Smart & Connected Thermostats in the US

Report
126 Pages
July 2018
Region: United States
The Freedonia Group
ID: 4616466

Smart & Connected Thermostats in the US

US demand for smart and connected thermostats is forecast to increase 18% per year through 2022, when demand is expected to transition to become less comprised of initial product purchases and more replacement-oriented. Driving gains will be the immediate cost- and energy-saving benefits of smart and connected thermostats compared to traditional low-tech types, which will appeal to a broader range of consumers, as well as the growing ubiquity of smart home devices overall.

This report covers US demand for smart and connected thermostats sold via consumer channels to residences and small businesses, along with profiles of key product introductions and industry leaders, as well as discussion of the technological outlook for the next generation of products.

Data are given in dollar value at the manufacturer level and in unit terms, as well as in terms of the number of US households that contain smart and/or connected thermostats.

The study also compares total US HVAC thermostat demand with that of smart and connected thermostats and provides a comprehensive overview of the overall smart home/IoT market.

Scope of the Report
This report covers the scope, size, and growth of the US smart and connected thermostat market, including key trends in product mix and technological innovation. Historical data are provided for 2012 and 2017, along with forecasts for 2022 and 2025. Data are provided in both volume and value terms. Also included is an analysis of the leading industry key players, their market activities, and their recent or forthcoming product introductions.

1. EXECUTIVE SUMMARY

2. SMART THERMOSTAT OVERVIEW

Key Findings
Smart Versus Connected Thermostats
Broadband Internet Subscriptions per Household
The Internet of Things
Definition
Smart Home Revolution: The Race to Automate the Home
Artificial Intelligence, Domotics, & Ambient Computing
Technology & Product Innovation
Introduction
Activity & Ambient Temperature Sensors
Geofencing
Learning Algorithms
Blockchain
Environmental & Regulatory Factors
Advantages of Smart & Connected Thermostats
Challenges Impacting Smart & Connected Thermostat Demand
Smart Home Integrations
Sales Channels for Smart & Connected Thermostats
Scope
Retail
HVAC Contractor
Utilities
Other Distribution Channels

3. PRODUCTS

Key Findings
Smart & Connected Thermostat Demand Forecasts
Value Demand Forecast
Volume Demand Forecast
Smart & Connected Thermostat Demand by Type
Key Smart Product Introductions
Overview
Carrier (United Technologies)
ecobee
Honeywell
LUX Products
Nest Labs (Google)
Schneider Electric

4. PRODUCERS

Key Findings & Industry Composition
Market Share
Research & Product Development
Mergers & Acquisitions
Cooperative Agreements
Marketing Strategies
Overview
Co-Branding Partnerships
Energy Conservation Programs
Philanthropic Initiatives
Smart Neighborhoods
Alarm.com Incorporated
Alphabet Incorporated (Google)
APX Group Incorporated
Ecobee Incorporated
EcoFactor Incorporated
Emerson Electric Company
Honeywell International Incorporated
Johnson Controls plc
LUX Products Corporation
Schneider Electric
tado° GmbH
Tantalus Systems Corporation
United Technologies Corporation
Other Companies Mentioned in Study

5. APPENDIX

Scope
Definitions
Abbreviations
Freedonia Methodology
Study Specific Methodology
Sources
Associations & Agencies
Related Freedonia Group Studies
Climate Zones
Macroeconomic Assumptions
Economic Environment
Demographic Trends

LIST OF TABLES

2. SMART THERMOSTAT OVERVIEW
Table 2-1 - US Households with Broadband Subscription, 2012 – 2025 (millions)
Table 2-2 - Smart Home Speaker & Hub Retail Sales, 2016 – 2025
3. PRODUCTS
Table 3-1 - Smart & Connected Thermostat Demand by Value, 2012 – 2025 (million
dollars)
Table 3-2 - Smart & Connected Thermostat Demand by Volume, 2012 – 2025 (million
units)
Table 3-3 - Smart & Connected Thermostat Demand by Type, 2012 – 2025
Table 3-4 - Smart & Connected Thermostats: Timeline of Key Market Developments
4. PRODUCERS
Table 4-1 - Selected Smart & Connected Thermostat Market Participants
Table 4-2 - Selected Cooperative Agreements
Table 4-3 - Alarm.com: Key Product Lines
Table 4-4 - Alphabet: Key Product Lines
Table 4-5 - Vivint: Key Product Lines
Table 4-6 - ecobee: Key Product Lines
Table 4-7 - EcoFactor: Key Product Lines
Table 4-8 - Emerson Electric: Key Product Lines
Table 4-9 - Honeywell International: Key Product Lines
Table 4-10 - Johnson Controls: Key Product Lines
Table 4-11 - LUX Products: Key Product Lines
Table 4-12 - Schneider Electric: Key Product Lines
Table 4-13 - tado°: Key Product Lines
Table 4-14 - Tantalus Systems: Key Product Lines
Table 4-15 - United Technologies: Key Product Lines
5. APPENDIX
Table 5-1 - Relevant Industry Codes
Table 5-2 - Abbreviations & Acronyms Used in Study
Table 5-3 - Macroeconomic Indicators, 2007 – 2022 (billion 2009 dollars)
Table 5-4 - Population & Households, 2007 – 2022 (million persons)

LIST OF FIGURES

1. EXECUTIVE SUMMARY
Figure 1-1 - US Smart & Connected Thermostat Market
2. SMART THERMOSTAT OVERVIEW
Figure 2-1 - Key Trends in the US Smart & Connected Thermostat Market
Figure 2-2 - US Broadband Households that Purchased Smart & Connected
Thermostats, 2004 – 2017
3. PRODUCTS
Figure 3-1 - Key Smart & Connected Thermostat Product Trends
Figure 3-2 - Total HVAC & Smart & Connected Thermostat Demand by Value, 2004 –
2017 (million dollars)
Figure 3-3 - Smart & Connected Thermostat Demand by Volume, 2011 – 2025
(thousand units)
Figure 3-4 - Smart & Connected Thermostat Volume Demand Share by Type, 2012 –
2025
Figure 3-5 - Carrier Smart & Connected Thermostats
Figure 3-6 - ecobee Smart Thermostats
Figure 3-7 - Honeywell Smart Thermostats
Figure 3-8 - LUX Products Smart Thermostats
Figure 3-9 - Nest Labs Smart Thermostats
Figure 3-10 - Schneider Electric’s Wiser Air Smart Thermostat
5. APPENDIX
Figure 5-1 - Continental US Climate Zones
Figure 5-2 - Annual Growth in Real GDP, 2000 – 2017, Compared to 1980 – 2005
Average (percent)
Figure 5-3 - Annual Population Growth, 2002 – 2017 (percent)

Methodology

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Table of Contents

Methodology

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