Market Overview:
The global WiFi 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 energy conservation among consumers. In addition, the increasing penetration of smart homes is also contributing to the growth of this market. The global WiFi thermostats market can be segmented on the basis of type into battery-powered and hardwired WiFi thermostats. The battery-powered segment is expected to grow at a higher CAGR than the hardwired segment during the forecast period from 2018 to 2030. This can be attributed to their easy installation and portability, which makes them ideal for use in residential applications. On the basis of application,the global WiFi thermostatsmarket can be divided into residential and commercial applications.
Product Definition:
A WiFi thermostat is a type of thermostat that can be controlled using a wireless network. This type of thermostat can be used to control the temperature in a home or office building.
Battery-powered:
Battery-powered, also known as portable or hand crank devices are used to create energy for operating the equipment. The most common usage of battery-powered products is in power tools that have been designed for a specific application and need a corded connection. Battery-operated devices can be classified into two categories: those with an electric outlet and those without an electric outlet.
Hardwired:
Hardwired Thermostats are those which have an electric heating element or a heat pump installed, and the control mechanism is connected to the main electrical system of the home by means of a heavy-duty cord. The majority of these products use two-wire (red & black) power cords, and they plug directly into an electrical outlet. Some models may feature three- or four- wire power cords; however, such variants are rare in this category.
Application Insights:
The residential application segment dominated the global WiFi thermostats market in 2017. This can be attributed to growing demand for energy-efficient products, which are being adopted by consumers across the globe. Moreover, rising adoption of smart thermostats that offer advanced features such as remote monitoring and control is also driving growth. For instance, Honeywell International Inc., a U.S.-based multinational company provides various home comfort solutions including temperature control systems and security products to meet evolving customer requirements.
The commercial segment is expected to witness significant growth over the forecast period owing to increasing deployment of IoT devices in commercial spaces such as hotels and hospitals for remote monitoring and controlling purposes.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market with a CAGR of XX% from 2018 to 2030. This growth can be attributed to increasing number of smart homes in countries, such as China and Japan. Moreover, rising disposable income levels in these countries will drive the regional market further. Increasing penetration of internet connectivity through smartphones is another factor boosting the adoption of smart thermostats in this region. According to GSMA, it is estimated that there are 1.9 billion smartphone users worldwide by end 2017 (up from 1 billion at end 2016).
North America was valued at more than USD X million in 2017 and will expand further due to growing adoption by consumers for saving energy as well as convenience reasons owing to features like Away mode and Sleep mode enabled by Wi-Fi technology along with presence of prominent players operating across various industry verticals including home automation & IoT devices manufacturing companies such as Nest Labs Inc.; Google LLC; Honeywell International Inc.
Growth Factors:
- Increasing demand for energy-efficient devices: The global market for WiFi thermostats is expected to grow at a CAGR of more than 20% 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 WiFi thermostats: There is a growing awareness among consumers about the benefits of using WiFi thermostats, such as reducing energy consumption and saving money on utility bills. This is likely to boost the demand for WiFi thermostats in the coming years.
- Growing popularity of smart homes: The popularity of smart homes is another key factor that is expected to drive growth in the global market for WiFi thermostats during the forecast period. Smart homes are equipped with advanced features such as voice control, motion sensors, and automatic climate control, which make them more efficient and comfortable than traditional homes.
Scope Of The Report
Report Attributes
Report Details
Report Title
WiFi Thermostats Market Research Report
By Type
Battery-powered, Hardwired
By Application
Residential, Commercial
By Companies
Nest, Honeywell, Ecobee, Schneider Electric, Emerson, Lux Products, Carrier
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
241
Number of Tables & Figures
169
Customization Available
Yes, the report can be customized as per your need.
Global WiFi Thermostats Market Report Segments:
The global WiFi Thermostats market is segmented on the basis of:
Types
Battery-powered, Hardwired
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
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:
- Nest
- Honeywell
- Ecobee
- Schneider Electric
- Emerson
- Lux Products
- Carrier
Highlights of The WiFi 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:
- Battery-powered
- Hardwired
- By Application:
- Residential
- Commercial
- 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 WiFi 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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- 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?
WiFi thermostats are a type of smart home device that allows you to control your heating and cooling system using your smartphone or computer. They connect to the internet and allow you to remotely adjust the temperature in your home.
Some of the major players in the wifi thermostats market are Nest, Honeywell, Ecobee, Schneider Electric, Emerson, Lux Products, Carrier.
The wifi thermostats market is expected to register a CAGR of 10.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. WiFi Thermostats Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. WiFi Thermostats Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. WiFi Thermostats Market - Supply Chain
4.5. Global WiFi Thermostats Market Forecast
4.5.1. WiFi Thermostats Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. WiFi Thermostats Market Size (000 Units) and Y-o-Y Growth
4.5.3. WiFi Thermostats Market Absolute $ Opportunity
5. Global WiFi Thermostats Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. WiFi Thermostats Market Size and Volume Forecast by Type
5.3.1. Battery-powered
5.3.2. Hardwired
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global WiFi Thermostats Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. WiFi Thermostats Market Size and Volume Forecast by Application
6.3.1. Residential
6.3.2. Commercial
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global WiFi Thermostats Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. WiFi Thermostats Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global WiFi Thermostats Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. WiFi Thermostats Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global WiFi Thermostats Demand Share Forecast, 2019-2026
9. North America WiFi Thermostats Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America WiFi Thermostats Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America WiFi Thermostats Market Size and Volume Forecast by Application
9.4.1. Residential
9.4.2. Commercial
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America WiFi Thermostats Market Size and Volume Forecast by Type
9.7.1. Battery-powered
9.7.2. Hardwired
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America WiFi Thermostats Demand Share Forecast, 2019-2026
10. Latin America WiFi Thermostats Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America WiFi Thermostats Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America WiFi Thermostats Market Size and Volume Forecast by Application
10.4.1. Residential
10.4.2. Commercial
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America WiFi Thermostats Market Size and Volume Forecast by Type
10.7.1. Battery-powered
10.7.2. Hardwired
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America WiFi Thermostats Demand Share Forecast, 2019-2026
11. Europe WiFi Thermostats Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe WiFi Thermostats Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe WiFi Thermostats Market Size and Volume Forecast by Application
11.4.1. Residential
11.4.2. Commercial
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe WiFi Thermostats Market Size and Volume Forecast by Type
11.7.1. Battery-powered
11.7.2. Hardwired
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe WiFi Thermostats Demand Share, 2019-2026
12. Asia Pacific WiFi Thermostats Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific WiFi Thermostats Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific WiFi Thermostats Market Size and Volume Forecast by Application
12.4.1. Residential
12.4.2. Commercial
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific WiFi Thermostats Market Size and Volume Forecast by Type
12.7.1. Battery-powered
12.7.2. Hardwired
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific WiFi Thermostats Demand Share, 2019-2026
13. Middle East & Africa WiFi Thermostats Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa WiFi Thermostats Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa WiFi Thermostats Market Size and Volume Forecast by Application
13.4.1. Residential
13.4.2. Commercial
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa WiFi Thermostats Market Size and Volume Forecast by Type
13.7.1. Battery-powered
13.7.2. Hardwired
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa WiFi Thermostats Demand Share, 2019-2026
14. Competition Landscape
14.1. Global WiFi Thermostats Market: Market Share Analysis
14.2. WiFi Thermostats Distributors and Customers
14.3. WiFi Thermostats Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Nest
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Honeywell
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Ecobee
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Schneider Electric
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Emerson
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Lux Products
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Carrier
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
