Future Market Insights has announced the addition of the “Smart Thermostat Market: Global Industry Analysis and Opportunity Assessment 2015 - 2025" report to their offering.
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3. Smart thermostat is the type of device used for controlling the heating and air
conditioning in residential as well as commercial buildings. Smart thermostat allows user
to control the temperature of the room throughout the day using a schedule, for example
setting different temperature during the day time and night time. Smart thermostats are
connected to with internet which enables its user to control the heating setting using
different internet connected devices, like smartphones, tablets etc. It also allows user to
easily switch on/off the heating or air conditioning of room even when they are not
inside home or office.
Smart Thermostat Market: Drivers and Restraint
The smart thermostat market is expected to grow rapidly over the period of forecast.
Factors which are responsible for the growth of global smart thermostat market are
increasing awareness among consumers about the various advantages of smart
thermostats, technological developments, growing urbanization, rising demand of
connected homes or smart homes, growing demand of energy efficient devices and
availability of configurable and reconfigurable thermostats.
On the other hand, factors which are restraining the growth of global smart thermostat
market are incorrect triggering of switches by sensors and incongruity issues in wireless
networks. However, demand for self-learning automated devices are expected to create
great growth opportunity for the growth of smart thermostat market over the forecast
period.
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Smart Thermostat Market: Segmentation
The global smart thermostat market can be segmented on the basis of component,
network technology and application. On the basis of component, the global smart
thermostat market can be segmented into display, motion sensor, humidity sensor,
temperature sensor and others.
On the basis of network technology, the global smart thermostat market can be
segmented into wired technology and wireless technology. Wireless technology is
expected to create great growth opportunity for the growth of global smart thermostat
sensor market. Wireless network technology can be further sub segmented into Wi-Fi, Z-
Wave, Zigbee and Bluetooth.
On the basis of application, the global smart thermostat market can be segmented into
residential, commercial, Industrial and others. Commercial application segment includes
office building, healthcare and retail etc. Other Segment includes educational buildings
such as school and colleges. Among all these application, residential applications are
expected to grow significantly over forecast period because of advancement in home
automation technology, growing demand of connected homes or smart homes and
increasing awareness about energy saving devices among consumers.
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5. Smart Thermostat Market: Region wise outlook
On the basis of region, the global smart thermostat market can be segmented into seven
regions which includes, North America, Latin America, Western Europe, Asia-Pacific
(excluding Japan), Eastern Europe, Japan and Middle East & Africa region. Further the
market is sub-segmented as per the major countries of each region in order to provide
better regional analysis of the smart thermostat market. Developed regions such as
North America and Western Europe are expected to dominate the market as demand of
home and office automation is high in these regions. However, Asia-Pacific region is
expected to grow rapidly over forecast period.
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Smart Thermostat Market: Key Players
The major players in the global smart thermostat market are Nest Labs, Inc., Emerson
Electric Co., ecobee inc., tado° GmbH, Schneider Electric, Honeywell International Inc.
and Carrier Corporation. Key players are focusing on product innovations to provide
advanced solutions to consumers. For example, In September 2015, Nest Labs, Inc.,
announced the third generation of Next Learning Thermostat which is slimmer in size,
has a larger & high resolution screen and updated user interface which makes it easy to
read temperatures, messages and alerts.
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