Smart Thermostat Market Analysis By Technology (Wi-Fi, ZigBee, Others) And Segment Forecasts To 2022

  • ID: 3972878
  • Report
  • 85 pages
  • Grand View Research
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The global smart thermostat market is expected to reach USD 2.99 billion by 2022. These thermostats enable users to remotely control their air conditioning as well as heating systems through wireless connectivity and mobile apps. Smart thermostats form an integral part of smart homes and have gained high traction in developed regions such as Europe and North America. The industry is anticipated to witness a high adoption of these gadgets as they display the energy consumption level in real-time and are capable of adjusting to ambient conditions automatically. These devices can be connected to the internet and offer analytics and performance measurement tools through web-based portals. They are usually an integral part of the home automation ecosystem.

Energy utility retailers play a vital role in promoting the adoption of these devices in households. Many utilities offer these products as a part of their home energy management schemes. The involvement of energy retailers amplifies the potential for the smart thermostat industry growth. Additionally, the proliferation of mobile phones and their convergence with thermostats make these products much more attractive for the end-users.

The growing penetration of smartphones, rising per unit energy costs, the need for effective energy management solutions, and the favorable regulatory scenario are expected to propel the market growth over the coming years. The increased penetration of Near Field Communication (NFC) and ZigBee home automation devices is further expected to augment the demand. However, the high cost of devices and the associated data security concerns may restrain the growth prospects of this industry.

Further key findings from the study suggest:

The market primarily includes devices based on connectivity technologies such as Wi-Fi, ZigBee, and other technologies including NFC, Bluetooth, and Ethernet. ZigBee-enabled devices are expected to gain a significant share with the increasing consumers’ shift toward home automation devices.

North America and Europe, together, accounted for about 90% of the overall market share (in terms of revenue) in 2015 owing to the high demand for such devices in the region and favorable government mandates. The surge in the constructional activities and growing popularity of smart homes is expected to spur the demand.

Key players, including Honeywell International, Inc., Nest Labs, Inc. (Google), and Ecobee, together, accounted for over 40% of the overall market share (in terms of revenue) in 2015. OEMs have been focusing on the development of new products as well as upgrading the existing product portfolio. Strategic agreements and collaborations have been practiced for gaining competitive advantage.
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1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumption
1.3. List of Data Sources
2. Executive Summary
3. Market Snapshot
3.1. Smart Thermostat-Industry Snapshot and Key Buying Criteria, 2012 - 2022
4. Smart Thermostat Industry Outlook
4.1. Market Segmentation
4.2. Market Size and Growth Prospects
4.3. Smart Thermostat Value Chain Analysis
4.3.1. Vendor landscape
4.4. Smart Thermostat - Technology Evolution
4.5. Smart Thermostat Market Dynamics
4.5.1. Market driver analysis
4.5.2. Market restraint analysis
4.6. Industry Analysis - Porter's
4.7. Smart Thermostat -Key Competitor Analysis, 2015
4.7.1. Company strategy overview
4.8. Smart Thermostat Market PESTEL Analysis, 2015
5. Smart Thermostat Technology Outlook
5.1. Wi-Fi
5.1.1. Global market estimates and forecasts by region, 2012 - 2022 (USD Million)
5.2. ZigBee
5.2.1. Global market estimates and forecasts by region, 2012 - 2022 (USD Million)
5.3. Others
5.3.1. Global market estimates and forecasts by region, 2012 - 2022 (USD Million)
6. Smart Thermostat Regional Outlook
6.1. North America
6.1.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
6.1.2. U.S.
6.1.2.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
6.1.3. Canada
6.1.3.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
6.2. Europe
6.2.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
6.2.2. Germany
6.2.2.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
6.2.3. UK
6.2.3.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
6.3. Asia Pacific
6.3.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
6.3.2. China
6.3.2.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
6.3.3. Australia and New Zealand
6.3.3.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
6.3.4. Japan
6.3.4.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
6.4. Latin America
6.4.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
6.4.2. Brazil
6.4.2.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
6.5. MEA
6.5.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
7. Competitive Landscape
7.1. Allure Energy, Inc.
7.1.1. Company Overview
7.1.2. Revenue Analysis
7.1.3. Technology Benchmarking
7.1.4. Recent Developments
7.2. Climote Ltd.
7.2.1. Company Overview
7.2.2. Revenue Analysis
7.2.3. Technology Benchmarking
7.2.4. Recent Developments
7.3. Computime Group Ltd.
7.3.1. Company Overview
7.3.2. Revenue Analysis
7.3.3. Technology Benchmarking
7.3.4. Recent Developments
7.4. Google (Nest Labs)
7.4.1. Company Overview
7.4.2. Revenue Analysis
7.4.3. Technology Benchmarking
7.4.4. Recent Developments
7.5. GridPoint, Inc.
7.5.1. Company Overview
7.5.2. Revenue Analysis
7.5.3. Technology Benchmarking
7.5.4. Recent Developments
7.6. Honeywell International
7.6.1. Company Overview
7.6.2. Revenue Analysis
7.6.3. Technology Benchmarking
7.6.4. Recent Developments
7.7. Ingersoll Rand (Trane)
7.7.1. Company Overview
7.7.2. Revenue Analysis
7.7.3. Technology Benchmarking
7.7.4. Recent Developments
7.8. Radio Thermostat Company of America
7.8.1. Company Overview
7.8.2. Revenue Analysis
7.8.3. Technology Benchmarking
7.8.4. Recent Developments
7.9. Schneider Electric SE
7.9.1. Company Overview
7.9.2. Revenue Analysis
7.9.3. Technology Benchmarking
7.9.4. Recent Developments
7.10. Tado GmbH
7.10.1. Company Overview
7.10.2. Revenue Analysis
7.10.3. Technology Benchmarking
7.10.4. Recent Developments

