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Market Size in USD Billion
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USD 2,247.98 Million |
| USD 2,983.12 Million | |
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Global Motorized and Smart Awnings Market, By Type (Door Awnings, Window Awnings, Patio Awnings), Application (Doors, Windows, Patio and Open Spaces), Component (Fabric, Awning System, Operating and Technological System), Distribution Channel (Online channel, Offline Channel), End-User (Residential, Commercial Use) – Industry Trends and Forecast to 2030.
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Modernization in the form of motorized and smart awnings has removed some issues such as fabric damage due to bad placement, poor design and movement of awning fabric against the exterior wall. Furthermore, the number of public food and entertainment establishments such as Quick Service Restaurants (QSRs), Fast Service Restaurants (FSRs), bars, and pubs has increased, increasing the demand for motorized and smart awnings and enhanced market growth.
Data Bridge Market Research analyses that the motorized and smart awnings market is expected to reach USD 2983.12 million by 2030, which is USD 2247.98 million in 2022, registering a CAGR of 3.60% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Door Awnings, Window Awnings, Patio Awnings), Application (Doors, Windows, Patio and Open Spaces), Component (Fabric, Awning System, Operating and Technological System), Distribution Channel (Online channel, Offline Channel), End-User (Residential, Commercial Use)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Advaning Awnings (U.S.), Aleko (U.S.), Americana outdoors (U.S.), NuImage Awnings (U.S.), Hangzhou SHY Sunshading Technology Co., Ltd. (China), Riverside Works Ltd. (U.K.), Systems India Private Limited (India), Futureguard (U.S.), The Scott Fetzer Company (U.S.)
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Market Opportunities
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Market Definition
Awnings are mainly used to produce a cover layer to exterior walls for the protection from sunlight. Awnings are made up of canvas woven materials such as, acrylic, cotton, and polyester, and they can also be formed by covering vinyl fabric on polyester fabric. These motorized and smart awnings are normally fixed by stretching tightly awning sheets on metallic structures such as aluminium, iron, steel or transparent materials. This framework structure is arranged into the truss, planar, or space frame. These awnings are used above doors, windows, and sidewalks.
Drivers
The global motorized and smart awnings market is expanding rapidly owing to major market players appealing their products to end-customers through online platforms. These major market players display their varied motorized and smart awnings product types and designs on their online platform and have incorporated numerous technological elements to make their platform interactive. These factors are expected to drive the growth of the motorized and smart awnings market.
The demand for the motorized and smart awnings in both residential and non-residential infrastructures can be anticipated to increase in upcoming years owing to their ease of installation on patio and windows. Moreover, growth and expansion of the construction industry, is living space for humans all over the globe augmented the demand of protection from direct sun rays for buildings residences, which proved to be a major driving factor for the market growth during the forecast period.
Opportunities
Manufacturers are increasing their products quality to deal with consumer needs which are mainly based on high efficiency, thus, the motorized and smart awnings have undergone substantial changes in improvement to be placed in the market in an advanced way. For instance, manufacturers are presenting motorized and smart awnings that reflects high effectiveness and durability in protection from UV rays. So, the manufacturers have come up with a combination of slightly thick yarn and standard-sized yarn. This maintains stability, enhances water resistance capacity and also promotes fabric depth. This will likely create lucrative market growth opportunities in forecast years.
Restraints/ Challenges
The growth of the motorized and smart awnings market is anticipated to be hindered by the increase in the price of these awnings owing to rise in the prices of raw materials such as metal, acrylic, plastic polyester, and numerous other. Moreover, distributor's and manufacturer's profit margins have been affected by increasing prices of metal, cloth and smart-connected gadgets which will further challenge market growth during the forecast period.
This motorized and smart awnings market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the motorized and smart awnings market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
The motorized and smart awnings market is segmented on the basis of type, application, component, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
Application
Component
Distribution Channel
End-User
The motorized and smart awnings market is analyzed and market size insights and trends are provided by country, type, application, component, distribution channel and end-user as referenced above.
The countries covered in the motorized and smart awnings market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the global motorized and smart awnings market in terms of revenue and market share owing to increase in the adoption rate for smart home products. Furthermore, increase in the number of public food and entertainment venues such as quick service restaurants (QSRs), fast service restaurants (FSRs), bars, and pubs will further boost the market growth in this region.
Asia-Pacific is anticipated to be the fastest developing region during the forecast period of 2023-2030 because in this region market players are mainly focusing on nergy efficiency and convenient environments by using these motorized and smart awnings products.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
The motorized and smart awnings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to motorized and smart awnings market.
Some of the major players operating in the motorized and smart awnings market are:
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Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.