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Smart Thermostats Market by Technology and Geography - Forecast and Analysis 2022-2026

  • Published: Mar 2022
  • Pages: 146
  • SKU: IRTNTR72480
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The smart thermostats market share is expected to increase by USD 4.11 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 19.81%.

This smart thermostats market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers smart thermostats market segmentation by technology (Wi-Fi, ZigBee, and others) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The smart thermostats market report also offers information on several market vendors, including Alphabet Inc., Carrier Global Corp., Centrica Plc, Computime Group Ltd., Control4 Corp., ecobee Inc., EcoFactor Inc., Emerson Electric Co., GridPoint Inc., Honeywell International Inc., Johnson Controls International Plc, Legrand SA, NETATMO SAS, Nortek Inc., Radio Thermostat Co. of America, Robert Bosch GmbH, Robertshaw Controls Co., Schneider Electric SE, tado GmbH, and Venstar Inc. among others.

What will the Smart Thermostats Market Size be During the Forecast Period?

Smart Thermostats Market Size

Download the Free Report Sample to Unlock the Smart Thermostats Market Size for the Forecast Period and Other Important Statistics

 

Smart Thermostats Market: Key Drivers, Trends, and Challenges

The growth in the number of HVAC equipment users is notably driving the smart thermostats market growth, although factors such as high initial prices affect the demand for smart thermostats may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the smart thermostats industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Smart Thermostats Market Driver

The growth in the number of HVAC equipment users is one of the key drivers supporting the smart thermostats market growth. HVAC systems are being increasingly adopted globally for their energy efficiency. With the help of heating and air conditioning equipment, the temperature can be maintained within a household. Smart thermostats as a part of the HVAC system helps in monitoring and controlling the temperature from remote locations, and it turns on the other HVAC system parts to achieve the desired temperature. Moreover, the construction industry grew by more than 10% during 2016-2019. Similarly, the US is witnessing steady growth in the construction industry. Consumers have become highly conscious of energy costs and the conservation of energy. Hence, they prefer investing in technology that aids in reducing costs. Such factors are expected to increase the demand for smart thermostats, which, in turn, will drive the growth of the market during the forecast period.

Key Smart Thermostats Market Trend

Increasing focus on integrated building management systems is one of the key trends contributing to the smart thermostats market growth. For instance, the integration of lighting systems and HVAC systems in buildings under a single platform reduces energy consumption and improves the efficiency of building management systems. Such integration helps in regulating the internal building environment in terms of temperature, humidity, and light. The same sensor can be used to adjust and control both lighting and temperature in a building according to the occupancy. The sensor can regulate and shut off one or both of the systems if the occupancy level drops down below a certain cutoff. Thus, the adoption of such advances will have a positive impact on the global smart thermostats market in the near future.

Key Smart Thermostats Market Challenge

The high initial prices affecting the demand for smart thermostats is one of the factors hindering the smart thermostats market growth. Most of the thermostats offered by major vendors such as Nest Labs, Honeywell International, and ecobee Inc. are the do-it-yourself (DIY) type, which poses a challenge to most consumers. Thus, it leads to the need to hire professionals to install the thermostats, thereby resulting in additional costs. Therefore, the high initial cost of smart thermostats and the costs incurred in their installation discourage many consumers from opting for them. On the other hand, traditional thermostats cost up to $50, which is lower than smart thermostats. Therefore, the high cost of smart thermostats may slow down the market penetration rate, which, in turn, will negatively impact the growth of the market during the forecast period.

This smart thermostats market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global smart thermostats market as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the smart thermostats market during the forecast period.

Who are the Major Smart Thermostats Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Alphabet Inc.
  • Carrier Global Corp.
  • Centrica Plc
  • Computime Group Ltd.
  • Control4 Corp.
  • ecobee Inc.
  • EcoFactor Inc.
  • Emerson Electric Co.
  • GridPoint Inc.
  • Honeywell International Inc.
  • Johnson Controls International Plc
  • Legrand SA
  • NETATMO SAS
  • Nortek Inc.
  • Radio Thermostat Co. of America
  • Robert Bosch GmbH
  • Robertshaw Controls Co.
  • Schneider Electric SE
  • tado GmbH
  • Venstar Inc.

