Reportstack Announces the Publication of its Research Report - Global Smart Thermostats Market 2014-2018. The following companies are the key players in Global Smart Thermostats Market: Honeywell International Inc., Nest Labs, Ingersoll-Rand plc, Carrier Corp., Ecobee, Energate, Emerson, Computime, Radio Thermostat Company of America, and Venstar.
“One of the major trends witnessed in the market is the rise of home energy management system companies. These companies are doing a very critical job of educating consumers about the potential benefits of smart devices and how consumers can save money by using these devices. These companies make suggestions to consumers to upgrade to smart thermostats to lower their power consumption and thereby save costs. The home energy management companies are therefore promoting energy-saving devices such as smart thermostats to homeowners. Hence, the Global Smart Thermostat market is poised to benefit from the energy management system companies.”
According to the report, one of the major drivers in this market is the increasing power tariffs. There has been a continuous increase in the demand for electricity in recent years, globally. In this regard, smart thermostats can adjust the heating and cooling patterns in a given area on their own through self-learning and thereby save costs and energy wastage for users.
Further, the report states that one of the main challenges faced by the market is the high cost of smart devices. The cost of smart thermostats is relatively higher than a conventional thermostat. Consumers are skeptical about investing in smart thermostats since they lack awareness about the benefits provided by these devices.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit http://www.reportstack.com/product/150766/global-smart-thermostats-market-2014-2018.html
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