The Global Smart Thermostats Market, 2020

A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines

Smart thermostats have changed the way home appliances are controlled for better living conditions. They learn about the heating and cooling preferences in a household and adjust settings automatically, and allow for access of real-time and historical data to optimize performance when a space is unoccupied.

The global smart thermostat market is on a growth trajectory. Revenue reached $2.03 billion in 2019; by 2025, the publisher expects it to reach $4.81 billion, triggered by the penetration of smart home solutions and rising demand for energy- and cost-saving technologies. North America and Europe have been and will continue to be the top growth markets. Sales in the Asia-Pacific region and the Middle East will be concentrated in a few countries, including China, Japan, and the United Arab Emirates.

Manufacturers are developing home monitoring platforms (with smart thermostats as a central component) that can communicate with room sensors, security cameras, and door/window sensors to ensure occupant security. Market drivers include smart thermostats' role in demand response and smart home automation devices, though cybersecurity and compatibility with legacy systems are persistent concerns.

The research radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the research radar methodology. The document presents competitive profiles on each of the companies in the research radar based on their strengths, opportunities, and a small discussion on their positioning. The publisher analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the research radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.