Smart HVAC Controls Market Share, Segmentation, Report 2024

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Smart HVAC Controls Market will be valued USD 25
billion by 2024 Global Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
Low Power Wide Area Network
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Overview of Smart HVAC Controls Market

• The North America HVAC control system market is
  will grow rapidly over the forecast time span due
  to the large-scale adoption of smart homes in
  this region. The growing demand for enhancing
  energy efficiency in the buildings is encouraging
  users to implement these systems in new buildings
  and retrofits. According to the U.S. Energy
  Information Administration (EIA), in 2015, about
  40 of the total energy consumption in the U.S.
  was by commercial and residential buildings.
• HVAC control system market will grow
  significantly over the forecast time span due to
  an increasing need to reduce energy consumption.
  Energy efficiency is one of the key concerns in
  every ecosystem, for both new construction and
  renovated buildings. These systems use
  technologies, such as Demand Control Ventilation
  (DCV) and Variable Air Volume (VAV), that can be
  extended with smart devices such as smart
  thermostats and monitoring tools. These systems
  allow the monitoring and analysis of the data
  pertaining to energy consumption and future
  energy requirements thereby fueling HVAC control
  system market.

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• The growing use of smartphones and the
  proliferation of IoT devices in households are
  driving the HVAC control system market growth.
  The integration of these systems with the
  smartphones allows remote access that enhances
  comfort and user experience, propelling the
  demand for these systems. Furthermore, the
  increasing use of sensors is allowing the
  software integration with these systems, making
  them more intelligent.
• Lack of awareness regarding these systems will
  restrain the HVAC control system market growth.
  The initial cost of installation is high,
  discouraging the users to implement these
  systems. However, governments of several
  countries are setting up guidelines to encourage
  users and spread awareness regarding long-term
  cost savings by the use of these systems.
• Technological advancements such as geothermal
  heating cooling in these systems is one of the
  key trends influencing the HVAC control system
  market. These systems are efficient eco-friendly
  HVAC solutions, as these reduce the carbon
  footprint substantially. These systems draw
  energy from the ground under the establishment
  and are durable low-maintenance. Zoning systems
  are being increasingly used in large
  establishments such as commercial buildings and
  industries. These units are particularly designed
  to cool the isolated units of a building.

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• Smart thermostats are expected to hold a
  considerable revenue share in the HVAC control
  system market as these can be used with home
  automation devices and are highly efficient. They
  can be used in a standalone mode by integrating
  it with other smart home devices. Companies
  including Ecobee, Honeywell, and Nest Labs are
  developing differentiated products that use
  technologies such as geofencing to enhance the
  performance. Manufacturers in the market are
  implementing the technology to enhance
  functionality of the products and improve user
  experience. For instance, the Emerson Sensi
  allows integration with smart devices such as
  Alexa Voice Assistant and Apple Home Kit.
• The industrial HVAC control system market is
  anticipated to grow significantly over the
  forecast time span owing to high requirements
  from industrial buildings to save energy and
  reduce costs. These systems intelligently match
  the energy generation requirements with usage
  distribution. The companies in industrially-develo
  ping countries including China, Japan, and India
  are focusing on providing a conducive work
  environment to enhance the efficiency of
  employees, propelling the demand for these
  systems.

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• Key vendors in the HVAC control system market
  comprise Honeywell International, Johnson
  Controls, Lennox, Ecobee, Siemens, Emerson
  Electric, Schneider Electric, and Distech
  Controls. The companies are increasingly
  investing in developing differentiated solutions
  to gain a competitive advantage. Companies
  including Nest Labs are connecting these devices
  to centralized servers with BI capabilities to
  enhance user experience. The technology providers
  such as Google are entering the industry to
  develop high-end products. For instance, Google
  has developed Google Nest and Google Nest E that
  offers app-based model and compatibility with
  smart home devices.

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• Germany smart HVAC controls market size, by
  application, 2017 2024 (USD Million)

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