smart thermostats market

Technology is a crucial tool in the smart thermostats market. Advancement in technology
owing to research and development has provided different types of smart thermostats.
Even some thermostats can sense a person depending upon range. If a person is in the
range of thermostats sensing device, it will start cooling or heating system or else the
system will remain off. Different ranges can be set on a device depending upon the user’s
requirements. Some thermostats are even equipped with voice control system.
Energy saving is the major factor driving the growth of the global smart thermostats market.
The technology helps in reduction of energy bills as well as save energy. In Europe
and North America, smart business owners are increasingly adopting the smart thermostats
for heating, ventilation, and air conditioning (HVAC) systems to manage their power
consumption. Advancement in technology has provided the customers with different types
of smart thermostats depending upon their needs. Increasing energy demand coupled
with the rising energy prices is forcing the customers to use smart thermostat systems in
their houses. Low disposable income is hampering the growth of the market in the developing
countries.
Some of the key players in the global smart thermostats market are Allure Energy Inc.,
Honeywell International Inc., Radio Thermostat Company of America, Schneider Electric,
Ecobee, Blue Line Innovations Inc., Nest Labs, Sigma Designs, Inc., Energate Inc., Ingersoll-Rand
plc, CPS Energy and Venstar Inc. among others.
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