Smart Thermostats Market Revenue to Hit $1,314 Million by 2019

PUNE, India, October 22, 2015 /PRNewswire/ --

According to the Global Smart Thermostats Market 2015 - 2019 report, the majority of power generation infrastructure uses non-renewable fuels, and therefore, the importance of energy efficiency has gained ground over the last decade. Average annual energy costs have soared in step with the surging use of energy hungry devices such as compressors, pumps, HVAC equipment, lighting systems, and electrical and electronic devices by both residential and industrial users. This has stimulated the market for smart thermostats that are energy efficient.

Complete report on Global Smart Thermostats Market 2015 - 2019 spread across 66 pages, analyzing 5 major leaders and supported with 33 Exhibits is now available at http://www.sandlerresearch.org/global-smart-thermostats-market-2015-2019.html.

This report states that one of the main challenges faced by smart thermostats market is the high initial cost of smart thermostats, which exceeds that of conventional thermostats. The market for smart thermostats is still at its nascent stage, but market research analysts expect the market to grow exponentially, as consumers become more aware of the advantages and features of smart thermostats. It is projected that the global smart thermostat market will generate significant revenue of more than USD 1,314 million by 2019.

The concept of smart homes, which connects domestic appliances such as lighting systems, heating modules, air conditioning units, television sets, computers, entertainment systems, security devices and camera systems using electronic communication units, is rapidly gaining popularity among consumers around the world. The increase in demand for smart homes is expected to drive the demand for smart thermostat market in the forecast period. Order a License Copy of Global Smart Thermostats Market 2015-2019 Report at http://www.sandlerresearch.org/purchase?rname=45593 .

The following companies are the key players in the Global Smart Thermostat: Carrier Corporation, ecobee, Honeywell, Ingersoll-Rand and Nest Labs. Other Prominent Vendors in the market are: Computime, Emerson, Energate, Radio Thermostat Company of America, and Venstar.

Segmentation of the global smart thermostat market by product is done in this research into Standalone smart thermostats, Networked smart thermostats and Learning smart thermostats. By technology, the market segmentation includes Wi-Fi, Zig Bee and Others. The Wi-Fi technology contributed the largest share in 2014, accounting for almost 38% of the overall market share, which is closely followed by the Zig Bee technology. Geographical segmentation of the global smart thermostat market covers North America, Europe, APAC and MEA. North America, which is home to many smart thermostat manufacturing companies such as Nest Labs and Honeywell, represented about 59% share of the market in 2013 and was the largest market for smart thermostats. The market demand for smart thermostats continue to rise steadily in North America, and market research analysts expect it to grow during the forecast period.

This report provides a number of factors contributing to the adoption, limitations, and opportunities of the global smart thermostat market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.

On related lines, SandlerResearch.org also provides another regional research titled "Smart Thermostat Market in North America 2015-2019" at http://www.sandlerresearch.org/pressrelease/smart-thermostat-market-in-north-america-2015-2019.html. The analysts forecast smart thermostat market in North America to grow at a CAGR of 46.56% over the period 2015 - 2019. The following companies are the key players in the Smart Thermostat Market in North America: Carrier, Ecobee, Honeywell International and Nest Labs. Other Prominent Vendors in the market are: Computime, Emerson, Energate, Ingersoll-Rand, Radio Thermostat Company of America, Tado, Trane and Venstar.

Explore more reports on semiconductors and electronics market at http://www.sandlerresearch.org/market-research/semiconductor-electronics .

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