Press release
Thermostat Market Will Grow Over USD 65 Million by 2025
The escalating development of sustainable codes and standards across residential and industrial buildings is bound to majorly propel the thermostat market growth. Not to mention, this industry has also been receiving momentum from the rapid advancements in heating and cooling technologies, that are being installed in most modern homes and buildings lately, to offer added comfort to residents, specifically in regions experiencing extreme cold or heat waves. Indeed, thermostats play a key role in the functioning of these systems as they offer efficient monitoring and control over temperature.
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Eminent players serving the thermostat market involves Carrier, Computime, Schneider, Energate, Danfoss, RTCA, Alarm.com, Trane, Venstar, Vulcanic, Seitron, Centrica, Ecobee, Lennox, Trafag, Sensata, Emerson Electric, Tado, Johnson Controls, Honeywell, Nortek, Legrand, and Nest.
Easy communication capabilities, compatibility with other energy systems and remote control & visibility, are some of the essential parameters encouraging the product demand across commercial application. Compact design and simple, intuitive interface makes it suitable for condominiums, schools and hotels. Increasing investments pertaining to sustainable building infrastructure along with the enforcement of stringent emission norms will foster the thermostat market.
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The U.S. thermostat market is set to exceed installation of 24 million units by 2025. Stipulation of stringent regulatory mandates along with increasing infrastructure investments toward the refurbishment of residential sector will foster the industry growth. For instance, as stated by the Building Technologies Office 75% of U.S. infrastructure will be new or refurbished by 2035. In addition, increasing penetration of ZigBee and Near Field Communication smart home automation devices coupled with the rising weather-related disasters will complement the business outlook.
Product versatility & diverse applicability across several smart voice assistants including Google Home & Echo will drive the smart thermostat market growth. These systems are self-learning devices and know the amount of time required for heating and cooling the buildings. The escalating adoption of home automation devices has led the industry participants & manufacturers to shift their focus toward innovation and expansion of advanced systems.
Partial Table of Contents (ToC) of the report:
Chapter 4 Thermostat Market, By Product
4.1 Thermostat market share by product, 2018 & 2025
4.2 Smart thermostat
4.2.1 Global market from smart thermostat, 2014 – 2025
4.2.2 Global market from smart thermostat, by region, 2014 - 2025
4.3 Mechanical thermostat
4.3.1 Global market from mechanical thermostat, 2014 – 2025
4.3.2 Global market from mechanical thermostat, by region, 2014 - 2025
4.4 Programable thermostat
4.4.1 Global market from programable thermostat, 2014 – 2025
4.4.2 Global market from programable thermostat, by region, 2014 - 2025
4.5 Others
4.5.1 Global market from others, 2014 – 2025
4.5.2 Global market from others, by region, 2014 - 2025
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Utility thermostat market is predicted to surpass USD 500 million by 2025. The initiation of several programs to provide incentives, subsidies or other discounts pertaining to the installation of home automation systems will encourage the product adoption. The distribution channel has provided various schemes to customers including "Bring Your Own Thermostat" to further strengthen their revenues.
Furthermore, increasing penetration of home automation systems and smart home devices along with escalating consumer awareness to remunerate for advanced monitoring solutions will fuel the market growth.
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