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Air Conditioning Systems Market Size Growing at 6% CAGR, Set to Reach 218.5 Billion By 2032

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TOKYO, March 24, 2023 (GLOBE NEWSWIRE) — The Global Air Conditioning Systems Market Size collected USD 123.4 Billion in 2022 and is set to achieve a market size of USD 218.5 Billion in 2032 growing at a CAGR of 6.0% from 2023 to 2032.

Air Conditioning Systems Market Research Report Highlights and Statistics:

  • The Global Air Conditioning Systems Market Size in 2022 stood at USD 123.4 Billion and is set to reach USD 218.5 Billion by 2032, growing at a CAGR of 6%
  • The market is driven by factors such as the increasing demand for air conditioning systems in residential and commercial buildings, the rising disposable income of consumers, and the growing trend of smart homes and green buildings.
  • The North American region is estimated to dominate the market, with the Asia Pacific region having the fastest growth rate.

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Air Conditioning Systems Market Report Coverage:

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Market Air Conditioning Systems Market
Air Conditioning Systems Market Size 2022 USD 123.4 Billion
Air Conditioning Systems Market Forecast 2032 USD 218.5 Billion
Air Conditioning Systems Market CAGR During 2023 – 2032 6%  
Air Conditioning Systems Market Analysis Period 2020 – 2032
Air Conditioning Systems Market Base Year 2022  
Air Conditioning Systems Market Forecast Data 2023 – 2032
Segments Covered By Type, By Technology, By Lubrication, By End-Use, And By Geography
Air Conditioning Systems Market Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled Mitsubishi Corporation, Daikin Industries Ltd., Samsung Electronics, Haier Electronics Group Co., LG Electronics, Electrolux AB, Carrier Corporation, Panasonic Corporation, Sharp Corporation, Hitachi Ltd., Hisense International Co. Ltd., The Midea Group and Gree Electric Appliances, Inc.
Report Coverage Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Air Conditioning Systems Market Overview:

The global air conditioning systems market is a rapidly growing industry that provides cooling and heating solutions for residential, commercial, and industrial applications. These systems are designed to maintain comfortable temperatures and humidity levels, ensuring optimal comfort and air quality. The market offers a wide range of air conditioning systems, including central air conditioning, ductless air conditioning, portable air conditioning, and window air conditioning. The systems are designed to cater to diverse applications such as homes, offices, hospitals, hotels, shopping malls, and industrial facilities. The market is expected to witness significant growth owing to the increasing demand for energy-efficient and eco-friendly air conditioning systems, and the rising trend of smart homes and green buildings.

Trends in the Air Conditioning Systems Market:

  • High demand for smart air conditioning systems that can be controlled through mobile devices and voice assistants.
  • Increasing adoption of inverter technology in air conditioning systems, which provides energy-efficient and quieter operation.
  • Development of air conditioning systems that use natural refrigerants such as carbon dioxide, which have low environmental impact.
  • Integration of artificial intelligence and machine learning technologies in air conditioning systems for predictive maintenance and optimal performance.
  • Growing trend of customization in air conditioning systems, with customers seeking personalized solutions tailored to their specific needs.
  • Development of air conditioning systems that can operate in extreme temperatures and harsh environmental conditions.
  • Development of solar-powered air conditioning systems, which offer energy savings and reduce dependence on traditional power sources.
  • Emergence of multi-functional air conditioning systems that combine heating, cooling, and ventilation functions.
  • Increasing adoption of air purification technology in air conditioning systems, to improve indoor air quality and reduce health risks.
  • Increasing use of variable refrigerant flow (VRF) systems, which offer high energy efficiency and flexibility in controlling individual zones.

