Smart Thermostats Market is estimated to be US$ 12.50 billion by 2030 with a CAGR of 23.5% during the forecast period
Smart Thermostat is a device applicable for controlling the heating and air
conditioning in commercial as well as residential buildings. Smart thermostat
enables user to maintain the temperature of the room throughout the day using a
schedule. For example setting different temperature while day and night time.
Smart thermostats are linked to with internet which allows its user to control
the heating setting using various internet connected devices, like smartphones,
tablets etc. It also enables user to easily switch on/off the air conditioning
or heating of room even when they are not inside office or home. The global
smart thermostats market accounted for US$ 1.50 billion in 2020 and is
estimated to be US$ 12.50 billion by 2030 and is anticipated to register a CAGR
of 23.5%.
The report "Global Smart Thermostats Market, By Component (Display, Motion
Sensor, Humidity Sensor, Temperature Sensor, and Others), By Network Technology
(Wired Technology and Wireless Technology (Wi-Fi, Z-Wave, Zigbee, and
Bluetooth)), By Application (Residential, Commercial, Industrial, and
Others), and By Region (North America, Europe, Asia Pacific, Latin
America, and the Middle East & Africa) - Trends, Analysis and Forecast till
2029”.
Key Highlights:
·
Nest Labs,
Inc. offers networking products. The Company designs and manufactures a
sensor-driven, Wi-Fi enabled, learning, and programmable thermostat. Nest Labs
operates in the United States.
·
Emerson
Electric Co. designs and manufactures electronic and electrical equipment,
software, systems, and services. The Company offers its products for
industrial, commercial, and consumer markets worldwide through its network
power, process management, industrial automation, climate technologies, and commercial
and residential solutions divisions.
Analyst View:
Technological advancements and shift in
population towards convenient methods to remotely control electronic and
electrical appliances drives the demand of the smart infrastructure. A smart
thermostat is a device that is fitted in a smart infrastructure to provide
users remote access to ambience heating or temperature. This offers benefits of
switching heating systems through internet connected devices. Additionally,
smart thermostats can also be arranged as per the need of users, which brings
energy efficiency by limiting human error and negligence at times, which aids
in the growth of smart thermostat market growth worldwide. Advancements in
IoT and AI has modernized electronic systems and devices. Additionally, the
adoption of artificial intelligence in thermostats has advanced programmable
thermostats to smart ones. Smart thermostat provides self-learning abilities
and learn the user behavior over time. Thereby, automatically regulating temperature
of the atmosphere. Smart thermostats are designed for connection over Wi-Fi and
further advancements in these smart devices provides access to them via voice
control, which boosts smart thermostat market growth across the globe.
Key Market Insights from the
report:
The global smart thermostats market accounted for
US$ 1.50 billion in 2020 and is estimated to be US$ 12.50 billion by 2030 and
is anticipated to register a CAGR of 23.5%.The market report has been segmented on the basis
of component, network technology, application, and region.
·
By component, the
global smart thermostats market is segmented into display, motion sensor,
humidity sensor, temperature sensor, and others.
·
By network technology, wireless technology is projected to offer great growth opportunity
for the growth of global smart thermostat sensor market. Wireless network
technology is further sub segmented into Wi-Fi, Z-Wave, Zigbee and Bluetooth.
·
By application, commercial
application segment involves healthcare, office building, and retail etc. Other
Segment involves educational buildings such as school and colleges. Among all
these application, residential applications are projected to grow expressively
in the coming years due to the rising awareness about energy saving devices
among consumers, advancement in home automation technology, and increasing demand
of connected homes or smart homes.
·
By
region, The North American regional
market is projected to lead the global industry owing to growing demand for
managing energy consumption solutions and a wide distribution network of key
manufacturers in the region. The rising average unit rate of power is inspiring
household consumers, industries, and enterprises to implement smart energy
solutions, which is one of the basic reasons for the market growth.
Before purchasing this report, request a sample or make an inquiry
by clicking the following link:
https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/4376
Competitive Landscape:
The prominent player operating in the global
smart thermostats market includes Nest Labs, Inc., Emerson Electric Co., Ecobee
Inc., Hive Home, Tado GmbH, Schneider Electric, Honeywell International Inc.,
Carrier Corporation, Siemens, Emerson Electric, and Vivint.
The market provides detailed information
regarding the industrial base, productivity, strengths, manufacturers, and
recent trends which will help companies enlarge the businesses and promote
financial growth. Furthermore, the report exhibits dynamic factors including
segments, sub-segments, regional marketplaces, competition, dominant key
players, and market forecasts. In addition, the market includes recent
collaborations, mergers, acquisitions, and partnerships along with regulatory
frameworks across different regions impacting the market trajectory. Recent
technological advances and innovations influencing the global market are
included in the report.
About Prophecy Market Insights
Prophecy Market Insights is specialized market
research, analytics, marketing/business strategy, and solutions that offers
strategic and tactical support to clients for making well-informed business
decisions and to identify and achieve high-value opportunities in the target
business area. We also help our clients to address business challenges and
provide the best possible solutions to overcome them and transform their
business.
To know more
Contact Us:
Sales
Prophecy Market Insights
.gif)
Comments
Post a Comment