 

This statistical study of the smart thermostats market encompasses successful business strategies deployed by the key vendors. The smart thermostats market is fragmented and the vendors are deploying growth strategies such as quality, features, functionalities, and services to compete in the market.

Product Insights and News

  • Alphabet Inc. - Under the google services segment, the company includes products and services such as Google Ads, Android, Chrome, Google Maps, Google Play, Search, YouTube and hardware. 
  • Alphabet Inc - The company offers Nest Learning Thermostat that is the first thermostat to get Energy star certificate. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The smart thermostats market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Smart Thermostats Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the smart thermostats market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Smart Thermostats Market?

Smart Thermostats Market Market segmentation by region

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53% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for smart thermostats market in North America. Market growth in this region will be slower than the growth of the market in APAC and South America.

The growth in the residential and commercial construction sectors will facilitate the smart thermostats market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the market in North America witnessed a temporary decline due to the COVID-19 outbreak. However, the initiation of vaccination drives led to the lifting of lockdowns and the resumption of end-user activities, which helped the market to recover in 2021. Moreover, a rise in new smart home projects will drive the demand for smart thermostats in this region during the forecast period.

What are the Revenue-generating Technology Segments in the Smart Thermostats Market?

Smart Thermostats Market Segmentation

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The smart thermostats market share growth by the Wi-Fi segment will be significant during the forecast period. Wi-Fi technology is one of the most common technologies used in smart thermostats. A Wi-Fi-based thermostat is effective in reducing the energy consumption of a building. The Wi-Fi-based smart thermostat can automatically manage its operations and learn user preferences. Such smart thermostats can also be integrated with the home security system and smoke and carbon monoxide detectors. Such factors will positively impact the growth of the segment during the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the smart thermostats market size and actionable market insights on post COVID-19 impact on each segment.

 

Smart Thermostats Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 19.81%

Market growth 2022-2026

$ 4.11 billion

Market structure

Fragmented

YoY growth (%)

19.55

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 53%

Key consumer countries

US, Canada, Mexico, China, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Alphabet Inc., Carrier Global Corp., Centrica Plc, Computime Group Ltd., Control4 Corp., ecobee Inc., EcoFactor Inc., Emerson Electric Co., GridPoint Inc., Honeywell International Inc., Johnson Controls International Plc, Legrand SA, NETATMO SAS, Nortek Inc., Radio Thermostat Co. of America, Robert Bosch GmbH, Robertshaw Controls Co., Schneider Electric SE, tado GmbH, and Venstar Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Smart Thermostats Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive smart thermostats market growth during the next five years
  • Precise estimation of the smart thermostats market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the smart thermostats industry across North America, Europe, APAC, Middle East and Africa, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of smart thermostats market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Technology
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Technology

