Smart heating market set to rise a massive 40% in 2016

A new report on the UK smart heating market from MTW Research indicates that sales of IoT heating devices have grown by 3000% since 2010, with volumes set to rise by a massive 40% in 2016.
Led by smart heating controls, the report suggests that sales in the IoT (Internet of Things) heating market is offering healthy opportunities for manufacturers and distributors in 2016 boosted by product development and growing consumer demand. MTW point to ‘explosive growth’ for this sector in recent years, with demand rising for smart boilers, connected TRVs, smart controls and a host of heating related IoT devices and applications.
Discussing the findings, MTW’s director Mark Waddy noted: “We are seeing unprecedented growth for smart heating across a range of products in 2016. Every month we are seeing more manufacturers and distributors expanding their range and grabbing the opportunities that smart heating is offering.
“Our findings suggest that 50% of consumers are likely to install smart heating products in their homes in the next 5 years, highlighting a market with massive growth potential in the near term.”
The report also reviews the total UK IoT market, pointing to almost 900 million IoT devices in use in the UK in 2016.
The findings indicate that growth in connected devices is rising by 13% in 2016, reflecting a market which is outpacing the overall heating market by a factor of 4. MTW suggest that the heating market is set to slowly polarise into non-connected products in the lower value spectrum with smart heating devices boosting growth at the higher value end of the market.
The report also reviews the conventional heating market and notes that modest yet tangible growth is forecast for the more ‘traditional’ heating products market in the next few years.
The full report, which also includes 3 years financials for 40 key heating suppliers and an optional 11,000 merchants
mailing list is available to purchase from £595 from MTW Research’s website www.marketresearchreports.co.uk or by calling 08456 524324.