Press release
Smart Thermostat Market Set to Heat Up: Forecasting Growth Trends from 2020 to 2027
Smart Thermostat Market
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ & ๐๐๐: https://www.alliedmarketresearch.com/request-sample/2556
A smart thermostat, which is also commonly known as a communicating or connected thermostat, is an electronic device that enables the creation of programmable and automatic temperature settings based on weather conditions, heating & cooling needs, and daily schedules. A smart thermostat can learn patterns of its surroundings, thereby saving energy for heating and cooling systems. For instance, a smart thermostat installed in a household analyzes patterns of the household and adjusts heating and cooling according to the same. Subsequently, it reduces the use of heating and cooling systems when the house is empty for a significant period. Furthermore, a smart thermostat can be operated using a phone, tablet, smart speakers, or any other internet-enabled device. In, some smart thermostats have diagnostic features, which enable it to detect any problem with the ducting or HVAC system.
The rapid adoption of smart infrastructure in residential and commercial infrastructure, penetration of IoT and AI-based technologies, and increase in the use of smart technology in medical monitoring influence the smart thermostat market growth. However, the high cost of products in developing countries hampers early adoption. Further, increased advancements and adoption of automated systems in residential, commercial, and industrial sectors are expected to provide lucrative opportunities for the global smart thermostat industry during the forecast period.
The Wi-Fi segment was the highest contributor to the market in 2019. The Wi-Fi and Bluetooth segments collectively accounted for around 60% market share in 2019. The surge in internet penetration fuels the growth of the Wi-Fi segment, thereby enhancing the global smart thermostat market growth.
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎ'๐ซ๐ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-for-customization/2556
๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
The Smart Thermostat industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
๐๐จ๐ฆ๐ ๐จ๐ ๐ญ๐ก๐ ๐ฆ๐๐ฃ๐จ๐ซ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐๐ฆ๐๐ซ๐ญ ๐๐ก๐๐ซ๐ฆ๐จ๐ฌ๐ญ๐๐ญ ๐๐๐ซ๐ค๐๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐,
Siemens AG
Netatmo
Tado
Honeywell International Inc.
Johnson Controls
Alphabet Inc. (Nest Labs)
Ecobee, Emerson Electric Co.
Schneider Electric
Zen Thermostat
The emergence of COVID-19 has significantly impacted the global smart thermostat industry. The delay caused for construction projects due to partial or complete lockdowns in various regions of the world have significantly reduced demand for smart thermostats during the pandemic. However, it has created more demand from residential end users, owing to work-from-home policies implemented by governments of several countries. Hence, the residential sector is expected to witness prominent growth post-pandemic for smart thermostats.
Region-wise, Asia-Pacific holds a significant share of the global smart thermostat market revenue size. Asia-Pacific accommodates the major population of the globe. The adoption of smartphones and smart electronic appliances in residential, commercial, and industrial sectors is expected to propel the smart thermostat industry in this region. Owing to technological advancements, appliances in residential buildings, such as washing machines, heating, and cooling equipment, and refrigerators are increasingly becoming smart. This means that they can be connected to the internet. Hence, all such factors are anticipated to boost the market growth.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/2556
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐๐ ๐๐ก๐ ๐๐ญ๐ฎ๐๐ฒ
- In 2019, the Wi-Fi segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 29.9% during the forecast period.
- The air conditioning and heating segment together accounted for around 82.0 % of the global smart thermostat market share in 2019.
- The residential segment of the global smart thermostat market is projected to grow at a CAGR of 26.7% during the forecast period.
- Asia-Pacific region contributed a major share of the global smart thermostat market, accounting for more than 40.0% share in 2019.
๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises and medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR aims to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
๐๐จ๐ง๐ญ๐๐๐ญ:
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๐๐๐๐๐ฌ๐ฌ ๐ญ๐ก๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ @ https://www.alliedmarketresearch.com/smart-thermostat-market
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