Smart Thermostat Market Growth Industry Trends To 2022

Global Smart Thermostat Market Size Worth $2.21 Billion
By 2022.
The global smart thermostat market is expected to reach USD 2.21 billion by 2022, according
to a new study by Grand View Research, Inc. These devices allow users to remotely manage
their heating and air conditioning systems using wireless connectivity and mobile apps. They
form an important part of smart homes and have gained immense demand from residences in
developed regions such as North America and Europe.
The smart thermostat market is expected to witness growth since they display energy
consumption in real-time and are able to adjust itself based on ambient conditions automatically.
They can connect to the internet and offer analytics and performance measurement tools through
web portals. Such devices are packed with technologies such as ZigBee or Wi-Fi and form a part
of the home automation ecosystem.
Energy and utility retailers also play a vital role in bringing devices into households. May
utilities are offering these products as a part of their home energy management schemes.
Involvement of energy retailers heightens the potential for smart thermostat industry growth. At
the same time, proliferation of mobile phones and its convergence with thermostats is makes
these products much more attractive for end-users.
Growing penetration of smartphones, rising energy costs, need for effective energy management
solutions and favorable regulatory scenario are expected to propel growth over the coming years.
However, high cost of devices and data security concerns may restrain the smart thermostat
market. Increased penetration of Near Field Communication (NFC) and ZigBee home
automation devices is expected to augment demand.
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Table of Contents
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumption
1.3. List of Data Sources
Chapter 2. Executive Summary
2.1. Smart thermostat - Industry snapshot and key buying criteria, 2012 - 2022
Chapter 3. Smart Thermostat Industry Outlook
3.1. Market Segmentation
3.2. Market Size and Growth Prospects
3.3. Smart Thermostat Value Chain Analysis
3.3.1. Vendor landscape
3.4. Smart Thermostat – Technology Roadmap
3.5. Smart Thermostat Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.6. Key Opportunities Prioritized
3.7. Industry Analysis - Porter's
3.8. Smart Thermostat – Key Competitor Analysis, 2014
3.8.1. Company strategy overview
3.9. Smart Thermostat Market PESTEL Analysis, 2014
Chapter 4. Smart Thermostat Technology Outlook
4.1. Wi-Fi
4.1.1. Global market estimates and forecasts by region, 2012 - 2022 (USD
Million)
4.2. ZigBee
4.2.1. Global market estimates and forecasts by region, 2012 - 2022 (USD
Million)
4.3. Others
4.3.1. Global market estimates and forecasts by region, 2012 - 2022 (USD
Million)
