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[PDF] Smart Thermostat Market Size, Development, Key Opportunities, Applications And Forecast 2027 | Emerson Electric Co., Ecobee, Inc.
Smart Thermostat Market
The Smart Thermostat Market size was valued at $1.86 billion in 2019, and is projected to reach $11.36 billion by 2027, registering a CAGR of 28.00% from 2020 to 2027 according to a new report by Allied Market Research. The report covers an analysis of the major impacting factors and top 10 investment pockets that influence the market growth and new opportunities in the future.
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The recent technological developments and rise in demand have an instrumental effect on the growth of the market. The Smart Thermostat Market report offers a comprehensive analysis of the market on the basis of various parameters including sales, sales analysis, market size, share, trends, and major driving factors. In addition, the report offers Porter's five forces model, portfolio and financial analysis, and business overview of services and products. Such statistical tools provide a piece of vital information to recognizing lucrative opportunities in the industry.
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The TOP MARKET PLAYERS that are currently active in the industry: Emerson Electric Co., Ecobee, Inc., Honeywell International Inc., Johnson Controls, Nest Labs, Inc., Control4 Corporation, Schnieder Electric SE, Tado GmbH, Nortek, Inc., and Ingersoll Rand plc.
These companies have adopted various business strategies such as new product launches, mergers & acquisitions, partnerships, and collaborations to maintain market position.
The study provides an in-depth analysis of the dynamic driving and restraining factors, major challenges, and lucrative opportunities. Moreover, the study offers a SWOT analysis that helps understand the restraining and driving factors in the industry. The global Smart Thermostat Market report covers an overview of the market and outlines market definition and scope.
The drivers and opportunities aid in understanding the ever-changing industry trends and how companies can leverage such trends. On the other hand, the challenges and restraints included in the report aid in recognizing lucrative market investments. The global Smart Thermostat report offers a quantitative and qualitative analysis of the market. The qualitative study highlights the value chain analysis, pain point analysis, and key regulations.
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The report includes a detailed analysis of the impact of the Covid-19 pandemic on the market. The report covers consumer preferences, trends, and budget impact on the market because of the pandemic. The global Smart Thermostat Market is under the influence of technological advancements. The emergence of innovative technologies such as artificial intelligence (AI), cloud computing, big data, Electronics & semiconductors industries, Internet of Things (IoT), and cryptocurrency have a major impact on the global Smart Thermostat Market growth. The report helps recognize the role of such advanced technologies in Smart Thermostat Market growth.
Browse in-depth TOC on Smart Thermostat Market:
>> Pages: 245
>> Tables: 112
>> Charts: 76
Key Market Segments:
By Technology
• Wi-Fi
• Bluetooth
• Zigbee
• Others
By Application
• Air Conditioning
• Heating
• Ventilation
By End User
• Residential
• Commercial
• Industrial
• Others
Based on technology, the Wi-Fi segment held the lion's share in 2019, accounting for nearly one-third of the market. Moreover, the segment is estimated to register the highest CAGR of 29.9% during the forecast period.
On the basis of application, the heating segment contributed the highest share in 2019, holding more than two-fifths of the market. However, the air conditioning segment is expected to portray the highest CAGR of 29.9% during the forecast period.
The global smart thermostat market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific dominated in 2019, contributing to more than two-fifths of the market. In addition, the region is estimated to register the highest CAGR of 30.4% during the forecast period.
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By Region:
1) North America- (U.S., Canada, Mexico)
2) Europe- (Germany, UK, France, Spain, Italy, Rest of Europe)
3) Asia-Pacific- (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific)
4) LAMEA- (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
The analysis of segment and sub-segment is offered in graphical and tabular formats. This study is instrumental to understanding the highest revenue-generating and fasting growing segments of the Smart Thermostat Market, which is vital for making strategic investments.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of ""Market Research Reports"" and ""Business Intelligence Solutions."" AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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