The HVAC industry has come a long way since the introduction of the first electric furnace in 1861. Today, there is a push towards Al-powered automated heating systems, driving innovation and market growth. The global market for HVAC systems is projected to reach USD 277 billion by 2025, with India's HVAC industry expected to grow to approximately $30,000 million by 2030. This growth is attributed to the adoption of smart home automation systems and loT, infrastructure development, rising disposable income, and government initiatives focusing on energy efficiency. "Riding the technology wave that disrupted nearly every sector, the Heating, Ventilation, and Air-Conditioning (HVAC) sector has undergone changes tuned to better sustainability quotient and ensuring energy-saving interventions while ensuring comfort," explains Gaurav Bawa, Senior Vice President, WIKA India.
WHAT'S NEW
Initially, the development of HVAC technology centered around mechanical improvements and enhanced efficiency. However, the present focus has shifted towards sustainability, comfort, and energy conservation, which are crucial in light of the current climate impact and the rising need for effective heating and cooling systems. "The biggest game changer has been the integration of artificial intelligence and machine learning, which enables HVAC systems to analyze vast amounts of data, optimize performance, and predict maintenance needs, resulting in further energy savings, lower costs, and improved system longevity. Advancements in the field of applied Al driven by ever-increasing computation power and supported by the cloud ecosystem has been a reckoning force which is acting as a key driver of growth and innovation for HVAC industry," says Anand Mahurkar, CEO and Founder, Findability Sciences.
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