Market Overview:
The global wireless smart 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 wireless smart thermostats. Based on type, the global wireless smart thermostat market can be segmented into display, temperature sensor, humidity sensor, motion sensor, and others. Display-based wireless smart thermostats are expected to dominate this market during the forecast period owing to their high adoption rates across different applications such as residential, office building, educational institution, industrial building, retail store etc. Temperature sensors are also expected to witness high adoption rates due their ability to monitor and control room temperatures accurately. Based on application type, residential applications are estimated account for majority of share in terms of revenue in 2018 followed by office buildings and other commercial buildings segments respectively.
Product Definition:
A wireless smart thermostat is a device that allows you to control the temperature of your home remotely using a mobile app or web-based platform. Wireless smart thermostats are important because they can help you save money on your energy bills by allowing you to adjust the temperature of your home when you're not there.
Display:
Display is an important component in wireless smart thermostat market as it helps to understand the condition of environment around. It also helps to change the setting accordingly. In addition, display acts as a gateway for other devices and plays an important role in providing information about its surroundings to users.
Temperature Sensor:
A temperature sensor is a device that generates and detects signals based on the temperature. These sensors are used in various applications such as smoke detectors, fire alarms, water leak detectors, portable baby monitors among others. The increasing demand for wireless products has led to the introduction of smart or intelligent sensors which can be connected to other devices over a wireless network.
Application Insights:
The residential segment dominated the global wireless smart thermostat market in 2017 and is expected to continue its dominance over the forecast period. This can be attributed to rising demand for energy-efficient products, which have a positive impact on the environment. Moreover, these devices help consumers control their energy bills by reducing electricity consumption. The growing trend of home automation has also paved way for advanced smart thermostats that are compatible with Z-Wave and ZigBee protocols. These devices are developed specifically for use within homes and offer features such as remote monitoring, scheduling functions, temperature control settings along with Wi-Fi connectivity.
The office building segment is expected to register a significant CAGR of XX% from 2018 to 2030 owing to increasing adoption of IoT technologies across large commercial buildings worldwide. Furthermore, companies such as Honeywell International Inc., ADT LLC., Sensible Energy Ltd., DomaIQ Ltd., ecobee Inc.
Regional Analysis:
The Asia Pacific regional market accounted for the largest share in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing rapid urbanization, which has led to an increasing number of residential buildings as well as industrial and commercial complexes. This trend is projected to drive the demand for smart thermostats over the forecast period. Moreover, rising disposable income levels are anticipated to fuel product adoption across all segments in this region.
North America was estimated to be a significant contributor in terms of revenue generation owing primarilyto its large corporate sector that makes use of these devices for temperature-controlled ventilation systems within offices and factories among othersites.
Growth Factors:
- Increasing demand for energy-efficient devices: The global market for wireless smart thermostats is expected to grow at a CAGR of more than 25% 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 wireless smart thermostats: There is a growing awareness among consumers about the benefits of using wireless smart thermostats, such as improved comfort, reduced energy bills, and enhanced home security. This is likely to boost the demand for these devices in the coming years.
- Growing popularity of connected homes: The popularity of connected homes is another major factor that is expected to drive growth in the global market for wireless smart thermostats over the next few years. With an increasing number of people opting for connected homes, there will be a corresponding increase in demand for devices such as wireless smart thermostats that offer enhanced convenience and connectivity features.
Scope Of The Report
Report Attributes
Report Details
Report Title
Wireless Smart Thermostat Market Research Report
By Type
Display, Temperature Sensor, Humidity Sensor, Motion Sensor, Others
By Application
Residential, Office Building, Educational Institution, Industrial Building, Retail, Hospitality, Healthcare
By Companies
Nest Labs (U.S.), Honeywell international (U.S.), Ecobee (Canada), Schneider Electric SE (France), Emerson Electric Co. (U.S.), Tado (Germany), Control4 Corporation (U.S.), Ingersoll Rand (Ireland), Carrier Corporation (U.S.), Nortek, Inc. (France)
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
236
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Wireless Smart Thermostat Market Report Segments:
The global Wireless Smart Thermostat market is segmented on the basis of:
Types
Display, Temperature Sensor, Humidity Sensor, Motion Sensor, 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, Office Building, Educational Institution, Industrial Building, Retail, Hospitality, Healthcare
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 Labs (U.S.)
- Honeywell international (U.S.)
- Ecobee (Canada)
- Schneider Electric SE (France)
- Emerson Electric Co. (U.S.)
- Tado (Germany)
- Control4 Corporation (U.S.)
- Ingersoll Rand (Ireland)
- Carrier Corporation (U.S.)
- Nortek, Inc. (France)
Highlights of The Wireless Smart 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:
- Display
- Temperature Sensor
- Humidity Sensor
- Motion Sensor
- Others
- By Application:
- Residential
- Office Building
- Educational Institution
- Industrial Building
- Retail
- Hospitality
- Healthcare
- 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 Wireless Smart 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 Wireless Smart Thermostat is a type of thermostat that uses wireless technology to connect to the internet. This allows the thermostat to receive updates and alerts from apps or websites, and make changes based on those updates. These types of thermostats are often more advanced than traditional thermostats, and can be used to control other devices in your home such as lights or appliances.
