Smart Thermostat Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023

The global smart thermostat market reached a value of US$ 1.1 Billion in 2017. A smart thermostat is a part of a control system which senses and maintains the temperature of an area. It is an automatic device which is capable of remotely switching on and off the heating of a room through the internet. Smart thermostats can be programmed and used via various mobile devices such as remote controls, smartphones and computers. They can also display the amount of heating being used and control their activity by tracking or learning the daily routine of the user.

Over the years, there has been a significant rise in the installation of smart home systems and technologies in households. This is one of the primary factors driving the growth of the global smart thermostat market. Moreover, there has been a surge in the sales of various smart home voice assistants such as Amazon Echo and Google Home which is further driving the growth of the market. In addition, as smart thermostats help in saving electricity, their sales have been influenced by the augmented demand for energy efficient solutions. This represents another factor which is positively influencing the market growth. Looking forward, the market is projected to reach a value of US$ 3.4 Billion by 2023, registering a CAGR of 20% during 2018-2023.

Market Summary:

Based on the product, the market has been segmented into standalone smart thermostats, connected smart thermostats and learning smart thermostats.
On the basis of component, the global smart thermostat market has been segregated into display, temperature sensor, humidity sensor, motion sensor and others.
Based on technology, the market has been segmented into wired and wireless smart thermostats. Further, the wireless smart thermostat market has been segregated into WiFi, Zig Bee and others.
Based on application, the market has been segmented into residential, commercial and industrial.
Region-wise, the global smart thermostat market has been segregated into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Among these, North America represents the biggest market for smart thermostats.
The competitive landscape of the market has also been examined with some of the key players being Nest Labs, Inc., Honeywell International Inc., Ecobee, Inc., Emerson Electric Co., Schneider Electric SE, Tado GmbH, Control4 Corporation, Carrier Corporation and Nortek, Inc.
This report provides a deep insight into the global smart thermostat market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porters five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the smart thermostat market in any manner.

Key Questions Answered in This Report:

How has the global smart thermostat market performed so far and how will it perform in the coming years?
What are the key regions in the global smart thermostat market?
What are the major application segments in the global smart thermostat market?
What are the different technologies of smart thermostat?
What are the major components in the global smart thermostat market?
Which are the popular products in the global smart thermostat market?
What are the price trends of smart thermostat?
What are the various stages in the value chain of the global smart thermostat market?
What are the key driving factors and challenges in the global smart thermostat market?
What is the structure of the global smart thermostat market and who are the key players?
What is the degree of competition in the global smart thermostat market?
How is smart thermostat manufactured?

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Smart Thermostat Market
5.1 Market Overview
5.2 Market Performance
5.3 Price Analysis
5.3.1 Price Indicators
5.3.2 Price Structure
5.3.3 Margin Analysis
5.4 Market Breakup by Product
5.5 Market Breakup by Component
5.6 Market Breakup by Technology
5.7 Market Breakup by Application
5.8 Market Breakup by Region
5.9 Market Forecast
5.10 SWOT Analysis
5.10.1 Overview
5.10.2 Strengths
5.10.3 Weaknesses
5.10.4 Opportunities
5.10.5 Threats
5.11 Value Chain Analysis
5.11.1 Overview
5.11.2 Research and Development
5.11.3 Raw Material Procurement
5.11.4 Manufacturing
5.11.5 Marketing
5.11.6 Distribution
5.11.7 End-Use
5.12 Porters Five Forces Analysis
5.12.1 Overview
5.12.2 Bargaining Power of Buyers
5.12.3 Bargaining Power of Suppliers
5.12.4 Degree of Competition
5.12.5 Threat of New Entrants
5.12.6 Threat of Substitutes
6 Market Breakup by Product
6.1 Standalone Smart Thermostats
6.2 Connected Smart Thermostats
6.3 Learning Smart Thermostats
7 Market Breakup by Component
7.1 Display
7.2 Temperature Sensor
7.3 Humidity Sensor
7.4 Motion Sensor
7.5 Others
8 Market Breakup by Technology
8.1 Wired
8.2 Wireless
8.2.1 WiFi
8.2.2 Zig Bee
8.2.3 Others
9 Market Breakup by Application
9.1 Residential
9.2 Commercial
9.3 Industrial
10 Market Breakup by Region
10.1 North America
10.2 Europe
10.3 Asia Pacific
10.4 Middle East and Africa
10.5 Latin America
11 Smart Thermostat Manufacturing Process
11.1 Product Overview
11.2 Raw Material Requirements
11.3 Manufacturing Process
11.4 Key Success and Risk Factors
12 Competitive Landscape
12.1 Market Structure
12.2 Key Players
12.3 Profiles of Key Players
12.3.1 Nest Labs, Inc.
12.3.2 Honeywell International Inc.
12.3.3 Ecobee, Inc.
12.3.4 Emerson Electric Co.
12.3.5 Schneider Electric SE
12.3.6 Tado GmbH
12.3.7 Control4 Corporation
12.3.8 Carrier Corporation
12.3.9 Nortek, Inc.

