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(EstateNewsWire.com, August 10, 2018 ) U.S. Smart HVAC Controls Market share occupied majority of the revenue share due to improved building structure and advancement in technology. Europe may also witness significant growth as they aim to mandate energy efficient system by promoting policies such as tax credits combined with increased penetrations of techno based buildings.Asia Pacific smart HVAC controls market share is expected to witness considerable growth over forecast period due to increased demand of high quality energy efficient devices and constructions activities in countries like India, China, Korea and Japan.
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Smart HVAC Controls Market size was valued at around USD 8.5 billion in 2015 and may exceed USD 17 billion by 2024, growing at 10.7% CAGR from 2016 to 2024. Government initiatives and tax credit schemes will fuel growth.
These devices are considered to be decision makers, they monitor temperature & flow of air and set temperature according to the weather conditions. As a result, they provide considerable convenience and energy saving over pneumatic regulators. Improved energy efficiency, cost effectiveness and environment sustainability is expected to drive smart HAVC controls market size. Increased use pf internet protocol technology and construction activities will boost advanced technology implementation.
High quality contributions and increase comfort will contribute to smart HVAC controls market growth. Remote access regulator demand for room thermostats and adoptions of green building concepts will propel demand. Energy management initiatives through wireless network by using controllers and sensors and improved usage of Wi-Fi will improve the adoption rate in the coming years. Development of innovative vents, increased consumer inclination and innovation in sensors & controls may catalyze industry growth.
The industry is highly fragmented, and can be differentiated on the basis of coil, compressors and fans. Important players are United Technologies, Ingersoll-Rand PLC, Lennox Intl, Daikin Industries Ltd, Haier Group, LG electronics, Delta, Honeywell International, Lenox International, Siemens, Distech, KMC Keen Home, Hitachi Ltd, Schneider Electric and Johnson Controls.
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Keen Home focuses on reduction of technological complications by monitoring vent and developed new product named “Vent” to maximize efficiency and comfort in residential settings. New product ranges may propel revenue.
Nest Labs manufactured “Learning Thermostat” that are sensor driven, programmable, and Wi-Fi enabled that can be adjusted according to the heat & cooling requirement. Growing consumer inclination towards smart devices may force the players to innovate new devices in order to gain competitive advantage.
Global Market Insights, Inc.
Arun Hegde
1-888-689-0688
sales@gminsights.com
Source: EmailWire.Com 
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