Global Smart Thermostat Market Analysis By Technology (Wired, Wireless - Wi-Fi, ZigBee, Others), Application, Components Opportunities and Forecast 2012-2022

The market of smart thermostats has witnessed tremendous growth of ~ 20% globally in the period 2012-2017 and amounted to USD 1.36 billion in the year 2017.

Rising government regulation and IoT expansion has increased the demand of smart thermostat; however, there are certain challenges that will need to be addressed, including the high cost of smart thermostat and lack of communication networking. Further, advancement in technologies and new inbuilt sensors will going to boost the global market in the forecast period. In the recent years, many leading manufacturing companies are dedicated in developing the smart thermostat technologies, with the major focus on to reduce the cost and improving smart device integration.

The Wireless ZigBee and Z-Wave standards has also been started to further simplify the failure in the network system due to increasing complexity. Apart from using the smart thermostats in residential buildings, many manufacturing, mining and chemical industries have also raised the demand for smart thermostats for the automated temperature control.

The global market is projected to display even higher growth represented by a CAGR of 35.29% during 2017-2022. The market will chiefly driven by increase in urbanization and rising carbon emission, growing internet users and smartphone penetration, government regulations to use energy saving devices and growing advancements in the thermostat technology.

The wireless segment is rising at a higher rate due its advanced control through apps from any location, thereby gradually taking over the entire wired network. Among the regions, North America accounts for the largest regional share in the total smart thermostat market in 2016 while Asia Pacific region is predicted to advance at the highest rate, mainly driven by the growing economies in China, India with the growth in urban population, emerging industries and new smart infrastructure built and technological improvement in Singapore, South Korea, Vietnam, etc.

Scope of the Report

Global Market (Actual Period: 2012-2016, Forecast Period: 2017-2022)

Regional Markets - North America, Europe, APAC, and RoW (Actual Period: 2012-2016, Forecast Period: 2017-2022)

Country Analysis - US, Canada, Germany, France, U.K., China, Japan and U.A.E. (Actual Period: 2012-2016, Forecast Period: 2017-2022)

Other Report Highlights

For more information about this report visit https://www.researchandmarkets.com/research/2d28gd/global_smart?w=5

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