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Thermostat Market Growth, Trends and Forecast to 2025 | Johnson Controls, Danfoss, Carrier, ACDelco, Emerson
Thermostat Market
The size of Thermostat Market was registered at USD 3 billion in the year 2018 and is anticipated to cross USD 6 billion by 2025. Between the period 2019-2025, the Thermostat Market is expected to register a CAGR of 9%.
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The ever-reliable thermostat has come a long way— from being based on basic thermostat programming to supporting a network connection and connecting to virtual assistants. The Industry 4.0 revolution has expedited adoption of new technology in sensor technology and is making a shift towards digital-fueled disruption.
Installation of smart thermostat has witnessed an uptick in recent years given that it can reduce energy costs and keep homes comfortable by using local weather information to make energy-saving temperature changes automatically.
It is worth noting that a government-backed program to promote energy efficiency – the Energy Star has recommended people to keep their home temperatures between 78 and 85 degrees. Energy Star recommends different settings to automate at different times, and claims that people could have substantial energy savings with a properly-set programmable thermostat.
Why does the HVAC sector appear to be bullish?
Even though smart thermostat has set the trend, programmable thermostat will continue to gain prominence. Programmable thermostats not only provide similar convenience akin to other types of home automation devices, they also enhance comfort and boost energy efficiency. When compared to conventional thermostats, programmable thermostats provide an accurate and more detailed level of comfort.
A rapid uptick in the adoption of smart thermostat has encouraged many residential customers to adopt the technologically advanced thermostat. Although customers are purchasing more systems from retailers, HVAC business has vividly shown an influence. Given the fact that smart thermostats are easy to install owing to being designed as over-the-counter sales, HVAC business has gained traction.
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
Browse complete table of content of this report @ https://www.gminsights.com/toc/detail/thermostat-market
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