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
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:
www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
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
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
No comments:
Post a Comment