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Smart Thermostats-Global Market Insights and Sales Trends 2024
Synopsis
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 global Smart Thermostats market size is expected to reach US$ 4927.5 million by 2029, growing at a CAGR of 12.7% from 2023 to 2029. The market is mainly driven by the significant applications of Smart Thermostats in various end use industries. The expanding demands from the Residential and Commercial, are propelling Smart Thermostats market. WiFi Thermostats, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the ZigBee Thermostats segment is estimated at % CAGR for the next seven-year period.
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.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Smart Thermostats, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Smart Thermostats market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Smart Thermostats market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Smart Thermostats sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Smart Thermostats covered in this report include Nest, Honeywell, EcoBee, Schneider Electric, Emerson, LUX/GEO, Carrier, Energate Inc. and Tado GmbH, etc.
The global Smart Thermostats market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Nest
Honeywell
EcoBee
Schneider Electric
Emerson
LUX/GEO
Carrier
Energate Inc.
Tado GmbH
Control4
Netatmo
Hive Home
Global Smart Thermostats market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Smart Thermostats market, Segment by Type:
WiFi Thermostats
ZigBee Thermostats
Others
Global Smart Thermostats market, by Application
Residential
Commercial
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Smart Thermostats manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Smart Thermostats in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
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 global Smart Thermostats market size is expected to reach US$ 4927.5 million by 2029, growing at a CAGR of 12.7% from 2023 to 2029. The market is mainly driven by the significant applications of Smart Thermostats in various end use industries. The expanding demands from the Residential and Commercial, are propelling Smart Thermostats market. WiFi Thermostats, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the ZigBee Thermostats segment is estimated at % CAGR for the next seven-year period.
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.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Smart Thermostats, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Smart Thermostats market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Smart Thermostats market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Smart Thermostats sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Smart Thermostats covered in this report include Nest, Honeywell, EcoBee, Schneider Electric, Emerson, LUX/GEO, Carrier, Energate Inc. and Tado GmbH, etc.
The global Smart Thermostats market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Nest
Honeywell
EcoBee
Schneider Electric
Emerson
LUX/GEO
Carrier
Energate Inc.
Tado GmbH
Control4
Netatmo
Hive Home
Global Smart Thermostats market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Smart Thermostats market, Segment by Type:
WiFi Thermostats
ZigBee Thermostats
Others
Global Smart Thermostats market, by Application
Residential
Commercial
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Smart Thermostats manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Smart Thermostats in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index1 Smart Thermostats Market Overview
1.1 Smart Thermostats Product Overview
1.2 Smart Thermostats Market Segment by Type
1.2.1 WiFi Thermostats
1.2.2 ZigBee Thermostats
1.2.3 Others
1.3 Global Smart Thermostats Market Size by Type
1.3.1 Global Smart Thermostats Market Size Overview by Type (2018-2029)
1.3.2 Global Smart Thermostats Historic Market Size Review by Type (2018-2023)
1.3.3 Global Smart Thermostats Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Smart Thermostats Sales Breakdown by Type (2018-2023)
1.4.2 Europe Smart Thermostats Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Smart Thermostats Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Smart Thermostats Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Smart Thermostats Sales Breakdown by Type (2018-2023)
