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The number of homes in North America and Europe with a smart thermostat grew by 105 percent to 3.2 million in 2014, according to a new research report from Berg Insight. The North American market recorded 107 percent growth while the European market grew by 96 percent.

After only a handful of years in existence, the market for smart thermostats is now poised for growth, says Navigant Research. This market is being driven by the advent of a range of innovative devices and software that appeal to a variety of customer segments, particularly in North America and Europe.

Carrier has introduced a new smart thermostat that the company said fuses the convenience of smart device remote access with improved HVAC system efficiency. With a 3.5-inch, full-color touch screen, the Cor™ thermostat responds automatically via its built-in proximity sensor and welcomes users with an intuitive interface, said Carrier.

Considered to be the premier event in the HVACR industry, the AHR Expo is the place where contractors, engineers, and other building professionals meet to learn about new products.

The home automation and control market is expected to grow at a CAGR of 11.36 percent between 2014 and 2020.

The home automation and control market is forecast to grow at a compound annual growth rate (CAGR) of 11.36 percent between 2014 and 2020, and reach $12.81 billion by 2020, according to a new market research report published by MarketsandMarkets.

Ecovent, maker of wireless vents and sensors for home HVAC systems, announced that it will showcase its smart thermostat system at the 2015 International Consumer Electronics Show (CES) in Las Vegas.

The Versatile Simplicity SE controls feature a built-in LCD display and navigation joystick that provide quick access to menus that display unit status, options, and current functions; supply, return, and outdoor temperatures; fault codes; and other information. 

As technology advances and major players like Apple and Google step into this market, more consumers are going to start demanding products that can integrate and function in a smart home system. And as consumers start to expect more from their HVAC equipment, they’ll also expect more from their contractor.

After years of sputtering growth, the home energy management (HEM) market has begun to gather momentum, notes Navigant Research. Product vendors, utilities, service providers, retailers, and other stakeholders report increasing activity, and there are signs of growing awareness among consumers.