Smart Fleet Management Market Size Worth To Reach $565.1 Billion By 2025: Grand View Research, Inc.

The global smart fleet management market size is expected to reach USD 565.1 billion by 2025, according to a study conducted by Grand View Research, Inc. The market is anticipated to register a CAGR of 7.6% from 2017 to 2025. Introduction of vehicular communication technologies has increased the adoption of smart fleet management solutions, which enable vehicle tracking and monitoring, fleet analytics, fuel management, predictive maintenance, remote diagnostics, and driver performance tracking and monitoring, among others. This enables fleet operators of all sizes to incorporate smart technologies to increase their operational efficiency, enhance productivity, and enable varied cost savings. Government agencies are investing in intelligent transport systems and mandating the use of connected technologies for all vehicles to enhance driver and road safety, reduce carbon emissions, and efficiently manage traffic congestions.

For connected technologies to work successfully, it is of utmost importance that there be seamless connectivity. In regions such as North America and Europe, there is ubiquitous presence of strong wireless connectivity infrastructure and this has facilitated widespread investment in telematics solutions among fleet operators. Additionally, presence of prominent industry players such as Cisco Systems, Inc.; IBM Corporation; Continental AG; Sierra Wireless; Zonar Systems, Inc.; and Orbcomm, Inc. is estimated to foster growth prospects for the smart fleet management market.

On the down side, advancements in networking technologies enabling a connected environment will pose significant concerns over data privacy and data security. Lack of network infrastructure in developing regions, complexity of deployment, and high initial capital requirements are also expected to hinder the growth of the smart fleet management market.

Full Research Report On Global Smart Fleet Management Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/smart-fleet-management-market

Further key findings from the report suggest:

• By transportation, the automotive segment will register the fastest growth during the forecast period, exhibiting a CAGR of 8.2%. Autonomous vehicles, telematics, and vehicular communications will drive this segment
• In terms of hardware, ADAS systems are expected to dominate the global smart fleet management market owing to increasing government regulations and initiatives to ensure safety
• Low cost, flexibility, and scalability are expected to drive the cloud connectivity segment. The segment is expected to expand at a CAGR of 8.8% over the forecast period
• Demand for efficient transportation, rising demand for premium fleets, and implementation of strict government regulations are expected to bolster the growth of the APAC market
• Cisco Systems, Inc.; Continental AG; IBM Corporation; Siemens AG; Robert Bosch GmbH; Tech Mahindra; Sierra Wireless; and Zonar Systems, Inc. are some of the major players in the market.

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Grand View Research has segmented the global smart fleet management market on the basis of transportation, hardware, connectivity, and region:

Smart Fleet Management Transportation Outlook (Revenue, USD Billion, 2014 - 2025)

• Automotive
• Rolling Stock
• Marine 

Smart Fleet Management Hardware Outlook (Revenue, USD Billion, 2014 - 2025)

• Tracking
• Remote Diagnostics
• ADAS
• Optimization

Smart Fleet Management Connectivity Outlook (Revenue, USD Billion, 2014 - 2025)

• Short Range Communication
• Long Range Communication
• Cloud

Smart Fleet Management Regional Outlook (Revenue, USD Billion, 2014 - 2025)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Asia Pacific
• China
• India
• Japan
• Rest of World (RoW)
• Brazil
• Mexico
• Others  

Access Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-smart-fleet-management-market

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Endpoint Security Market Surge Valuation Of USD 27.05 Billion By 2024: Grand View Research, Inc.

The endpoint security market size is expected to reach USD 27.05 billion by 2024, according to a new report by Grand View Research, Inc. The endpoint security market is expected to witness a substantial growth over the forecast period, due to the increasing deployment of various security solutions with rising security risks across several applications including BFSI, IT & telecom, and retail.

The rising number of enterprise endpoints and mobile devices having access to critical enterprise data have created a huge demand for endpoint security solutions in the market, which is anticipated to drive the market. 

Moreover, emerging trend of virtualization is projected to affect endpoint security. Virtualization separates physical systems into several virtual machines, which will require similar endpoint protection as physical servers. Hence, escalating the demand for more efficient and comprehensive solutions over the forecast period.