Chapter 5. Smart Thermostat Regional Outlook
5.1. North America
5.1.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
5.1.2. U.S.
5.1.2.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
5.1.3. Canada
5.1.3.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
5.2. Europe
5.2.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
5.2.2. Germany
5.2.2.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
5.2.3. UK
5.2.3.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
5.3. Asia Pacific
5.3.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
5.3.2. China
5.3.2.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
5.3.3. ANZ
5.3.3.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
5.4. Latin America
5.4.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
5.5. MEA
5.5.1. Smart thermostat market by technology, 2012 - 2022 (USD Million)
Chapter 6. Competitive Landscape
6.1. Allure Energy Inc.
6.1.1. Company Overview
6.1.2. Financial Performance
6.1.3. Product Benchmarking
6.1.4. Strategic Initiatives
6.2. British Gas
6.2.1. Company Overview
6.2.2. Financial Performance
6.2.3. Product Benchmarking
6.2.4. Strategic Initiatives
6.3. Carrier Corporation
6.3.1. Company Overview
6.3.2. Financial Performance
6.3.3. Product Benchmarking
6.3.4. Strategic Initiatives
6.4. Climote Ltd.
6.4.1. Company Overview
6.4.2. Financial Performance
6.4.3. Product Benchmarking
6.4.4. Strategic Initiatives
6.5. Computime Group Ltd.
6.5.1. Company Overview
6.5.2. Financial Performance
6.5.3. Product Benchmarking
6.5.4. Strategic Initiatives
6.6. Comverge Inc.
6.6.1. Company Overview
6.6.2. Financial Performance
6.6.3. Product Benchmarking
6.6.4. Strategic Initiatives
6.7. Control4 Corporation
6.7.1. Company Overview
6.7.2. Financial Performance
6.7.3. Product Benchmarking
6.7.4. Strategic Initiatives
6.8. CPS Energy
6.8.1. Company Overview
6.8.2. Financial Performance
6.8.3. Product Benchmarking
6.8.4. Strategic Initiatives
6.9. Ecobee Inc.
6.9.1. Company Overview
6.9.2. Financial Performance
6.9.3. Product Benchmarking
6.9.4. Strategic Initiatives
6.10. EcoFactor
6.10.1. Company Overview
6.10.2. Financial Performance
6.10.3. Product Benchmarking
6.10.4. Strategic Initiatives
6.11. Emerson Climate Technologies
6.11.1. Company Overview
6.11.2. Financial Performance
6.11.3. Product Benchmarking
6.11.4 Strategic Initiatives
6.12. Energate Inc.
6.12.1. Company Overview
6.12.2. Financial Performance
6.12.3. Product Benchmarking
6.12.4. Strategic Initiatives
6.13. EnergyHub
6.13.1. Company Overview
6.13.2. Financial Performance
6.13.3. Product Benchmarking
6.13.4. Strategic Initiatives
6.14. Google (Nest Labs)
6.14.1. Company Overview
6.14.2. Financial Performance
6.14.3. Product Benchmarking
6.14.4. Strategic Initiatives
6.15. GridPoint Inc.
6.15.1. Company Overview
6.15.2. Financial Performance
6.15.3. Product Benchmarking
6.15.4. Strategic Initiatives
6.16. Honeywell International
6.16.1. Company Overview
6.16.2. Financial Performance
6.16.3. Product Benchmarking
6.16.4. Strategic Initiatives
6.17. Ingersoll Rand (Trane)
6.17.1. Company Overview
6.17.2. Financial Performance
6.17.3. Product Benchmarking
6.17.4. Strategic Initiatives
6.18. Landis+Gyr
6.18.1. Company Overview
6.18.2. Financial Performance
6.18.3. Product Benchmarking
6.18.4. Strategic Initiatives
6.19. Lux Products Corporation
6.19.1. Company Overview
6.19.2. Financial Performance
6.19.3. Product Benchmarking
6.19.4. Strategic Initiatives
6.20. Radio Thermostat Company of America
6.20.1. Company Overview
6.20.2. Financial Performance
6.20.3. Product Benchmarking
6.20.4. Strategic Initiatives
6.21. Schneider Electric
6.21.1. Company Overview
6.21.2. Financial Performance
6.21.3. Product Benchmarking
6.21.4. Strategic Initiatives
6.22. Tado GmbH
6.22.1. Company Overview
6.22.2. Financial Performance
6.22.3. Product Benchmarking
6.22.4. Strategic Initiatives
6.23. Vivint Inc.
6.23.1. Company Overview
6.23.2. Financial Performance
6.23.3. Product Benchmarking
6.23.4. Strategic Initiatives
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Further key findings from the study suggest:
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The smart thermostat market primarily includes technology such as Wi-Fi, ZigBee and
other technologies including NFC, Bluetooth, and Ethernet. ZigBee-enabled devices are
expected to gain significant share as consumers shift towards home automation devices.
North American and European smart thermostat market accounted for about 90% of the
overall market in 2014 owing to high demand for such devices in the region and
favorable government mandates. Surge in new construction activity and growing
popularity of smart homes is expected to spur demand.
Key players include Honeywell, Google Nest and Ecobee; and together they accounted
for over 40% of the overall smart thermostat market share in 2014. Companies have been
focusing on development and launching of new products, as well as upgrading the
existing product portfolio. Agreements and collaborations are also practiced for gaining
strategic advantage. Competition in the industry is intensifying rapidly owing to high
interest levels among customers piqued by arrival of new and creative products.
About Grand View Research
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business decisions, we offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and energy. With a deepseated understanding of varied business environments, Grand View Research provides strategic
objective insights.
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The global smart thermostat market is expected to reach USD 2.21 billion by 2022, according to a new study by Grand View Research, Inc. These devices allow users to remotely manage their heating and air conditioning systems using wireless connectivity and mobile apps. They form an important part of smart homes and have gained immense demand from residences in developed regions such as North America and Europe.