Global Smart Thermostats Market Research Report 2023(Status and Outlook)

Global Smart Thermostats Market Research Report 2023(Status and Outlook)

Report Overview

Smart thermostats are devices that can be used with home automation and are responsible for controlling a home's heating and/or air conditioning. They perform the same functions as a Programmable thermostat as they allow the user to control the temperature of their home throughout the day using a schedule, such as setting a different temperature at night.

Like a connected thermostat, they are connected to the Internet. They allow users to adjust heating settings from other internet-connected devices, such as smartphones. This allows users to easily adjust the temperature remotely. This ease of use is essential for ensuring energy savings: studies have shown that households with programmable thermostats actually have higher energy consumption than those with simple thermostats, because residents program them incorrectly or disable them completely.

Based on technology, Smart Thermostats include Wi-Fi Thermostat, ZigBee Thermostat, NFC Thermostat, Ethernet Thermostat, Bluetooth Ethernet and etc. Wi-Fi Thermostat is the most popular type in the market.

The technical barrier of smart thermostats is high, resulting in few companies in the market. Nest is the first and largest producer, accounting for 23% of output. Other leading players include EcoBee, Honeywell, Emerson, Carrier, Energate Inc., Tado GmbH, Control4, Netatmo and Hive Home, etc. As for main production countries, it is estimated that North America accounted for more than 85% of global WiFi Thermostats output.

North America is also leading the downstream consumption market, occupied about 71% market share, Europe followed with 19% market share.

The Global Smart Thermostats Market Size was estimated at USD 1804.60 million in 2022 and is projected to reach USD 4167.24 million by 2029, exhibiting a CAGR of 12.70% during the forecast period.

Bosson Research’s latest report provides a deep insight into the global Smart Thermostats market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Smart Thermostats Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Smart Thermostats market in any manner.

Global Smart Thermostats Market: Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Company

Nest

Honeywell

EcoBee

Schneider Electric

Emerson

LUX/GEO

Carrier

Energate Inc.

Tado GmbH

Control4

Netatmo

Hive Home

Market Segmentation (by Type)

WiFi Thermostats

ZigBee Thermostats

Others

Market Segmentation (by Application)

Airports

Bridges

Roads

Rail & Metro

Ports

Nuclear Power Generation Infrastructure

Other Power Generation Infrastructure

Commercial High Rise

Others

Geographic Segmentation

North America (USA, Canada, Mexico)

Europe (Germany, UK, France, Russia, Italy, Rest of Europe)

Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)

South America (Brazil, Argentina, Columbia, Rest of South America)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Benefits of This Market Research:

Industry drivers, restraints, and opportunities covered in the study

Neutral perspective on the market performance

Recent industry trends and developments

Competitive landscape & strategies of key players

Potential & niche segments and regions exhibiting promising growth covered

Historical, current, and projected market size, in terms of value

In-depth analysis of the Smart Thermostats Market

Overview of the regional outlook of the Smart Thermostats Market:

Key Reasons to Buy this Report:

Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change

This enables you to anticipate market changes to remain ahead of your competitors