Smart Thermostats : A Look at the Key Applications and Technologies...

Smart Thermostats : A Look at the Key Applications and Technologies

Posted 2023-04-12 07:05:12

The report, additionally, examines the prevailing trends in the market, along with the macro- and micro-economic indicators. The report delivers a deep understanding of the key aspects of the Smart Thermostats market, for instance, import and export dynamics, production and consumption rates, and consumer bases across the major market regions.

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.

The report is updated with the impact of the COVID-19 pandemic on the Smart Thermostats market. Every industry vertical across the globe has been affected by the pandemic, and the report assesses if the impact of the pandemic on the Smart Thermostats market has been positive or negative.

Emergen Research has recently published a detailed report on the global Smart Thermostats market formulated through extensive primary and secondary research. The report offers in-depth knowledge and analysis of the Smart Thermostats market through verified and validated data curated to offer accurate insights.

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The report further divides the Smart Thermostats market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Smart Thermostats market.

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

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The report also studies the key companies of the Smart Thermostats market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities. Some players analyzed in the report are:

Key companies operating in the Smart Thermostats market include:

Trane Technologies, Siemens, Legrand, Johnson Controls, Resideo Technologies Inc., Nortek, Bosch Thermotechnik GmbH, Zen Within Inc., Vine Connected Corporation, Mrcool

The Global Smart Thermostats Report is a panoramic study of the overall Smart Thermostats market published by Emergen Research and covers a wide-ranging analysis of the technological advancements and product developments in the Smart Thermostats market. The report provides a detailed analysis of the key factors of the Smart Thermostats market that are expected to have a positive impact on the growth of the Smart Thermostats industry.

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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)

The report further examines the market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The report also covers the expansion plans undertaken by companies in the regions under the regional analysis section.

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About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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