Emerging Trends for Worldwide Thermostats Industry Market (2019-2026): Business Strategy, Opportunity, Segmentation, Competitive Landscape and Regional Analysis

Emerging Trends for Worldwide Thermostats Industry Market (2019-2026): Business Strategy, Opportunity, Segmentation, Competitive Landscape and Regional Analysis

Ÿ   Base Year: 2018

Ÿ   Estimated Year: 2019

Ÿ   Forecast Period: 2019 to 2026

According to the report, the global thermostats market is valued at approximately USD 1,682 million in 2019 and is expected to generate revenue of around USD 3,741 million by 2026, growing at a CAGR of roughly 12.10% from 2019 and 2026.

Smart thermostats help users to change several thermostat settings from their smartphone and, in some cases, a computer and web browser or with user’s voice using a device such as the Amazon Echo.

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Key Players:

Key players in the Thermostats market include Danfoss, Siemens, Schneider Electric, Strix, Johnson Controls, Honeywell, Saswell, Otter Controls, Jiujiang HengTong, FOLAND, HaiLin, Jiu Long Thermostat, Development Alliance, FSTB, Ningbo Sunlight, etc.

Market Driver and Restraint

The growth of the thermostats market is mainly attributed to the increasing awareness of energy management paired with advancement in technology. Furthermore, the need for remote access solutions to monitor and control energy consumption, rising energy prices are some of the key factors expected to stimulate this market’s growth in the forecast period. However, data security concerns and the high initial cost of devices are some factors estimated to restrain the growth of the thermostats market.

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Forecast by Geography

Europe is the global market leader at a share of 33.25%. The Asia-Pacific is currently leading North America with a share of 28.62% and 27.63%. Asia Pacific are expected to have significant growth during the years to come due to the increasing awareness of energy management coupled with rising disposable income.

Type Segment Analysis

The type of the Thermostats market can be divided into Wired Networking, Wireless Network, and Other.

Application Segment Analysis

Thermostats is widely used in Residential, Commercial, Industrial, and Other Applications.

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Target Audience:

•     Thermostats manufacturers

•     Technology providers

•     Small and Medium-sized Enterprises (SMEs)

•     Distributors and resellers of thermostats

•     Thermostats industry associations

•     Product managers, thermostats industry administrator, C-level executives of the industries

•     Market Research and consulting firms

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