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Global thermostat Market 2023-2029 research report gives most upcoming industry information on the market situation and future outlook. This report provides you analysis of Thermostat market size, share, future growth, and cost structure, statistical and comprehensive data of the global market. The report is beneficial for strategists and industry players to plan their future business strategies. This is an in-depth market report, provides all you need to know about the Thermostat Market. It includes the market news and updates about the market current situation, historic data, present market trends , and this factor which is valuable and supportive to the business.
The thermostat market is projected to reach USD 6.4 billion by 2029; it is expected to grow at a CAGR of 20.10% during the forecast period.
With tables and figures helping analyze worldwide Global Thermostat market trends, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
Get more information on this report : request sample pages Top Prominent Players Mentioned in this report: This report also introduces players in the industry from the perspective of the market share, concentration ratio, etc., and describes the leading companies in detail, with which the readers can get a better idea of their competitors and acquire an in-depth understanding of the competitive situation. Key companies covered as a part of this study include: Google Nest,Honeywell,EcoBee,Schneider Electric,Emerson,Carrier,Energate Inc.,Tado GmbH,Control4,Netatmo,Hive Home,Trane,Johnston Controls,DANFOSS,Siemens,Saswell,Computime,Shenzhen Topband,HaiLin Energy Technology and others.
Market Developments
In December 2020 , Carrier launched an updated zoning sensor to be used with its flagship Infinity System. The sensor provides homeowners with a wall control featuring a new, contemporary design, with the ability to control an individual zone in an Infinity zoning system.. In October 2020 , Google Nest launched a new version of Nest Thermostat. By using AI, it keeps homes comfortable while helping people save energy and identify issues with their eligible HVAC systems. In September 2020 , Eni gas e luce and tado formed a partnership in which the latter's smart thermostat solution will be a part of Eni gas e luce's smart home offerings for the Italian market, strengthening the brand's energy efficiency offerings. In February 2020 , Resideo expanded to a new, state-of-the-art technical center in Lotte. With this step, Resideo underscores its commitment to the region. The new technical center will be the work area of various development departments in Lotte that specialize in measuring and testing safety devices for globally operating boiler manufacturers. In January 2020 , Carrier partnered with ecobee to offer co-branded versions of the ecobee3 lite Pro and ecobee SmartThermostat Pro with voice control. These thermostats offer homeowners a new way to experience personalized comfort and enhanced energy savings at home.
Global Thermostat Market Segmentation:
Market segment by Type :
Non-Programmable Type
Programmable Type
Smart Type
WiFi Type
Market segment by Application:
Business
Industrial
Residential
Asia Pacific to register highest CAGR for smart thermostat market during the forecast period
Asia Pacific (APAC) has been a major contributor to the growth of the thermostat market as the construction industry, which is the primary end user of smart thermostats, is expanding at a healthy rate. The growing population in developing countries of this region, along with environmental awareness, is supporting the adoption of HVAC controls, such as smart thermostats. The rise in the adoption of green buildings and government initiatives to regulate energy-efficient practices across the commercial sector is also aiding the adoption of smart thermostats in the region.
High domestic demand for products and services and significant business growth opportunities have increased the development of commercial buildings, such as offices and retail, and residential buildings. Japan has a large population base of older people who find it difficult to control the temperature manually. Hence, automation devices such as smart thermostats are witnessing high adoption, given their self-learning feature for temperature control.
Further, the growing popularity of chilled and frozen foods in Asia Pacific reflects a change in food preferences; in response, the Chinese industrial infrastructure is expanding to accommodate cold chain operations, which would include maintaining cold warehouses. These cold warehouses are expected to implement smart thermostats to ensure energy efficiency. These factors are expected to support the growth of the smart thermostat market in the region.
Regional Insight:
The Middle East and Africa (Turkey, GCC Countries, Egypt, South Africa)
North America (United States, Mexico, and Canada)
South America (Brazil etc.)
Europe (Germany, Russia, UK, Italy, France, etc.)
Asia-Pacific (China, Japan, Philippines, Korea, India, Indonesia, and Australia)
This report aims to provide:
– A qualitative and quantitative analysis of the current trends, dynamics, and estimations from 2023 to 2029.
– The analysis tools such as SWOT analysis and Porter's five force analysis are utilized, which explain the potency of the buyers and suppliers to make profit-oriented decisions and strengthen their business.
– The in-depth market segmentation analysis helps identify the prevailing market opportunities.
– In the end, this Thermostat report helps to save you time and money by delivering unbiased information under one roof.
Key question answered in this report
What will the market size be in 2029 and what will the growth rate be? What are the key market trends? What is driving this market? What are the challenges to market growth? Who are the key vendors in this market space? What are the market opportunities and threats faced by the key vendors? What are the strengths and weaknesses of the key vendors? Table of Contents: Thermostat Market
Part 1: Overview of Thermostat Market
Part 2: Global Thermostat Market Status and Forecast by Regions
Part 3: Global Market Status and Forecast by Types
Part 4: Global Market Status and Forecast by Downstream Industry
Part 5: Market Driving Factor Analysis
Part 6: Market Competition Status by Major Manufacturers
Part 7: Major Manufacturers Introduction and Market Data
Part 8: Upstream and Downstream Market Analysis
Part 9: Cost and Gross Margin Analysis
Part 10: Marketing Status Analysis
Part 11: Market Report Conclusion
Part 12: Thermostat: Research Methodology and Reference
Finally, the Thermostat Market report is the believable source for gaining the market research that will exponentially accelerate your business.
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