This “Smart Thermostat Market” report provides a detailed study on market and how it is impacting the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry. In addition, the report also mentions opportunities that manufacturers operating in the global Smart Thermostat market can use for expanding their business in untapped market to increase their customer base.
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Smart Thermostat Market Covers Manufacturers:
Scope of the Report:
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Key Market Trends:
Increasing Internet Penetration and Connected Devices are Driving the Market Growth
– Increasing internet penetration, coupled with the increased usage of smartphones and other mobile devices has resulted in an increased spread of connectivity, owing to the rise in internet-connected devices.
– Owing to technological advancements, the appliances in residential buildings, such as washing machines, heating, and cooling equipment, and refrigerators, are increasingly going smart. This means that they can be connected to the internet.
– Due to this, smart thermostats (that also have the ability to be connected to the internet) are increasingly being adopted. This is because they enable users to adjust heating settings from other internet-connected devices, such as smartphones or laptops, which allows them to control the thermostat remotely. This ease of use is necessary for ensuring energy savings.
– Additionally, M2M is expected to take home-based IoT to the next level. Manufacturers, like LG and Samsung, are already slowly unveiling smart home appliances to help ensure a higher quality of life for occupants.
– For instance, an M2M-capable washing machine could send alerts to the owners’ smart devices once it finishes washing or drying, and a smart refrigerator could automatically order groceries from Amazon once its inventory is depleted.
– The increasing popularity of these connected devices is expected to lead to an increased need for control, thereby driving the market growth.
Asia-Pacific to Witness a Significant Growth Rate Over the Forecast Period
– Consumers are adopting the smart assistant devices, such as Amazon Echo and Google Home for many purposes, with almost one-third of people using it as an information provider responding to questions, and over 40% as an audio speaker for listening to streaming music. The smart thermostats find application among the smart assistants, thereby, fueling its demand across the residential sector across the region.
– Moreover, the Chinese government launched the ‘New-Type Urbanization Plan,’ focusing primarily on new-type, smart, and humanities city construction from 2014 – 2020.
– Besides, in India, the IGBC (Indian Green Building Council) Green Homes is the first rating program that has been developed, exclusively for the residential sector, whose objective is to facilitate the effective use of site resources, water conservation, energy efficiency, handling of household waste, optimum material utilization, and design for healthy, smart homes.
– This will encourage industry players to invest in smart home services, thus, having a positive impact on the smart thermostat market growth.
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Target Audience of Smart Thermostat Market:
- Manufacturer / Potential Investors
- Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
- Association and government bodies.
Key Reasons to Smart Thermostat Market Report:
- Analyzing various perspectives of the Smart Thermostat market with the help of Porter’s five forces analysis
- The End User that is expected to dominate the Smart Thermostat market is analyzed in detail
- The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of Smart Thermostat market.
- Identify the latest developments, market shares and strategies employed by the major market players.
- Regional analysis of Smart Thermostat market studied, during the forecast period
- The segments that are expected to dominate the Smart Thermostat market studied.
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