Global Smart Thermostats Market, Forecast to 2025

Global Smart Thermostats Market, Forecast to 2025

Increasing Thermostat Capabilities will Enable the Integration of Smart Home Devices and Drive Growth Opportunities Across the Globe

RELEASE DATE
08-Aug-2019
REGION
Global
Research Code: ME5A-01-00-00-00
SKU: EN01146-GL-MR_23475

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Description

The proliferation of smart devices in residences across the globe has risen over the last two years. Smart thermostat is one such device that has seen traction, especially in regions like North America and Europe. Once considered as expensive devices with complicated controls, smart thermostats have become consumer friendly and light on the pocket due to the various rebates offered to attain energy efficiency.

The market is split into 4 key regions: North America, Europe, Asia-Pacific, and rest of the world, which comprises the Middle East, Africa, Latin America, and Commonwealth of Independent States. By areas of use, the market is focused on the residential segment. The study also looks into the market split by type: learning and connected thermostats.

The smart thermostats market is estimated to be $1.63 billion in 2018 and is expected to grow at a compound annual growth rate of 16.7% from 2018 to 2025. North America leads the current market for smart thermostats, followed by Europe. However, future growth of North America will be comparatively lower than that of Europe. Sales in Asia-Pacific and the Middle East will be concentrated in select countries like China, Japan, and the United Arab Emirates. The increasing role of smart thermostats for demand response, increase in the adoption of smart home automation devices, and wider adoption beyond the residential segment are the key drivers for this market. The lack of awareness on the benefits of smart thermostats and high cost of products in developing countries are the barriers to early adoption. In developed markets, cybersecurity and compatibility issues with legacy systems are the reasons for lower penetration.

The smart thermostats market is led by Nest Labs, a Google company, followed by Honeywell and ecobee. Building automation companies like Emerson, Siemens, Schneider, Johnson controls, and energy management companies like tado, Netatmo, and Zen Thermostats complete the list of major participants in the smart thermostats market.

Key Companies:
• Nest Labs
• ecobee
• Honeywell
• Hive
• Emerson
• Tado
• Netatmo
• eQ-3
• Johnson Controls
• Lux

Key Issues Addressed

  • How has the global smart thermostat market performed so far and how will it perform during the forecast period?
  • What are the key driving factors and challenges in the global smart thermostat market and what are their impacts?
  • What are the current technologies prevalent in the smart thermostats market and will there be any technology transition that will happen over the next 5 years?
  • What are the price trends in the smart thermostat market?
  • What is the degree of competition in the global smart thermostat market? How does it differ by region?
  • What are the growth opportunities and critical success factors for participants to survive and compete in this market?

Table of Contents

Key Findings

Market Engineering Measurements

Market Engineering Measurements (continued)

CEO’s Perspective

Market Definitions

Connected Living—Market Size

Smart Thermostats—Timeline

Product Integration Ecosystem for Smart Thermostats

Connected Thermostat Data Flow for Existing and Future Use Cases

Key Questions this Study will Answer

Market Segmentation by Region

Market Distribution Channels

Market Drivers

Drivers Explained

Drivers Explained (continued)

Market Restraints

Restraints Explained

Restraints Explained (continued)

Market Engineering Measurements

Market Engineering Measurements (continued)

Unit Shipment and Revenue Forecast

Pricing Trends and Forecast

Unit Shipment, Revenue, and Pricing Forecast Discussion

Per Cent Revenue Forecast by Region

Revenue Forecast by Region

Revenue Forecast Discussion by Region

Global Adoption of Smart Thermostats in 2018

Global Hot Spots for Smart Thermostats (2019–2025)

Market Share

Market Share Analysis

Competitive Environment

Competitive Analysis—Porter’s Five Forces

Smart HVAC Landscape and Ecosystem

Overview of Key Products—Smart Thermostat Market

Company Profile—Nest Labs, a Google Company

Company Profile—ecobee

Company Profile—Honeywell Home

Company Profile—Centrica Hive Ltd.

Company Profile—Emerson

Growth Opportunity 1—Building and Appliance Diagnostics

Growth Opportunity 2—Real-time Monitoring of Energy Efficiency Upgrades

Growth Opportunity 3—Integrated Platforms for Efficient Energy Management

Strategic Imperatives for Success and Growth

North America Key Findings

Unit Shipment and Revenue Forecast

Unit Shipment and Revenue Forecast Discussion

Market Share Analysis

US—Competitive Environment

Canada—Competitive Environment

Europe Key Findings

Unit Shipment and Revenue Forecast

Unit Shipment and Revenue Forecast Discussion

Market Share Analysis

Market Share Analysis (continued)

Analysis of Selected Countries—UK

Analysis of Selected Countries—Germany

Analysis of Selected Countries—France

Asia-Pacific Key Findings

Revenue Forecast

Unit Shipment and Revenue Forecast Discussion

Market Share Analysis

Analysis of Selected Countries in Asia-Pacific

Rest-of-the-World Key Findings

Revenue Forecast

Unit Shipment and Revenue Forecast Discussion

Market Share Analysis

Analysis of Selected Countries in Rest-of-the-World

3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

Additional Sources of Information

List of Companies in “Others”

Abbreviations and Acronyms Used

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

Related Research
The proliferation of smart devices in residences across the globe has risen over the last two years. Smart thermostat is one such device that has seen traction, especially in regions like North America and Europe. Once considered as expensive devices with complicated controls, smart thermostats have become consumer friendly and light on the pocket due to the various rebates offered to attain energy efficiency. The market is split into 4 key regions: North America, Europe, Asia-Pacific, and rest of the world, which comprises the Middle East, Africa, Latin America, and Commonwealth of Independent States. By areas of use, the market is focused on the residential segment. The study also looks into the market split by type: learning and connected thermostats. The smart thermostats market is estimated to be $1.63 billion in 2018 and is expected to grow at a compound annual growth rate of 16.7% from 2018 to 2025. North America leads the current market for smart thermostats, followed by Europe. However, future growth of North America will be comparatively lower than that of Europe. Sales in Asia-Pacific and the Middle East will be concentrated in select countries like China, Japan, and the United Arab Emirates. The increasing role of smart thermostats for demand response, increase in the adoption of smart home automation devices, and wider adoption beyond the residential segment are the key drivers for this market. The lack of awareness on the benefits of smart thermostats and high cost of products in developing countries are the barriers to early adoption. In developed markets, cybersecurity and compatibility issues with legacy systems are the reasons for lower penetration. The smart thermostats market is led by Nest Labs, a Google company, followed by Honeywell and ecobee. Building automation companies like Emerson, Siemens, Schneider, Johnson controls, and energy management companies like tado, Netatmo, and Zen Thermostats complete the list of major participants in the smart thermostats market. Key Companies: • Nest Labs • ecobee • Honeywell • Hive • Emerson • Tado • Netatmo • eQ-3 • Johnson Controls • Lux--BEGIN PROMO--

Key Issues Addressed

  • How has the global smart thermostat market performed so far and how will it perform during the forecast period?
  • What are the key driving factors and challenges in the global smart thermostat market and what are their impacts?
  • What are the current technologies prevalent in the smart thermostats market and will there be any technology transition that will happen over the next 5 years?
  • What are the price trends in the smart thermostat market?
  • What is the degree of competition in the global smart thermostat market? How does it differ by region?
  • What are the growth opportunities and critical success factors for participants to survive and compete in this market?
More Information
No Index No
Podcast No
Author Dennis Marcell Victor
Industries Environment
WIP Number ME5A-01-00-00-00
Is Prebook No
GPS Codes 9343-A4,9B07-C1,GETE