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Smart Thermostats Market - Global Industry Analysis

Smart Thermostats Market by Components (Display, Temperature Sensor, Humidity Sensor, Motion Sensor, and Others), by Network Technology (Wired Networking and Wireless Network), by Application (Residential, Commercial, Industrial and Other Applications): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024

Published Date: 17-Sep-2018 Category: Technology & Media Report Format : PDF Pages: 140 Report Code: ZMR-1301 Status : Published

Global smart thermostats market expected to reach USD 7,904.4 million by 2024, growing at a CAGR of around 29.5% between 2018 and 2024. Smart thermostats help users to change several thermostat settings from their smartphone and, in some cases, a computer and web browser or with user’s voice using a device such as the Amazon Echo.

Description

The report covers forecast and analysis for the smart thermostats market on a global and regional level. The study provides historical data from 2015 to 2017 along with a forecast from 2018 to 2024 based on revenue (USD Million). The study includes drivers and restraints for the smart thermostats market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the smart thermostats market on a global level.

The report gives a transparent view of the smart thermostats market. We have included a detailed competitive situation and portfolio of leading vendors that are operative in the smart thermostats market. To understand the competitive state in the smart thermostats market, an analysis of Porter’s Five Forces model for the smart thermostats market has also been covered. The study also offers a market attractiveness analysis, in which components, network technology, application, and regional segments are marked based on their growth rate, market size, and general attractiveness for smart thermostats market.

Global Smart Thermostats Market

The report provides company market share analysis in order to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, product and regional expansion of major participants involved in the market on a regional basis

The study provides a crucial view of the smart thermostats by segmenting the market based on components, network technology, application, and regions. All the application segments of the smart thermostats market have been analyzed based on present and the future trends and the market is estimated from 2018 to 2024.  Based on components, global smart thermostats market is fragmented into the display, motion sensor, humidity sensor, temperature sensor, and others. Based on network technology, the smart thermostat market is categorized into wired networking and wireless network. Application segment is classified into industrial, residential, commercial, and others. The regional segmentation comprises the current and forecast demand for the Middle East & Africa, North America, Europe, Latin America, and the Asia Pacific with its further bifurcation into major countries including the U.S., France, the UK, Germany, China, India, Japan, and Brazil.
 
The competitive profiling of key players of smart thermostats market includes a company overview and financial overview, business strategies adopted by them and their recent developments, a product offered by them which can help in assessing competition in the smart thermostats market. Key players included in the report are Schneider Electric, Ecobee, Inc., Tado GmbH, Nest Labs, Inc., Emerson Electric Co., Control4 Corporation, Ingersoll Rand Plc, Nortek, Inc., Honeywell International Inc., and Carrier Corporation, amongst others.

This report segments the global smart thermostats market as follows:

Global Smart Thermostats Market: Components Segment Analysis

  • Display
  • Temperature Sensor
  • Humidity Sensor
  • Motion Sensor
  • Others

