, globally. Moreover, comprehensive offerings by manufacturers that bequeaths consumer comfort and luxury has been a key driver of market growth. Over the coming years, demand for smart shades is projected to surge radically on the back of increasing infrastructure spending and ravaging digitalization, globally. Furthermore, the need to bring down energy loss caused by indecorous window shading systems is also on a conspicuous rise. A myriad of options available for consumers in shading solutions, such as retrofitting and all together new integrated installations, are further poised to provide impetus to the market.
In addition, manufacturers have further mobilized new thoroughgoing technologies such as deployment of ZigBee/Z-Wave in smart home automation to cushion the drawbacks of smart shades. Operation of smart shade motors has long been recognised as boisterous. However, manufactures have now come up with novel motors that are less noisy and can provide increased operational efficiency.
As per analysis, the global smart shades market is slated to boom at an exceptional CAGR of 30% from 2020 to 2030, led by North America, and later on by China.
Key Takeaways from Market Study
- The global smart shades market is anticipated to add 7.8X value by 2030.
- Technology wise, ZigBee/Z-wave is expected to surge ahead at a thumping CAGR of more than 27% over the forecast period.
- North America is an absolute market with a value of US$ 99.4 Mn in 2020, and is subjected to distend at a sturdy CAGR of 18% through 2030.
- Residential end use of smart shades is poised to exhibit a sprightly growth rate of more than 24% CAGR, while the commercial sector is projected to add 6.1X value over the forecast period.
- East Asia is set to unleash its ferociousness with a skyrocketing growth rate of close to 31% CAGR, owing to the manufacturing prowess of the region, widespread implementation of high-end technology, and ravaging digitalization within the region.
- By sales channel, online sales are poised to bequeath courteous opportunities for smart shade manufacturers, owing to increasing use of online channels for purchasing, as well as intensifying penetration of online sales platforms across regions.
- The market in the U.S. is set to witness an impressive CAGR of 19%, while that in the U.K. is projected at close to 26%, through 2030.
- Value of the market in China is expected to surge at a 36% CAGR, making it the largest market by the end of the forecast period.
- Due to the COVID-10 outbreak in 2020, the market witnessed a poor growth rate of 3.6%. However, 2021 promises to be better, at a growth rate of 16.5%.
“Muffled operation clubbed with novel technology deployment and targeted acquisitions: a growth chauffer for manufacturers,” says a Fact.MR analyst.
Radical Technological Implementation and Product Launches by Key Players
Key players such as Lutron Electronics Co. and Hunter Douglas NV are pivoting their focus on extensive high-end technological deployment and wide-scale product launches to overcome the hurdles of smart shades.
For instance, Hunter Douglas, in 2019, acquired Stores-discount, a French e-Commerce retailer for window coverings. The company is expanding its sales channel to provide consumers with a multitude of options to choose from.
Additionally, Somfy Systems Inc., in 2020, launched the roll up 24 wirefree RTS Li-Ion battery, the smallest motor ever to power motorized shading solutions.
Similarly, Lutron Electronics Co., in 2019, revamped its existing architecture with new and innovative WIDR technology by introducing a new member in the product family, Roller 64. This change allows the company to come out with wider shades that cover more space with simplistic built technology, thus increasing the overall efficiency of smart shades. The company is also using solar-powered battery technologies to help cut down on carbon emissions and increase the overall operational prowess of smart shades.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global smart shades market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the basis of technology (Wi-Fi, Bluetooth, ZigBee/Z-Wave, and radio waves), end use (residential and commercial), and sales channel (direct to customer, online sales channels, hypermarket/ supermarkets, speciality stores, and others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
About the ICT Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the ICT team at Fact.MR assists clients with unique business intelligence needs on a global level. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the Industrial lucidly in 50+ countries for over a decade. The ICT team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations.
For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Sr. Consultant – ICT