Smart HVAC Controls Market to witness major growth in coming years
Category: #Technology  By Rahul Varpe  Date: 2021-03-29
  • share
  • Twitter
  • Facebook
  • LinkedIn

Smart HVAC Controls Market to witness major growth in coming years

Smart HVAC Controls Market is projected to surpass USD 25 billion by 2024. Continuously changing climatic conditions are encouraging the users to implement these systems in both old & new constructions. The growing need for energy efficiency in light of the growing awareness about reducing carbon footprints is driving industry growth. The governments of several countries have mandated the use of these systems to increase energy efficiency and reduce costs.

The growing adoption of IoT technology and building automation solutions is driving the smart HVAC controls market growth. The integration of the technology with the HVAC systems allows the real-time monitoring of environmental changes. Growing adoption of smart homes is encouraging users to adopt these systems owing to the ease-of-use and a high degree of flexibility offered by these systems. Furthermore, the implementation of these systems with IoT allows these systems to react fast and offer more comfort to users.

Request sample copy of this report @ https://www.decresearch.com/request-sample/detail/710

High initial costs of these systems are expected to hinder the smart HVAC controls market growth over the next six years. Despite considerable energy & cost savings of these systems, high costs discourage small users in implementing these systems. Also, high maintenance requirements and complexity of these systems restrict the industry growth. The manufacturers are developing innovative products to increase the awareness of these systems by developing smartphone-based apps.

Smart thermostats are expected to gain a considerable share in the smart HVAC controls market as consumers are increasingly looking for ways to integrate intelligent heating and cooling with smart devices. In 2016, the Environmental Protection Agency (EPA) finalized the Energy Star specification for smart thermostats to improve energy savings. The manufacturers are developing systems that can be integrated with several consumer electronics such as Google Home and Amazon Echo. This will encourage consumers to adopt these systems, propelling the smart HVAC controls market growth.

The Asia Pacific smart HVAC controls market is expected to grow significantly over the forecast timespan due to the growth in construction activities in the region. Rapid urbanization and continuously growing population are increasing the construction of residential & commercial buildings, particularly in countries including India, China, and Japan. The governments in these countries are investing heavily in the infrastructure development projects, thus positively impacting the demand for these products. The growth in demand for properties in developing areas is propelling the real estate sector, aiding industry growth.

Make Inquiry about this report @ https://www.decresearch.com/inquiry-before-buying/710

Some of the key players in the smart HVAC controls market include: United Technologies, Lennox International, Ingersoll-Rand, Plc., Hitachi Ltd., Schneider Electric, Haier Group, and KMC Keen Home. The industry is highly diversified due to the presence of several regional and global players. New players are finding it increasingly difficult to enter the market and compete with the existing players in terms of quality, features, and price. Also, constant technological advancements and high R&D capabilities allow the global players to retain a dominant position in the industry.