Global Smart Thermostats Market: Network Technology Segment Analysis

  • Wired Networking
  • Wireless Network
    • Wi-Fi, 
    • ZigBee
    • Others

Global Smart Thermostats Market: Application Segment Analysis

  • Industrial
  • Residential
  • Commercial 
  • Others

Global Smart Thermostats Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description and Scope
    • 1.2. Research Scope
    • 1.3. Research Methodology
      • 1.3.1. Market Research Process
      • 1.3.2. Market Research Methodology
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global Smart Thermostats Market, 2017 - 2024, (USD Million)
    • 2.2. Smart Thermostats Market: Market Snapshot
  •  
  • Chapter 3. Global Smart Thermostats Market - Industry Analysis
    • 3.1. Smart Thermostats Market: Market Dynamics
    • 3.2. Market Drivers
      • 3.2.1. Increasing Awareness of Energy Management
      • 3.2.2. Growth of the Smart Home Market
    • 3.3. Restraints
      • 3.3.1. High Cost of Devices
    • 3.4. Opportunity
      • 3.4.1. Availability of Configurable and Reconfigurable Thermostats
    • 3.5. PESTLE Analysis
    • 3.6. Porter's Five Forces Analysis
    • 3.7. Market Attractiveness Analysis
      • 3.7.1. Market Attractiveness Analysis By Components Segment
      • 3.7.2. Market Attractiveness Analysis By Network Technology Segment
      • 3.7.3. Market Attractiveness Analysis By Application Segment
      • 3.7.4. Market Attractiveness Analysis By Regional Segment
  •  
  • Chapter 4. Global Smart Thermostats Market - Competitive Landscape
    • 4.1. Company Market Share Analysis, 2017
    • 4.2. Strategic Development
      • 4.2.1. Acquisitions and Mergers
      • 4.2.2. New Product Launch
      • 4.2.3. Agreements, Partnerships, Collaborations and Joint Ventures
      • 4.2.4. Research and Development, Product and Regional Expansion
    • 4.3. Product Portfolio
  •  
  • Chapter 5. Global Smart Thermostats Market - Components Segment Analysis
    • 5.1. Global Smart Thermostats Market Revenue Share, By Components, 2017 & 2024
    • 5.2. Global Smart Thermostats Market For Display, 2015 - 2024 (USD Million)
    • 5.3. Global Smart Thermostats Market For Temperature Sensor, 2015 - 2024 (USD Million)
    • 5.4. Global Smart Thermostats Market For Humidity Sensor, 2015 - 2024 (USD Million)
    • 5.5. Global Smart Thermostats Market For Motion Sensor, 2015 - 2024 (USD Million)
    • 5.6. Global Smart Thermostats Market For Others, 2015 - 2024 (USD Million)
  •  
  • Chapter 6. Global Smart Thermostats Market - Network Technology Segment Analysis
    • 6.1. Global Smart Thermostats Market Revenue Share, By Network Technology, 2017 & 2024
    • 6.2. Global Smart Thermostats Market For Wired Network, 2015 - 2024 (USD Million)
    • 6.3. Global Smart Thermostats Market For Wireless Network, 2015 - 2024 (USD Million)
  •  
  • Chapter 7. Global Smart Thermostats Market - Application Segment Analysis
    • 7.1. Global Smart Thermostats Market Revenue Share, By Application 2017 & 2024
    • 7.2. Global Smart Thermostats Market For Industrial, 2015 - 2024 (USD Million)
    • 7.3. Global Smart Thermostats Market For Residential, 2015 - 2024 (USD Million)
    • 7.4. Global Smart Thermostats Market For Commercial, 2015 - 2024 (USD Million)
    • 7.5. Global Smart Thermostats Market For Others, 2015 - 2024 (USD Million)
  •  
  • Chapter 8. Smart Thermostats Market - Regional Analysis
    • 8.1. Global Smart Thermostats Market: Regional Overview
      • 8.1.1. Global Smart Thermostats Market Revenue Share, By Region, 2017 and 2024
    • 8.2. North America
      • 8.2.1. North America Smart Thermostats Market Revenue, By Components, 2015 - 2024 (USD Million)
      • 8.2.2. North America Smart Thermostats Market Revenue, By Network Technology, 2015 - 2024 (USD Million)
      • 8.2.3. North America Smart Thermostats Market Revenue, By Application, 2015 - 2024 (USD Million)
      • 8.2.4. U.S.
        • 8.2.4.1. U.S. Smart Thermostats Market Revenue, By Components, 2015 - 2024 (USD Million)
        • 8.2.4.2. U.S. Smart Thermostats Market Revenue, By Network Technology, 2015 - 2024 (USD Million)
        • 8.2.4.3. U.S. Smart Thermostats Market Revenue, By Application, 2015 - 2024 (USD Million)
    • 8.3. Europe
      • 8.3.1. Europe Smart Thermostats Market Revenue, By Components, 2015 - 2024 (USD Million)
      • 8.3.2. Europe Smart Thermostats Market Revenue, By Network Technology, 2015 - 2024 (USD Million)
      • 8.3.3. Europe Smart Thermostats Market Revenue, By Application, 2015 - 2024 (USD Million)
      • 8.3.4. U.K.
        • 8.3.4.1. U.K. Smart Thermostats Market Revenue, By Components, 2015 - 2024 (USD Million)
        • 8.3.4.2. U.K. Smart Thermostats Market Revenue, By Network Technology, 2015 - 2024 (USD Million)
        • 8.3.4.3. U.K. Smart Thermostats Market Revenue, By Application, 2015 - 2024 (USD Million)