    • 5.1 Market segments
      • Exhibit 24: Chart on Technology - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Technology - Market share 2021-2026 (%)
    • 5.2 Comparison by Technology
      • Exhibit 26: Chart on Comparison by Technology
      • Exhibit 27: Data Table on Comparison by Technology
    • 5.3 Wi-fi - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Wi-fi - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Wi-fi - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Wi-fi - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Wi-fi - Year-over-year growth 2021-2026 (%)
    • 5.4 ZigBee - Market size and forecast 2021-2026
      • Exhibit 32: Chart on ZigBee - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on ZigBee - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on ZigBee - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on ZigBee - Year-over-year growth 2021-2026 (%)
    • 5.5 Others - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by Technology
      • Exhibit 40: Market opportunity by Technology ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 Canada - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 China - Market size and forecast 2021-2026
      • Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.12 Mexico - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Mexico - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on Mexico - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on Mexico - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Mexico - Year-over-year growth 2021-2026 (%)
    • 7.13 UK - Market size and forecast 2021-2026
      • Exhibit 86: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 87: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 88: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.14 Market opportunity by geography
      • Exhibit 90: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 91: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 93: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 94: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 95: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 96: Matrix on vendor position and classification
            • 10.3 Alphabet Inc.
              • Exhibit 97: Alphabet Inc. - Overview
              • Exhibit 98: Alphabet Inc. - Business segments
              • Exhibit 99: Alphabet Inc. - Key news
              • Exhibit 100: Alphabet Inc. - Key offerings
              • Exhibit 101: Alphabet Inc. - Segment focus
            • 10.4 Centrica Plc
              • Exhibit 102: Centrica Plc - Overview
              • Exhibit 103: Centrica Plc - Business segments
              • Exhibit 104: Centrica Plc - Key news
              • Exhibit 105: Centrica Plc - Key offerings
              • Exhibit 106: Centrica Plc - Segment focus
            • 10.5 Computime Group Ltd.
              • Exhibit 107: Computime Group Ltd. - Overview
              • Exhibit 108: Computime Group Ltd. - Business segments
              • Exhibit 109: Computime Group Ltd. - Key offerings
              • Exhibit 110: Computime Group Ltd. - Segment focus
            • 10.6 ecobee Inc.
              • Exhibit 111: ecobee Inc. - Overview
              • Exhibit 112: ecobee Inc. - Product / Service
              • Exhibit 113: ecobee Inc. - Key offerings
            • 10.7 EcoFactor Inc.
              • Exhibit 114: EcoFactor Inc. - Overview
              • Exhibit 115: EcoFactor Inc. - Product / Service
              • Exhibit 116: EcoFactor Inc. - Key offerings
            • 10.8 Emerson Electric Co.
              • Exhibit 117: Emerson Electric Co. - Overview
              • Exhibit 118: Emerson Electric Co. - Business segments
              • Exhibit 119: Emerson Electric Co. - Key news
              • Exhibit 120: Emerson Electric Co. - Key offerings
              • Exhibit 121: Emerson Electric Co. - Segment focus
            • 10.9 GridPoint Inc.
              • Exhibit 122: GridPoint Inc. - Overview
              • Exhibit 123: GridPoint Inc. - Product / Service
              • Exhibit 124: GridPoint Inc. - Key offerings
            • 10.10 Honeywell International Inc.
              • Exhibit 125: Honeywell International Inc. - Overview
              • Exhibit 126: Honeywell International Inc. - Business segments
              • Exhibit 127: Honeywell International Inc. - Key news
              • Exhibit 128: Honeywell International Inc. - Key offerings
              • Exhibit 129: Honeywell International Inc. - Segment focus
            • 10.11 Johnson Controls International Plc
              • Exhibit 130: Johnson Controls International Plc - Overview
              • Exhibit 131: Johnson Controls International Plc - Business segments
              • Exhibit 132: Johnson Controls International Plc - Key news
              • Exhibit 133: Johnson Controls International Plc - Key offerings
              • Exhibit 134: Johnson Controls International Plc - Segment focus
            • 10.12 Robert Bosch GmbH
              • Exhibit 135: Robert Bosch GmbH - Overview
              • Exhibit 136: Robert Bosch GmbH - Business segments
              • Exhibit 137: Robert Bosch GmbH - Key news
              • Exhibit 138: Robert Bosch GmbH - Key offerings
              • Exhibit 139: Robert Bosch GmbH - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 140: Inclusions checklist
                • Exhibit 141: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 142: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 143: Research methodology
                • Exhibit 144: Validation techniques employed for market sizing
                • Exhibit 145: Information sources
              • 11.5 List of abbreviations
                • Exhibit 146: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Smart Thermostats market growth will increase by $4111.13 million during 2022-2026.
              The smart thermostats market is expected to grow at a CAGR of 19.81% during 2022-2026.
              Technavio has segmented the smart thermostats market by technology (Wi-fi, ZigBee, and Others) and geographic (North America, Europe, APAC, Middle East and Africa, and South America).
              Alphabet Inc., Carrier Global Corp., Centrica Plc, Computime Group Ltd., Control4 Corp., ecobee Inc., EcoFactor Inc., Emerson Electric Co., GridPoint Inc., Honeywell International Inc., Johnson Controls International Plc, Legrand SA, NETATMO SAS, Nortek Inc., Radio Thermostat Co. of America, Robert Bosch GmbH, Robertshaw Controls Co., Schneider Electric SE, tado GmbH, Venstar Inc. are a few of the key vendors in the smart thermostats market.
              North America will register the highest growth rate of 53.11% among the other regions. Therefore, the smart thermostats market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • Canada
              • Mexico
              • China
              • Germany
              • UK
              The key factors driving the smart thermostats market growth are:
              • Growth in the number of HVAC equipment users
              • Increasing focus on integrated building management systems
              The smart thermostats market vendors should focus on grabbing business opportunities from the wi-fi segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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              • Five-force market analysis

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