Smart Thermostat Market in APAC 2015-2019

Market outlook of the smart thermostat market in APAC

Smart thermostats consist of hardware panels and sensors that can be controlled by smart devices like smart phones, tablets, and desktops. A smart thermostat not only controls the temperature efficiently, but also lowers the overall energy consumption, thus, helping in the reduction of energy bills, saving energy resource for future use, and also sustaining the planet earth. These factors positively influence the smart thermostat market in APAC and results in its profound CAGR of nearly 64% by 2019.

In this market analysis, Technavio market research analysts estimate eminent factors, such as the booming e-commerce market in Asia, to drive market growth during the forecast period. The advent of e-commerce portals is expected to positively influence market growth as it gives the consumers a platform to compare the prices and specifications of smart devices. Since Asia accounts for approximately 40% of the world’s internet population, the advent of e-commerce portals in this region is expected to impel market growth during the forecast period.

Technological segmentation of the smart thermostat market in APAC

• Wi-Fi
• Zigbee

Technavio’s market research analyst has estimated the Wi-Fi segment to be the fastest growing segment in this market during the forecast period. Its high market growth rate of more than 82% can be attributed to its real-time monitoring and intelligent sensing functionality.

Competitive landscape and key vendors

The weather conditions in APAC are tropical and not that extreme as in the Americas and European countries. Therefore, based on the climatic conditions in APAC, vendors would be required to design and develop products as per the country’s topographical conditions. Since the market in APAC is highly sensitive to price and customer sentiments, many vendors will have to strategically market their product under various schemes like coupons, discounts, or dynamic pricing strategies to augment sales during the forecast period.

Key vendors in this market are -

• Carrier
• Ecobee
• Emerson
• Energate
• Honeywell
• Nest
• Trane

Another prominent vendor in this market is Ingersoll-Rand plc.

Growth drivers, challenges, and upcoming trends: Smart thermostat

Technavio market research analysts have estimated upcoming trends, such as the recent increase in channel partnering, to boost market growth during the forecast period. Recently, it has been observed that numerous vendors in this market are increasingly focusing on expanding their market reach by entering into partnerships and tie-ups with smaller companies. For instance, HVAC service providers use the data collected from smart thermostats to calculate servicing requirements and to roll out predictive maintenance schedules. This recent increase in partnerships and tie-ups is expected to bolster product sales during the forecast period.

This report provides a number of factors contributing to the adoption, limitations, and opportunities of the smart thermostat market in APAC. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.

Key questions answered in the report include

• What will the market size and the growth rate be in 2019?
• What are the key factors driving the smart thermostat market in APAC?
• What are the key market trends impacting the growth of the smart thermostat market in APAC?
• What are the challenges to market growth?
• Who are the key vendors in the smart thermostat market in APAC?
• What are the market opportunities and threats faced by the vendors in the smart thermostat market in APAC?
• What are the key outcomes of the five forces analysis of the smart thermostat market in APAC?

Technavio also offers customization on reports based on specific client requirement.

Related reports

• Global Smart Thermostat 2015-2019
• Smart Thermostat Market in North America 2015-2019
• Global Smart Thermostats Market 2014-2018