Press release
Smart Thermostat Industry Trends, Analysis To 2022 by Grand View Research Inc.
The smart thermostat market is expected to witness growth since they display energy consumption in real-time and are able to adjust itself based on ambient conditions automatically. They can connect to the internet and offer analytics and performance measurement tools through web portals. Such devices are packed with technologies such as ZigBee or Wi-Fi and form a part of the home automation ecosystem.
Browse full research report on Global Smart Thermostat Market: http://www.grandviewresearch.com/industry-analysis/smart-thermostat-market
Energy and utility retailers also play a vital role in bringing devices into households. May utilities are offering these products as a part of their home energy management schemes. Involvement of energy retailers heightens the potential for smart thermostat industry growth. At the same time, proliferation of mobile phones and its convergence with thermostats is makes these products much more attractive for end-users.
Growing penetration of smartphones, rising energy costs, need for effective energy management solutions and favorable regulatory scenario are expected to propel growth over the coming years. However, high cost of devices and data security concerns may restrain the smart thermostat market. Increased penetration of Near Field Communication (NFC) and ZigBee home automation devices is expected to augment demand.
Read detailed report or request for sample of this research report:
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Further key findings from the study suggest:
• The smart thermostat market primarily includes technology such as Wi-Fi, ZigBee and other technologies including NFC, Bluetooth, and Ethernet. ZigBee-enabled devices are expected to gain significant share as consumers shift towards home automation devices.
• North American and European smart thermostat market accounted for about 90% of the overall market in 2014 owing to high demand for such devices in the region and favorable government mandates. Surge in new construction activity and growing popularity of smart homes is expected to spur demand.
• Key players include Honeywell, Google Nest and Ecobee; and together they accounted for over 40% of the overall smart thermostat market share in 2014. Companies have been focusing on development and launching of new products, as well as upgrading the existing product portfolio. Agreements and collaborations are also practiced for gaining strategic advantage. Competition in the industry is intensifying rapidly owing to high interest levels among customers piqued by arrival of new and creative products.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the smart thermostat market on the basis of technology and region:
Smart Thermostat Technology Outlook (Revenue, USD Million, 2012 – 2022)
• Wi-Fi
• ZigBee
• Others
Smart Thermostat Regional Outlook (Revenue, USD Million, 2012 – 2022)
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
• Asia Pacific
o China
o ANZ
• Latin America
• MEA
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Web: grandviewresearch.com
Read our blogs - dniamericas.org, mediafound.org, apavirginia.org
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