Exciting Developments in the Smart HVAC Controls Market in North America

The North America smart HVAC controls market was valued at US$ 2,743.4 million in 2019 and is expected to grow at a CAGR of 9.2% during the forecast period of 2020 to 2027 to reach US$ 5,471.0 million by 2027.

Smart heating, ventilation, and air conditioning (HVAC) systems is an integral part of facilities and smart buildings management. Smart HVAC controls offers a wide range of sensors and advanced control technologies which helps detect operational needs of buildings. Rising penetration of the Internet of Things (IoT) is one of the major factors contributing to the growth of the smart HVAC controls market, as nowadays, the manufacturers are integrating IoT technology with HVAC systems. Manufacturers program the systems to work with other linked systems, such as door locks and powered window shades, in real-time.

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Top Key Players Listed in the North America Smart HVAC Controls Market 2022 - 2030 Report Are:In this report, the market has been segmented on the basis of:

Carrier Global Corporation
DAIKIN INDUSTRIES, Ltd.
Honeywell International Inc
Emerson Electric Co.
Siemens AG
Haier Group Corporation
Hitachi, Ltd.
Lennox International Inc.
LG Electronics
Trane Technologies plc

The North America Smart HVAC Controls Market 2022 - 2030 Competitive Viewpoint:

Based on product type, in 2019, the smart air vent segment held the largest share of the North America smart HVAC controls market. Smart thermostats use door sensors and high precision motion to save energy by switching off automatically when residents are sleeping or are outside the home. In addition, smart thermostat helps find perfect climate in the room and ensures optimal home energy consumption. Furthermore, increasing adoption of digitalization could save around 10% of total energy consumption in commercial and residential buildings by 2040, according to the International Energy Agency (IEA). This has gradually led to an increase in number of automated buildings, resulting in expanding the smart HVAC controls market.

In terms of implementation type, the retrofit segment contributed a substantial share in 2019. Increased product launches and developments contribute to the growth of the North America smart HVAC controls market for the retrofit segment. For example, Siemens RDS110.R-the wireless smart thermostat and its accessories-represents a new heating control retrofit solution for light commercial and residential buildings. Such product portfolios are likely to drive the market growth for the retrofit segment during the forecast period.

Based on application, in 2019, the residential segment held the largest share of the North America smart HVAC controls market. Due to airtight building infrastructure with inefficient ventilation systems, the adoption rate of smart HVAC controls is significantly increasing in order to reduce health issues. Furthermore, due to increasing use of these systems integrated with smart homes, the residential segment is expected to gain momentum during the forecast period.

This analysis is a useful resource for investors, shareholders, industry planners, and new and existing businesses trying to broaden their reach within the current Market situation. While focusing on top companies and their corporate strategies, market presence, operative segmentation, aggressive outlook, geographical growth, pricing and price structures, the study painstakingly takes into consideration the market analysis.

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• It looks into vital developments like extensions, agreements, new product launches, and acquisitions on the horizon.
• Analysis the market's potential, preferred position, opportunity, difficulty, restrictions, and hazards on a world and regional level.

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