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Smart Thermostat Market by Type, Application and End Use: Global Opportunity Analysis and Industry Forecast, 2019-2026

  • ID: 4990090
  • Report
  • December 2019
  • Region: Global
  • 298 pages
  • Allied Analytics LLP
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until May 30th 2020
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FEATURED COMPANIES

  • Ecobee
  • Emerson Electric Co.
  • Johnson Controls
  • Nest Labs
  • Netatmo
  • Schneider Electric
  • MORE
The global smart thermostat market is expected to generate revenue worth $1.36 billion in 2019, and is projected to reach $8.78 billion by 2026, to register a CAGR of 26.0% during the forecast period. Smart thermostat is the new kit of advanced technology that connects heating systems to the internet. This provides users the access to switch heating systems through the internet connected devices. These devices can be installed easily in smart infrastructure. In addition, smart thermostat is integrated with sensors and smart-net technology such as WiFi that provides remote access to the internet connected devices. Smart thermostat is used in smart infrastructure to control smart appliances such as window ACs, Split ACs, Portables ACs, heaters, radiators, boilers, and other such appliances.

Smart thermostats are installed with remote access software and programmed with artificial intelligence. This enables smart thermostats to be programmed for future schedule of temperature controls as per user preferences or operate in a self-learning mode by the data its software collects over the period.

The factors such as rapid adoption of smart infrastructure in residential and commercial infrastructure, penetration of IoT and AI based technologies, and increased use of smart technology in medical monitoring drive the global market for smart thermostats. However, high cost of products in developing countries are the barriers to early adoption of these devices. Further, increasing advancement and adoption of automated systems in residential, commercial, and industrial sectors are expected to provide lucrative opportunities for the smart thermostat market during the forecast period.

The market is segmented on the basis of technology, application, end use, and region. By technology, it is categorized into WiFi, Infrared, Bluetooth, and others. By application, it is classified into split AC, window AC, portable AC, and others. The end use segment is divided into residential, commercial, industrial, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players operating in the global Smart Thermostat Market are Emerson Electric Co., Ecobee, HoneywelL International Inc., Johnson Controls, Nest Labs, Netatmo, Schneider Electric, Siemens AG, Tado and Zen Thermostat. The market leader adapt various strategy such as product launch, product development, collaboration, merger, acquisition, partnership and such other to make an edge over the competitors, as a consequence it results in market growth.

KEY BENEFITS FOR STAKEHOLDERS
  • This study includes the analytical depiction of the global smart thermostat market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information regarding the key drivers, restraints, and opportunities.
  • The current market is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
GLOBAL SMART THERMOSTAT MARKET SEGMENTATION

By Type
  • WiFi
  • Infrared
  • Bluetooth
  • Others
By Application
  • Split AC
  • Window AC
  • Portable AC
  • Others
By End Use
  • Residential
  • Commercial
  • Industrial
  • others
By Region
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • UK
  • Germany
  • France
  • Russia
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Ecobee
  • Emerson Electric Co.
  • Johnson Controls
  • Nest Labs
  • Netatmo
  • Schneider Electric
  • MORE
Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits For Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools And Models

Chapter 2: Executive Summary
2.1. Key Findings
2.1.1. Top Impacting Factors
2.1.2. Top Investment Pockets
2.2. CXO Perspective

Chapter 3: Market Overview
3.1. Market Definition And Scope
3.2. Key Forces Shaping Smart Thermostat Market
3.2.1. Moderate Bargaining Power of Suppliers
3.2.2. High Threat of New Entrants
3.2.3. Moderate Threat of Substitutes
3.2.4. Moderate Intensity of Rivalry
3.2.5. Moderate Bargaining Power of Buyers
3.3. Market Dynamics
3.3.1. Drivers
3.3.1.1. Rapid Adoption of Smart Infrastructure In Residential And Commercial
3.3.1.2. The Penetration of IoT And Ai Based Technologies
3.3.1.3. Increased Use of Smart Technology In Medical Monitoring
3.3.2. Restraints
3.3.2.1. High Cost of Products In Developing Countries Are The Barriers To Early Adoption
3.3.3. Opportunities
3.3.3.1. The Increasing Advancement And Adoption of Automated Systems

