In the latest report from Emergen Research, the market research report discusses the global Smart Thermostats market in depth, and each of the major market segments is examined in depth. In addition to market information, the report provides industry statistics, regional market revenue shares, gross profits, production & distribution costs, and product portfolios related to the global Smart Thermostats market.
There are also a number of factors influencing industry revenue growth identified in the report, including drivers, opportunities, trends, restraints, challenges, demand and supply ratios, production and consumption patterns, stringent regulatory frameworks, as well as a multitude of other micro- and macro-economic factors.
The global smart thermostat market size was USD 2.99 Billion in 2022 and is expected to register a revenue CAGR of 20.8% during the forecast period, according to the latest analysis by Emergen Research. Rapid adoption of Internet of Things (IoT)-enabled Heating, Ventilation, and Air Conditioning (HVAC) systems and rising demand for voice-assisted home automation systems are major factors driving revenue growth of the market. Smart home devices such as Amazon Alexa and Google Home enable users to use voice commands to make inquiries and play music. Smart thermostats that are integrated and connected provide the feasibility of learning household patterns and adjusting heating and cooling according to when a home is occupied or is about to be occupied. This reduces the use of heating and cooling systems thereby significantly reducing energy bills.
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Market Dynamics:
The report explains the scope of various commercial possibilities in the global Smart Thermostats market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.
Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments.
The report also covers strategic business measures undertaken by the companies to gain substantial market share.
Key Companies Profiled in the Report:
Trane Technologies, Siemens, Legrand, Johnson Controls, Resideo Technologies Inc., Nortek, Bosch Thermotechnik GmbH, Zen Within Inc., Vine Connected Corporation, Mrcool
Target Audience of the Global Smart Thermostats Market Report:
- Key Market Players
- Investors
- Venture capitalists
- Small- and medium-sized and large enterprises
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Smart Thermostats Market Segmentation:
-
Connectivity Technology Outlook (Revenue, USD Billion; 2019-2032)
- Wireless Network
- Wired Network
-
Product Outlook (Revenue, USD Billion; 2019-2032)
- Standalone Smart Thermostat
- Connected Smart Thermostat
- Learning Smart Thermostat
-
End-use Outlook (Revenue, USD Billion; 2019-2032)
- Industrial
- Hospital
- Educational Institutes
- Others
Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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