Smart thermostats are automation devices that control the heating and cooling systems within a specified area according to the environment requirements. It allows users to set schedule timing for controlling of the temperature. Smart thermostats are connected to the internet; this allows users to adjust their home’s temperature setting using other smart connectivity devices such as smartphones and tablets. It helps the user to save energy by easily switching the air conditioning or heating device from different locations. The thermostats can be programmed according to user’s requirement in order to minimize power consumption. They are used in residential buildings, educational institutions and offices.
The smart thermostats are classified according to technology as Wi-Fi, ZigBee and others. Wi-Fi is the growing segment and is expected to continue its dominance during the forecast period. Advancement in technology due to research and development has provided innovative smart thermostats. The smart thermostats can sense a person depending upon range. It will start cooling or heating system accordingly.
The key drivers for the smart thermostat market are the rising demand for energy-efficient devices, increasing energy prices and the need to optimize power. The major application of smart thermostat is in residential and commercial buildings. It is going to boost the market for smart thermostats. The increase in demand for smart homes is expected to fuel the demand for smart thermostat market during the forecast period. The key constraints of the global thermostat market are high cost of smart thermostats and increase in demand only in developed regions with high disposable.
North America is the leading market of smart thermostats. The European market is expected to grow rapidly during the forecast period. The major companies of smart thermostat market include Honeywell international, Nest Labs, Schneider Electric SE, Emerson Electric Co, Ingersoll Rand, Control4 Corporation, Nortek, Inc. and Carrier Corporation.
Decision Databases is involved in providing research reports and company profiles in the global smart thermostat market in terms of revenue and output/volume. Market drivers, opportunities and restraints are thoroughly studied which influences the market. This study is further utilized for the overall analysis of the market. The smart thermostat market is segmented based on the global applications, geographic presence, by products and ingredients. We offer an inclusive category-specific market outlook. We provide access to a comprehensive collection of companies in the industry. The companies can strategize and execute business operations through our competitor analysis. Find the global industry analysis, market size, share, growth, and trends information in our smart thermostat profiles.
SEGMENTATIONS IN REPORT:
Smart Thermostat By Technology
1. INTRODUCTION TO THE SMART THERMOSTAT MARKET
2. EXECUTIVE SUMMARY
3. MARKET ANALYSIS OF SMART THERMOSTAT
4. SMART THERMOSTAT MARKET ANALYSIS BY TECHNOLOGY
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