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Most of the times houses are kept at same temperature leading to consumption of higher energy. Smart Thermostats also popularly known as programmable communicating thermostats (PCTs) senses and gains information of the scheduled temperature, programs it and can be easily controlled from remote location via mobile phone. This is a energy savings technology and lowers energy costs up to 15 to 25%. Smart thermostats benefits the utility companies by monitoring energy consumptions, collect information, and save energy during a peak grid event at the same time maintaining the comfort levels. The development of innovative concepts such as Connected Homes is leading to high growth market for smart thermostats; this can be clearly indicated from the acquisition of Nest by Google. Although smart thermostats are considered as crucial enabler for connected homes but still integrated in lower number of household in U.S. currently, there exists huge opportunity for smart thermostats in U.S. market.
The report analyzes the market trends such as market drivers and restraining factors for “Smart Thermostats” market with the impact analysis of these factors over the forecast period. Competitive landscapes such as market share of the top players with their growth strategies in the market have been discussed in detail. The top players of the industry are profiled in detail with their recent developments and other strategic industry activities. It is estimated utilities be the major growth drivers for smart thermostats due to the increasing energy efficiency goals and mandates.