Market Overview:
The global connected 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 connected thermostats among consumers. The wired connected thermostats segment is expected to hold a major share of the global connected thermostats market during the forecast period, owing to its high efficiency and low cost as compared to wireless connected thermostats. However, with advancements in technology, wireless connectivity is becoming more popular among consumers due to its ease of use and portability. This is expected to lead to a higher growth rate for the wireless connected thermometers segment over the forecast period.
Product Definition:
A connected thermostat is a thermostat that can be controlled remotely, usually through a smartphone or computer. This allows users to change the temperature of their home without having to be there. Connected thermostats are often used to save energy, as they can be set to lower the temperature when no one is home and raise it again before people return.
Wired Connected Thermostats:
Wired connected thermostats are gaining popularity among consumers due to its easy installation and use. These devices have been around for quite some time but have gained significant traction in the last few years. The primary factor driving this market is increasing penetration of smart homes, especially in North America and Europe.
The major challenge faced by this market is the high cost of these devices as compared to their wireless counterparts which may hamper growth over the next six years.
Wireless Connected Thermostats:
A wireless connected thermostat is a type of smart thermostat that can be wirelessly connected to an HVAC controller, which allows the user to control the temperature using a mobile or desktop application. Some models may include pre-programmed settings for common room temperatures while other models allow customization of heating and cooling preferences. The increasing demand for energy efficiency and rising awareness regarding global warming has led to increased adoption in recent years.
Application Insights:
The electric kettle segment accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The product has a wide application scope in households as well as commercial places such as hotels, restaurants and hospitals. Furthermore, it can also be used to control other appliances such as air conditioner or microwave ovens by using the remote controller provided with connected thermostats.
The air conditioning segment is anticipated to register a significant CAGR of XX% from 2018 to 2030 owing to increasing urbanization leading to an increase in demand for residential & commercial buildings coupled with rising consumer preference for comfort temperature settings. Moreover, governments are taking initiatives regarding energy conservation by way of promoting awareness programs among consumers about adopting energy-efficient products including thermostats that help save electricity bills without compromising on convenience or functionality.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing region, owing to the increasing adoption of smart connected thermostats in countries such as China and Japan. The regional market is estimated to grow at a CAGR of XX% from 2018 to 2030. Increasing penetration of smart connected thermostats in commercial spaces such as hotels and hospitals will drive the regional demand for global connected thermostats market. Moreover, rising awareness regarding energy conservation among consumers will further propel product demand in future years.
The European region accounted for more than 25% share in 2017 owing to high acceptance levels towards advanced technologies amongst consumers and large scale adoption across several industries including hospitality sector, automotive industry, etcetera.
Growth Factors:
- Increasing demand for energy-efficient devices: The global market for connected thermostats is expected to grow at a CAGR of more than 25% from 2016 to 2020. This is due to the increasing demand for energy-efficient devices across the world.
- Rising awareness about the benefits of connected thermostats: There is a growing awareness among consumers about the benefits of using connected thermostats, such as reducing energy consumption and saving money on utility bills. This is driving the growth of the global market for connected thermostats.
- Growing popularity of smart homes: The popularity of smart homes is another key factor driving the growth of the global market for connected thermostats. Smart homes are equipped with advanced features that allow users to control various appliances, including heating and cooling systems, through a single device or app. This has made it easier and more convenient for consumers to manage their home environment and save on energy costs simultaneously.
Scope Of The Report
Report Attributes
Report Details
Report Title
Connected Thermostats Market Research Report
By Type
Wired Connected Thermostats, Wireless Connected Thermostats
By Application
Electric kettle, Air conditioning, Refrigerator, Microwave, Dishwasher, Water heater, Others
By Companies
DANFOSS, Siemens, Schneider Electric, Strix, Johnsoncontrols, HONEYWELL, saswell, Otter Controls, Jiujiang HengTong, FOLAND, DANFOSS, Jiu Long thermostat, Development Alliance Automatic, FSTB, Sunlight
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
187
Number of Tables & Figures
131
Customization Available
Yes, the report can be customized as per your need.
Global Connected Thermostats Market Report Segments:
The global Connected Thermostats market is segmented on the basis of:
Types
Wired Connected Thermostats, Wireless Connected Thermostats
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
Electric kettle, Air conditioning, Refrigerator, Microwave, Dishwasher, Water heater, 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:
- DANFOSS
- Siemens
- Schneider Electric
- Strix
- Johnsoncontrols
- HONEYWELL
- saswell
- Otter Controls
- Jiujiang HengTong
- FOLAND
- DANFOSS
- Jiu Long thermostat
- Development Alliance Automatic
- FSTB
- Sunlight
Highlights of The Connected 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:
- Wired Connected Thermostats
- Wireless Connected Thermostats
- By Application:
- Electric kettle
- Air conditioning
- Refrigerator
- Microwave
- Dishwasher
- Water heater
- 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 Connected 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?