      • 8.3.5. France
        • 8.3.5.1. France Smart Thermostats Market Revenue, By Components, 2015 - 2024 (USD Million)
        • 8.3.5.2. France Smart Thermostats Market Revenue, By Network Technology, 2015 - 2024 (USD Million)
        • 8.3.5.3. France Smart Thermostats Market Revenue, By Application, 2015 - 2024 (USD Million)
      • 8.3.6. Germany
        • 8.3.6.1. Germany Smart Thermostats Market Revenue, By Components, 2015 - 2024 (USD Million)
        • 8.3.6.2. Germany Smart Thermostats Market Revenue, By Network Technology, 2015 - 2024 (USD Million)
        • 8.3.6.3. Germany Smart Thermostats Market Revenue, By Application, 2015 - 2024 (USD Million)
    • 8.4. Asia Pacific
      • 8.4.1. Asia-Pacific Smart Thermostats Market Revenue, By Components, 2015 - 2024 (USD Million)
      • 8.4.2. Asia-Pacific Smart Thermostats Market Revenue, By Network Technology, 2015 - 2024 (USD Million)
      • 8.4.3. Asia-Pacific Smart Thermostats Market Revenue, By Application, 2015 - 2024 (USD Million)
      • 8.4.4. China
        • 8.4.4.1. China Smart Thermostats Market Revenue, By Components, 2015 - 2024 (USD Million)
        • 8.4.4.2. China Smart Thermostats Market Revenue, By Network Technology, 2015 - 2024 (USD Million)
        • 8.4.4.3. China Smart Thermostats Market Revenue, By Application, 2015 - 2024 (USD Million)
      • 8.4.5. Japan
        • 8.4.5.1. Japan Smart Thermostats Market Revenue, By Components, 2015 - 2024 (USD Million)
        • 8.4.5.2. Japan Smart Thermostats Market Revenue, By Network Technology, 2015 - 2024 (USD Million)
        • 8.4.5.3. Japan Smart Thermostats Market Revenue, By Application, 2015 - 2024 (USD Million)
      • 8.4.6. India
        • 8.4.6.1. India Smart Thermostats Market Revenue, By Components, 2015 - 2024 (USD Million)
        • 8.4.6.2. India Smart Thermostats Market Revenue, By Network Technology, 2015 - 2024 (USD Million)
        • 8.4.6.3. India Smart Thermostats Market Revenue, By Application, 2015 - 2024 (USD Million)
    • 8.5. Latin America
      • 8.5.1. Latin America Smart Thermostats Market Revenue, By Components, 2015 - 2024 (USD Million)
      • 8.5.2. Latin America Smart Thermostats Market Revenue, By Network Technology, 2015 - 2024 (USD Million)
      • 8.5.3. Latin America Smart Thermostats Market Revenue, By Application, 2015 - 2024 (USD Million)
      • 8.5.4. Brazil
        • 8.5.4.1. Brazil Smart Thermostats Market Revenue, By Components, 2015 - 2024 (USD Million)
        • 8.5.4.2. Brazil Smart Thermostats Market Revenue, By Network Technology, 2015 - 2024 (USD Million)
        • 8.5.4.3. Brazil Smart Thermostats Market Revenue, By Application, 2015 - 2024 (USD Million)
    • 8.6. Middle East & Africa
      • 8.6.1. Middle East & Africa Smart Thermostats Market Revenue, By Components, 2015 - 2024 (USD Million)
      • 8.6.2. Middle East & Africa Smart Thermostats Market Revenue, By Network Technology, 2015 - 2024 (USD Million)
      • 8.6.3. Middle East & Africa Smart Thermostats Market Revenue, By Application, 2015 - 2024 (USD Million)
  •  
  • Chapter 9. Company Profiles
    • 9.1. Nest Labs, Inc.
      • 9.1.1. Overview
      • 9.1.2. Financials
      • 9.1.3. Type Portfolio
      • 9.1.4. Business Strategy
      • 9.1.5. Recent Developments
    • 9.2. Ecobee, Inc.
      • 9.2.1. Overview
      • 9.2.2. Financials
      • 9.2.3. Type Portfolio
      • 9.2.4. Business Strategy
      • 9.2.5. Recent Developments
    • 9.3. Tado Gmbh
      • 9.3.1. Overview
      • 9.3.2. Financials
      • 9.3.3. Type Portfolio
      • 9.3.4. Business Strategy
      • 9.3.5. Recent Developments
    • 9.4. Control4 Corporation
      • 9.4.1. Overview
      • 9.4.2. Financials
      • 9.4.3. Type Portfolio
      • 9.4.4. Business Strategy
      • 9.4.5. Recent Developments
    • 9.5. Ingersoll Rand PLC
      • 9.5.1. Overview
      • 9.5.2. Financials
      • 9.5.3. Type Portfolio
      • 9.5.4. Business Strategy
      • 9.5.5. Recent Developments
    • 9.6. Honeywell International Inc.
      • 9.6.1. Overview
      • 9.6.2. Financials
      • 9.6.3. Type Portfolio
      • 9.6.4. Business Strategy
      • 9.6.5. Recent Developments
    • 9.7. Carrier Corporation
      • 9.7.1. Overview
      • 9.7.2. Financials
      • 9.7.3. Type Portfolio
      • 9.7.4. Business Strategy
      • 9.7.5. Recent Developments
    • 9.8. Schneider Electric
      • 9.8.1. Overview
      • 9.8.2. Financials
      • 9.8.3. Type Portfolio
      • 9.8.4. Business Strategy
      • 9.8.5. Recent Developments
    • 9.9. Nortek, Inc
      • 9.9.1. Overview
      • 9.9.2. Financials
      • 9.9.3. Type Portfolio
      • 9.9.4. Business Strategy
      • 9.9.5. Recent Developments
    • 9.10. Emerson Electric Co.
      • 9.10.1. Overview
      • 9.10.2. Financials
      • 9.10.3. Type Portfolio
      • 9.10.4. Business Strategy
      • 9.10.5. Recent Developments

