Smart Thermostat Market Trends, Company Share To 2022: Grand View Research, Inc.
New Market Research Reports Title “Smart Thermostat Market Analysis Size and Segment Forecasts to 2022” Has Been Added to GrandViewResearch.com Report Database.
The global smart thermostat market is expected to reach USD 2.21 billion by 2022, according to a new study by Grand View Research, Inc. These devices allow users to remotely manage their heating and air conditioning systems using wireless connectivity and mobile apps. They form an important part of smart homes and have gained immense demand from residences in developed regions such as North America and Europe.
The smart thermostat market is expected to witness growth since they display energy consumption in real-time and are able to adjust itself based on ambient conditions automatically. They can connect to the internet and offer analytics and performance measurement tools through web portals. Such devices are packed with technologies such as ZigBee or Wi-Fi and form a part of the home automation ecosystem.
Browse full research report on Global Smart Thermostat Market: http://www.grandviewresearch.com/industry-analysis/smart-thermostat-market
Energy and utility retailers also play a vital role in bringing devices into households. May utilities are offering these products as a part of their home energy management schemes. Involvement of energy retailers heightens the potential for smart thermostat industry growth. At the same time, proliferation of mobile phones and its convergence with thermostats is makes these products much more attractive for end-users.
Growing penetration of smartphones, rising energy costs, need for effective energy management solutions and favorable regulatory scenario are expected to propel growth over the coming years. However, high cost of devices and data security concerns may restrain the smart thermostat market. Increased penetration of Near Field Communication (NFC) and ZigBee home automation devices is expected to augment demand.
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Further key findings from the study suggest:
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the smart thermostat market on the basis of technology and region:
Smart Thermostat Technology Outlook (Revenue, USD Million, 2012 – 2022)
Smart Thermostat Regional Outlook (Revenue, USD Million, 2012 – 2022)
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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