Press release
What's driving the Thermostat Market trends? Honeywell, Schneider, Carrier, Johnson Controls, Computime, Energate, Danfoss, RTCA, Alarm.com, Trane, Venstar, Vulcanic, Seitron, Centrica, Ecobee, Lennox, Trafag, Sensata, Emerson Electric, Tado, Nortek, Legr
Thermostat Market
Thermostat Market share is set to surpass USD 6 billion by 2025. Regulatory restructuring across the residential and industrial establishments along with the introduction of sustainable building standards and codes will stimulate the thermostat market growth. Rapid upsurge in demand for smart home automation and energy efficient devices will positively influence the business landscape. Furthermore, increasing inclination toward advanced & IoT enabled solutions coupled with rising consumer awareness pertaining to climate change will significantly increase the product penetration.
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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.
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.
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.
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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Europe thermostat market will onlook growth owing to extensive expansion of energy efficient data centers along with increasing construction of smart homes. In addition, introduction of emission compliances and stringent energy regulations to ensure smart energy consumption will augment the industry growth.
Report Content
Chapter 1 Methodology & Scope
1.1 Methodology
1.2 Market definitions
1.3 Market estimates & forecast parameters
Chapter 2 Executive Summary
2.1 Thermostat market 360 degree synopsis, 2014 - 2025
2.1.1 Business trends
2.1.2 Product trends
Chapter 3 Thermostat Market Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2014 - 2025 (USD Million)
3.3 Industry ecosystem analysis
3.3.1 Vendor Matrix
3.4 Innovation & sustainability
3.17 Competitive landscape, 2018
3.17.1 Strategy dashboard
3.17.1.1 Honeywell Corporation
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