Air Conditioning Systems Market Dynamics:

  • Increasing global temperatures and climate change are driving the need for cooling solutions.
  • Technological advancements in air conditioning systems are making them more energy-efficient, eco-friendly, and cost-effective.
  • Growing trend of smart homes and buildings, which require advanced air conditioning systems for optimal comfort and energy efficiency.
  • Growing trend of modular construction and off-site fabrication is driving demand for pre-fabricated air conditioning systems.
  • Increasing demand for air conditioning systems in data centers and server rooms, to maintain optimal operating temperatures.
  • Growing demand for air conditioning systems in healthcare facilities, to maintain optimal indoor air quality and temperature levels.
  • The rising trend of renovation and retrofitting of existing buildings is driving demand for energy-efficient air conditioning systems.
  • Growing demand for air conditioning systems in residential, commercial, and industrial applications.

Growth Hampering Factors in the Market for Air Conditioning Systems:

  • High initial costs of air conditioning systems can deter potential customers, especially in emerging economies with low purchasing power.
  • Increasing demand for natural ventilation and passive cooling systems in sustainable building designs may limit demand for air conditioning systems.
  • The availability of cheaper and less energy-efficient alternatives, such as fans or traditional air conditioning systems, may limit market growth.
  • The high energy consumption of air conditioning systems can lead to high electricity bills, which may deter customers.
  • Lack of proper maintenance and cleaning of air conditioning systems can result in decreased efficiency and increased health risks.
  • The use of certain refrigerants, such as HCFCs and HFCs, which contribute to ozone depletion and global warming, are being phased out, leading to a need for new refrigerants and system designs.

Check the detailed table of contents of the report @

https://www.acumenresearchandconsulting.com/table-of-content/air-conditioning-systems-market

Market Segmentation:

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By Type

  • Rooftop
  • Unitary
  • PTAC

By Technology

● Non Inverter

● Inverter

End User

● Industrial

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● Commercial

● Residential

Air Conditioning Systems Market Overview by Region:

North America’s Air Conditioning Systems market share is the highest globally, owing to the high demand for HVAC systems in commercial and residential buildings. Moreover, the increasing trend towards smart homes and the adoption of energy-efficient air conditioning systems are further driving the market growth in this region.

The Asia-Pacific region’s Air Conditioning Systems Market share is also huge and is growing at the fastest rate, due to the rapid urbanization, population growth, and increasing disposable income of individuals in countries such as China, India, and Japan. The increasing demand for HVAC systems in the commercial and industrial sectors, as well as the growing trend towards smart homes and buildings, are also driving the market growth in this region.

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Europe is another key market for Air Conditioning Systems, primarily driven by the implementation of strict government regulations and policies aimed at reducing carbon emissions and improving energy efficiency. Additionally, the growing trend towards green buildings and the increasing awareness about the benefits of energy-efficient air conditioning systems are contributing to the growth of the market in this region.

The South American and MEA regions have a relatively lower but growing Air Conditioning Systems market share. The growth of the tourism industry in these regions is leading to an increased demand for HVAC systems in hotels, resorts, and other hospitality sectors.

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Air Conditioning Systems Market Key Players:

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The Air Conditioning Systems Market has a range of leading companies in this market include Carrier Corporation, Daikin Industries Ltd., Mitsubishi Electric Corporation, LG Electronics Inc., Johnson Controls Inc., Fujitsu General Ltd., Gree Electric Appliances Inc., Lennox International Inc., Hitachi Ltd., Panasonic Corporation, Samsung Electronics Co. Ltd., Haier Group Corporation, Midea Group Co. Ltd., Toshiba Corporation, Trane Technologies plc, Rheem Manufacturing Company, Ingersoll Rand plc, Nortek Global HVAC LLC, Goodman Manufacturing Company LP, and York International Corporation. Each of these companies offers a variety of air conditioning products, catering to the diverse needs and preferences of customers around the world.

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About Acumen Research and Consulting:

Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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Artificial Intelligence

YES Delivers Multiple VeroTherm Formic Acid Reflow Systems To Leading Semiconductor Device Customers

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FREMONT, Calif., June 26, 2024 /PRNewswire/ — YES (Yield Engineering Systems, Inc.), a leading manufacturer of process equipment for semiconductor advanced packaging applications, today announced that it has delivered multiple VeroTherm Formic Acid Reflow (FAR) systems to leading logic and memory customers. This system will be utilized to enable 3D stacking of memory and logic chips required to support the growth of high-performance AI accelerators driven by large language model (LLM) applications.