Chapter 4: Smart Thermostat Market, By Technology
4.1. Overview
4.2. Wifi
4.2.1. Key Market Trends, Growth Factors And Opportunities
4.2.2. Market Size And Forecast, By Region
4.2.3. Market Analysis By Country
4.3. Infrared
4.3.1. Key Market Trends, Growth Factors, And Opportunities
4.3.2. Market Size And Forecast, By Region
4.3.3. Market Analysis By Country
4.4. Bluetooth
4.4.1. Key Market Trends, Growth Factors, And Opportunities
4.4.2. Market Size And Forecast, By Region
4.4.3. Market Analysis By Country
4.5. Others
4.5.1. Key Market Trends, Growth Factors, And Opportunities
4.5.2. Market Size And Forecast, By Region
4.5.3. Market Analysis By Country

Chapter 5: Smart Thermostat Market, By Application
5.1. Overview
5.2. Split Ac
5.2.1. Key Market Trends, Growth Factors And Opportunities
5.2.2. Market Size And Forecast, By Region
5.2.3. Market Analysis By Country
5.3. Window Ac
5.3.1. Key Market Trends, Growth Factors And Opportunities
5.3.2. Market Size And Forecast, By Region
5.3.3. Market Analysis By Country
5.4. Portable Ac
5.4.1. Key Market Trends, Growth Factors And Opportunities
5.4.2. Market Size And Forecast, By Region
5.4.3. Market Analysis By Country
5.5. Other
5.5.1. Key Market Trends, Growth Factors And Opportunities
5.5.2. Market Size And Forecast, By Region
5.5.3. Market Analysis By Country

Chapter 6: Smart Thermostat Market, By End Use
6.1. Overview
6.2. Residential
6.2.1. Key Market Trends, Growth Factors And Opportunities
6.2.2. Market Size And Forecast, By Region
6.2.3. Market Analysis By Country
6.3. Commercial
6.3.1. Key Market Trends, Growth Factors And Opportunities
6.3.2. Market Size And Forecast, By Region
6.3.3. Market Analysis By Country
6.4. Industrial
6.4.1. Key Market Trends, Growth Factors And Opportunities
6.4.2. Market Size And Forecast, By Region
6.4.3. Market Analysis By Country
6.5. Other
6.5.1. Key Market Trends, Growth Factors And Opportunities
6.5.2. Market Size And Forecast, By Region
6.5.3. Market Analysis By Country

Chapter 7: Smart Thermostat Market, By Region
7.1. Overview
7.2. North America
7.2.1. Key Market Trends, Growth Factors And Opportunities
7.2.2. Market Size And Forecast, By Technology
7.2.3. Market Size And Forecast, By Application
7.2.4. Market Size And Forecast, By End Use
7.2.5. Market Analysis By Country
7.2.5.1. U.S.
7.2.5.1.1. Market Size And Forecast, By Technology
7.2.5.1.2. Market Size And Forecast, By Application
7.2.5.1.3. Market Size And Forecast, By End Use
7.2.5.2. Canada
7.2.5.2.1. Market Size And Forecast, By Technology
7.2.5.2.2. Market Size And Forecast, By Application
7.2.5.2.3. Market Size And Forecast, By End Use
7.2.5.3. Mexico
7.2.5.3.1. Market Size And Forecast, By Technology
7.2.5.3.2. Market Size And Forecast, By Application
7.2.5.3.3. Market Size And Forecast, By End Use
7.3. Europe
7.3.1. Key Market Trends, Growth Factors And Opportunities
7.3.2. Market Size And Forecast, By Technology
7.3.3. Market Size And Forecast, By Application
7.3.4. Market Size And Forecast, By End Use
7.3.5. Market Analysis By Country
7.3.5.1. UK
7.3.5.1.1. Market Size And Forecast, By Technology
7.3.5.1.2. Market Size And Forecast, By Application
7.3.5.1.3. Market Size And Forecast, By End Use
7.3.5.2. Germany
7.3.5.2.1. Market Size And Forecast, By Technology
7.3.5.2.2. Market Size And Forecast, By Application
7.3.5.2.3. Market Size And Forecast, By End Use
7.3.5.3. France
7.3.5.3.1. Market Size And Forecast, By Technology
7.3.5.3.2. Market Size And Forecast, By Application
7.3.5.3.3. Market Size And Forecast, By End Use
7.3.5.4. Russia
7.3.5.4.1. Market Size And Forecast, By Technology
7.3.5.4.2. Market Size And Forecast, By Application
7.3.5.4.3. Market Size And Forecast, By End Use
7.3.5.5. Rest of Europe
7.3.5.5.1. Market Size And Forecast, By Technology
7.3.5.5.2. Market Size And Forecast, By Application
7.3.5.5.3. Market Size And Forecast, By End Use
7.4. Asia-Pacific
7.4.1. Key Market Trends, Growth Factors And Opportunities
7.4.2. Market Size And Forecast, By Technology
7.4.3. Market Size And Forecast, By Application
7.4.4. Market Size And Forecast, By End Use
7.4.5. Market Analysis By Country
7.4.5.1. China
7.4.5.1.1. Market Size And Forecast, By Technology
7.4.5.1.2. Market Size And Forecast, By Application
7.4.5.1.3. Market Size And Forecast, By End Use
7.4.5.2. Japan
7.4.5.2.1. Market Size And Forecast, By Technology
7.4.5.2.2. Market Size And Forecast, By Application
7.4.5.2.3. Market Size And Forecast, By End Use
7.4.5.3. India
7.4.5.3.1. Market Size And Forecast, By Technology
7.4.5.3.2. Market Size And Forecast, By Application
7.4.5.3.3. Market Size And Forecast, By End Use
7.4.5.4. Australia
7.4.5.4.1. Market Size And Forecast, By Technology
7.4.5.4.2. Market Size And Forecast, By Application
7.4.5.4.3. Market Size And Forecast, By End Use
7.4.5.5. Rest of Asia-Pacific
7.4.5.5.2. Market Size And Forecast, By Technology
7.4.5.5.3. Market Size And Forecast, By Application
7.4.5.5.4. Market Size And Forecast, By End Use
7.5. LAMEA
7.5.1. Key Market Trends, Growth Factors And Opportunities
7.5.2. Market Size And Forecast, By Technology
7.5.3. Market Size And Forecast, By Application
7.5.4. Market Size And Forecast, By End Use
7.5.5. Market Analysis By Country
7.5.5.1. Latin America
7.5.5.1.1. Market Size And Forecast, By Technology
7.5.5.1.2. Market Size And Forecast, By Application
7.5.5.1.3. Market Size And Forecast, By End Use
7.5.5.2. Middle East
7.5.5.2.1. Market Size And Forecast, By Technology
7.5.5.2.2. Market Size And Forecast, By Application
7.5.5.2.3. Market Size And Forecast, By End Use
7.5.5.3. Africa
7.5.5.3.1. Market Size And Forecast, By Technology
7.5.5.3.2. Market Size And Forecast, By Application
7.5.5.3.3. Market Size And Forecast, By End Use

