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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
08-Aug-2019
Global
Market Research
ME5A-01-00-00-00
EN01146-GL-MR_23475
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?
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)
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