Global Smart Thermostat Market Analysis By Technology (Wired, Wireless - Wi-Fi, ZigBee, Others), Application, Components, By Region, By Country: Opportunities and Forecast (2012-2022)
The report by Azoth Analytics titled “Global Smart Thermostat Market Analysis By Technology (Wired, Wireless - Wi-Fi, ZigBee, Others), Application, Components, By Region, By Country: Opportunities and Forecast (2012-2022)” estimates that the market of smart thermostats has witnessed tremendous growth of ~ 20% globally in the period 2012-2017 and amounted to USD 1.36 billion in the year 2017.
A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of Global Smart Thermostat Market By Technology (Wired, Wireless - Wi-Fi, ZigBee, Others), Application (Residential, Commercial, Others), Components (Temperature sensor, Humidity sensor, Power management, Others), By Region (North America, Europe, APAC and ROW) and By Country (U.S., Canada, Germany, France, U.K., China, Japan and UAE).
Rising government regulation and IoT expansion has increased the demand of smart thermostat; however, there are certain challenges that will need to be addressed, including the high cost of smart thermostat and lack of communication networking. Further, advancement in technologies and new inbuilt sensors will going to boost the global market in the forecast period. In the recent years, many leading manufacturing companies are dedicated in developing the smart thermostat technologies, with the major focus on to reduce the cost and improving smart device integration. The Wireless ZigBee and Z-Wave standards has also been started to further simplify the failure in the network system due to increasing complexity. Apart from using the smart thermostats in residential buildings, many manufacturing, mining and chemical industries have also raised the demand for smart thermostats for the automated temperature control.
According to Azoth Analytics research report “Global Smart Thermostat Market Analysis By Technology (Wired, Wireless - Wi-Fi, ZigBee, Others), Application, Components, By Region, By Country: Opportunities and Forecast (2012-2022)”, the global market is projected to display even higher growth represented by a CAGR of 35.29% during 2017 – 2022. The market will chiefly driven by increase in urbanization and rising carbon emission, growing internet users and smartphone penetration, government regulations to use energy saving devices and growing advancements in the thermostat technology. The wireless segment is rising at a higher rate due its advanced control through apps from any location, thereby gradually taking over the entire wired network. Among the regions, North America accounts for the largest regional share in the total smart thermostat market in 2016 while Asia Pacific region is predicted to advance at the highest rate, mainly driven by the growing economies in China, India with the growth in urban population, emerging industries and new smart infrastructure built and technological improvement in Singapore, South Korea, Vietnam, etc.
The report has covered and analysed the potential of Global Smart Thermostat Market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the global smart thermostat market. Additionally, the report also highlights market entry strategies for various companies across the globe.
Scope of the Report
Global Market (Actual Period: 2012-2016, Forecast Period: 2017-2022)
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