Connected thermostats are devices that allow you to control your homeu2019s temperature from a smartphone or computer. They can be installed in places like the living room, bedroom, and kitchen, and they use sensors to detect when people are inside and adjust the temperature accordingly.
Some of the key players operating in the connected thermostats market are DANFOSS, Siemens, Schneider Electric, Strix, Johnsoncontrols, HONEYWELL, saswell, Otter Controls, Jiujiang HengTong, FOLAND, DANFOSS, Jiu Long thermostat, Development Alliance Automatic, FSTB, Sunlight.
The connected thermostats market is expected to register a CAGR of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Connected 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 Connected Thermostats Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Connected 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 Connected 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 Connected Thermostats Market Size & Forecast, 2018-2028
4.5.1 Connected Thermostats Market Size and Y-o-Y Growth
4.5.2 Connected Thermostats Market Absolute $ Opportunity
Chapter 5 Global Connected 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 Connected Thermostats Market Size Forecast by Type
5.2.1 Wired Connected Thermostats
5.2.2 Wireless Connected Thermostats
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Connected 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 Connected Thermostats Market Size Forecast by Applications
6.2.1 Electric kettle
6.2.2 Air conditioning
6.2.3 Refrigerator
6.2.4 Microwave
6.2.5 Dishwasher
6.2.6 Water heater
6.2.7 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Connected 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 Connected 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 Connected Thermostats Analysis and Forecast
9.1 Introduction
9.2 North America Connected 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 Connected Thermostats Market Size Forecast by Type
9.6.1 Wired Connected Thermostats
9.6.2 Wireless Connected Thermostats
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 Connected Thermostats Market Size Forecast by Applications
9.10.1 Electric kettle
9.10.2 Air conditioning
9.10.3 Refrigerator
9.10.4 Microwave
9.10.5 Dishwasher
9.10.6 Water heater
9.10.7 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 Connected Thermostats Analysis and Forecast
10.1 Introduction
10.2 Europe Connected 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 Connected Thermostats Market Size Forecast by Type
10.6.1 Wired Connected Thermostats
10.6.2 Wireless Connected Thermostats
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 Connected Thermostats Market Size Forecast by Applications
10.10.1 Electric kettle
10.10.2 Air conditioning
10.10.3 Refrigerator
10.10.4 Microwave
10.10.5 Dishwasher
10.10.6 Water heater
10.10.7 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 Connected Thermostats Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Connected 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 Connected Thermostats Market Size Forecast by Type
11.6.1 Wired Connected Thermostats
11.6.2 Wireless Connected Thermostats
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 Connected Thermostats Market Size Forecast by Applications
11.10.1 Electric kettle
11.10.2 Air conditioning
11.10.3 Refrigerator
11.10.4 Microwave
11.10.5 Dishwasher
11.10.6 Water heater
11.10.7 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 Connected Thermostats Analysis and Forecast
12.1 Introduction
12.2 Latin America Connected 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 Connected Thermostats Market Size Forecast by Type
12.6.1 Wired Connected Thermostats
12.6.2 Wireless Connected Thermostats
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 Connected Thermostats Market Size Forecast by Applications
12.10.1 Electric kettle
12.10.2 Air conditioning
12.10.3 Refrigerator
12.10.4 Microwave
12.10.5 Dishwasher
12.10.6 Water heater
12.10.7 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) Connected Thermostats Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Connected 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) Connected Thermostats Market Size Forecast by Type
13.6.1 Wired Connected Thermostats
13.6.2 Wireless Connected Thermostats
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) Connected Thermostats Market Size Forecast by Applications
13.10.1 Electric kettle
13.10.2 Air conditioning
13.10.3 Refrigerator
13.10.4 Microwave
13.10.5 Dishwasher
13.10.6 Water heater
13.10.7 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 Connected Thermostats Market: Competitive Dashboard
14.2 Global Connected Thermostats Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 DANFOSS
14.3.2 Siemens
14.3.3 Schneider Electric
14.3.4 Strix
14.3.5 Johnsoncontrols
14.3.6 HONEYWELL
14.3.7 saswell
14.3.8 Otter Controls
14.3.9 Jiujiang HengTong
14.3.10 FOLAND
14.3.11 DANFOSS
14.3.12 Jiu Long thermostat
14.3.13 Development Alliance Automatic
14.3.14 FSTB
14.3.15 Sunlight
