Smart Thermostat Market Projected to Reach a Value of US$ 3.4 Billion by 2023 and CAGR 20%

1. Global Smart Thermostat Market Research Report and Forecast Report Edition: 2019 Copyright © IMARC Service Pvt Ltd. All Rights Reserved © 2019 IMARC All Rights Reserved

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3. Report Description and Highlights Report Description Global Smart Thermostat Market Overview: The latest report by IMARC Group, titled “Smart Thermostat Market: Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the global smart thermostat market size reached US$ .32 Billion in 2018. Smart thermostat form an essential component of control systems that are used to manage the temperature at homes or offices. They aid in controlling the central heating via remotes, tablets or smartphones through the internet. These systems are used with home automation services to enable automatic adjustment of settings based on the user’s preferences. Since they consist of features like sensors and Wi-Fi connectivity, they provide customized stings which minimize the energy consumption while maximizing the comfort. Malic Acid Market Trends Rising environmental consciousness is one of the key factor driving the market growth. The introduction of energy star certified smart thermostats in the market are considered and environment-friendly and enhanced energy-efficient recourse, which is aiding its widespread adoption across the globe. Furthermore, owing to the rise of smart homes installations on account of improving living standards and elevating disposable income levels , the demand for smart thermostats has increased.

4. Report Description and Highlights Report Description In addition to this, these systems offer various advantages to users like monitoring energy utilization and improving indoor ai quality. Apart from, this, the escalating sales of smart homes voice assistants like Amazon Echo and Google Home are also providing impetus to the market growth. On account of these factors, the market in anticipated to reach a value of US$ 4.07 Billion by 2024, registering a CAGR of 20.87% during 2019-2024.

5. Report Description and Highlights Report Description • Also, since they are extremely energy efficient, they assist in reducing the overall expenditure on electricity consumption. • Key Market Segmentation: • Market Segmentation by Product • Standalone Smart Thermostats • Connected Smart Thermostats • Learning Smart Thermostats • On the basis of the product, the market has been divided into standalone smart thermostats, connected smart thermostats and learning smart thermostats. Amongst these ,standalone smart thermostats are the most preferred product type. • Market Segmentation by Component • Display • Temperature Sensors

6. Report Description and Highlights Report Description • Humidity Sensors • Motion Sensors • Others • Based on component, the temperature sensor accounts for the majority of the overall market share. Other major components include display, humidity sensors, motion sensors and others. • Market Segmentation by Technology • Wired • Wireless • Wi-Fi • Zig Bee • Others • On the basis of the technology, the market has been bifurcated into wired and wireless smart thermostats. Presently, wireless smart thermostat the dominant segment. The wireless smart thermostat segment is further classified into Wi-Fi, Zigbee and others.

7. Report Description and Highlights Report Description • Market Segmentation By Application • Residential • Commercial • Industrial • Based on the application, the residential sectors holds the majority of the total market share, followed by the commercial and industrial sectors. • Market Segmentation By Region • North America • Europe • Asia Pacific • Middle East and Africa • Latin America • Based on region, the market has been categorized into North America, Asia Pacific, Europe, Middle East and Africa, & Latin America. Currently, North America holds the leading position in the market.

8. Report Description and Highlights Report Description • Competitive Landscape: • The competitive landscape of the market has also been examined with some of the key players. • Nest Labs, Inc • Honeywell International Inc • Ecobee, Inc • Emerson Electric Co, • Schneider Electric SE • Tado GmbH • Contraol4 Corporation • Carrier Corporation • Nortek, Inc • For more information, click here: https://www.imarcgroup.com/smart-thermostat-market

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10. Partial List of Clients • We are the trusted business partners to the world's leading corporates, governments, and institutions A partial List of our Clients

11. Report Description and Highlights Report Description © 2019 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.

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