HVAC Controls Market to Observer Increase in Profits by 2030
The global Heating, Ventilation, and Air Conditioning (HVAC) controls market size was USD 16.74 Billion in 2021 and is expected to register a revenue CAGR of 9.5% during the forecast period, according to latest analysis by Emergen Research. Industrial transformation and incorporation of Internet of Things (IoT)-enabled devices in HVAC systems have significantly increased application of HVAC system in industrial and commercial facilities, which is a major factor driving market revenue growth. Primary benefit of incorporating IoT components, such as sensors and others into HVAC systems is that, operators can easily operate them from remote locations. In addition, it aids in providing customer-centric services, which thereby increases profitability and customer retention. Another major advantage of incorporating IoT-enabled devices in HVAC system is minimum energy consumption. IoT-enabled devices also aid in providing real-time data when connected to a computer system, which enables indu