Several companies in the industry are spending on different technologies to improve capabilities, secure internet protocols, test software and analyze vulnerabilities. The evolution of cloud storage has increased the adoption of cloud-based security services; the as significant amount of data is stored in one place. This has led to increased threat of data breaches and enforcement of various regulations to curb the risk of placing the data on the cloud.

Full Research Report On Global Endpoint Security Market Analysis:
www.grandviewresearch.com/industry-analysis/endpoint-security-market

Further key findings from the report suggest:

• The mobile device security segment witnessed revenue share of over 17% in 2015, which is anticipated to grow at a CAGR of nearly 16% over the forecast period. The increasing adoption of BYOD trend have led the employees in organizations to access corporate data on their personal mobile devices. However, it creates security challenges, which requires advanced endpoint security solutions to safeguard sensitive business information resulting in high demand.
• Enterprises dominated the market in 2015, and is estimated to grow at a CAGR of over 13% from 2016 to 2024. SMBs are also anticipated to witness substantial growth over the forecast period due to the rising adoption such safety solutions to prevent crucial information. Organizations of all sizes are transitioning their business-critical operations and workloads to cloud computing to decrease the burden on their IT support staff, reduce costs and provide advanced services. The increasing adoption of cloud technology have led security vendors to develop cloud-based security solutions on a large scale.
• IT & Telecom industry dominated the market with the revenue share of nearly 25% in 2015 and is anticipated to witness significant growth over the next eight years. The industry has evolved through significant expansion phase and have stringent legal and information security requirements. Further, rising acceptance of BYOD trend is anticipated to drive the industry demand.
• Moreover, the BFSI sector offers substantial potential for the market as it is continuously visualizing the regional; instability, terrorism, physical risks, criminal networks and modern threats originating from cyber sabotage and opaque sources. The rising regulation in the finance sector is further contributing towards the industry growth.
• The North America is estimated to dominate the market with a share of over 32% in 2015 growing at a CAGR of nearly 11% over the next eight years. Asia Pacific regional market accounted for over 19.0% of the global market share in 2015 and is expected to grow with a CAGR of 13.2% over the next eight years. Stringent regulations across Asia Pacific are expected to fuel the demand for efficient endpoint security solutions driving the demand in this region. Countries including China, India, Malaysia and Australia are investing heavily in endpoint security to fight against cyber threats and attacks.
• The key industry participants include Microsoft Corporation, Kaspersky Labs, Panda Security SL, Symantec Corporation, Sophos Ltd, Cisco, Bitdefender, ESET, IBM Corporation, F-Secure, Intel Security Inc. (McAfee) and Trend Micro Incorporated. The vendors involve in frequent merger & acquisitions to increase their geographical presence and product portfolio to gain competitive advantage.

View more reports of this category by Grand View Research at:
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Grand View Research Inc. has segmented the global endpoint security market on the basis of solution, deployment, organization, application, and region:

Endpoint Security Solution Outlook (Revenue, USD Million, 2014 - 2024)

• Firewall
• Antivirus
• Application Control
• ID/IP
• MDS
• Encryption technologies
• Others

Endpoint Security Deployment Outlook (Revenue, USD Million,2014 - 2024)

• On-premise
• Cloud

Endpoint Security Organization Outlook (Revenue, USD Million,2014 - 2024)

• Enterprise
• SMBs

Endpoint Security Application Outlook (Revenue, USD Million,2014 - 2024)

• IT & telecom
• BFSI
• Industrial
• Education
• Retail
• Medical
• Others

Endpoint Security Regional Outlook (Revenue, USD Million, 2014 - 2024)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

View press release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-endpoint-security-market

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

LiDAR Market To See Massive Growth By 2024

The global LiDAR market is expected to reach USD 1.34 billion by 2024, according to a new report by Grand View Research, Inc. The surging acceptance in environmental mapping and automobile safety application arenas is expected to boost the market growth. The increasing acceptance in the construction and architectural segment for monitoring & 3D-modeling applications is further anticipated to bolster the market growth.

The market can be categorized on the basis of application types into corridor mapping, engineering, environment, exploration, Advanced Driver Assistance Systems (ADAS) & others. The ADAS application segment is expected to grow at a remarkable pace owing to the surging incorporation in automotive safety and forward-collision avoidance systems; for instance, in Automatic Emergency Braking (AEB) systems to reduce the number of car crashes.