2 Global Smart Thermostats Market Competition by Company
2.1 Global Top Players by Smart Thermostats Sales (2018-2023)
2.2 Global Top Players by Smart Thermostats Revenue (2018-2023)
2.3 Global Top Players by Smart Thermostats Price (2018-2023)
2.4 Global Top Manufacturers Smart Thermostats Manufacturing Base Distribution, Sales Area, Product Type
2.5 Smart Thermostats Market Competitive Situation and Trends
2.5.1 Smart Thermostats Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Smart Thermostats Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Smart Thermostats as of 2022)
2.7 Date of Key Manufacturers Enter into Smart Thermostats Market
2.8 Key Manufacturers Smart Thermostats Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Smart Thermostats Status and Outlook by Region
3.1 Global Smart Thermostats Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Smart Thermostats Historic Market Size by Region
3.2.1 Global Smart Thermostats Sales in Volume by Region (2018-2023)
3.2.2 Global Smart Thermostats Sales in Value by Region (2018-2023)
3.2.3 Global Smart Thermostats Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Smart Thermostats Forecasted Market Size by Region
3.3.1 Global Smart Thermostats Sales in Volume by Region (2024-2029)
3.3.2 Global Smart Thermostats Sales in Value by Region (2024-2029)
3.3.3 Global Smart Thermostats Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Smart Thermostats by Application
4.1 Smart Thermostats Market Segment by Application
4.1.1 Residential
4.1.2 Commercial
4.2 Global Smart Thermostats Market Size by Application
4.2.1 Global Smart Thermostats Market Size Overview by Application (2018-2029)
4.2.2 Global Smart Thermostats Historic Market Size Review by Application (2018-2023)
4.2.3 Global Smart Thermostats Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Smart Thermostats Sales Breakdown by Application (2018-2023)
4.3.2 Europe Smart Thermostats Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Smart Thermostats Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Smart Thermostats Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Smart Thermostats Sales Breakdown by Application (2018-2023)
5 North America Smart Thermostats by Country
5.1 North America Smart Thermostats Historic Market Size by Country
5.1.1 North America Smart Thermostats Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Smart Thermostats Sales in Volume by Country (2018-2023)
5.1.3 North America Smart Thermostats Sales in Value by Country (2018-2023)
5.2 North America Smart Thermostats Forecasted Market Size by Country
5.2.1 North America Smart Thermostats Sales in Volume by Country (2024-2029)
5.2.2 North America Smart Thermostats Sales in Value by Country (2024-2029)
6 Europe Smart Thermostats by Country
6.1 Europe Smart Thermostats Historic Market Size by Country
6.1.1 Europe Smart Thermostats Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Smart Thermostats Sales in Volume by Country (2018-2023)
6.1.3 Europe Smart Thermostats Sales in Value by Country (2018-2023)
6.2 Europe Smart Thermostats Forecasted Market Size by Country
6.2.1 Europe Smart Thermostats Sales in Volume by Country (2024-2029)
6.2.2 Europe Smart Thermostats Sales in Value by Country (2024-2029)
7 Asia-Pacific Smart Thermostats by Region
7.1 Asia-Pacific Smart Thermostats Historic Market Size by Region
7.1.1 Asia-Pacific Smart Thermostats Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Smart Thermostats Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Smart Thermostats Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Smart Thermostats Forecasted Market Size by Region
7.2.1 Asia-Pacific Smart Thermostats Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Smart Thermostats Sales in Value by Region (2024-2029)
8 Latin America Smart Thermostats by Country
8.1 Latin America Smart Thermostats Historic Market Size by Country
8.1.1 Latin America Smart Thermostats Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Smart Thermostats Sales in Volume by Country (2018-2023)
8.1.3 Latin America Smart Thermostats Sales in Value by Country (2018-2023)
8.2 Latin America Smart Thermostats Forecasted Market Size by Country
8.2.1 Latin America Smart Thermostats Sales in Volume by Country (2024-2029)
8.2.2 Latin America Smart Thermostats Sales in Value by Country (2024-2029)
