The global smart thermostat market reached a value of US$ 1.1 Billion in 2017. A smart thermostat is a part of a control system which senses and maintains the temperature of an area. It is an automatic device which is capable of remotely switching on and off the heating of a room through the internet. Smart thermostats can be programmed and used via various mobile devices such as remote controls, smartphones and computers. They can also display the amount of heating being used and control their activity by tracking or learning the daily routine of the user.
Over the years, there has been a significant rise in the installation of smart home systems and technologies in households. This is one of the primary factors driving the growth of the global smart thermostat market. Moreover, there has been a surge in the sales of various smart home voice assistants such as Amazon Echo and Google Home which is further driving the growth of the market. In addition, as smart thermostats help in saving electricity, their sales have been influenced by the augmented demand for energy efficient solutions. This represents another factor which is positively influencing the market growth. Looking forward, the market is projected to reach a value of US$ 3.4 Billion by 2023, registering a CAGR of 20% during 2018-2023.
Based on the product, the market has been segmented into standalone smart thermostats, connected smart thermostats and learning smart thermostats.
On the basis of component, the global smart thermostat market has been segregated into display, temperature sensor, humidity sensor, motion sensor and others.
Based on technology, the market has been segmented into wired and wireless smart thermostats. Further, the wireless smart thermostat market has been segregated into WiFi, Zig Bee and others.
Based on application, the market has been segmented into residential, commercial and industrial.
Region-wise, the global smart thermostat market has been segregated into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Among these, North America represents the biggest market for smart thermostats.
The competitive landscape of the market has also been examined with some of the key players being Nest Labs, Inc., Honeywell International Inc., Ecobee, Inc., Emerson Electric Co., Schneider Electric SE, Tado GmbH, Control4 Corporation, Carrier Corporation and Nortek, Inc.
This report provides a deep insight into the global smart thermostat market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the smart thermostat market in any manner.
Key Questions Answered in This Report:
How has the global smart thermostat market performed so far and how will it perform in the coming years? What are the key regions in the global smart thermostat market? What are the major application segments in the global smart thermostat market? What are the different technologies of smart thermostat? What are the major components in the global smart thermostat market? Which are the popular products in the global smart thermostat market? What are the price trends of smart thermostat? What are the various stages in the value chain of the global smart thermostat market? What are the key driving factors and challenges in the global smart thermostat market? What is the structure of the global smart thermostat market and who are the key players? What is the degree of competition in the global smart thermostat market? How is smart thermostat manufactured?
Key Topics Covered:
2 Scope and Methodology 2.1 Objectives of the Study 2.2 Stakeholders 2.3 Data Sources 2.3.1 Primary Sources 2.3.2 Secondary Sources 2.4 Market Estimation 2.4.1 Bottom-Up Approach 2.4.2 Top-Down Approach 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction 4.1 Overview 4.2 Key Industry Trends
5 Global Smart Thermostat Market 5.1 Market Overview 5.2 Market Performance 5.3 Price Analysis 5.3.1 Price Indicators 5.3.2 Price Structure 5.3.3 Margin Analysis 5.4 Market Breakup by Product 5.5 Market Breakup by Component 5.6 Market Breakup by Technology 5.7 Market Breakup by Application 5.8 Market Breakup by Region 5.9 Market Forecast 5.10 SWOT Analysis 5.10.1 Overview 5.10.2 Strengths 5.10.3 Weaknesses 5.10.4 Opportunities 5.10.5 Threats 5.11 Value Chain Analysis 5.11.1 Overview 5.11.2 Research and Development 5.11.3 Raw Material Procurement 5.11.4 Manufacturing 5.11.5 Marketing 5.11.6 Distribution 5.11.7 End-Use 5.12 Porters Five Forces Analysis 5.12.1 Overview 5.12.2 Bargaining Power of Buyers 5.12.3 Bargaining Power of Suppliers 5.12.4 Degree of Competition 5.12.5 Threat of New Entrants 5.12.6 Threat of Substitutes
10 Market Breakup by Region 10.1 North America 10.2 Europe 10.3 Asia Pacific 10.4 Middle East and Africa 10.5 Latin America
11 Smart Thermostat Manufacturing Process 11.1 Product Overview 11.2 Raw Material Requirements 11.3 Manufacturing Process 11.4 Key Success and Risk Factors
12 Competitive Landscape 12.1 Market Structure 12.2 Key Players 12.3 Profiles of Key Players 12.3.1 Nest Labs, Inc. 12.3.2 Honeywell International Inc. 12.3.3 Ecobee, Inc. 12.3.4 Emerson Electric Co. 12.3.5 Schneider Electric SE 12.3.6 Tado GmbH 12.3.7 Control4 Corporation 12.3.8 Carrier Corporation 12.3.9 Nortek, Inc.
About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Did you know that we also offer Custom Research? Visit our Custom Research page to learn more and schedule a meeting with our Custom Research Manager.