In July 2016, Velodyne LiDAR (U.S.) announced a partnership agreement with Dibotics (France), a Paris-based pioneer in the infrastructure-less and GPS-denied navigation. Dibotics would be providing consulting services to Velodyne customers in the 3D SLAM software segment, where the company would make contributions to the Dibotics platform in augmenting its technology deployed with Velodyne’s 3D LiDAR sensors.

Full Research Report On Global LiDAR Market Analysis:
www.grandviewresearch.com/industry-analysis/lidar-light-detection-and-ranging-market

Further key findings from the report suggest:

• The global LiDAR market is estimated to grow significantly over the forecast period due to automation in numerous industries, leading to reduced human efforts and increased efficiency. The technological superiority of LiDAR and several engineering projects of the large magnitude are estimated to trigger the demand by 2024.
• Airborne systems are expected to remain the dominant product segment over the forecast period. The segment is anticipated to gain prominence over the forecast period on account of the surging adoption of aerial mapping devices. Mobile terrestrial scanning is a frequently preferred survey method in monitoring, conservative topography, and geospatial mapping. UAV systems, also popularly known as drone mappers, are a contemporary mapping technique that incorporates LiDAR devices mounted on a drone to conduct scanning & associated mapping operations.
• North America is expected to emerge as one of the leading regional markets owing to the rising R&D spending coupled with high adoption in the automotive sector and environmental scanning & modeling operations. Asia Pacific is expected to witness a substantial growth over the forecast period. The surge in the demand across the product segments is expected to spur the market demand.
• The key industry participants include Velodyne LiDAR, Inc., Leica Geosystems Holdings AG, Faro Technologies Inc., Trimble Navigation Limited, and RIEGL USA Inc. The current market environment is witnessing an intense competition between the key players for achieving the market domination via product differentiation and enhancement of quality.

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Grand View Research has segmented the global LiDAR market on the basis of product type, application type, component type, and regions:

LiDAR Product Type Outlook (Revenue, USD Million, 2014 - 2024)

• Airborne
• Terrestrial
• Mobile & UAV

LiDAR Application Type Outlook (Revenue, USD Million, 2014 - 2024)

• Corridor Mapping
• Engineering
• Environment
• Exploration
• Advanced Driver Assistance Systems(ADAS)
• Others

LiDAR Component Type Outlook (Revenue, USD Million, 2014 - 2024)

• Laser Scanner
• GPS
• Navigation
• Others

LiDAR Regional Outlook (Revenue, USD Million, 2014 - 2024)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Middle East & Africa

View press release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-lidar-market

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

Deep Learning Market Is Projected To Grow At A CAGR Of 52.1% During Forecast Period 2014-2025

The global deep learning market size is expected to reach USD 10.2 billion by 2025, according to a new report by Grand View Research, Inc. Considerable improvements in machine learning algorithms and advancements in deep learning chipsets are driving the industry growth.

Rapid improvements in fast information storage capacity, high computing power, and parallelization have contributed to the swift uptake of the deep learning technology in end-use industries such as automotive and healthcare. Further, the need for understanding and analyzing visual contents among enterprises in order to gain meaningful insights, is expected to provide traction to the industry over the forecast period.

The increasing prominence of Graphics Processing Unit (GPU)-accelerated applications is leading to increased adoption of the technology in scientific disciplines such as deep learning and data science. Organizations are utilizing deep learning neural networks to extract valuable insights from enormous amounts of data for providing innovative products and improving customer experience; thereby, increasing revenue opportunities.

The technology is expected to gain prominence among key players and researchers, owing to its use in improvising artificial intelligence capabilities in Natural Language Processing (NLP), image & speech recognition, and computer vision areas. Solution providers are resorting to partnerships and collaborations to enter the deep learning space. For instance, in January 2016, Movidius collaborated with Google, Inc. to enhance its deep learning capabilities on mobile devices. In September 2016, Intel Corporation announced the acquisition of Movidius for improvising its computer vision and deep learning solutions.