Chapter 8: Competitive Landscape
8.1. Introduction
8.2. Top Winning Strategies
8.2.1. Top Winning Strategies, By Year
8.2.2. Top Winning Strategies, By Development
8.2.3. Top Winning Strategies, By Company
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key Developments
8.6.1. New Product Launches& Development
8.6.2. Other Developments

Chapter 9: Company Profiles: Smart Thermostat
9.1. Emerson Electric Co.
9.1.1. Company Overview
9.1.2. Company Snapshot
9.1.3. Operating Business Segments
9.1.4. Product Portfolio
9.1.5. R&D Expenditure
9.1.6. Business Performance
9.1.7. Key Strategic Moves And Developments
9.2. Ecobee
9.2.1. Company Overview
9.2.2. Company Snapshot
9.2.3. Product Portfolio
9.2.4. Key Strategic Moves And Developments
9.3. Honeywell International Inc.
9.3.1. Company Overview
9.3.2. Company Snapshot
9.3.3. Operating Business Segments
9.3.4. Product Portfolio
9.3.5. Business Performance
9.3.6. Key Strategic Moves And Developments
9.4. Johnson Controls
9.4.1. Company Overview
9.4.2. Company Snapshot
9.4.3. Operating Business Segments
9.4.4. Product Portfolio
9.4.5. R&D Expenditure
9.4.6. Business Performance
9.4.7. Key Strategic Moves And Developments
9.5. Nest Labs (Alphabet Inc.)
9.5.1. Company Overview
9.5.2. Company Snapshot
9.5.3. Operating Business Segments
9.5.4. Product Portfolio
9.5.5. R&D Expenditure
9.5.6. Business Performance
9.5.7. Key Strategic Moves And Developments
9.6. Netatmo (Legrand Sa)
9.6.1. Company Overview
9.6.2. Company Snapshot
9.6.3. Product Portfolio
9.6.4. R&D Expenditure
9.6.5. Business Performance
9.7. Schneider Electric S.E.
9.7.1. Company Overview
9.7.2. Company Snapshot
9.7.3. Operating Business Segments
9.7.4. Product Portfolio
9.7.5. Business Performance
9.7.6. Key Strategic Moves And Developments
9.8. Siemens Ag
9.8.1. Company Overview
9.8.2. Company Snapshot
9.8.3. Operating Business Segments
9.8.4. Product Portfolio
9.8.5. Business Performance
9.8.6. Key Strategic Moves And Developments
9.9. Tado
9.9.1. Company Overview
9.9.2. Company Snapshot
9.9.3. Product Portfolio
9.9.4. Key Strategic Moves And Developments
9.10. Zen Ecosystems
9.10.1. Company Overview
9.10.2. Company Snapshot
9.10.3. Product Portfolio
9.10.4. Key Strategic Moves And Developments
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Ecobee
  • Emerson Electric Co.
  • Johnson Controls
  • Nest Labs
  • Netatmo
  • Schneider Electric
  • MORE
According to the report titled 'Smart Thermostat Market by Technology, Application, and End Use: Global Opportunity Analysis and Industry Forecast, 2019-2026', the global smart thermostat market size was valued at $1.36 billion in 2018, and is projected to reach $8.78 billion by 2026, to register a CAGR of 26.0% during the smart thermostat market forecast.

