In today’s modern world of technology, people look to their smartphones for nearly everything, including banking, shopping, fitness tracking, home security and of course managing indoor comfort levels.
In fact, the global smart thermostat market is forecast to reach $2.99 billion by 2022, according to a study conducted by Grand View Research Inc. These thermostats enable users to remotely control their heating and air conditioning systems through wireless connectivity and mobile apps. The growing penetration of smartphones, rising per-unit energy costs, the need for effective energy management solutions and the favorable regulatory scenario are expected to propel market growth over the coming years, according to the report.