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.
LPI (LP Information)’ newest research report, the “Smart Thermostats Industry Forecast” looks at past sales and reviews total world Smart Thermostats sales in 2022, providing a comprehensive analysis by region and market sector of projected Smart Thermostats sales for 2023 through 2029. With Smart Thermostats sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Smart Thermostats industry.
This Insight Report provides a comprehensive analysis of the global Smart Thermostats landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Smart Thermostats portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Smart Thermostats market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Smart Thermostats and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Smart Thermostats.
The global Smart Thermostats market size is projected to grow from US$ 2067.6 million in 2022 to US$ 4917.2 million in 2029; it is expected to grow at a CAGR of 4917.2 from 2023 to 2029.
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.
This report presents a comprehensive overview, market shares, and growth opportunities of Smart Thermostats market by product type, application, key manufacturers and key regions and countries.
Top Manufactures in Global Smart Thermostats Includes:
Nest
Honeywell
EcoBee
Schneider Electric
Emerson
LUX/GEO
Carrier
Energate Inc.
Tado GmbH
Control4
Netatmo
Hive Home
Market Segment by Type, covers:
WiFi Thermostats
ZigBee Thermostats
Others
Market Segment by Applications, can be divided into:
Residential
Commercial
Key Questions Addressed in this Report
What is the 10-year outlook for the global Smart Thermostats market?
What factors are driving Smart Thermostats market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Smart Thermostats market opportunities vary by end market size?
How does Smart Thermostats break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?
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