Some of the major players in the wireless smart thermostat market are Nest Labs (U.S.), Honeywell international (U.S.), Ecobee (Canada), Schneider Electric SE (France), Emerson Electric Co. (U.S.), Tado (Germany), Control4 Corporation (U.S.), Ingersoll Rand (Ireland), Carrier Corporation (U.S.), Nortek, Inc. (France).
The wireless smart thermostat market is expected to register a CAGR of 10.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Wireless Smart Thermostat 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. Wireless Smart Thermostat Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Wireless Smart Thermostat Market - Supply Chain
4.5. Global Wireless Smart Thermostat Market Forecast
4.5.1. Wireless Smart Thermostat Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Wireless Smart Thermostat Market Size (000 Units) and Y-o-Y Growth
4.5.3. Wireless Smart Thermostat Market Absolute $ Opportunity
5. Global Wireless Smart Thermostat 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. Wireless Smart Thermostat Market Size and Volume Forecast by Type
5.3.1. Display
5.3.2. Temperature Sensor
5.3.3. Humidity Sensor
5.3.4. Motion Sensor
5.3.5. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Wireless Smart Thermostat 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. Wireless Smart Thermostat Market Size and Volume Forecast by Application
6.3.1. Residential
6.3.2. Office Building
6.3.3. Educational Institution
6.3.4. Industrial Building
6.3.5. Retail
6.3.6. Hospitality
6.3.7. Healthcare
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Wireless Smart Thermostat 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. Wireless Smart Thermostat 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 Wireless Smart Thermostat 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. Wireless Smart Thermostat 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 Wireless Smart Thermostat Demand Share Forecast, 2019-2026
9. North America Wireless Smart Thermostat 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 Wireless Smart Thermostat 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 Wireless Smart Thermostat Market Size and Volume Forecast by Application
9.4.1. Residential
9.4.2. Office Building
9.4.3. Educational Institution
9.4.4. Industrial Building
9.4.5. Retail
9.4.6. Hospitality
9.4.7. Healthcare
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Wireless Smart Thermostat Market Size and Volume Forecast by Type
9.7.1. Display
9.7.2. Temperature Sensor
9.7.3. Humidity Sensor
9.7.4. Motion Sensor
9.7.5. Others
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 Wireless Smart Thermostat Demand Share Forecast, 2019-2026
10. Latin America Wireless Smart Thermostat 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 Wireless Smart Thermostat 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 Wireless Smart Thermostat Market Size and Volume Forecast by Application
10.4.1. Residential
10.4.2. Office Building
10.4.3. Educational Institution
10.4.4. Industrial Building
10.4.5. Retail
10.4.6. Hospitality
10.4.7. Healthcare
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Wireless Smart Thermostat Market Size and Volume Forecast by Type
10.7.1. Display
10.7.2. Temperature Sensor
10.7.3. Humidity Sensor
10.7.4. Motion Sensor
10.7.5. Others
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 Wireless Smart Thermostat Demand Share Forecast, 2019-2026
11. Europe Wireless Smart Thermostat 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 Wireless Smart Thermostat 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 Wireless Smart Thermostat Market Size and Volume Forecast by Application
11.4.1. Residential
11.4.2. Office Building
11.4.3. Educational Institution
11.4.4. Industrial Building
11.4.5. Retail
11.4.6. Hospitality
11.4.7. Healthcare
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Wireless Smart Thermostat Market Size and Volume Forecast by Type
11.7.1. Display
11.7.2. Temperature Sensor
11.7.3. Humidity Sensor
11.7.4. Motion Sensor
11.7.5. Others
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 Wireless Smart Thermostat Demand Share, 2019-2026
12. Asia Pacific Wireless Smart Thermostat 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 Wireless Smart Thermostat 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 Wireless Smart Thermostat Market Size and Volume Forecast by Application
12.4.1. Residential
12.4.2. Office Building
12.4.3. Educational Institution
12.4.4. Industrial Building
12.4.5. Retail
12.4.6. Hospitality
12.4.7. Healthcare
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Wireless Smart Thermostat Market Size and Volume Forecast by Type
12.7.1. Display
12.7.2. Temperature Sensor
12.7.3. Humidity Sensor
12.7.4. Motion Sensor
12.7.5. Others
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 Wireless Smart Thermostat Demand Share, 2019-2026
13. Middle East & Africa Wireless Smart Thermostat 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 Wireless Smart Thermostat 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 Wireless Smart Thermostat Market Size and Volume Forecast by Application
13.4.1. Residential
13.4.2. Office Building
13.4.3. Educational Institution
13.4.4. Industrial Building
13.4.5. Retail
13.4.6. Hospitality
13.4.7. Healthcare
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Wireless Smart Thermostat Market Size and Volume Forecast by Type
13.7.1. Display
13.7.2. Temperature Sensor
13.7.3. Humidity Sensor
13.7.4. Motion Sensor
13.7.5. Others
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 Wireless Smart Thermostat Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Wireless Smart Thermostat Market: Market Share Analysis
14.2. Wireless Smart Thermostat Distributors and Customers
14.3. Wireless Smart Thermostat Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Nest Labs (U.S.)
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 international (U.S.)
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 (Canada)
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 SE (France)
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 Electric Co. (U.S.)
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Tado (Germany)
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Control4 Corporation (U.S.)
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Ingersoll Rand (Ireland)
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Carrier Corporation (U.S.)
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Nortek, Inc. (France)
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
