DUBLIN--(BUSINESS WIRE)--The "Smart Thermostat Market by Type, Application and End Use: Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
According to the report the global smart thermostat market size was valued at $1.36 billion in 2018, and is projected to reach $8.78 billion by 2026, to register a CAGR of 26.0% during the smart thermostat market forecast.
According to smart thermostat market trends, smart thermostats are installed with remote access software and programmed with artificial intelligence. This enables smart thermostats to get programmed for future schedules to control temperature as per the need of users. It also operates in a self-learning mode by the data its software collects over the period.
Infrared technology is the wireless connectivity used in smart thermostat to access it in the line of sight range using remote device. For instance, smart thermostat by Air Patrol that has integrated infrared floor sensors. Room Unit thermostat with infrared floor sensor makes sure that your bathroom floor is set to the ideal and that the more demanding floor surfaces are kept safe, which offers lucrative smart thermostat market opportunity globally.
According to the smart thermostat market analysis, latest smart thermostat is integrated with Wi-Fi technology which allows wireless connectivity from remote devices. For instance, Honeywell 7-DAY programmable thermostat provide the consumer with WiFi connectivity that enables the HVAC systems to be controlled through remote access.
Rapid adoption of smart infrastructure in residential and commercial infrastructure, penetration of IoT and AI based technologies, and in analysis creased use of smart technology in medical monitoring influences the smart thermostat market growth. However, high cost of products in developing countries hampers early adoption. Further, increased advancements and adoption of automated systems in residential, commercial, and industrial sectors are expected to provide lucrative smart thermostat market opportunity for the smart thermostat market growth during the forecast period.
Asia-Pacific accommodates major population of the globe. The penetration of smart phones and adoption of smart electronic appliances in residential, commercial and industrial sector is expected to grow smart thermostat market. 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.
Key Findings of the Smart Thermostat Market:
- In 2018, the WiFi subsegment generated the highest revenue in the global smart thermostat market size.
- By application, the chemical segment was the highest revenue contributor in 2018.
Key Topics Covered:
2. Executive Summary
2.1. Key Findings
2.1.1. Top Impacting Factors
2.1.2. Top Investment Pockets
2.2. CXO Perspective
3. Market Overview
3.1. Market Definition And Scope
3.2. Key Forces Shaping Smart Thermostat Market
3.2.1. Moderate Bargaining Power of Suppliers
3.2.2. High Threat of New Entrants
3.2.3. Moderate Threat of Substitutes
3.2.4. Moderate Intensity of Rivalry
3.2.5. Moderate Bargaining Power of Buyers
3.3. Market Dynamics
220.127.116.11. Rapid Adoption of Smart Infrastructure In Residential And Commercial
18.104.22.168. The Penetration of IoT And Ai Based Technologies
22.214.171.124. Increased Use of Smart Technology In Medical Monitoring
126.96.36.199. High Cost of Products In Developing Countries Are The Barriers To Early Adoption
188.8.131.52. The Increasing Advancement And Adoption of Automated Systems
4. Smart Thermostat Market, By Technology
5. Smart Thermostat Market, By Application
5.2. Split Ac
5.3. Window Ac
5.4. Portable Ac
6. Smart Thermostat Market, By End Use
7. Smart Thermostat Market, By Region
7.2. North America
8. Competitive Landscape
8.2. Top Winning Strategies
8.2.1. Top Winning Strategies, By Year
8.2.2. Top Winning Strategies, By Development
8.2.3. Top Winning Strategies, By Company
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key Developments
8.6.1. New Product Launches& Development
8.6.2. Other Developments
9. Company Profiles: Smart Thermostat
9.1. Emerson Electric Co.
9.1.1. Company Overview
9.1.2. Company Snapshot
9.1.3. Operating Business Segments
9.1.4. Product Portfolio
9.1.5. R&D Expenditure
9.1.6. Business Performance
9.1.7. Key Strategic Moves And Developments
9.3. Honeywell International Inc.
9.4. Johnson Controls
9.5. Nest Labs (Alphabet Inc.)
9.6. Netatmo (Legrand Sa)
9.7. Schneider Electric S.E.
9.8. Siemens Ag
9.10. Zen Ecosystems
For more information about this report visit https://www.researchandmarkets.com/r/eebamb