List of Tables

Table 1 Smart thermostat-Industry snapshot and key buying criteria, 2012 - 2022
Table 2 Global smart thermostat market, 2012 - 2022 (USD Million)
Table 3 Global smart thermostat market by region, 2012 - 2022 (USD Million)
Table 4 Global smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 5 Vendor landscape
Table 6 Smart thermostat- Key market driver impact
Table 7 Smart thermostat- Key market challenge impact
Table 8 Key acquisitions
Table 9 Global Wi-Fi smart thermostat demand, 2012 - 2022
Table 10 Wi-Fi smart thermostat demand by region, 2012 - 2022 (USD Million)
Table 11 Global ZigBee smart thermostat demand, 2012 - 2022
Table 12 ZigBee smart thermostat demand by region, 2012 - 2022 (USD Million)
Table 13 Global other smart thermostat demand, 2012 - 2022
Table 14 Other smart thermostat demand by region, 2012 - 2022 (USD Million)
Table 15 North America smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 16 North America smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 17 U.S. smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 18 Canada smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 19 Europe smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 20 Europe smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 21 Germany smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 22 UK smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 23 Asia Pacific smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 24 Asia Pacific smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 25 China smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 26 Australia and New Zealand smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 27 Japan smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 28 Latin America smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 29 Latin America smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 30 Brazil smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 31 MEA smart thermostat market by technology, 2012 - 2022 (USD Million)
Table 32 MEA smart thermostat market by technology, 2012 - 2022 (USD Million)

List of Figures

Figure 1 Market segmentation & scope
Figure 2 Global smart thermostat market, 2012 - 2022 (USD Million)
Figure 3 Smart thermostat value chain analysis
Figure 4 Smart thermostat technology evolution
Figure 5 Smart thermostat market dynamics
Figure 6 U.S. annual average residential electricity price (cents per kilowatt hour)
Figure 7 Key opportunities prioritized
Figure 8 Smart thermostat- Porter’s analysis
Figure 9 Smart thermostat- Company market share analysis
Figure 10 Smart thermostat PESTEL analysis
Figure 11 Smart thermostat market share by technology, 2015 & 2022
Figure 12 Smart thermostat market share by region, 2015 & 2022
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