The global Smart Thermostats market was valued at 1096.78 Million USD in 2021 and will grow with a CAGR of 15.08% from 2021 to 2027, based on HNY Research newly published report.

The prime objective of this report is to provide the insights on the post COVID-19 impact wwhich will help market players in this field evaluate their business approaches. Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).

Smart thermostats are devices that can be used with home automation and are responsible for controlling a home`s heating and/or air conditioning. They perform the same functions as a Programmable thermostat as they allow the user to control the temperature of their home throughout the day using a schedule, such as setting a different temperature at night.North America is also leading the downstream consumption market, occupied about 71.71% market share in 2018, Europe followed with 19.47% market share. APAC is expected to see high growth in forecast period, reaching about 3828.7 K Pcs consumption in year 2024, about 14.49% sales share in global market.Smart thermostat is has proved beneficial in a wide range of applications and is gaining attention over the past decade owing to its advantages and the increasing awareness among customers. The growing urbanization, rise in population, and the requirement for connected devices in smart homes act as drivers for this market. The encouragement from the government for energy-saving devices further contributes to the growth of the smart thermostat market.

By Market Verdors:

Google Nest

Honeywell

EcoBee

Schneider Electric

Emerson

LUX/GEO

Carrier

Energate Inc.

Tado GmbH

Control4

Netatmo

Hive Home

By Types:

WiFi Thermostats

ZigBee Thermostats

By Applications:

Residential

Commercial

Key Indicators Analysed

Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.

Market Trends: Market key trends which include Increased Competition and Continuous Innovations.

Opportunities and Drivers: Identifying the Growing Demands and New Technology

Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

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