The VeroTherm FAR system is designed to provide solutions for achieving sub 10-micron micro-bump structures with fluxless solder and mass reflow processes. This system enables superior quality and total cost of ownership (CoO) particularly for the manufacturing of advanced packaging architectures such stacked logic and high bandwidth memory (HBM) that are an integral part of the AI accelerators currently being launched in the market.
“The VeroTherm offers unique single wafer chamber design with flexibility to improve reflow quality and addresses challenges associated with reduced bump pitches. YES has demonstrated superior reflow results with no bump cracking defects observed at sub-30 micron pitch and no collapsed bumps with pitches down to 12um. YES proprietary process also results in defect-free solder reflow resulting in high throughput and low CoO. These results can extend bump-based mass reflow technology to sub-10um pitch,” said Alex Chow, SVP Global Sales at YES. “These orders are an important milestone for YES as it is a validation of our efforts to serve the multiple market segments,” Chow added.
According to Saket Chadda, SVP and GM, Dry Business Unit at YES, “Our Verotherm FAR wafer product line offers vacuum based single wafer processing with unique capabilities of performing the task of removing oxides and reflowing solder into excellent bump shapes without defects found in older atmospheric pressure systems. It eliminates SnAg agglomerate defects and rough surfaces while minimizing inter-metallic compound zones with extendibility down to sub-10um micron pitches.”
About YES
YES (Yield Engineering Systems, Inc.) is a leading manufacturer of high-tech, cost-effective equipment for transforming surfaces, materials and interfaces.  The company’s product lines include vacuum cure ovens, chemical vapor deposition (CVD) systems, and plasma etching tools used for precise surface modification and thin-film coating of semiconductor wafers, semiconductor and MEMS devices, and biodevices. With YES, customers ranging from startups to Fortune 100 companies can create and volume-produce products in a wide range of markets, including Advanced Packaging, MEMS, Augmented Reality/Virtual Reality and Life Sciences. YES is headquartered in Fremont, California, with a growing global presence. For more information, please visit www.yieldengineering.com.
Media Contact
Alex ChowSVP Business Development & Mktg / Asia PresidentYES (Yield Engineering Systems, Inc.)+886-926136155 [email protected] 
Logo – https://mma.prnewswire.com/media/2357724/YES_TM_logo_RGBv2_Logo.jpg

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Amagi Strengthens its European Presence With the Inauguration of a New Office in Poland

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Amagi to Develop Flagship LIVE Products at Central European Innovation Center
ŁÓDŹ, Poland, June 26, 2024 /PRNewswire/ — Amagi, a leading global provider of cloud-based SaaS technology for broadcast and Connected TV (CTV), is focusing on engaging with the vibrant young technology talent in Poland as it inaugurates a new office in the bustling center of Łódź. This move underlines Amagi’s dedication to harnessing the exceptional technology skills found in Poland, aiming to shape the future of global media and entertainment.

