Market Overview:
The global smart programmable thermostat 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 smart programmable thermostats. The global smart programmable thermostat market can be segmented on the basis of type, application, and region. On the basis of type, the market can be divided into WiFi, ZigBee, Bluetooth, and others. The WiFi segment is expected to hold a major share in this market due to its high adoption rate among consumers. On the basis of application, residential applications are expected to dominate this market owing to their growing popularity among homeowners for controlling energy consumption in their homes.
Product Definition:
A Smart Programmable Thermostat is a thermostat that can be programmed to automatically adjust the temperature of a home or office based on a pre-determined schedule. This can help save energy and money by reducing the need for manual adjustments.
WiFi:
WiFi, or Wireless Fidelity is a wireless technology for communication between devices. It provides a connection and platform to support various applications such as Internet, email, personalization of services and data sharing. The primary function of WiFi is to allow the transfer of user-specific information from one device to another without cables. It allows computers and mobile phones to connect with each other and access the internet using radio frequencies instead of cables for establishing an interface between different devices connected through the network.
ZigBee:
ZigBee is a wireless protocol for communicating that works on the 2.4 GHz band. It uses small radio-frequency tags embedded in devices to communicate with other similar tags nearby. These devices are used for applications such as monitoring and control of home appliances, lighting, and security among others.
Application Insights:
The residential segment accounted for the largest share of over 70% in 2017. The growing need for energy-efficient products is expected to drive the demand from this segment. Furthermore, rising concerns regarding rising electricity bills and increasing carbon emissions are anticipated to fuel the product demand from this application segment over the forecast period.
Commercial applications include hospitals, hotels, offices and other commercial buildings etc.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market with a CAGR of XX% from 2018 to 2030. The region has been witnessing rapid growth in smart home and IoT adoption, which will drive the demand for programmable thermostats in commercial and residential applications. Moreover, increasing investments by governments of various countries such as China and India on improving energy infrastructure is anticipated to propel industry growth over the forecast period.
The European market was valued at USD X billion in 2017 owing to early adoption of technologies across several industries including HVAC & refrigeration, automotive, building automation etc., thereby creating lucrative opportunities for industry players operating across this region. Furthermore, rising awareness regarding carbon emission reduction through improved energy management solutions will further fuel product demand over the next eight years (until 2030).
Growth Factors:
- Increasing demand for energy-efficient devices: The global market for smart programmable thermostats is expected to grow at a CAGR of more than 15% from 2016 to 2020. This growth can be attributed to the increasing demand for energy-efficient devices across the world.
- Rising awareness about the benefits of using smart programmable thermostats: There is a growing awareness among consumers about the benefits of using smart programmable thermostats, such as reducing energy consumption and saving money on utility bills. This is likely to boost the demand for these devices in the coming years.
- Growing popularity of home automation: Home automation is becoming increasingly popular, with more and more people opting for automated solutions for their homes. Smart programmable thermostats are an important part of home automation and are likely to witness strong growth in this market in the coming years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Programmable Thermostat Market Research Report
By Type
WiFi, ZigBee, Bluetooth and Others
By Application
Residential, Commercial, Industrial Factories
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
191
Number of Tables & Figures
134
Customization Available
Yes, the report can be customized as per your need.
Global Smart Programmable Thermostat Market Report Segments:
The global Smart 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
Residential, Commercial, Industrial Factories
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 Smart 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:
- Residential
- Commercial
- Industrial Factories
- 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 Smart 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.
How you may use our products:
- Correctly Positioning New Products
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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 Smart Programmable Thermostat is a thermostat that can be controlled through an app or website. This type of thermostat allows users to set temperature preferences, schedule automatic changes, and receive real-time notifications when temperatures reach a certain threshold. These devices can also be connected to other smart home devices, allowing for more comprehensive temperature control.
Some of the major companies in the smart 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 smart programmable thermostat 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 Smart 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 Smart Programmable Thermostat Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Smart 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 Smart 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 Smart Programmable Thermostat Market Size & Forecast, 2020-2028
4.5.1 Smart Programmable Thermostat Market Size and Y-o-Y Growth
4.5.2 Smart 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 Residential
6.2.2 Commercial
6.2.3 Industrial Factories
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Smart 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 Smart 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 Residential
9.10.2 Commercial
9.10.3 Industrial Factories
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 Residential
10.10.2 Commercial
10.10.3 Industrial Factories
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 Residential
11.10.2 Commercial
11.10.3 Industrial Factories
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 Residential
12.10.2 Commercial
12.10.3 Industrial Factories
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 Residential
13.10.2 Commercial
13.10.3 Industrial Factories
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 Smart Programmable Thermostat Market: Competitive Dashboard
14.2 Global Smart 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
