- The key vendors in the smart thermostat market in North America 2015-2019 are Carrier Corp., Ecobee Inc., Honeywell International Inc. and Nest Labs.
London, 13 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the smart thermostat market in North America 2015-2019. Growing concern over data security is one of the major trends being witnessed in the market. Smart thermostats collect and store huge volumes of data to sense precise customer requirements, which vendors use to conduct R&D regarding the exact needs of their customers. The smart thermostat market in North America 2015-2019 is expected to grow at a CAGR of 46.56% during the forecast period of 2014-2019.
The demand for smart thermostats is rising substantially due to the devices’ ability to reduce annual energy consumption in North American countries. Vendors in the smart thermostat market are also marketing their thermostats with information that highlights the devices’ energy-saving credentials.
“Open-source smart thermostats allow individual users to program their needs into the smart thermostat and assemble them on their own by simply following the prescribed steps,” says Faisal Ghaus, Vice President of Technavio Research.
“While open-source DIY smart thermostats are in a nascent stage due to the unpolished finishing and incorporation of older technology, it may be the beginning of a new era where smart thermostats can be assembled and programmed by customers based on custom requirements.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