Poland has strategically positioned itself as a magnet for tech innovation. Its robust educational system produces engineering, computer science, and other tech-related graduates. This abundance of skilled professionals and a supportive environment make Poland a prime location for companies looking to tap into the global tech scene.
“The inauguration of this innovation center in Central Europe marks a key milestone in Amagi’s journey,” says Baskar Subramanian, Co-Founder and CEO of Amagi. “This center will provide a platform for Polish technology professionals to serve our global customers, underscoring Amagi’s strategic vision of being a frontrunner in the cloud-based live broadcast technology domain.”  
“The entry of Amagi into our market is a significant event for our technology sector,” says Adam Pustelnik, First Deputy Mayor of the City of Łódź. “This industry is growing rapidly and constantly needs new solutions, specialists, and a specific talent pool. We are delighted to collaborate with such an innovative company and support the development of our City together. I believe that Amagi, as a strong global brand, will help strengthen Łódź’s position in the global media technology market.”
In 2023, Amagi expanded its global footprint by acquiring Tellyo, a Polish company specializing in broadcast technology solutions. This strategic move marked Amagi’s initial foray into the Polish market and proved to be a significant growth catalyst for the company.  The talented Polish development teams are now at the forefront of several of Amagi’s industry-leading products, including Tellyo STUDIO, a platform designed to streamline live content production and delivery, and Tellyo PRO, a suite of tools tailored explicitly for high-pressure live broadcast environments like elections and significant sporting events, such as the Olympics.
“At Amagi, we’re driven by four core values that empower everyone in our ecosystem, from employees to customers, to thrive and reach their full potential truly,” says Prasad Menon, Chief People Officer at Amagi. “Our Polish team perfectly embodies this philosophy.  Their exceptional talent, dedication, and deep understanding of technology fuel the development of our industry-leading solutions.  Their ability to deliver cutting-edge products like Tellyo Studio and Tellyo Pro ensures Amagi continues to meet the ever-changing needs of the global media landscape.”
Amagi has significantly increased its customer base in the European region. It now delivers services to large media and entertainment industry players like DAZN, Grupa Polsat-Interia, and many more. Amagi also delivers linear channels in over 40 countries worldwide, with a strong presence in the American market. Its global client list includes ABS-CBN, AccuWeather, A+E Networks UK, Cineverse, and more.
About Amagi
Amagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute, and monetize live linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24×7 cloud-managed services bringing simplicity, advanced automation, and transparency to the entire broadcast operations. Overall, Amagi supports 800+ content brands, 800+ playout chains, and over 3800+ channel deliveries on its platform in over 150 countries. Amagi has a presence in New York, Los Angeles, London, Paris, Melbourne, Seoul, Singapore, and broadcast operations in New Delhi, and innovation centers in Bangalore, Zagreb, and Łódź.
About Invest in Łódź 
Our Bureau supports investors & businesses by being an integrator of diverse entities around the City and its offerings and facilitating relations among stakeholders. Moreover we provide services and tools that create value for future investors and stakeholders and promote the business brand of the City.
Link to Word Doc: www.wallstcom.com/Amagi/240625-Amagi-Poland.docx 
Link to Polish Translation: www.wallstcom.com/Amagi/240625-Amagi-Poland-Po.docx
Photo Link: www.wallstcom.com/Amagi/Poland_Office.jpg
Photo Caption: Deputy Mayor of the City of Łódź, Adam Pustelnik, Prasad Menon, Chief People Officer at Amagi, Mariusz OstojaSwierczynski, Senior Director of Engineering at Amagi, and Jakub Majkowski, Founder and COO of Tellyo, at the inauguration of the new innovation center in Łódź.
 
Amagi Contact:
Aashish Washikar
Director – Corporate Communications
Email: [email protected]
Phone : +91 9533390005

Photo – https://mma.prnewswire.com/media/2447827/Amagi_New_Office.jpg

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Synechron to acquire Adelaide-headquartered companies Chamonix IT and Exposé to grow its digital transformation, engineering, AI, and data and analytics capabilities in Australia

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This acquisition extends Synechron’s reach across the country, establishing a presence in key hubs and unlocking new industries and clients.
SYDNEY and NEW YORK and LONDON and PUNE, India, June 26, 2024 /PRNewswire/ — Synechron, a global leader in digital transformation consulting for the financial and technology sectors, is proud to announce that it has executed a definitive agreement for the acquisition of Chamonix IT Management Consulting Pty Ltd and Exposé Data Pty Ltd. Both companies are headquartered in Adelaide, Australia, with additional operations in Melbourne and Brisbane and share a common goal of delivering digital transformation, artificial intelligence, and analytics expertise to clients across several key industries including government, healthcare, utilities, energy, and education. The definitive agreement with respect to the acquisition was signed on Tuesday, 25 June, 2024, and is subject to customary closing conditions, including approval by the Australian Foreign Investment Review Board (FIRB).

