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Global Smart Thermostats Technology Innovation and Growth Opportunities
Global Smart Thermostats Technology Innovation and Growth Opportunities
New Product Development and Strategic Partnering to Push Seamless Interoperability with Smart Home Devices
14-Mar-2023
Global
Market Research
Description
Rising energy costs and growing environmental concerns are leading to an increase in the demand for energy-efficient solutions for buildings. Smart thermostats provide a convenient and effective way to reduce energy consumption and save money on heating and cooling bills. Consumer demand to automate and control home environments is making smart thermostats increasingly popular.
North America, followed by Europe, leads the smart thermostats market. Growth in the Asia-Pacific and the Middle East is expected to be concentrated in China, Japan, Australia, and the United Arab Emirates. The growing role of smart thermostats in demand-response programs, the rise in the adoption of smart home automation devices, and favorable government regulations and incentives are the key drivers for this market. Privacy concerns, the vulnerability of smart home devices to cyberattacks, and the lack of interoperability between different smart home systems are the current barriers to smart thermostat adoption.
This study focuses on the revenue manufacturers earn from selling thermostat products. It includes profiles of the key companies to watch and identifies the growth opportunities emerging from this space for market players and stakeholders to leverage. The base year for the study is 2022, and the forecast period is 2023 to 2028.
Author: Dennis Marcell Victor
Table of Contents
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Global Smart Thermostats Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Scope of Analysis
Market Highlights—Global Smart Thermostats Market
Internet and Broadband Adoption Driving Smart Devices Uptake
Smart Home Market Trends
Smart Home Ecosystem
Smart Home Ecosystem Explained
Home Ecosystems—Key Benefits
Evolution of Smart Home Ecosystems
Role of Technology Companies in the Smart Home Ecosystem
The Role of Smart Thermostats in Energy Efficiency of Buildings
Connected Devices Forecast
Trend Opportunity—Regional Exposure
Growth Metrics
Growth Drivers
Growth Restraints
Revenue Forecast
Unit Shipment and Pricing Forecast
Forecast Analysis
Revenue and Unit Shipment Forecast—North America
Revenue and Unit Shipment Forecast—Europe
Revenue and Unit Shipment Forecast—Asia-Pacific
Revenue and Unit Shipment Forecast—Rest of the World
Competitive Landscape
Competitive Analysis—Porter’s Five Forces
Smart Thermostat Partnerships 2020–2022
Product Launches—Smart Thermostats and Sensors
Companies to Watch—ecobee
Companies to Watch—Emerson
Companies to Watch—Google Nest
Companies to Watch—Resideo (Honeywell Home)
Companies to Watch—tado°
Growth Opportunity 1—Addressing the Energy Crisis
Growth Opportunity 1—Addressing the Energy Crisis (continued)
Growth Opportunity 2—Improving Smart Building User Experience
Growth Opportunity 2—Improving Smart Building User Experience (continued)
Growth Opportunity 3—Digitization and Decarbonization through DR Programs
Growth Opportunity 3—Digitization and Decarbonization through DR Programs (continued)
List of Exhibits
Legal Disclaimer
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| Deliverable Type | Market Research |
|---|---|
| Author | Dennis Marcell Victor |
| Industries | Environment |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Smart Thermostat Market Trend |
| Keyword 2 | Global Smart Thermostat Market |
| Keyword 3 | Thermostat Market Forecast |
| Podcast | No |
| WIP Number | PE2F-01-00-00-00 |