List of Figures 

1. Global Smart Thermostats Market Segmentation By Components, Network Technology, Application and Geography
2. Global Smart Thermostats Market, 2017 - 2024 (USD Million) 
3. Porter’s Five Forces Analysis: Smart Thermostats Market
4. Global Smart Thermostats Market Attractiveness, By Components, 
5. Global Smart Thermostats Market Attractiveness, By Network Technology,
6. Global Smart Thermostats Market Attractiveness, By Application,
7. Global Smart Thermostats Market Attractiveness, By Regional, 
8. Global Smart Thermostats Market Revenue Share, By Components, 2017 & 2024
9. Global Smart Thermostats Market For Display, 2015 – 2024 (USD Million)
10. Global Smart Thermostats Market For Temperature Sensor, 2015 – 2024 (USD Million) 
11. Global Smart Thermostats Market For Humidity Sensor, 2015 – 2024 (USD Million) 
12. Global Smart Thermostats Market For Motion Sensor, 2015 – 2024 (USD Million) 
13. Global Smart Thermostats Market For Others, 2015 – 2024 (USD Million) 
14. Global Smart Thermostats Market Revenue Share, By Network Technology, 2017 & 2024
15. Global Smart Thermostats Market For Wired Network, 2015 – 2024 (USD Million)
16. Global Smart Thermostats Market For Wireless Network, 2015 – 2024 (USD Million) 
17. Global Smart Thermostats Market Revenue Share, By Application 2017 & 2024
18. Global Smart Thermostats Market For Industrial, 2015 – 2024 (USD Million)
19. Global Smart Thermostats Market For Residential, 2015 – 2024 (USD Million) 
20. Global Smart Thermostats Market For Commercial, 2015 – 2024 (USD Million) 
21. Global Smart Thermostats Market For Others, 2015 – 2024 (USD Million)
22. Global Smart Thermostats Market Revenue Share, By Region, 2017 - 2024
23. North America Smart Thermostats Market, 2015 - 2024, (USD Million)
24. Europe Smart Thermostats Market, 2015 - 2024, (USD Million)
25. Asia Pacific Smart Thermostats Market, 2015 - 2024 (USD Million)
26. Latin America Smart Thermostats Market, 2015-2024 (USD Million
27. Middle East & Africa Smart Thermostats Market, 2015 – 2024,
(USD Million)