Chamonix IT, established in 2010, is the leading provider of digital transformation services to organizations in South Australia. With a skilled team of approximately 150 professionals, Chamonix IT has been pivotal in delivering cutting-edge solutions that address complex challenges and drive significant outcomes for enterprise-level and public sector clients. Chamonix IT’s founders established Exposé as a new company in 2016 to bring the same level of expertise, this time focused specifically on data science and engineering, data modelling and visualization, and artificial intelligence. Among the fastest-growing IT organizations in Australia, Exposé currently has a team of approximately 50 people across the country.
The two organizations will join Synechron’s core digital transformation consulting business alongside recently acquired iGreenData, which expanded Synechron’s data and blockchain expertise in the financial services sector. With these additions, Synechron has effectively doubled its presence in the country, achieving coverage across major sectors. This strategic positioning allows the company to capitalize on the growing information technology (IT) investment in Australia encompassing SaaS, IT services, and analytics, while simultaneously enhancing its ability to offer support and solutions across Asia, the Americas, and Europe.
Faisal Husain, Synechron Co-founder and CEO, commented, “We look forward to welcoming Chamonix IT and Exposé into the Synechron family when the acquisition is completed. They will enrich our presence in Australia, bringing fresh expertise and capabilities that complement our ongoing commitment in the region. This move will enhance our service offerings and drive significant value, strengthening our strategy of continuous innovation and client-focused solutions.”
Scott Grigg, CEO of Chamonix IT, said, “Joining forces with Synechron is a significant milestone for us. Our shared dedication to excellence and innovation means we’re exceptionally positioned to offer transformative digital solutions that are second to none.”
Kelly Drewett, CEO of Exposé, added, “Becoming part of the Synechron family represents a massive opportunity. It accelerates our ability to innovate and empowers our employees to take on even more complex challenges on behalf of our clients.”
Technology Holdings acted as the financial advisor to Chamonix IT and Exposé on the transaction.
About Synechron:
At Synechron, we believe in the power of digital to transform businesses for the better. Our global consulting firm combines creativity and innovative technology to deliver industry-leading digital solutions. Synechron’s progressive technologies and optimization strategies span end-to-end Artificial Intelligence, Consulting, Digital, Cloud & DevOps, Data, and Software Engineering, servicing an array of noteworthy financial services and technology firms. Through research and development initiatives in our FinLabs we develop solutions for modernization, from Artificial Intelligence and Blockchain to Data Science models, Digital Underwriting, mobile-first applications and more. Over the last 20+ years, our company has been honored with multiple employer awards, recognizing our commitment to our talented teams. With top clients to boast about, Synechron has a global workforce of 14,000+, and has 55 offices in 20 countries within key global markets. For more information on the company, please visit our website or LinkedIn community.
About Chamonix IT:
Chamonix IT empowers businesses to excel through transformative IT services. Serving both enterprise and government organizations, Chamonix IT delivers tailored solutions that ensure long-term success. Chamonix IT’s expertise spans Advisory, Cloud & Infrastructure, Application Innovation, Security, and Managed Services, enabling businesses to remain competitive and innovative in an ever-evolving landscape. By embracing an adaptable and flexible approach, Chamonix IT helps organizations navigate the complexities of digital transformation to propel their business forward.
About Exposé:
Exposé is a leading data analytics and AI consulting firm delivering data-driven insights and business-focused outcomes to private and public sector clients across Australia. Exposé’s approach is designed to give its clients the quickest and most cost-effective path to tackle data and AI opportunities through best practice. Clients benefit from Exposé’s significant experience, research and development, and innovation, which is at the core of what we do and the values we uphold. Founded in 2016, Exposé is now the largest data analytics and AI business in South Australia and one of only a few female-led technology businesses in the region.
For more information please contact:
Rashmi Joshi,[email protected] [email protected]
OR
 Zoe Forbes-Pyfrom (+44) 7718 [email protected]
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