Albany, NY -- (SBWIRE) -- 04/05/2017 -- Sensors and controllers function as the intelligence units of heating, ventilation and air conditioning (HVAC) systems and these will continue to offer solutions for newer applications that are being put in place in educational, health care and several other infrastructure applications. The global HVAC sensors & controllers market has been segmented on the basis of sensors, controllers and application. In addition, a cross sectional analysis of the global market broadly across four geographic regions has been covered under the scope of the study.

A surge in the demand for HVAC sensors & controllers in the automotive industry coupled with the growth in the global non-residential construction business is strongly driving the growth of the global market. Furthermore, stringent government legislations and policies for energy efficient appliances are boosting the market growth. Strict government regulations across the globe are encouraging the reliance on renewable energy and development of "green buildings" and this is steadily fuelling the growth of the global market. This growing trend is bringing in many changes in the HVAC technology and key players in the market are involved in research and development activities to create energy efficient traditional systems as well as new systems which run off alternative energies such as solar or geothermal. The conjoint effect of all these drivers is set to augment the growth of the global HVAC sensors & controllers market from 2016 – 2024.

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Continuing evolution of the Internet of Things (IoT) is set to transform the HVAC industry during the forecast period and this is offering a prospective growth opportunity to the global HVAC sensors & controllers market. HVAC systems in commercial buildings are already connected through building automation systems (BAS) but IoT entails a shift to a more open connection and communication between all the systems and devices in a building. IoT would help to free vital elements such as sensors to communicate with everything and this would lead to sharing input-oriented things such as outdoor air sensors, solar radiation sensors and occupancy sensors, as examples. In addition, HVAC sensors & controllers market has great scope for growth in the developing markets of Asia Pacific, Latin America and Middle East. Asia Pacific offers the highest scope for the expansion of the construction industry owing to the economic growth, burgeoning population and increasing urbanization in countries such as China, Vietnam, Japan, Thailand, Philippines and Malaysia among others which is turn is set to boost the market of HVAC sensors & controllers in this region.

The competitive profiling of the major players in the global HVAC sensors & controllers market broadly across four geographic regions has been included in the study. The profiling includes different business strategies adopted by the leading players and their recent developments in the field of HVAC sensors & controllers. Market attractive analysis of the application areas of HVAC sensors & controllers has been provided in the report, in order to offer a deep insight of global market.

An exhaustive study of the market dynamics that includes market drivers, restraints and opportunities is included under the scope of the report. Market dynamics are the distinctive factors that impact the growth of the overall market, thus helping to recognize the ongoing trends of the market. Therefore, this report provides the forecast of the global market for the period from 2016 to 2024, along with offering an inclusive study of the HVAC sensors & controllers market.

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Some of the major players in the HVAC sensors & controllers market are: Honeywell International Inc. (U.S.), Emerson Electric (U.S.), Siemens AG (Germany), Schneider Electric (U.S.), Johnson Controls (U.S.), United Technologies Corporation (U.S.), Sensata Technologies Inc. (U.S.), Greystone Energy Systems Inc. (U.S.), Sensirion AG (Switzerland), Infineon Technologies AG (Germany) among others.