Residential Underfloor Heating Actuator Market Trends

Growth Drivers

• Growing deployment of IoT in underfloor heating actuators - The Internet of Things (IoT) is observing significant growth in its adoption by various industries, owing to technological advancements and the growing need for instant insights regarding activities. It is predicted that the adoption of IoT by 2025 is set to increase to over 74 billion. The need to control the system remotely and monitor their underfloor heating systems is growing, leading to the growth of the residential underfloor heating actuator.
  
  Further, the IoT has made monitoring possible through various gadgets, including tablets, smartphones, and more. Owing to this favorable access to scheduling, temperature settings, and real-time energy usage monitoring. For instance, smart thermostats and sensors could be integrated to collect real-time humidity, temperature, and occupancy data.

• Surge in the trend of smart homes - Populations across the globe are extensively driving towards aesthetic home interiors, which is why their preference for smart homes is growing. Furthermore, conventional home automation systems offered a modest level of connectivity, in which consumers could only utilize operating systems. However, with the trend towards smart home technology, a whole new set of opportunities has been created, and one such opportunity includes energy sustainability.
  
  The growing need for human beings to perform day-to-day activities has caused a substantial increase in carbon emissions, resulting in global warming. As a result, the adoption of underfloor heating actuators is set to encourage the adoption of smart homes.

• Rising importance of renewable energy for underfloor heating actuators - With the growing awareness among people regarding the consequences of utilizing fossil fuels on the environment, their demand for renewable energy is growing.
  
  According to the United Nations Organization, the adoption of renewable energy could reduce about 90% of carbon emissions coming from electricity generation by 2050, further contributing to reducing the prevalence of climate change. Hence, the utilization of renewable energy in underfloor heating actuators is also set to rise.

Challenges

• High cost of installing residential underflow heating actuators - In contrast to conventional heating methods, the initial cost of installing an underfloor heating actuator is higher since it involves a complex installation process. Moreover, the requirement for specific components, including pipes, heating cables, insulation materials, and more, is high in underfloor heating actuator. Hence, this further makes the installation process more difficult.
  
  Additionally, the cost of maintaining an underfloor heating actuator is also high because specialized technicians are required to carry out the operation. As a result, the residential underfloor heating actuator market is set to hinder market growth over the coming years.

• Limited availability of varied sizes & shapes

• Growing risk of cyber-attack - With the integration of advanced technology such as IoT and AI the prevalence of cyber-attacks might boost since IoT devices need timely maintenance of software which might further also increase the cost of the product.