Smart Thermostat Market Research Report

 

GMI Research's recent analysis, global smart thermostat market, forecast till 2027, examines the trends in this market and how they are evolving across the world's different key geographic regions. The growing demand for home automation, the expansion of the smart home market, and the increasing demand for a programmable thermostat are the major factors driving the growth of the smart thermostat market.

Introduction of the Smart Thermostat Market:

A smart thermostat refers to a type of thermostat that is basically utilized in home automation to control the home's temperature with the help of the smart device. Smart thermostat enables access to the heating and air conditioning system and automatically sets the temperature of the home. Smart thermostats also provide various features, such as sensors and Wi-Fi connectivity, which enable the users to adjust heating and cooling settings from other internet-connected devices, include smartphones, laptops, tablets, and others.

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Smart Thermostat Market Dynamics (Including market share)

The growing demand for home automation, expansion of the smart home market, and the increasing demand for a programmable thermostat are certain factors surging the growth of the global smart thermostat market. Smart thermostats provide remote control of heating and cooling electronic devices at home, and commercial spaces set the desired temperature setting and include them into the home automation system. Thereby, the growing adoption of smartphones and tablets is projected to fuel the growth of the smart thermostat market in the upcoming years. Moreover, smart thermostats offer a recording of internal and external temperatures to decide when it requires to turn the fan and AC or heat on and off and allow the users to set several temperatures for various times of the day.

The room sensors help in measures the temperature in a particular room or area of the home and heat or cool that space accordingly. The primary factors accelerating the growth of the smart thermostat market include the easy to use the feature and the ability to save more energy. Furthermore, artificial technology is one of the key factors propelling the growth of the smart thermostat market share in terms of revenue. For example, Micronature Deep Learning A.I. Enhanced Thermostat, Nest Learning Thermostat, and others are some of the AI-enabled thermostats. AI helps in allowing these thermostats to serve as per the needs of the customers, thus, enhancing the demand for the smart thermostat in the upcoming years. The growing application of smart thermostats in different industry verticals, including hospitals, residential, commercial spaces, restaurants, hotels, and educational institutes, is projected to bring various growth opportunities for the smart thermostat market in the upcoming years. On the other edge of the spectrum, the high cost and several complications regarding the thermostat installation and usage will hinder the growth of the global smart thermostat market.

Key Players of the Global Smart Thermostat Market:

·        Honeywell International Inc.

·        Schneider Electric SE

·        Emerson Electric Co.

·        General Electric Company

·        Trane Technologies Plc

·        Nortek, Inc.

·        Ecobee Inc.

·        Johnson Controls International Plc

·        Siemens AG

·        Alphabet Inc.

Smart Thermostat Market Segmentation:

Global Smart Thermostat Market Report Segment by Component:

·        Display

·        Temperature Sensor

·        Humidity Sensor

·        Motion Sensor

·        Others

Global Smart Thermostat Market Report Segment by Technology:

·        Wired Networking

·        Wireless Network

o    Wi-Fi

o    ZigBee

o    Z-Wave

o    Bluetooth

Global Smart Thermostat Market Report Segment by Application:

·        Residential

·        Office Building

·        Educational Buildings

·        Industrial Building

·        Retail

·        Hospitality

·        Healthcare

Global Smart Thermostat Market Report Segment by Region:

·        North America

o   United States of America

o   Canada

 

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a full-service market research and business-consulting organization that offers global as well as medium and small businesses with bespoke industry and market analysis to help them in making the toughest business decision. We have a team of industry experts that provides unbiased insights on reports to best meet the specific needs of our clients. GMI Research’s analysts rely on secondary research to lay down the foundation of every report. We use not only the internal but also the external databases to cull out relevant information of the industry. Our main aim is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client, through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

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