Market Overview:
The global residential programmable thermostat market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for energy-efficient devices and the growing awareness about energy conservation among consumers. Additionally, technological advancements in programmable thermostats are also contributing to the growth of this market. The global residential programmable thermostat market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into WiFi, ZigBee, Bluetooth, and others. The WiFi segment accounted for a major share of this market in 2017 and is expected to continue its dominance during the forecast period owing to its high adoption rate among consumers due to its ease-of-use and connectivity features.
Product Definition:
A residential programmable thermostat is a device used to control the temperature of a home. It can be programmed to automatically adjust the temperature at different times of the day, depending on whether or not people are home. This can help save energy and money on heating and cooling costs.
WiFi:
WiFi, or the Wireless Fidelity is a wireless technology for communication that uses radio frequencies (RF) within the electromagnetic spectrum. It provides a connection and connectivity between devices using different networks; this includes computers, smartphones, tablets, access points and routers. The primary purpose of this technology is to wirelessly connect multiple devices in an office or home setting so that they can exchange data over short distances.
ZigBee:
ZigBee is a wireless protocol for communicating between devices. It was initially developed by Philips and Intel as a replacement for Bluetooth. ZigBee operates at frequencies between 2.4 GHz to 10 GHz with data rates of 1 Mbps to 3 Mbps. The technology has been adopted by several companies including, but not limited to, Honeywell, Ecobee, Emerson Network Power, and Schneider Electric among others which have commercialized products based on the standard in the market today.
Application Insights:
Single-family homes accounted for the largest share of over 70.0% in 2017 and is expected to continue leading over the forecast period. Rising adoption of energy-efficient products across single-family homes owing to their focus on cost saving as well as increasing comfort levels is anticipated to drive product demand in this segment. Furthermore, growing concerns regarding rising utility bills are projected to further spur product demand in this segment.
The apartment application segment is expected register a CAGR of XX% from 2018 to 2030 owing to increased awareness about energy conservation among apartment owners, coupled with an increase in number of smart buildings and complexes across various regions including North America and Europe Pacific which will enable programmable thermostat features through building management systems (BMS).
Increasing investments by governments around the world towards improving public transportation system such as metro rail networks.
Regional Analysis:
North America dominated the global residential programmable thermostat market in 2017. This can be attributed to the presence of a large number of manufacturers and developers in this region. Moreover, increasing demand for smart homes is also expected to drive regional growth over the forecast period. Asia Pacific is anticipated to witness significant growth over the next eight years owing to rising disposable income levels and changing lifestyle patterns among consumers, thereby driving demand for energy-efficient products such as programmable thermostats with features such as remote monitoring and control systems. Furthermore, government initiatives encouraging R&D activities are expected to fuel regional product demand in future years. For instance, The Energy Conservation Promotion Act 1992 (ECPA) established The Energy Conservation Centre under The National Development & Reform Commission (NDRC) which provides technical assistance on energy conservation measures including promotion of new building standards based on Passive House standard developed by German Passive House Institute (PHI).
Growth Factors:
- Increasing demand for energy-efficient devices: The global market for programmable thermostats is expected to grow at a CAGR of more than 9% from 2016 to 2024. This can be attributed to the increasing demand for energy-efficient devices across the world. Programmable thermostats help in reducing energy consumption by optimizing heating and cooling systems as per the requirements of the users.
- Rising awareness about environment conservation: There is an increasing awareness among people about environment conservation and its benefits. This has led to an increase in the adoption of programmable thermostats, which helps save energy and reduce greenhouse gas emissions.
- Technological advancements: The development of new technologies has helped in enhancing the features offered by programmable thermostats, thereby driving their growth globally. For instance, smart or Wi-Fi enabled programmable thermostats allow users to control their home’s temperature settings remotely using smartphones or tablets, thus providing added convenience and flexibility to them.
Scope Of The Report
Report Attributes
Report Details
Report Title
Residential Programmable Thermostat Market Research Report
By Type
WiFi, ZigBee, Bluetooth and Others
By Application
Single-family Home, Apartment
By Companies
Google Nest, Honeywell, EcoBee, Schneider Electric, Emerson, LUX/GEO, Carrier, Energate Inc., Tado GmbH, Control4, Netatmo, Hive Home, Trane, Johnston Controls
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
132
Number of Tables & Figures
93
Customization Available
Yes, the report can be customized as per your need.
Global Residential Programmable Thermostat Market Report Segments:
The global Residential Programmable Thermostat market is segmented on the basis of:
Types
WiFi, ZigBee, Bluetooth and Others
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
Single-family Home, Apartment
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:
- Google Nest
- Honeywell
- EcoBee
- Schneider Electric
- Emerson
- LUX/GEO
- Carrier
- Energate Inc.
- Tado GmbH
- Control4
- Netatmo
- Hive Home
- Trane
- Johnston Controls
Highlights of The Residential Programmable Thermostat 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:
- WiFi
- ZigBee
- Bluetooth and Others
- By Application:
- Single-family Home
- Apartment
- 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 Residential Programmable Thermostat 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?
A Residential Programmable Thermostat is a device that allows homeowners to control their home's temperature using an app or website. These thermostats typically come with pre-set temperatures for each room in the house, and allow users to adjust the temperature as needed. They are often used by people who want to save energy costs, or who have difficulty adjusting their heating and cooling systems manually.
Some of the key players operating in the residential programmable thermostat market are Google Nest, Honeywell, EcoBee, Schneider Electric, Emerson, LUX/GEO, Carrier, Energate Inc., Tado GmbH, Control4, Netatmo, Hive Home, Trane, Johnston Controls.
The residential programmable thermostat market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Residential Programmable Thermostat 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 Residential Programmable Thermostat Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Residential Programmable Thermostat 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 Residential Programmable Thermostat 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 Residential Programmable Thermostat Market Size & Forecast, 2020-2028
4.5.1 Residential Programmable Thermostat Market Size and Y-o-Y Growth
4.5.2 Residential Programmable Thermostat Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 WiFi
5.2.2 ZigBee
5.2.3 Bluetooth and Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Single-family Home
6.2.2 Apartment
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Residential Programmable Thermostat 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 Residential Programmable Thermostat 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 WiFi
9.6.2 ZigBee
9.6.3 Bluetooth and Others
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 Market Size Forecast by Applications
9.10.1 Single-family Home
9.10.2 Apartment
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 WiFi
10.6.2 ZigBee
10.6.3 Bluetooth and Others
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 Market Size Forecast by Applications
10.10.1 Single-family Home
10.10.2 Apartment
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 WiFi
11.6.2 ZigBee
11.6.3 Bluetooth and Others
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 Market Size Forecast by Applications
11.10.1 Single-family Home
11.10.2 Apartment
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 WiFi
12.6.2 ZigBee
12.6.3 Bluetooth and Others
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 Market Size Forecast by Applications
12.10.1 Single-family Home
12.10.2 Apartment
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 WiFi
13.6.2 ZigBee
13.6.3 Bluetooth and Others
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) Market Size Forecast by Applications
13.10.1 Single-family Home
13.10.2 Apartment
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 Residential Programmable Thermostat Market: Competitive Dashboard
14.2 Global Residential Programmable Thermostat Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Google Nest
14.3.2 Honeywell
14.3.3 EcoBee
14.3.4 Schneider Electric
14.3.5 Emerson
14.3.6 LUX/GEO
14.3.7 Carrier
14.3.8 Energate Inc.
14.3.9 Tado GmbH
14.3.10 Control4
14.3.11 Netatmo
14.3.12 Hive Home
14.3.13 Trane
14.3.14 Johnston Controls