Full Research Report On Global Deep Learning Market Analysis:
www.grandviewresearch.com/industry-analysis/deep-learning-market

Further key findings from the report suggest:

• The hardware segment is expected to witness the fastest growth due to increased demand for high computing chipsets which are used to run deep learning algorithms
• The Field Programmable Gate Array (FPGA) segment is expected to witness considerable growth on account of its enhanced power efficiency and capability to bridge the GPU performance gap using multiple FPGAs
• The healthcare segment is anticipated to grow at a significant rate of over 55%, as the technology is outspreading the translational bioinformatics, medical imaging, and sensor-driven analysis
• The Asia Pacific deep learning market is expected to be the fastest-growing regional market due to increasing spending on artificial intelligence and cognitive computing technologies
• The key industry players include Intel Corporation, NVIDIA Corporation, IBM Corporation, and Microsoft Corporation

View more reports of this category by Grand View Research at:
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Grand View Research has segmented the deep learning market based on solutions, hardware, services, applications, end-uses, and regions:

Deep Learning Solution Outlook (Revenue, USD Million; 2014 - 2025)

• Hardware
• Software
• Service
• Installation services
• Integration services
• Maintenance & support services

Deep Learning Hardware Outlook (Revenue, USD Million; 2014 - 2025)

• Central Processing Unit (CPU)
• Graphics Processing Unit (GPU)
• Field Programmable Gate Array (FPGA)
• Application-Specific Integrated Circuit (ASIC)

Deep Learning Application Outlook (Revenue, USD Million; 2014 - 2025)

• Image recognition
• Voice recognition
• Video surveillance & diagnostics
• Data mining

Deep Learning End-use Outlook (Revenue, USD Million; 2014 - 2025)

• Automotive
• Aerospace & defense
• Healthcare
• Manufacturing
• Others

Deep Learning Regional Outlook (Revenue, USD Million; 2014 - 2025)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Middle East and Africa

View press release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-deep-learning-market

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

Augmented Reality Market Is Predicted To Reach $100.24 Billion By 2024: Grand View Research, Inc.

The augmented reality (AR) Market size is expected to reach USD 100.24 billion by 2024, according to a new report by Grand View Research, Inc. The AR market is expected to witness a substantial growth owing to advances in hardware technologies and sophisticated mobile software.

Emerging trends such as mounting convergence between wearable devices, AR, and Internet of Things (IoT) are anticipated to drive demand. The convergence amongst these technologies is expected to provide more interactive and immersive user experience.

AR has been used efficiently in marketing and PR initiatives for television, motion picture and other media promotional campaigns. Hence, growing adoption of AR technology by the entertainment sector is projected to drive the market over the forecast period.

 Asia Pacific Augmented Reality Market Revenue by Component, 2014 - 2024 (USD Million)

Rising conceptualization in entertainment-related plans is observed as a lucrative opportunity for the industry. For example, Magic Leap, an augmented reality company, is developing a technology called as Dynamic Digitized Lightfield Signal that shines on the retina of the user and allows interaction between fictional characters and the real world.

Full Research Report On Global Augmented Reality Market Analysis:
www.grandviewresearch.com/industry-analysis/augmented-reality-market

Further key findings from the report suggest:

• The hardware segment is estimated to grow at a CAGR of over 90% over the forecast period. Companies such as Sony and Microsoft are expected to commercialize their devices in 2016, which is expected to bolster growth over the forecast period. Further, several companies are working on enhancing the quality of sensors and processors used in AR devices. For instance, Google has collaborated with the chip manufacturers to build camera components and processors for Android phones.
• Increasing penetration of smartphones and tablets are expected to drive the software segment, growing at a CAGR of over 55% from 2016 to 2024. Increasing demand for AR apps in retail, gaming and entertainment is expected to contribute to the industry growth.
• The head-mounted display (HMD) segment is anticipated to dominate the market growing at a CAGR of nearly 70%from 2016 to 2024. It can be attributed to the increasing scope of applications across the military, medicine, scientific visualization, manufacturing, education, training, navigation, and entertainment. The other factors driving demand include better content connectivity, enhanced user-experience and improved Field of View (FOV).
• The adoption of smart glasses is expected to increase significantly in the consumer segment. Several companies are developing advanced smart glasses which are more user-friendly, light weight and offer better FOV.
• Automotive sectors expected to grow at CAGR of over 70% over the forecast period. Virtual technologies are increasingly used in automotive in response to the rising number of model and equipment variants in the vehicle design and development process. For instance, Volkswagen used spatial AR to put across virtual data onto the actual vehicle design models that allow the analyses of components. As a result, it saves time and cost required for product development.
• Asia Pacific AR market is estimated to reach over USD 44.30 billion by 2024. China is anticipated to drive regional growth with the increase in adoption of AR devices and mobile apps. In 2014, China witnessed a rapid enhancement in hardware manufacturing, as a result, several chipset manufacturers are planning to support AR technology by immensely investing in the technology.
• The key industry participants include AU Optronics Corp., Cambridge Display Technology Ltd., LG Display Co., Mitsubishi Electric Corporation, Panasonic Corporation, Sony Corp., and Toshiba Corp. The players engage in frequent merger & acquisitions to increase their product portfolio and geographical presence to gain competitive advantage.

View more reports of this category by Grand View Research at:
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Grand View Research Inc. has segmented the global augmented reality market on the basis of component, display, application, and region:

  Augmented Reality(AR) Component Outlook (Revenue, USD Million, 2014 - 2024)

• Hardware
• Software

  Augmented Reality(AR) Display Outlook (Revenue, USD Million, 2014 - 2024)

• Head-Up Display (HUD)
• Head Mounted Display (HMD)
• Smart Glass

  Augmented Reality(AR) Application Outlook (Revenue, USD Million, 2014 - 2024)

• Aerospace & defense
• Medical
• Gaming
• Industrial
• Automotive
• E-commerce &Retail
• Others

  Augmented Reality(AR) Regional Outlook (Revenue, USD Million, 2014 - 2024)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

View press release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-augmented-reality-market

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

3D Scanning Market Is Predicted To Reach $8.04 Billion By 2025: Grand View Research, Inc.

The global 3D scanning market is expected to reach USD 8.04 billion by 2025, according to a new report conducted by Grand View Research, Inc. The surging acceptance in healthcare and aerospace & automobile component designing arenas is expected to impel the market growth. The increasing acceptance in the industrial manufacturing segment, specifically in metal processing and modelling procedures, is further anticipated to bolster the market growth.

The market can be classified on the basis of application types into industrial manufacturing, aerospace & defense, healthcare, architecture & engineering, and other 3D scanning applications. The healthcare segment is expected to grow at a notable pace owing to the surging in corporation by surgeons and medical practitioners in the study of cross-sectional human anatomy and in other similar surgical procedures; for instance, companies such as ARANZ Medical provide 3D scanning and technology solutions for wound and skin assessment there by renovating clinical assessment procedures, in so delivering cost-effective healthcare services and improving quality of care.

The 3D scanning technology offers many benefits to the automotive industry, particularly in terms of designing. For instance, in April 2016, BMW Group (Germany) declared 3D scanning and printing technologies were used to aid the 2016 Paralympic Games in Rio, by utilizing 3D technology for designing aerodynamic and lightweight carbon fiber wheelchairs and custom 3D printed gloves for Team USA.

Full Research Report On Global 3D Scanning Market Analysis:
www.grandviewresearch.com/industry-analysis/3d-scanning-industry

Further key findings from the report suggest:

• The global 3D scanning market is estimated to grow significantly over the forecast period due to the innovative inspection technology adoption in numerous industries, leading to reduced costs of manufacture and increased efficacy. The technological superiority of 3D scanning in dynamic solicitation arenas of large magnitude is assessed to elicit the demand by 2025.
• The 3D scanning industry is segmented on the basis of products into laser scanners, structured light scanners, and optical scanners. The 3D laser scanner segment is anticipated to dominate the 3D scanning device arena in terms of market size by 2025. 3D laser scanners would remain the dominant product segment on account of the low cost of laser scanners. Structured light scanners would emerge as the fastest growing product segment in the market in terms of revenue, in the years to come.
• Asia Pacific is anticipated to witness a considerable growth in the years to come. The surge in the demand across various industrial manufacturing application arenas is expected to boost the market demand. North America is projected to mature as one of the perceptible regional markets, owing to the high adoption in the aerospace and automotive designing industry coupled with the increasing R&D spending.
• The key industry contributors include Creaform, Inc., Autodesk, Inc., Nikon Metrology NV, David Vision Systems GmbH, FARO Technologies, Basis Software, Inc. (Surphaser 3D), Fuel3D Technologies Limited and Hexagon AB.

