Global Smart Thermostat Market to Enjoy Colossal Growth to 2022, Expects Azoth Analytics in Its Cutting-Edge Report Available at MarketPublishers.com27 Oct 2017 • by Natalie Aster
LONDON – Over 2012-2017, the world’s smart thermostat market exhibited tremendous uptake at a CAGR of nearly 20%, and in 2017 reached the value of USD 1.36 billion.
The demand for smart thermostats is fueled by favourable government regulations and steady IoT expansion. But, there are also certain challenges, for instance, lack of communication networking and high costs.
In the foreseeable future, the global smart thermostat market will likely be spurred by ongoing technological advancements along with the introduction of novel inbuilt sensors. Other considerable market growth engines include robust urbanisation, increasing carbon emissions, rising number of Internet users, surging smartphone penetration, amid others.
Through 2022, the world’s market for smart thermostat is forecast to enjoy colossal growth at a tremendous CAGR of slightly over 35%. The wireless sector is poised to raise at the swiftest pace.
Amid the regional markets, North America is an unrivalled leader. However, the highest CAGR is anticipated in the Asia-Pacific market for smart thermostats; the largest contribution to this region’s market growth will be made by China and India.
Cutting-edge research report “Global Smart Thermostat Market Analysis By Technology, Application, Components, By Region, By Country: Opportunities and Forecast (2012-2022)” by Azoth Analytics presents a detailed analysis of the worldwide smart thermostat market with relevant info on the market segmentation, landscape, structure and regional breakdown. It uncovers updated info on the market size, value, shares and growth rates; scrutinises the market dynamics focusing on the major growth restraining and fueling forces, touches upon the prevailing trends and pinpoints top growth barriers and opportunities. Moreover, this research study sheds light on the competitive landscape with a close view on the leading market participants, offers a look at the regulative framework, etc. In addition, this report provides a five-year future outlook for the smart thermostat market.
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