Table Of Content

Chapter 1.   Methodology and Scope

1.1.  Definition and forecast parameters

1.1.1. Definitions & scope

1.1.2. Assumptions, methodology & forecast parameters

1.2.  Data Sources

1.2.1. Primary

1.2.2. Secondary

Chapter 2.   Executive Summary

2.1.  Smart HVAC controls industry 3600 synopsis, 2013 - 2024

2.1.1. Business trends

2.1.2. Regional trends

2.1.3. Product trends

2.1.4. Application trends

Chapter 3.   Smart HVAC Controls Industry Insights

3.1.  Industry segmentation

3.2.  Industry landscape, 2013 – 2024

3.2.1. Smart homes industry landscape

3.2.1.1.  Smart homes market size & forecast, 2013 – 2024

3.2.1.1.1.  North America

3.2.1.1.2.  Europe

3.2.1.1.3.  Asia Pacific

3.2.1.1.4.  Latin America

3.2.1.1.5.  MEA

3.2.2. IoT industry landscape

3.2.2.1.  IoT market size & forecast, 2013 – 2024

3.2.2.1.1.  North America

3.2.2.1.2.  Europe

3.2.2.1.3.  Asia Pacific

3.2.2.1.4.  Latin America

3.2.2.1.5.  MEA

3.2.3. Building automation industry landscape

3.2.3.1.  Building automation market size & forecast, 2013 – 2024

3.2.3.1.1.  North America

3.2.3.1.2.  Europe

3.2.3.1.3.  Asia Pacific

3.2.3.1.4.  Latin America

3.2.3.1.5.  MEA

3.3.  Industry ecosystem analysis

3.3.1. Component suppliers

3.3.2. Technology providers

3.3.3. Manufacturers

3.3.4. Distribution channel analysis

3.3.5. End-user landscape

3.3.6. Vendor matrix

3.4.  Technology and innovation landscape

3.4.1. Demand Control Ventilation (DCV).

3.4.2. Direct Digital Controls (DDC)

3.4.3. Variable Air Volume (VAV)

3.5.  Regulatory landscape

3.5.1. North America

3.5.2. Europe

3.5.3. Asia Pacific

3.5.4. Latin America

3.5.5. MEA

3.6.  Industry impact forces

3.6.1. Growth drivers

3.6.1.1.  Increasing product development and innovation initiatives by the manufacturers

3.6.1.2.  Growing demand for cloud computing in HVAC

3.6.1.3.  Growing need of energy efficiency in North America

3.6.1.4.  Growing adoption of building automation in the U.S.

3.6.1.5.  Stringent regulations pertaining to energy efficiency in Europe

3.6.1.6.  Wide adoption of IoT technology and smart homes in Germany

3.6.1.7.  Growing need to reduce operational costs and improve employee comfort in industrial sector in Asia Pacific

3.6.1.8.  Growing construction market to boom the adoption of HVAC controls in Asia Pacific and Latin America

3.6.2. Industry pitfalls & challenges

3.6.2.1.  High initial costs of products

3.6.2.2.  High risk pertaining to security flaws

3.6.2.3.  Growing complexity regarding upgrading the existing HVAC systems with smart controls

3.6.2.4.  Lack of awareness regarding energy efficiency

3.7.  Price trend analysis, 2013 – 2024

3.7.1. North America

3.7.1.1.  Commercial

3.7.1.2.  Residential

3.7.1.3.  Industrial

3.7.2. Europe

3.7.2.1.  Commercial

3.7.2.2.  Residential

3.7.2.3.  Industrial

3.7.3. Asia Pacific

3.7.3.1.  Commercial

3.7.3.2.  Residential

3.7.3.3.  Industrial

3.7.4. Latin America

3.7.4.1.  Commercial

3.7.4.2.  Residential

3.7.4.3.  Industrial

3.7.5. MEA

3.7.5.1.  Commercial

3.7.5.2.  Residential

3.7.5.3.  Industrial

3.8.  Growth potential analysis

3.9.  Porter's analysis

3.9.1. Supplier power

3.9.2. Buyer power

3.9.3. Threat of new entrants

3.9.4. Threat of substitutes

3.9.5. Internal rivalry

3.10.   Competitive landscape, 2017

3.10.1.  Company market share analysis

3.10.2.  Strategy dashboard

3.11.   PESTEL analysis

About Author

Rahul Varpe    

Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

Read More>>

More News By Rahul Varpe

E-Bike Market 2027: Emerging Technologies, Regional Growth Analysis, Competitive Landscape
E-Bike Market 2027: Emerging Technologies, Regional Growth Analysis, Competitive Landscape
By Rahul Varpe

Tentatively called ‘Global E-Bike Market Research Report’, the report having undertaken ...

Automotive Acoustic Materials Market: Regional Trends, Top Key Players and Growth Forecasts to 2027
Automotive Acoustic Materials Market: Regional Trends, Top Key Players and Growth Forecasts to 2027
By Rahul Varpe

The Automotive Acoustic Materials market is a detailed analysis of the market sphere and provides de...

Float Glass Market 2021 By Industry Trends, Top key players & Regional Forecast
Float Glass Market 2021 By Industry Trends, Top key players & Regional Forecast
By Rahul Varpe

The study titled ‘Global Float Glass Market Research Report’ includes a detailed researc...