List Of Tables

Figure 1: Global: Smart Thermostat Market: Major Drivers and Challenges
Figure 2: Global: Smart Thermostat Market: Sales Value (in Billion US$), 2010-2017
Figure 3: Global: Smart Thermostat Market: Breakup by Product (in %), 2017
Figure 4: Global: Smart Thermostat Market: Breakup by Component (in %), 2017
Figure 5: Global: Smart Thermostat Market: Breakup by Technology (in %), 2017
Figure 6: Global: Smart Thermostat Market: Breakup by Application (in %), 2017
Figure 7: Global: Smart Thermostat Market: Breakup by Region (in %), 2017
Figure 8: Global: Smart Thermostat Market Forecast: Sales Value (in Billion US$), 2018-2023
Figure 9: Global: Smart Thermostat Industry: SWOT Analysis
Figure 10: Global: Smart Thermostat Industry: Value Chain Analysis
Figure 11: Global: Smart Thermostat Industry: Porters Five Forces Analysis
Figure 12: Global: Smart Thermostat Market(Standalone Smart Thermostats): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 13: Global: Smart Thermostat Market (Connected Smart Thermostats): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 14:Global: Smart Thermostat Market (Learning Smart Thermostats): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 15: Global: Smart Thermostat Market (Display): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 16: Global: Smart Thermostat Market (Temperature Sensor): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 17: Global: Smart Thermostat Market (Humidity Sensor): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 18: Global: Smart Thermostat Market (Motion Sensor): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 19: Global: Smart Thermostat Market (Other Components): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 20: Global: Smart Thermostat Market (Wired): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 21: Global: Smart Thermostat Market (Wireless): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 22: Global: Smart Thermostat Market(Application in Residential): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 23: Global: Smart Thermostat Market (Application in Commercial): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 24: Global: Smart Thermostat Market (Application in Industrial): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 25: North America: Smart Thermostat Market: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 26: Europe: Smart Thermostat Market: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 27: Asia Pacific: Smart Thermostat Market: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 28: Middle East and Africa: Smart Thermostat Market: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 29: Latin America: Smart Thermostat Market: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 30: Smart Thermostat Manufacturing: Process Flow

List Of Figures

Table 1: Global: Smart Thermostat Market: Key Industry Highlights, 2017 and 2023
Table 2: Global: Smart Thermostat Market Forecast: Breakup by Product (in Million US$), 2018-2023
Table 3: Global: Smart Thermostat Market Forecast: Breakup by Component (in Million US$), 2018-2023
Table 4: Global: Smart Thermostat Market Forecast: Breakup by Technology (in Million US$), 2018-2023
Table 5: Global: Smart Thermostat Market Forecast: Breakup by Application (in Million US$), 2018-2023
Table 6: Global: Smart Thermostat Market Forecast: Breakup by Region (in Million US$), 2018-2023
Table 7: Smart Thermostat: Raw Material Requirements
Table 8: Global: Smart Thermostat Market Structure
Table 9: Global: Smart Thermostat Market: Key Players

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