Market Overview:
The global commercial smart thermostats market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy-efficient devices and the growing awareness about the benefits of using commercial smart thermostats. The global commercial smart thermostats market is segmented on the basis of type, application, and region. On the basis of type, it is divided into Wi-Fi enabled and non-Wi-Fi enabled devices. The Wi-Fi enabled segment is expected to grow at a higher CAGR during the forecast period as these devices offer enhanced features such as remote monitoring and control over temperature settings through mobile applications or web browsers. By application, it is classified into hotels, offices, fitness centers, and others (including hospitals, schools/universities). Among these applications segments, hotels are expected to account for a larger share in terms of revenue in 2018 owing to increased adoption by hospitality sector players worldwide for energy savings purposes.
Product Definition:
A commercial smart thermostat is a digital thermostat that can be controlled remotely, typically through a mobile app. Smart thermostats can save businesses money by reducing energy usage and optimizing heating and cooling schedules. They are often used in conjunction with building automation systems to provide greater control over HVAC systems.
With Wifi:
With the growing demand for wireless connectivity in thermostats, it is expected that this technology will soon be adopted by a large number of end-use industries. The major factor driving the market growth is increasing penetration of internet and mobile phones along with rising awareness regarding smart products. Additionally, factors such as rapid urbanization and changing consumer preferences are also contributing to market growth.
Without Wifi:
The global without wifi thermostats market is expected to witness significant growth over the forecast period. The major factor that propels the growth of this industry includes increasing need for energy-efficient products across all sectors including residential, commercial and industrial. Moreover, rising awareness regarding environment conservation further fuels the demand for these devices.
Moreover, rapid urbanization in developing countries including China.
Application Insights:
The hotel application segment dominated the global commercial smart thermostats market, accounting for over 30% of the revenue share in 2017. The segment is expected to witness significant growth over the forecast period owing to rising demand for energy-efficient and convenient heating and cooling systems in hotels. Furthermore, growing investments by hotel chains such as Hyatt Corporation; Marriot International, Inc.; Accor S.A.; and IHG Group, Inc., among others are expected to propel industry expansion over the coming years.
The office application segment accounted for a considerable share of 21% in 2017 due to increasing demand from large commercial buildings such as corporate offices or government offices for installing these devices that help save on electricity bills along with improving building infrastructure by reducing air conditioning or heating requirements during summer or winter seasons respectively. These products also offer remote monitoring features that allow building managers access through mobile apps at any time from anywhere across multiple floors of a building which further enhances their utility within office buildings globally.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to witness a CAGR of XX% during the forecast period. This growth can be attributed to increasing awareness about smart thermostats, growing penetration of internet-enabled devices and rising demand for energy-efficient products in countries such as the U.S., Canada, and Mexico.
Asia Pacific is expected to emerge with fastest CAGR during the forecast period owing to rapid urbanization coupled with increasing population and consumer disposable income levels in emerging economies such as China and India.
Growth Factors:
- Increasing demand for energy-efficient devices: The global commercial smart thermostats market is expected to grow at a CAGR of over 16% during the forecast period. This can be attributed to the increasing demand for energy-efficient devices across the globe.
- Rising awareness about benefits of using smart thermostats: There is a growing awareness among consumers about the benefits of using commercial smart thermostats, which is expected to drive market growth during the forecast period.
- Growing popularity of IoT and connected homes: The popularity of IoT and connected homes is another key factor that is expected to fuel market growth in the coming years. Smart thermostats are an important part of these ecosystems, and their popularity is only going to increase in future.
- Proliferation of digital assistants: Digital assistants such as Amazon’s Alexa and Google Assistant are becoming increasingly popular, and this is likely to spur demand for commercial smart thermostats in future as they offer voice control capabilities with these assistants.
Scope Of The Report
Report Attributes
Report Details
Report Title
Commercial Smart Thermostats Market Research Report
By Type
With Wifi, Without Wifi
By Application
Hotel, Office, Fitness Center, Others
By Companies
Alledio, Emerson, EcoBee, Bosch, Lennox International Inc, Alarm.com Inc, Schneider Electric, Siemens AG, Honeywell, Johnson Controls PLC, Energate, Carrier, Control4, 75F
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
174
Number of Tables & Figures
122
Customization Available
Yes, the report can be customized as per your need.
