Global Smart HVAC Control Market: Snapshot
Smart heating, ventilation and air conditioning (HVAC) has come to occupy an integral part of smart buildings and facility management, especially in commercial spaces. The global smart HVAC control market offers an array of sensors and advanced control technologies that can detect the operational needs of buildings and adjust accordingly. The smart HVAC control market products are equally attractive for their use in residential buildings. Two of the key operational gains of deploying smart HVAC control are substantial energy savings and better facility management.
Smart HVAC control enables a range of stakeholders—including owners, facility managers, building managers, consumers, and maintenance staff—to obtain information on energy consumption in real time. Over the past few years, smart HVAC control has been achieved in several ways: by utilizing various sensors such as thermal-based, occupancy-based, and light-based controls.
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Global Smart HVAC Control Market: Notable Developments
The global smart HVAC control market has been witnessing robust drivers from the increasing integration of HVAC with internet of things (IoT). In this regard, adoption of ultra-low energy (ULE) technology in HVAC control platform for facilitating wireless sensors has proved to be crucial.
In a recent development, a wireless chipset solution by a U.S.-based VoIP company has been selected by a prominent provider of connected thermostat solutions for smart HVAC. DSP Group announced in April, 2019 that Network Thermostat will leverage the former’s ULE technology for smart HVAC control platforms. Equipping wireless remote sensing applications for its smart thermostat array of products, Network Thermostat will greatly enhance a range of wireless remote sensing applications, which notably include temperature, refrigeration, and humidity monitoring. This move will take the company closer to delivering cutting-edge IoT solutions in the global smart HVAC control market.
Over the past few years, a slew of products in the smart HVAC control market have been attracting consumers with advanced energy management system. Integration with modern sensors has rendered advanced functionalities in smart HVAC control. For instance, the use of 3-D sensor helps in better temperature controlling.
The competitive dynamics in the global smart HVAC control market will be increasingly influenced by players such as Ingersoll-Rand PLC, Daikin Industries Ltd., Schneider Electric, United Technologies, and Nest Labs
Global Smart HVAC Control Market: Key Growth Dynamics
Smart HVAC technology has lately generated considerable interest of stakeholders in the modernizing of workplaces, world over. The report on the global smart HVAC control market offers critical assessment of key growth trajectories by offering insights into the current investment pockets, technological advances, and emerging competitive landscape in key regions. Hence modernization of workplaces, coupled with the penetration of IoT, is a potential underpinning to the growth of the smart HVAC control market. In this regard, occupancy-based smart HVAC control has generated wide interest.
The market has been witnessing attractive demand from the increasing adoption of smart HVAC control technologies for smart home automation. The demand in this segment is bolstered by increased ease of integration and configuration of smart HVAC control in home automation. The smart home control market has benefitted especially from the increased adoption of smart thermostats equipped with wireless sensors in countries with cold climate.
Global Smart HVAC Control Market: Regional Assessment
The smart home HVAC control market is likely to witness sizeable revenues in Asia Pacific during 2018–2026. In part, this is attributed to the rising adoption of variable refrigerant flow technology in buildings, both renovated and new ones, in a number of its economies. Adoption of smart HVAC control for smart air conditioning in commercial and residential buildings in the region would generate substantial revenues in the regional market. Among other regions, Europe is expected to rise at prominent pace over the next few years, owing to stringent implementation of government mandates for energy efficiency in buildings in the region.