View more reports of this category by Grand View Research at:
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Grand View Research has segmented the global 3D scanning market on the basis of component type, application type, and region:

3D Scanning Product Outlook (Revenue, USD Million; 2014 - 2025)

• Laser Scanner
• Structured Light Scanner
• Optical Scanner

3D Scanning Range Outlook (Revenue, USD Million; 2014 - 2025)

• Short range
• Medium range
• Long range

3D Scanning Application Outlook (Revenue, USD Million; 2014 - 2025)

• Industrial manufacturing
• Aerospace & Defense
• Healthcare
• Architecture & Engineering
• Other

3D Scanning Regional Outlook (Revenue, USD Million; 2014 - 2025)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• Spain
• Asia Pacific
• China
• Japan
• South America
• Brazil
• Middle East & Africa

View press release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-3d-scanning-industry

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

Smart Thermostat Market Size, Share, Application, Analysis and Forecast To 2022

The global smart thermostat market is expected to reach USD 2.99 billion by 2022, according to a new study conducted by Grand View Research, Inc. These thermostats enable users to remotely control their air conditioning as well as heating systems through wireless connectivity and mobile apps. Smart thermostats form an integral part of smart homes and have gained high traction in developed regions such as Europe and North America. The industry is anticipated to witness a high adoption of these gadgets as they display the energy consumption level in real-time and are capable of adjusting to ambient conditions automatically. These devices can be connected to the internet and offer analytics and performance measurement tools through web-based portals. They are usually an integral part of the home automation ecosystem.

Energy utility retailers play a vital role in promoting the adoption of these devices in households. Many utilities offer these products as a part of their home energy management schemes. The involvement of energy retailers amplifies the potential for the smart thermostat industry growth. Additionally, the proliferation of mobile phones and their convergence with thermostats make these products much more attractive for the end-users.

The growing penetration of smartphones, rising per unit energy costs, the need for effective energy management solutions, and the favorable regulatory scenario are expected to propel the market growth over the coming years. The increased penetration of Near Field Communication (NFC) and ZigBee home automation devices is further expected to augment the demand. However, the high cost of devices and the associated data security concerns may restrain the growth prospects of this industry.

Full Research Report On Global Smart Thermostat Market Analysis:
www.grandviewresearch.com/industry-analysis/smart-thermostat-market

Further key findings from the report suggest:

• The market primarily includes devices based on connectivity technologies such as Wi-Fi, ZigBee, and other technologies including NFC, Bluetooth, and Ethernet. ZigBee-enabled devices are expected to gain a significant share with the increasing consumers’ shift toward home automation devices.
• North America and Europe, together, accounted for about 90% of the overall market share (in terms of revenue) in 2015 owing to the high demand for such devices in the region and favorable government mandates. The surge in the constructional activities and growing popularity of smart homes is expected to spur the demand.
• Key players, including Honeywell International, Inc., Nest Labs, Inc. (Google), and Ecobee, together, accounted for over 40% of the overall market share (in terms of revenue) in 2015. OEMs have been focusing on the development of new products as well as upgrading the existing product portfolio. Strategic agreements and collaborations have been practiced for gaining competitive advantage.

View more reports of this category by Grand View Research at:
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Grand View Research has segmented the smart thermostat market on the basis of technology and region:

Smart Thermostat Technology Outlook (Revenue, USD Million, 2012 - 2022)

• Wi-Fi
• ZigBee
• Others (Near Field Communication (NFC), Bluetooth, and Ethernet)

Smart Thermostat Regional Outlook (Revenue, USD Million, 2012 - 2022)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Asia Pacific
• China
• Australia and New Zealand
• Japan
• Latin America
• Brazil
• MEA

View press release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-smart-thermostat-market

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com