The study covers a detailed analysis segmented by key business segments i.e. by type (Smart Thermostat, Mechanical Thermostat and Programmable Thermostat) , by application (Residential, Commercial [Educational Institution, Office Buildings, Retail, Hospitals] and Industrial) and major geographies. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Thermostat market throughout the predicted period.
What is Thermostat?
The thermostat is a device that mechanically controls the temperature when the temperature reaches certain point. The thermostat market is expected to witness a high growth prospect owing to the rise in awareness among customers about the benefits of smart thermostats. Further, increasing demand from the residential, commercial, and industrial sectors propelling market growth. In addition, the rising adoption of smart thermostats for residential buildings expected to drive market growth.
The competition is expected to become even more intense in the years to come due to entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Thermostat market analysis report suggests strategies Manufacturers can follow and recommends key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Manufacturers, including:
- Trane (Ireland)
- Honeywell International Inc. (United States)
- Google (United States)
- Carrier Corporation (United States)
- Schneider Electric SE (France)
- Emerson Electric Co. (United States)
- Ecobee (Canada)
- Control4 Corporation (United States)
- Nortek Inc., (United States)
- Tado (Germany)
- Nest Labs (United States)
- Ingersoll Rand (Ireland)
- Johnson Controls (United States)
Market Trend
Emphasizing On Development of Heating/Cooling Technologies and Increasing Demand for Configurable Thermostats
Restraints
- Complex Programming in Thermostat
Opportunities
Rising Demand for the Smart Thermostat and Growing Industrializations in the Developing Economies
Key highlights of the Global Thermostat market Study:
CAGR of the market during the forecast period 2020-2026
In-depth information on growth factors that will accelerate the Thermostat market in next few years.
Detailed Insights on futuristic trends and changing consumer behaviour
Forecast of the Global Thermostat market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Manufacturers
Comprehensive information about factors that will challenge the growth of Thermostat Manufacturers
Transformation and Important Trigegrs:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Thermostat market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Thermostat market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Thermostat Manufacturers, Thermostat Providers, Potential Investors, Government Associations, End-Use Industries and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.