Smart thermostat are the devices designed to control ambience temperature and air conditioning. These smart devices provide users the benefit to control temperature throughout the day using a schedule. In addition, smart thermostat is integrated with sensors and smart-net technology such as WiFi that provides remote access to the internet connected devices. Smart thermostat is used in smart infrastructure to control smart appliances such as window ACs, split ACs, portables ACs, heaters, radiators, and boilers.

According to smart thermostat market trends, smart thermostats are installed with remote access software and programmed with artificial intelligence. This enables smart thermostats to get programmed for future schedules to control temperature as per the need of users. It also operates in a self-learning mode by the data its software collects over the period.

Infrared technology is the wireless connectivity used in smart thermostat to access it in the line of sight range using remote device. For instance, smart thermostat by Air Patrol that has integrated infrared floor sensors. Room Unit thermostat with infrared floor sensor makes sure that your bathroom floor is set to the ideal and that the more demanding floor surfaces are kept safe, which offers lucrative smart thermostat market opportunity globally.

According to the smart thermostat market analysis, latest smart thermostat is integrated with Wi-Fi technology which allows wireless connectivity from remote devices. For instance, Honeywell 7-DAY programmable thermostat provide the consumer with WiFi connectivity that enables the HVAC systems to be controlled through remote access.

Rapid adoption of smart infrastructure in residential and commercial infrastructure, penetration of IoT and AI based technologies, and in analysis creased use of smart technology in medical monitoring influences the smart thermostat market growth. However, high cost of products in developing countries hampers early adoption. Further, increased advancements and adoption of automated systems in residential, commercial, and industrial sectors are expected to provide lucrative smart thermostat market opportunity for the smart thermostat market growth during the forecast period.

The smart thermostat industry is segmented on the basis of technology, application, end use, and region. By technology, it is categorized into WiFi, Infrared, Bluetooth, and others. By application, it is classified into split AC, window AC, portable AC, and others. The end use segment is divided into residential, commercial, industrial, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players operating in the global Smart Thermostat Market are Emerson Electric Co., Ecobee, Honeywell International Inc., Johnson Controls, Nest Labs, Netatmo, Schneider Electric, Siemens AG, Tado and Zen Thermostat. These key players adopted several strategies such as new product launch & development, acquisition, partnership & collaboration, and business expansion to an increase the smart thermostat market share during the forecast period. For instance, Honeywell 7-DAY programmable thermostat provide the consumer with WiFi connectivity that enables the HVAC systems to be controlled through remote access.

Asia-Pacific accommodates major population of the globe. The penetration of smart phones and adoption of smart electronic appliances in residential, commercial and industrial sector is expected to grow smart thermostat market. Owing to technological advancements, the appliances in residential buildings, such as washing machines, heating, and cooling equipment, and refrigerators, are increasingly going smart. This means that they can be connected to the internet.

Key Findings of the Smart Thermostat Market:

In 2018, the WiFi subsegment generated the highest revenue in the global smart thermostat market size.
By application, the chemical segment was the highest revenue contributor in 2018.
Note: Product cover images may vary from those shown
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  • Emerson Electric Co.
  • Ecobee
  • Honeywell International Inc.
  • Johnson Controls
  • Nest Labs
  • Netatmo
  • Schneider Electric
  • Siemens AG
  • Tado and Zen Thermostat
Note: Product cover images may vary from those shown
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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