COVID-19 Pandemic is Expected to Have a Positive Impact
The COVID-19 pandemic has affected the construction sector massively. Companies have opted for work from home options to maintain social distancing, and prevent the spread of coronavirus. Government bodies also have encouraged working from home, as the virus was spreading fast in several regions. However, the rolling out of the vaccines has enabled employees to return to office, and various companies are working on creating proper ventilation and heating across workspaces to help tackle the virus. Studies show that optimal ventilation can help in the reduction of surface contamination by removing several particles before they can land on various surfaces. Added care is being taken by companies to deploy proper HVAC techniques to create a safe working environment for the employees, thereby helping in the growth of the global HVAC solution software market in the coming years.
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Commercial/Industrial End-Users Accounted for the Highest Market Share in 2020 in the Global HVAC Solution Software Market
Absolute Markets Insights found that the industrial and commercial segment accounted for the highest market share in revenue in the global HVAC solution software market in 2020. The higher budget amongst companies, especially large industries, coupled with the higher focus of the end-users on commercial and industrial sectors due to their ventilation and heating requirements has played a major role in the higher share of this segment in the global HVAC solution software market in 2020. Industrial complexes are increasingly trying to reduce energy consumption using smart HVAC solutions, and are increasingly tying up with HVAC solution providers for creating a strategy to optimize energy use. Johnson Controls, for instance, is providing a range of products that are engineered to obtain higher efficiency, thereby reducing the need for higher energy. Regular maintenance and calibration can also be availed through the company's packages, which in turn is helping the end-users in reducing maintenance issues which can arise in the future.
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Asia Pacific Region to Show the Highest Growth Rate During Forecast Years (2021-2029)
Based on Absolute Markets Insight's findings, the Asia Pacific is expected to show the maximum growth during the forecast years in the global HVAC solution software market. The growth of manufacturing in countries such as India, China, Malaysia, amongst others, coupled with the modernization of workplaces in the Asia Pacific region is expected to provide the market participants with additional growth opportunities in the coming years. Furthermore, the region is seeing a growth in the number of companies that are providing HVAC solutions, thereby increasingly the accessibility towards advanced HVAC products to the end-users. China, Japan and India are expected to spearhead the growth of the Asia Pacific HVAC solution software market during the forecast years. Added care is also being taken by the companies in China to ensure that proper ventilation is available to the employees in the wake of coronavirus. Air conditioning is being carefully monitored and regulated, as studies in China showed that the virus is capable of spreading faster in environments which have poorly managed air conditioning.
Some of key players operating in the global HVAC solution software market are AB Electrolux, Carrier, Daikin, Emerson Electric Co., Honeywell International Inc., Ingersoll Rand, Johnson Controls, Lennox International Inc., LG Electronics, Mitsubishi Electric, Nortek Air Management, Samsung Electronics, amongst others.
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Global HVAC Solution Software Market
By Offering
- Hardware
- Software
- Services
- Implementation and Maintenance
- Consulting and Training
- Design and Development
- Others
By End-Use
- Residential
- Commercial/Industrial
By Distribution Channel
- Direct
- Indirect
By Application
- Air Filtering and Purifying
- Humidification and Dehumidification
- Air Cooling and Heating
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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