List of Tables

1. Global Smart Thermostats Market Snapshot
2. Drivers For Smart Thermostats Market: Impact Analysis
3. Restraints of Smart Thermostats Market: Impact Analysis
4. North America Smart Thermostats Market Revenue, By Components, 2015 – 2024 (USD Million)
5. North America Smart Thermostats Market Revenue, By Network Technology, 2015 – 2024 (USD Million)
6. North America Smart Thermostats Market Revenue, By Application, 2015 – 2024 (USD Million)
1. U.S. Smart Thermostats Market Revenue, By Components , 2015 – 2024 (USD Million) 
2. U.S. Smart Thermostats Market Revenue, By Network Technology, 2015 – 2024 (USD Million) 
3. U.S. Smart Thermostats Market Revenue, By Application, 2015 – 2024 (USD Million) 
4. Europe Smart Thermostats Market Revenue, By Components, 2015 – 2024 (USD Million)
5. Europe Smart Thermostats Market Revenue, By Network Technology, 2015 – 2024 (USD Million)
6. Europe Smart Thermostats Market Revenue, By Application, 2015 – 2024 (USD Million)
7. U.K. Smart Thermostats Market Revenue, By Components, 2015 – 2024 (USD Million) 
8. U.K. Smart Thermostats Market Revenue, By Network Technology , 2015 – 2024 (USD Million) 
9. U.K. Smart Thermostats Market Revenue, By Application, 2015 – 2024 (USD Million) 
10. France Smart Thermostats Market Revenue, By Components, 2015 – 2024 (USD Million) 
11. France Smart Thermostats Market Revenue, By Network Technology , 2015 – 2024 (USD Million) 
12. France Smart Thermostats Market Revenue, By Application, 2015 – 2024 (USD Million) 
13. Germany Smart Thermostats Market Revenue, By Components, 2015 – 2024 (USD Million) 
14. Germany Smart Thermostats Market Revenue, By Network Technology , 2015 – 2024 (USD Million) 
15. Germany Smart Thermostats Market Revenue, By Application, 2015 – 2024 (USD Million) 
16. Asia-Pacific Smart Thermostats Market Revenue, By Components, 2015 – 2024 (USD Million)
17. Asia-Pacific Smart Thermostats Market Revenue, By Network Technology, 2015 – 2024 (USD Million)
18. Asia-Pacific Smart Thermostats Market Revenue, By Application, 2015 – 2024 (USD Million)
19. China Smart Thermostats Market Revenue, By Components, 2015 – 2024 (USD Million) 
20. China Smart Thermostats Market Revenue, By Network Technology , 2015 – 2024 (USD Million) 
21. China Smart Thermostats Market Revenue, By Application, 2015 – 2024 (USD Million) 
22. Japan Smart Thermostats Market Revenue, By Components, 2015 – 2024 (USD Million) 
23. Japan Smart Thermostats Market Revenue, By Network Technology , 2015 – 2024 (USD Million) 
24. Japan Smart Thermostats Market Revenue, By Application, 2015 – 2024 (USD Million) 
25. India Smart Thermostats Market Revenue, By Components, 2015 – 2024 (USD Million) 
26. India Smart Thermostats Market Revenue, By Network Technology , 2015 – 2024 (USD Million) 
27. India Smart Thermostats Market Revenue, By Application, 2015 – 2024 (USD Million) 
28. Latin America Smart Thermostats Market Revenue, By Components, 2015 – 2024 (USD Million)
29. Latin America Smart Thermostats Market Revenue, By Network Technology, 2015 – 2024 (USD Million)
30. Latin America Smart Thermostats Market Revenue, By Application, 2015 – 2024 (USD Million)
31. Brazil Smart Thermostats Market Revenue, By Components, 2015 – 2024 (USD Million) 
32. Brazil Smart Thermostats Market Revenue, By Network Technology , 2015 – 2024 (USD Million) 
33. Brazil Smart Thermostats Market Revenue, By Application, 2015 – 2024 (USD Million) 
34. Middle East & Africa Smart Thermostats Market Revenue, By Components, 2015 – 2024 (USD Million)
35. Middle East & Africa Smart Thermostats Market Revenue, By Network Technology, 2015 – 2024 (USD Million)
36. Middle East & Africa Smart Thermostats Market Revenue, By Application, 2015 – 2024 (USD Million)

