The new report titled ‘Global Smart Thermostats Market’, published by Emergen Research, is methodically curated by our team of analysts, keeping readers’ understanding in mind, and includes a wide-ranging database of industry distribution. Researchers have taken a holistic approach towards the global market analysis and highlighted the factors that influence the overall growth of the market. The study involves the use of efficient analytical tools like SWOT analysis and Porter’s Five Forces to inspect the strengths, weaknesses, opportunities, and threats associated with the growth of the various market segments.

The global smart thermostat market size was USD 2.99 Billion in 2022 and is expected to register a revenue CAGR of 20.8% during the forecast period, according to the latest analysis by Emergen Research. Rapid adoption of Internet of Things (IoT)-enabled Heating, Ventilation, and Air Conditioning (HVAC) systems and rising demand for voice-assisted home automation systems are major factors driving revenue growth of the market. Smart home devices such as Amazon Alexa and Google Home enable users to use voice commands to make inquiries and play music. Smart thermostats that are integrated and connected provide the feasibility of learning household patterns and adjusting heating and cooling according to when a home is occupied or is about to be occupied. This reduces the use of heating and cooling systems thereby significantly reducing energy bills.

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Key Points of Smart Thermostats Market:

• Extensive coverage of the analysis of the Smart Thermostats market
• Key insights into the regional spread of the industry in key geographies
• Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
• Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Smart Thermostats market
• Complete data about the key manufacturers and vendors in the Smart Thermostats market

Market Drivers:

The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.

The report also talks about the shift in demands and emerging trends that are expected to drive the growth of the market. The rising demand for the Smart Thermostats products is expected to drive the demand for Smart Thermostats, thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.

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Regional Analysis:

The report sheds light on the region expected to dominate the Smart Thermostats market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Smart Thermostats market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.

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Leading Companies of the Smart Thermostats Industry and Profiled in the Report are:

Trane Technologies, Siemens, Legrand, Johnson Controls, Resideo Technologies Inc., Nortek, Bosch Thermotechnik GmbH, Zen Within Inc., Vine Connected Corporation, Mrcool

Based on Type, the Smart Thermostats Market is segmented into:

• Connectivity Technology Outlook (Revenue, USD Billion; 2019-2032)

  • Wireless Network
  • Wired Network

• Product Outlook (Revenue, USD Billion; 2019-2032)

  • Standalone Smart Thermostat
  • Connected Smart Thermostat
  • Learning Smart Thermostat

• End-use Outlook (Revenue, USD Billion; 2019-2032)

  • Industrial
  • Hospital
  • Educational Institutes
  • Others

Thank you for reading our report. Customization of this report is available in chapter-wise or region-wise sections. Kindly get in touch with us to know more about the report, and our team will provide excellent assistance.

About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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