HVAC Controls Market Dynamics: Increasing Adoption of Smart Devices

1. MarketsandMarkets Presents HVAC Controls Market Dynamics: Increasing Adoption of Smart Devices HVAC Controls Market by System (Temperature, Ventilation, Humidity, Integrated Controls), Component (Sensors, and Controllers & Controlled Devices), Implementation Type (New Construction, Retrofit), Application, and Geography - Global Forecast to 2023 https://www.marketsandmarkets.com/Market-Reports/smart-hvac-controls-market-130456761.html

2. The HVAC controls market is mainly dependent on HVAC equipment, as they are a vital part of HVAC systems. The demand for HVAC equipment is increasing because of the boom in the construction sector across the globe. Increasing urbanization in developing countries of APAC has created a huge demand for HVAC equipment. For instance, upcoming projects in India related to smart cities, bullet trains, and infrastructural development are fueling the growth of the HVAC equipment and controls market in this country. Population growth and urbanization are driving the market for HVAC equipment and, eventually, the market for HVAC controls. An increasing number of public–private partnership (PPP) projects are boosting the construction sector in the Middle East. The Tarif International Airport construction project in Saudi Arabia is a prime example of a PPP project, which includes the construction of the airport to handle 5 million passengers yearly. Several construction projects are getting implemented in Qatar because of the 2022 FIFA World Cup. Suspended construction projects in the UAE due to the global economic crisis have been fully recovered. Such boom in the construction sector is fueling the demand for HVAC equipment, thus driving the HVAC controls market growth. Browse 109 market data Tables and 63 Figures spread through 161 Pages and in-depth TOC on "HVAC Controls Market - Global Forecast to 2023"

3. Lack of awareness about the benefits of HVAC controls Global warming and energy-saving have become major issues to be handled globally. However, awareness regarding the use of effective HVAC systems and controls is low. The implementation of HVAC in residential buildings in developed countries is high; however, because of the high cost associated with the implementation of HVAC, the adoption is low even though the environmental benefits are high. Setting up an HVAC system in a building is a part of a subcontract given to a specialized company by contractors. However, a majority of subcontracting companies lack technical expertise and also have the financial budget issue, which lead to the implementation of ineffective HVAC systems and controls. Additionally, with respect to contractors of HVAC systems, there is a lack of awareness regarding the standards for HVAC. Ask PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=130456761 Residential HVAC construction firms are unaware of the latest SEER standards, which would ultimately hamper their business. These factors are hindering the adoption of HVAC controls, which leads to the setting up of HVAC equipment with manual operation systems. However, governments support the adoption of HVAC systems by providing tax credits and rolling out regulations and standards.

4. Increasing adoption of smart devices Continuous development of technologies and rapid innovation in various devices have increased the interest of customers toward the use of devices such as smartphones in HVAC. Inability to understand the technicality of devices and handle HVAC systems in a building has given rise to the concept of smart devices such as smartphone, smart thermostat, and smart meter. Smart devices deliver real-time data and enable a user to remotely manage HVAC systems. In case of commercial buildings, smart devices help gather information in the cloud architecture and send it to a facility manager (FM)of a building; this enables the FM to optimize the energy consumption in the building. The trend of remotely handling HVAC controls in a residential building has increased owing to the high use of smartphones. Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=130456761 Applications of the aforementioned devices in commercial buildings allow operators to collect data over time and optimize energy consumption. The use of Wi-Fi thermostat and programmable thermostat via smart phones helps in managing and saving energy. Honeywell, Emerson, Venstar, Danfoss. and Rheem Manufacturing Company are some of the companies that develop smart devices, including color touch thermostat and voice-enabled thermostat.

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