International.
The global advanced HVAC controls market is expected to reach close to $12.2 billion in revenue by 2020, according to the latest research study published by Technavio. The report provides an in-depth analysis of market growth in terms of revenue and new trends. It also includes an analysis of the various market segments.
The sensor control market was valued at US$3.29 billion in 2015. Sensors that measure temperature, humidity, occupancy, CO2 and volatile organic compounds (VOCs) are increasingly being used in advanced climate control systems.
Sensors create a means for consumers to interact with the HVAC system, and this is the fastest growing segment in the controls market.
Temperature detection and controls are the most important functions of sensors in advanced climate control systems. Therefore, many companies are investing heavily in R&D to develop and improve the functionality of the temperature sensor.
The device market was valued at $2.53 billion in 2015. The emergence of smart home technologies is playing a crucial role in driving the device segment. Consumers are increasingly adopting devices such as smart thermostats to harness their energy-saving potential and ensure comfort and convenience.
