The Global Smart Thermostat Market size is anticipated to grow at a CAGR of around 19% during the forecast period, i.e., 2021-26. According to MarkNtel Advisors Study.
Global Smart Thermostat Market Driver:
Rising Concerns Regarding Energy Consumption: The increasing concerns over reducing energy consumption levels and promoting environmental protection is the most prominent factor infusing the adoption of Smart Thermostats. Governments of different countries worldwide are taking various initiatives to control the high energy consumption levels & minimize carbon emissions, i.e., encouraging consumers to deploy smart devices at their homes. In addition to this, Smart Thermostats help save electricity costs & reduce energy wastage. Hence, the rising awareness regarding the benefits of Smart Thermostats is propelling the overall market growth.
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Key Market Reports Highlights
· Market Dimensions & Projections
· Pricing Evaluation
· Recent Strategic Moves by Companies
· Primary Stakeholders
· Import/Export Trend Analysis
· Competitive Landscape Assessment
· Emerging Opportunities
· Market Trends and Indicators
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Global Smart Thermostat Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2020
-Historical Period: 2016 to 2019
-Forecast Period: 2021 to 2026
- By Technology
- Wireless
- Bluetooth
- Wifi
- ZigBee
- Z-Wave
- Wired
- Wireless
- By Component
- Sensor
- Temperature Sensor
- Motion Sensors
- Humidity Sensors
- Display
- Others
- Sensor
- By End User
- Residential
- Industrial
- Retail
- Hospitality
- Education
- Office Building
- Healthcare
- Others (government, etc.)
- By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including - Emerson Electric Co., Nest Labs, GridPoint, Inc., Tado GmbH, Honeywell International, Computime Group Ltd., Schneider Electric SE, Radio Thermostat Company of America, Ecobee, Inc., Control4 Corporation, Carrier Corporation, Siemens AG, Johnson Controls, Zen Ecosystems, Resideo Technologies, Inc., etc. are looking forward to strengthening their market positions.
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