Global Smart Thermostat Market Research Report 2020: COVID-19 Outbreak Impact Analysis
Brand Essence Market Research has developed a concise study on the Smart Thermostat market to depict valuable insights related to significant market trends driving the industry. The report features analysis based on key opportunities and challenges confronted by market leaders while highlighting their competitive setting and corporate strategies for the estimated timeline.
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Global Smart Thermostat Market is valued at USD 1648.16 Million in 2018 and expected to reach USD 7181.32 Million by 2026 with the CAGR of 23.40% over the forecast period. The growing internet penetration and rising demand of IOT based services acts as a major driver for the growth of the smart thermostat market.
Scope of Smart Thermostat Market
The Detailed market intelligence report on the Global Smart Thermostat Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Global Smart Thermostat Market place for the forecast 2019 2026.
Smart Thermostat is a thermostat that can be used with home automation and are responsible for controlling a homeâ€™s heating and air conditioning. Smart thermostat enables the user to switch the temperature of the room by using a schedule, for instance setting different temperature during the day time and night time. Smart thermostat are linked with internet which allows its user to manage the heat setting using different internet connected devices, like smartphones, tablets etc. It also permits user to easily switch on/off the heating or air conditioning of room even when they are not inside home or office. A smart thermostat has the ability to make automated and smart adjustments for customers so as to achieve energy savings and to communicate with sources external to an HVAC system. Thus, the demand for smart thermostat is rising at a rapid pace.
Key Players for Global Smart Thermostat Market Reports: Global smart thermostat market report covers prominent players like Honeywell International Inc., Carrier Corporation, Schneider Electric SE, Emerson Electric Co., Ecobee, Control4 Corporation, Nortek, Inc., Tado, Nest Labs, Ingersoll Rand and among others.
Global smart thermostat market report is segmented on the basis of component, network security, application and by regional & country level. Based on component global smart thermostat market is classified as motion sensor, display, temperature sensor, humidity sensor, and others. Based upon network security, global smart thermostat market is classified into wireless network and wired network. Based upon application, global smart thermostat market is classified into industrial, healthcare, commercial, residential, and others.
Geographically, this report split global into several key Regions, revenue (Million USD) The geography (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) focusing on key countries in each region. It also covers market drivers, restraints, opportunities, challenges, and key issues in Global SMART THERMOSTAT Market.
Global Smart Thermostat Market Dynamics The increasing popularity of smart homes and advantages offered by these like ease of use by cloud-based services and improved energy management by self-learning capabilities serves as some of the key factors augmenting the demand for smart Thermostat. According to U.S. Energy Information Administration, in 2015, 12% of the nationâ€™s 118 million households had a central air-conditioning unit that is actually controlled using the programmed thermostat. One in eight U.S. homes largely utilizes a programmed thermostat with a central air conditioning unit. However, factors such as lack of infrastructure, high implementation cost and inconsistency among the wireless networks are some the restraining factors for the growth of smart thermostat market.
Key Benefits for SMART THERMOSTAT Market Reports
â€¢ Global market report covers in-depth historical and forecast analysis.
â€¢ Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
â€¢ Global market report helps to identify opportunities in market place.
â€¢ Global market report covers extensive analysis of emerging trends and competitive landscape.
SMART THERMOSTAT Market Segmentation:
By Component analysis
â€¢ Motion Sensor
â€¢ Temperature Sensor
â€¢ Humidity Sensor
By Network Connectivity analysis
â€¢ Wireless Network
â€¢ Wired Network
By Application analysis
Global Smart Thermostat Market Regional Analysis:
North America is dominating the smart thermostat market owing to factors such as increased internet penetration and technological advancements. According to an investment firm Cowen & Co., it was estimated that around 60.5 million Americans used virtual personal assistants and voice-controlled speakers at least once a month. Also, in 2017, 24% of Americans used Amazon Echo and 31% used Google Home for home control settings following music, shopping, and requesting information applications. With the increase in the use of virtual assistants in home control, the forecast period is likely to witness the exponential adoption of smart thermostat in this region, followed by Europe.
However, Asia-Pacific region is expected to grow rapidly during forecast period. Increasing consumer awareness on the benefits of home energy management systems and the rising penetration of smart home devices and home automation systems will augment the growth in this region.
â€¢ North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o Latin America
o Middle East
This comprehensive report will provide:
â€¢ Enhance your strategic decision making
â€¢ Assist with your research, presentations and business plans
â€¢ Show which emerging market opportunities to focus on
â€¢ Increase your industry knowledge
â€¢ Keep you up-to-date with crucial market developments
â€¢ Allow you to develop informed growth strategies
â€¢ Build your technical insight
â€¢ Illustrate trends to exploit
â€¢ Strengthen your analysis of competitors
â€¢ Provide risk analysis, helping you avoid the pitfalls other companies could make
â€¢ Ultimately, help you to maximize profitability for your company.
Our Market Research Solution Provides You Answer to Below Mentioned Question:
â€¢ Which are the driving factors responsible for the growth of market?
â€¢ Which are the roadblock factors of this market?
â€¢ What are the new opportunities, by which market will grow in coming years?
â€¢ What are the trends of this market?
â€¢ Which are main factors responsible for new product launch?
â€¢ How big is the global & regional market in terms of revenue, sales and production?
â€¢ How far will the market grow in forecast period in terms of revenue, sales and production?
â€¢ Which region is dominating the global market and what are the market shares of each region in the overall market in 2017?
â€¢ How will each segment grow over the forecast period and how much revenue will these segment account for in 2026?
â€¢ Which region has more opportunities?
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The Essential Content Covered in the Global Smart Thermostat Market Report:
* Top Key Company Profiles.
* Main Business and Rival Information
* SWOT Analysis and PESTEL Analysis
* Production, Sales, Revenue, Price and Gross Margin
* Market Share and Size
The report provides a 6-year forecast (2020-2026) assessed based on how the Smart Thermostat market is predicted to grow in major regions like USA, Europe, Japan, China, India, Southeast Asia, South America, South Africa, Others.
Strategic Points Covered in TOC:
Chapter 1: Introduction, market driving force product scope, market risk, market overview, and market opportunities of the global Smart Thermostat market.
Chapter 2: Evaluating the leading manufacturers of the global Smart Thermostat market which consists of its revenue, sales, and price of the products.
Chapter 3: the competitive nature among key manufacturers, with market share, revenue, and sales.
Chapter 4: Presenting global Smart Thermostat market by regions, market share and revenue and sales for the projected period.
Chapters 5, 6, 7, 8 and 9: To evaluate the market by segments, by countries and by manufacturers with revenue share and sales by key countries in these various regions.
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