Methodology

Free Analysis

A smart thermostat helps its user to supervise temperature information and another status through the smartphone applications. Smart thermostat works with various devices to adjust and control the temperature of whole surroundings. The smart behavior of these thermostats is that they understand from the user’s behaviors, allow them in controlling the climate in remote homes, and allows to know the energy consumption in real-time and can adjust themselves based on climatic conditions like humidity. 

Global smart thermostats market is primarily driven by increasing awareness of energy management paired with advancements in technology. In addition, rising energy prices, the growth of the smart home market, need for remote access solutions to monitor and control the energy consumption are some of the key factors predicted to favor the market growth in the analysis period. Availability of well-positioned apps for operating different systems is expected to shape the growth of the smart thermostats market. On contrary, data security concerns associated with the use of smart thermostats and the high cost of devices is expected to limit the smart thermostats market growth. Nonetheless, the rise in the awareness regarding energy saving and power coupled with the availability of configurable and reconfigurable thermostats may disclose new avenues for the smart thermostats market in the years to come.

Global Smart Thermostats Market

Based on components, the global smart thermostats market is fragmented into the display, motion sensor, humidity sensor, temperature sensor, and others. On the basis of network technology, the smart thermostat market is categorized into wired networking and wireless network. A wireless network segment is further classified into Wi-Fi, ZigBee, and others. In 2017, wireless thermostat network technology held the largest market share. Application segment includes industrial, residential, commercial, and other applications. Residential segment is expected to be the most opportunist application segment in the coming years. 

North America emerged as a dominating region for the smart thermostats in 2017 closely followed by Europe. The entire market is presently dominated by the U.S. vendors with Honeywell and Nest emerging as the market leaders. High disposal income, significant penetration of smart home solutions, demand for managing energy consumption solutions, and high technology adoption rate are some of the key driving factors for North America smart thermostats market. Europe is estimated to be the fastest growing regional market for the smart thermostat. Rising disposable income in countries such as China and India is estimated to witness significant growth over the analysis period in the Asia Pacific region. The Middle East & Africa and Latin America are also anticipated to grow significantly in the coming years owing to rise in the demand from commercial applications.

Key operative players in the smart thermostats market are Nest Labs, Inc., Emerson Electric Co., Schneider Electric, Ecobee, Inc., Tado GmbH, Control4 Corporation, Ingersoll Rand Plc, Nortek, Inc., Honeywell International Inc., and Carrier Corporation, among others. 

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