9 Middle East and Africa Smart Thermostats by Country
9.1 Middle East and Africa Smart Thermostats Historic Market Size by Country
9.1.1 Middle East and Africa Smart Thermostats Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Smart Thermostats Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Smart Thermostats Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Smart Thermostats Forecasted Market Size by Country
9.2.1 Middle East and Africa Smart Thermostats Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Smart Thermostats Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 Nest
10.1.1 Nest Company Information
10.1.2 Nest Introduction and Business Overview
10.1.3 Nest Smart Thermostats Sales, Revenue and Gross Margin (2018-2023)
10.1.4 Nest Smart Thermostats Products Offered
10.1.5 Nest Recent Development
10.2 Honeywell
10.2.1 Honeywell Company Information
10.2.2 Honeywell Introduction and Business Overview
10.2.3 Honeywell Smart Thermostats Sales, Revenue and Gross Margin (2018-2023)
10.2.4 Honeywell Smart Thermostats Products Offered
10.2.5 Honeywell Recent Development
10.3 EcoBee
10.3.1 EcoBee Company Information
10.3.2 EcoBee Introduction and Business Overview
10.3.3 EcoBee Smart Thermostats Sales, Revenue and Gross Margin (2018-2023)
10.3.4 EcoBee Smart Thermostats Products Offered
10.3.5 EcoBee Recent Development
10.4 Schneider Electric
10.4.1 Schneider Electric Company Information
10.4.2 Schneider Electric Introduction and Business Overview
10.4.3 Schneider Electric Smart Thermostats Sales, Revenue and Gross Margin (2018-2023)
10.4.4 Schneider Electric Smart Thermostats Products Offered
10.4.5 Schneider Electric Recent Development
10.5 Emerson
10.5.1 Emerson Company Information
10.5.2 Emerson Introduction and Business Overview
10.5.3 Emerson Smart Thermostats Sales, Revenue and Gross Margin (2018-2023)
10.5.4 Emerson Smart Thermostats Products Offered
10.5.5 Emerson Recent Development
10.6 LUX/GEO
10.6.1 LUX/GEO Company Information
10.6.2 LUX/GEO Introduction and Business Overview
10.6.3 LUX/GEO Smart Thermostats Sales, Revenue and Gross Margin (2018-2023)
10.6.4 LUX/GEO Smart Thermostats Products Offered
10.6.5 LUX/GEO Recent Development
10.7 Carrier
10.7.1 Carrier Company Information
10.7.2 Carrier Introduction and Business Overview
10.7.3 Carrier Smart Thermostats Sales, Revenue and Gross Margin (2018-2023)
10.7.4 Carrier Smart Thermostats Products Offered
10.7.5 Carrier Recent Development
10.8 Energate Inc.
10.8.1 Energate Inc. Company Information
10.8.2 Energate Inc. Introduction and Business Overview
10.8.3 Energate Inc. Smart Thermostats Sales, Revenue and Gross Margin (2018-2023)
10.8.4 Energate Inc. Smart Thermostats Products Offered
10.8.5 Energate Inc. Recent Development
10.9 Tado GmbH
10.9.1 Tado GmbH Company Information
10.9.2 Tado GmbH Introduction and Business Overview
10.9.3 Tado GmbH Smart Thermostats Sales, Revenue and Gross Margin (2018-2023)
10.9.4 Tado GmbH Smart Thermostats Products Offered
10.9.5 Tado GmbH Recent Development
10.10 Control4
10.10.1 Control4 Company Information
10.10.2 Control4 Introduction and Business Overview
10.10.3 Control4 Smart Thermostats Sales, Revenue and Gross Margin (2018-2023)
10.10.4 Control4 Smart Thermostats Products Offered
10.10.5 Control4 Recent Development
10.11 Netatmo
10.11.1 Netatmo Company Information
10.11.2 Netatmo Introduction and Business Overview
10.11.3 Netatmo Smart Thermostats Sales, Revenue and Gross Margin (2018-2023)
10.11.4 Netatmo Smart Thermostats Products Offered
10.11.5 Netatmo Recent Development
10.12 Hive Home
10.12.1 Hive Home Company Information
10.12.2 Hive Home Introduction and Business Overview
10.12.3 Hive Home Smart Thermostats Sales, Revenue and Gross Margin (2018-2023)
10.12.4 Hive Home Smart Thermostats Products Offered
10.12.5 Hive Home Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Smart Thermostats Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Smart Thermostats Industrial Chain Analysis
11.4 Smart Thermostats Market Dynamics
11.4.1 Smart Thermostats Industry Trends
11.4.2 Smart Thermostats Market Drivers
11.4.3 Smart Thermostats Market Challenges
11.4.4 Smart Thermostats Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Smart Thermostats Distributors
12.3 Smart Thermostats Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer
Published By : QY Research
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