Smart Thermostat Market Growing at 31.82% CAGR to 2020 Forecast New Global and Regional Research Reports

PUNE, India, September 28, 2015 /PRNewswire/ --

European markets and high energy savings are driving the smart thermostat market growth, globally, during the forecast period of next 4 - 5 years, supported with the decrease in energy wastage offered by these devices.

Complete report on smart thermostat market spread across 127 pages, profiling 10 smart thermostat companies and supported with 75 tables and 54 figures is now available at http://www.rnrmarketresearch.com/smart-thermostat-market-by-component-network-connectivity-wired-wireless-application-residential-office-building-industrial-building-educational-institutional-retail-hospitality-and-healthcare-and-geography-forecast-to-2020-market-report.html .

Smart thermostats are automation devices connected with HVAC systems to control the heating and cooling systems with in an area. A typical smart thermostat includes a display unit, motion sensor, temperature sensor, humidity sensor, and other components which include ring and wiring of the smart thermostat. Smart thermostats are costly as compared to conventional thermostats; therefore, at present, the market size of smart thermostats is not very large. However, in the coming years smart thermostat market is expected to grow at a high CAGR of 31.82% between 2015 and 2020. The high energy saving and decrease in energy wastage offered by these devices has led to increased awareness among consumers, which has boosted its adoption in recent times. North America held the major share in the smart thermostat market in 2014. However, the European market is expected to grow at the highest CAGR during the forecast period.

This research study segments the smart thermostat market on the basis of components, network connectivity, applications, and geography. It also provides revenue forecast, and analyzes the trends in the market. The geographical analysis contains an in-depth classification for North America, Europe, APAC, and Rest of the World (RoW) and highlights the high-growth regions in these geographies. The report also analyzes the smart thermostat market dynamics such as drivers, restraints, opportunities, current market trends, and the technologies that are expected to revolutionize the smart thermostat market. It includes a competitive landscape of the key players in the market with detailed market ranking analysis and describes the growth strategies such as mergers and acquisitions, collaborations, partnerships, new product developments, and others adopted by the market players.

The key companies of smart thermostat market include Nest Labs (U.S.), Honeywell international (U.S.), Ecobee (Canada), Schneider Electric SE (France), Emerson Electric Co. (U.S.), Tado (Germany), Control4 Corporation (U.S.), Ingersoll Rand (Ireland), Carrier Corporation (U.S.) and Nortek, Inc. (France). Order a copy of Smart Thermostat Market by Component , Network Connectivity (Wired, Wireless), Application (Residential, Office Building, Industrial Building, Educational Institutional, Retail, Hospitality, and Healthcare), and Geography - Forecast to 2020 research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=419190 .

The residential application is expected to grow at the highest CAGR and holds the largest market share, owing to the increasing awareness among consumers about the benefits of smart thermostats. The overall smart thermostat market including hardware and service is expected to grow from USD 585.09 Million in 2014 and reach 5.9 Billion by 2020, at a CAGR of 31.82% between 2015 and 2020. The industrial application is also growing this technology is being increasingly adopted at all levels from the warehouse to the assembly line in the industry. The recently developed second-generation smart thermostats by Nest Labs (U.S.) are being adopted in the residential application as they are easy to install have an attractive look.

Another relevant and regional research titled Smart Thermostat Market in North America 2015-2019 forecasts the North American smart thermostat market to grow at 46.56% CAGT to 2019. Based on the operation, the industry in North America is segmented into three: Wi-Fi-enabled, ZigBee-enabled, and others. The report, Smart Thermostat Market in North America 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers North America in detail; it also covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market. Key country coverage includes US, Mexico and Canada. Companies like Carrier, Ecobee, Honeywell International, Nest Labs, Computime, Emerson, Energate, Ingersoll-Rand, Radio Thermostat Company of America, Tado, Trane and Venstar are mentioned in this 59 pages research available at http://www.rnrmarketresearch.com/smart-thermostat-market-in-north-america-2015-2019-market-report.html .

Explore more reports on the electronics market at http://www.rnrmarketresearch.com/reports/information-technology-telecommunication/electronics .

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