Smart Thermostat Market 2019 Global Trends, Share, Growth, Analysis, Opportunities and Forecast To 2026

A new market study, titled “Discover Global Smart Thermostat Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.

Pune, India - May 6, 2019 /MarketersMedia/ —

Introduction

Global Smart Thermostat Market - Market Overview

Smart Thermostats are thermostats equipped with additional features like Wi-Fi connectivity, sensors and voice assistance features which are used in controlling the temperature and air-conditioning of a building or an industry. Smart Thermostats are connected to IoT enabled devices like smartphones, tablets, smart watches, and laptops which allow the user to control the temperature from any part of the room via their devices. Smart Thermostats consist of different sensors like temperature sensors and humidity sensors which help in conveying important information such as temperature and humidity of the room to the user via an inbuilt display.

The Global Smart Thermostat Market was worth USD XX billion in 2018 and is forecasted to reach USD XX billion by 2026, growing at a CAGR of XX% during the forecast period (2019-2026).

 

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Global Smart Thermostat Market- Market Dynamics

Concerns over energy savings, increase in customers preferring smart home solutions, rising sales of smart home products such as Google Home and Amazon Echo and demand for connected and IoT devices are the major factors responsible for the growth of the global smart thermostat market.

Concerns over energy savings is a significant factor propelling the growth of the global smart thermostat market. Rising energy prices are posing a significant problem for the population and are adopting home automation solutions in reducing the overall spendings on energy. According to the Global Energy Statistical Yearbook 2018, the total power consumption accelerated in 2017 with a growth rate of +2.6%. The global power consumption in 2017 was 21,742 terra watt hours compared to 21,190 terra watt hours in 2016 and 20,937 terra watt hours in 2015. Owing to these reasons, concerns over energy savings is a significant factor driving the growth of the global smart thermostat market.

Global Smart Thermostat Market-Segmentation Analysis

The Global Smart Thermostat Market has been segmented by technology, type of components, application and geography.

Based on the type of technology, the market is segmented as wired and wireless technology. The wireless technology is further segmented into Wi-Fi, Bluetooth, and Z-Wave. Wi-Fi is the dominant segment of the global Smart Thermostat market owing to its unique advantages like affordable performance, unlicensed spectrum operation, ease of use, self-deployment and long-term compatibility. According to the Wi-Fi Alliance, the global economic market of Wi-Fi is estimated at USD 1.96 trillion. There are 340.8 million Wi-Fi hotspots across the world in which 12.2 million are commercially managed, and 328 million are community access points. Owing to the dominance of Wi-Fi networks, consumers widely prefer Wi-Fi-based products and the Wi-Fi technology of the smart thermostats is anticipated to dominate the global smart thermostat market.

 

Global Smart Thermostat Market-Geographical Analysis

The Global Smart Thermostat Market is segmented into North America, Europe, Asia Pacific, South America and Middle East and Africa.

The North America region is further segmented into the following areas as the U.S, Canada, and Mexico. The US is the dominant segment of the global smart thermostat market owing to the increasing sales of smart devices, and IoT enabled devices in the US. Factors such as high disposal incomes, high technology adoption rate and the high penetration rate of smart home solutions in the US are other significant factors contributing to the growth of the global smart thermostat market. According to a research study, The United States Smart Home market generated the highest market revenue in 2019 amounting to USD 23,556 million in 2018 compared to USD 17655 million in 2017. More than 42.2 million homes are equipped with smart home solutions as of now in 2019, and the average revenue per installed home amounts to USD 186.55. Owing to these factors, the North American region is the dominant segment of the global smart thermostats market.

Global Smart Thermostat Market-Competitive Analysis

Some of the major players in this market incorporate competitive strategies like mergers and acquisitions to retain their market competitiveness. For instance, in February 2019, Emerson Electric Company completed the acquisition of General Electric’s Intelligent Platform business which will enable Emerson to expand its capabilities in machine control and discrete applications.

 

Why Purchase the Report?

Visualize the composition of the Global Smart Thermostat Market across each indication, in terms of type, application, material, and function highlighting the key commercial drivers, restraints and market players.
Identify commercial opportunities in the Global Smart Thermostat Market by analyzing trends and co-development deals.
Excel data sheet with thousands of data points of the Global Smart Thermostat Market with level 4/5 segmentation.
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the key products of all major market players

Target Audience:

Equipment Suppliers/ Buyers
Service Providers/ Buyers
Industry Investors/Investment Bankers
Education & Research Institutes
Research Professionals
Emerging Companies
Manufacturers

 

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Table of Contents

SECTION 1

Global Smart Thermostat Market - Methodology and Scope

    1.1 Research Methodology

    1.2 Research Objective and Scope of the Report

SECTION 2

Global Smart Thermostat Market - Market Definition and Overview

SECTION 3

Global Smart Thermostat Market - Executive Summary

3.1 Market Snippet by Technology

3.2 Market Snippet by Components

3.3 Market Snippet by Application

3.4 Market Snippet by Region

3.5 DataM CLO Scenario

SECTION 4

Global Smart Thermostat Market - Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunity

4.4 Impact Analysis

SECTION 5

Global Smart Thermostat Market - Industry Analysis

5.1 Porter's Five Forces Analysis

5.2 Supply Chain Analysis

5.3 Patent Analysis

5.4 Technological Developments

SECTION 6

Global Smart Thermostat Market - By Technology

6.1 Wired Technology

6.2 Wireless Technology

6.2.1 Wi-Fi

6.2.2 Bluetooth

6.2.3 Zig Bee

6.2.4 Z Wave

SECTION 7

Global Smart Thermostat Market – Components

7.1 Temperature Sensors

7.2 Heat Sensors

7.3 Humidity Sensors

7.4 Display

7.5 Others

SECTION 8

Global Smart Thermostat Market – By Application

8.1 Residential Applications

8.2 Industrial Applications

8.3 Commercial Applications

SECTION 9

Global Smart Thermostat Market - By Region

9.1 North America

9.1.1 The U.S.

9.1.2 Canada

9.1.3 Mexico

9.2 Europe

9.2.1 Germany

9.2.2 U.K.

 

 

SECTION 10

Global Market - Competitive Landscape

10.1 Competitive Scenario

10.2 Competitor Strategy Analysis

10.3 Comparative Product Portfolio Analysis

10.4 Market Positioning/Share Analysis

10.5 Mergers and Acquisitions Analysis

SECTION 11

Company Profiles

11.1 Nest Labs Inc

 

SECTION 12

Global Smart Thermostat Market - Premium Insights

SECTION 13

Global Smart Thermostat Market - DataM

13.1 Appendix

 

 

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Contact Info:
Name: Norah Trent
Organization: WISE GUY RESEARCH CONSULTANTS PVT LTD
Website: http://www.wiseguyreports.com

Source URL: https://marketersmedia.com/smart-thermostat-market-2019-global-trends-share-growth-analysis-opportunities-and-forecast-to-2026/509248

Source: MarketersMedia

Release ID: 509248