Press release
Smart Thermostat Market 2022 Precise Outlook - Canto Inc., CELUM GmbH, Cognizant Technology Solutions Corp., Oracle Corporation
The Smart Thermostat Market Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.The smart thermostat market was valued at USD 988.7 million in 2020 and expected to reach USD 3396.36 million by 2027 and grow at a CAGR of 23.1% over the forecast period (2022-2027).
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Top Leading Companies of Smart Thermostat Market Market are Canto Inc., CELUM GmbH, Cognizant Technology Solutions Corp., Oracle Corporation, Hewlett-Packard Enterprise Co., OpenText Corporation, QBNK Holding AB, Aprimo LLC (ADAM Software), Bynder(Webdam Inc.), Dell Technologies and others.
Industry News and Updates
January 2020- Nest labs rolled out a new feature that alerts the customer about any potential HVAC issues. It also assists the customer in booking an HVAC professional to fix it. This new feature is because of Nest labs partnership with Handy.
Key Market Trends
Asia-Pacific to Witness a Significant Growth Rate Over the Forecast Period
- Consumers are adopting the smart assistant devices, such as Amazon Echo and Google Home for many purposes, with almost one-third of people using it as an information provider responding to questions, and over 40% as an audio speaker for listening to streaming music. The smart thermostats find application among the smart assistants, thereby, fueling its demand across the residential sector across the region.
- Moreover, the Chinese government launched the 'New-Type Urbanization Plan,' focusing primarily on new-type, smart, and humanities city construction from 2014 - 2020.
- Besides, in India, the IGBC (Indian Green Building Council) Green Homes are the first rating program that has been developed, exclusively for the residential sector, whose objective is to facilitate the effective use of site resources, water conservation, energy efficiency, handling of household waste, optimum material utilization, and design for healthy, smart homes.
Regional Outlook of Smart Thermostat Market Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Smart Thermostat Market Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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