Global Commercial Smart Thermostats Market Report Segments:
The global Commercial Smart Thermostats market is segmented on the basis of:
Types
With Wifi, Without Wifi
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hotel, Office, Fitness Center, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Alledio
- Emerson
- EcoBee
- Bosch
- Lennox International Inc
- Alarm.com Inc
- Schneider Electric
- Siemens AG
- Honeywell
- Johnson Controls PLC
- Energate
- Carrier
- Control4
- 75F
Highlights of The Commercial Smart Thermostats Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- With Wifi
- Without Wifi
- By Application:
- Hotel
- Office
- Fitness Center
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Commercial Smart Thermostats Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Commercial Smart Thermostats are a type of smart home thermostat that can be used in commercial settings. These thermostats typically have more features than typical residential smart thermostats, including support for scheduling and automatic temperature adjustments. They may also include features like remote monitoring and management capabilities.
Some of the key players operating in the commercial smart thermostats market are Alledio, Emerson, EcoBee, Bosch, Lennox International Inc, Alarm.com Inc, Schneider Electric, Siemens AG, Honeywell, Johnson Controls PLC, Energate, Carrier, Control4, 75F.
The commercial smart thermostats market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Commercial Smart Thermostats Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Commercial Smart Thermostats Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Commercial Smart Thermostats Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Commercial Smart Thermostats Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Commercial Smart Thermostats Market Size & Forecast, 2018-2028
4.5.1 Commercial Smart Thermostats Market Size and Y-o-Y Growth
4.5.2 Commercial Smart Thermostats Market Absolute $ Opportunity
Chapter 5 Global Commercial Smart Thermostats Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Commercial Smart Thermostats Market Size Forecast by Type
5.2.1 With Wifi
5.2.2 Without Wifi
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Commercial Smart Thermostats Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Commercial Smart Thermostats Market Size Forecast by Applications
6.2.1 Hotel
6.2.2 Office
6.2.3 Fitness Center
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Commercial Smart Thermostats Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Commercial Smart Thermostats Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Commercial Smart Thermostats Analysis and Forecast
9.1 Introduction
9.2 North America Commercial Smart Thermostats Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Commercial Smart Thermostats Market Size Forecast by Type
9.6.1 With Wifi
9.6.2 Without Wifi
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Commercial Smart Thermostats Market Size Forecast by Applications
9.10.1 Hotel
9.10.2 Office
9.10.3 Fitness Center
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Commercial Smart Thermostats Analysis and Forecast
10.1 Introduction
10.2 Europe Commercial Smart Thermostats Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Commercial Smart Thermostats Market Size Forecast by Type
10.6.1 With Wifi
10.6.2 Without Wifi
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Commercial Smart Thermostats Market Size Forecast by Applications
10.10.1 Hotel
10.10.2 Office
10.10.3 Fitness Center
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Commercial Smart Thermostats Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Commercial Smart Thermostats Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Commercial Smart Thermostats Market Size Forecast by Type
11.6.1 With Wifi
11.6.2 Without Wifi
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Commercial Smart Thermostats Market Size Forecast by Applications
11.10.1 Hotel
11.10.2 Office
11.10.3 Fitness Center
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Commercial Smart Thermostats Analysis and Forecast
12.1 Introduction
12.2 Latin America Commercial Smart Thermostats Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Commercial Smart Thermostats Market Size Forecast by Type
12.6.1 With Wifi
12.6.2 Without Wifi
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Commercial Smart Thermostats Market Size Forecast by Applications
12.10.1 Hotel
12.10.2 Office
12.10.3 Fitness Center
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Commercial Smart Thermostats Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Commercial Smart Thermostats Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Commercial Smart Thermostats Market Size Forecast by Type
13.6.1 With Wifi
13.6.2 Without Wifi
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Commercial Smart Thermostats Market Size Forecast by Applications
13.10.1 Hotel
13.10.2 Office
13.10.3 Fitness Center
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Commercial Smart Thermostats Market: Competitive Dashboard
14.2 Global Commercial Smart Thermostats Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Alledio
14.3.2 Emerson
14.3.3 EcoBee
14.3.4 Bosch
14.3.5 Lennox International Inc
14.3.6 Alarm.com Inc
14.3.7 Schneider Electric
14.3.8 Siemens AG
14.3.9 Honeywell
14.3.10 Johnson Controls PLC
14.3.11 Energate
14.3.12 Carrier
14.3.13 Control4
14.3.14 75F
