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If you're worried about the future of your air-conditioning system, you may want to steer clear of the "smart" part.
According to a report by GlobalData, smart climate control systemswhich use sensors and other technologies to regulate the temperature and humidity in a roomare among the hottest innovations in the technology industry, with more than 3.6 million patents filed and granted in the past three years alone.
"The technology industry continues to be a hotbed of innovation," the report states.
"Smart climate control systems are advanced automated systems that utilize sensors and other technologies to detect and promptly adapt to fluctuations in temperature and humidity within a room or area.
They have the capability to conserve energy by reducing power consumption during periods of inactivity or when the space is unoccupied."
The report finds that smart climate control systems will be the fastest-growing technology in the technology industry over the next five years, with a compound annual growth rate (CAGR) of 27.5% from 2016 to 2026.
Leading the way is Midea, which has developed a system that uses a processor to control multiple air-conditioning units in a building.
In fact, it's the only company in the report to have a system that manages multiple air-conditioning units in a building.
Other smart climate control
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Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.