Smart Thermostat Marketreport consists of an extensive primary research, as well as an in-depth analysis of the qualitative and quantitative aspects by various industry specialists and professionals, to gain a deeper insight of the market and the overall landscape. Smart Thermostat market also shows information of Product awareness, adept workforce, technological advancements, raw material affluence, favorable environment, and rapidly growing product demand are some factors that persistently boost the growth of the Smart Thermostat market.
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Scope of the Report:
Major Key Players:
Market Overview:
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Key Market Trends:Increasing Internet Penetration and Connected Devices are Driving the Market Growth- Increasing internet penetration, coupled with the increased usage of smartphones and other mobile devices has resulted in an increased spread of connectivity, owing to the rise in internet-connected devices.- Owing to technological advancements, the appliances in residential buildings, such as washing machines, heating, and cooling equipment, and refrigerators, are increasingly going smart. This means that they can be connected to the internet.- Due to this, smart thermostats (that also have the ability to be connected to the internet) are increasingly being adopted. This is because they enable users to adjust heating settings from other internet-connected devices, such as smartphones or laptops, which allows them to control the thermostat remotely. This ease of use is necessary for ensuring energy savings.- Additionally, M2M is expected to take home-based IoT to the next level. Manufacturers, like LG and Samsung, are already slowly unveiling smart home appliances to help ensure a higher quality of life for occupants.- For instance, an M2M-capable washing machine could send alerts to the owners’ smart devices once it finishes washing or drying, and a smart refrigerator could automatically order groceries from Amazon once its inventory is depleted.- The increasing popularity of these connected devices is expected to lead to an increased need for control, thereby driving the market growth.Asia-Pacific to Witness a Significant Growth Rate Over the Forecast Period- Consumers are adopting the smart assistant devices, such as Amazon Echo and Google Home for many purposes, with almost one-third of people using it as an information provider responding to questions, and over 40% as an audio speaker for listening to streaming music. The smart thermostats find application among the smart assistants, thereby, fueling its demand across the residential sector across the region.- Moreover, the Chinese government launched the ‘New-Type Urbanization Plan,’ focusing primarily on new-type, smart, and humanities city construction from 2014 – 2020.- Besides, in India, the IGBC (Indian Green Building Council) Green Homes is the first rating program that has been developed, exclusively for the residential sector, whose objective is to facilitate the effective use of site resources, water conservation, energy efficiency, handling of household waste, optimum material utilization, and design for healthy, smart homes.- This will encourage industry players to invest in smart home services, thus, having a positive impact on the smart thermostat market growth.
Competitive Landscape:
Most of the companies present in the market are efficient at the technological front, but require significant support for enhancing their services and expanding their businesses. Thus, mergers and acquisitions offer significant opportunities to gain the attention of a large number of providers across developed regions.
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Smart Thermostat Market Covers Following Points in TOC:
1 INTRODUCTION1.1 Study Deliverables1.2 Study Assumptions1.3 Scope of the Study2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY4 MARKET DYNAMICS4.1 Market Overview4.2 Value Chain / Supply Chain Analysis4.3 Industry Attractiveness – Porter’s Five Forces Analysis4.3.1 Bargaining Power of Suppliers4.3.2 Bargaining Power of Buyers/Consumers4.3.3 Threat of New Entrants4.3.4 Threat of Substitute Products4.3.5 Intensity of Competitive Rivalry4.4 Introduction to Market Drivers and Restraints4.5 Market Drivers4.5.1 Increasing Internet Penetration and Usage of Internet Connected Devices4.5.2 Increasing Popularity of Smart Homes4.6 Market Restraints4.6.1 High Installation Costs and Lack of Interoperability Challenges the Market4.7 Technology Snapshot5 MARKET SEGMENTATION5.1 Geography5.1.1 North America5.1.2 Europe5.1.3 Asia-Pacific5.1.4 Rest of the World6 COMPETITIVE LANDSCAPE6.1 Company Profiles6.1.1 Nest Labs Inc.6.1.2 Honeywell International Inc.6.1.3 ecobee6.1.4 Schneider Electric SE6.1.5 Emerson Electric Co.6.1.6 Lennox International Inc.6.1.7 Alarm.com Inc.6.1.8 LUX Products Corporation6.1.9 Siemens AG6.1.10 Johnson Controls PLC7 INVESTMENT ANALYSIS8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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