Technavio has published a new report on the smart home M2M market in the US, which is expected to post a CAGR of 38.02% from 2015-2019.
According to new information from the tech-focused research firm, the adoption of appliances like TVs, refrigerators, security cameras, dishwashers and microwave ovens is very high among consumers in the US and these appliances consume large amounts of energy to function efficiently.
“The US is the third largest country in the world in terms of population and consumes almost 30% of the world’s energy. Therefore, the demand for efficient energy solutions has increased significantly,” says Faisal Ghaus, Vice President of Technavio.
The new Technavio report also draws attention towards increased use of programmable thermostats that are used to automatically adjust the room temperature to a desired level. With the growing demand for programmable thermostats, the shipment of these devices is increasing rapidly in the US. The highest demand for these devices comes from energy and utilities retailers.
“Programmable thermostats and zone-based thermostats provide energy efficient solutions to overcome high energy costs,” says Ghaus.