Smart Thermostats Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Google Nest, Honeywell, EcoBee, Schneider Electric

The global smart thermostats market is anticipated to reach the market value of US$ 4326.2 million in the year 2027 from US$ 1804.6 million in the year 2021 having 15.0% CAGR in terms of revenue.

Smart Thermostats Market Overview

An important part of the energy consumption is owing to the air conditioners which are used in commercial and residential buildings. Earlier, in order to save energy programmable thermostats were used to monitor the temperature of air conditioners and make modifications. However, human errors in monitoring lead to more energy consumption so nowadays smart thermostats are incorporated. These devices are high in demand and have record-high valuation.

The report also assesses the key opportunities in the Smart Thermostats market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global Smart Thermostats Market has also been forecasted for the period 2022-2027, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

Who are the Major Players in the Smart Thermostats Market?

The global Smart Thermostats includes the identification and analysis of the various market participants competing in the global market. Prominent competitors include Google Nest, Honeywell, EcoBee, Schneider Electric, Emerson, LUX/GEO, Carrier, Energate Inc., Tado GmbH, Control4, Netatmo, Hive Home and others.

Industry News and Updates:

Schneider Electric Launches Next Generation PowerPacT Circuit Breaker Series at NECA Nashville 2021

Schneider Electric, the global leader in the digital transformation of energy management and automation and the industry’s leader in circuit breakers, today announced the launch of its new and improved PowerPacTTM Molded Case Circuit Breaker (MCCB) series at the 2021 NECA Convention Nashville. The new PowerPacT series focuses on innovative technology designed to meet the needs of Schneider Electric’s customers, offering an improved circuit breaker solution for the future.

What are the major Applications, Types, and Regions for the Smart Thermostats Market?

The market is segmented based on the type, applications, companies, and regions.

By Type, it is segmented into

• WiFi Thermostats


• ZigBee Thermostats


• Others

By Application, it is segmented into

• Residential


• Commercial

Smart Thermostats Market Regional Analysis

Over the projected period, Asia Pacific is expected to have a higher CAGR in the worldwide blood processing devices and consumables market. Following the COVID-19 pandemic in the Asia Pacific, the healthcare and life sciences infrastructure is rapidly increasing, which will increase the market over the projection period. In the previous year, the market for blood collection, processing, and management devices was controlled by North America. The United States has the biggest market share for blood collection, processing, and management devices. The market's growth in the region is being aided by a number of growth drivers. Increased incidence of chronic kidney disease, increased requirement for COVID-19 diagnosis, increased market participant competition, high R&D investment, and government subsidies for research institutes to create novel blood-related equipment are some of the major drivers driving market expansion.

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
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• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Smart Thermostats Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type, and segment. It focuses extensively on revealing a detailed regional analysis. The Global Smart Thermostats Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Smart Thermostats Market report scope?

Scope of the Report covers Smart Thermostats Market with a detailed analysis of the overall scenario for the market. It also highlights the business participants’ environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background, and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this Smart Thermostats Market analysis report as it has vital details to provide about regional markets and expected opportunities for the prediction time period 2022-2027. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how the worldwide market is working through efficient information graphics.

Key Takeaways from this Smart Thermostats Report

• Evaluate Smart Thermostats market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at the country level - for product types, end-use applications, and different industries verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges, and hidden opportunities.


• Get in-depth insights on your competitor’s performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis, and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies to your processes.


• Get a quick outlook on the Smart Thermostats market entropy – M&As, deals, partnerships, and product launches of all key players for the past 5 years.


• Evaluate the import-export statistics, supply-demand, and competitive landscape for more than the top 20 countries globally for the market.

Frequently Asked Questions

What is the study period of this market?

The Smart Thermostats Market is studied from 2017 - 2027.

What is the growth rate of the Smart Thermostats Market?

The Smart Thermostats Market is growing at a CAGR of 15.0% over the next 5 years.

Who are the key players in Smart Thermostats Market?

Google Nest, Honeywell, EcoBee, Schneider Electric, Emerson, LUX/GEO, Carrier, Energate Inc., Tado GmbH, Control4, Netatmo, Hive Home

What regions does this Smart Thermostats Market report cover?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

What are the significant types of Smart Thermostats Market?

WiFi Thermostats, ZigBee Thermostats, Others

 

What are the major end-use applications of Smart Thermostats Market?

Residential, Commercial

 

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