According the report, Increase in adoption of connected devices is one of the primary growth factors for the market. Rising Installation of Smart Home Appliances is also expected to contribute significantly to the Smart WiFi Thermostats market. Overall, Residential applications of Smart WiFi Thermostats, and the growing awareness of them, is what makes this segment of the industry important to its overall growth.

AMA’s Analyst on the Global Smart WiFi Thermostats market identified that the demand is rising in many different parts of the world as "Increase in internet penetration is rising the demand of smart thermostat. There has been increasing usage of smart phones and connected devices which enables the users to be connected and adjust the temperature setting remotely. In addition the home appliances are going smart such as washing machine, refrigerators and others. This is leading to growing adoption of smart thermostat.". Furthermore, some recent industry insights like "In November 2021- Braeburn Systems LLC is announcing the integration of IFTTT with BlueLink Smart Connect service. IFTTT is an outside service that allows users to integrate IoT (internet of things) devices with services offered by entities other than the manufacturer of those devices. IFTTT integration facilitates cooperation between BlueLink Smart Connect and other services, enabling customers to control their thermostats in new and interesting ways." is constantly making the industry dynamic. One of the challenges that industry facing is "Risk Associated with Data Security and Difficulties in the use of utilities"

The Component, such as Temperature sensor, is boosting the Smart WiFi Thermostats market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

The Distribution channel, such as Online Shop, is boosting the Smart WiFi Thermostats market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Smart WiFi Thermostats market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Smart WiFi Thermostats market and other related sub-markets covered in the study.

o Key & emerging players in the Smart WiFi Thermostats market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation
The overall Smart WiFi Thermostats market size is calculated using market estimation process, the Smart WiFi Thermostats market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Smart WiFi Thermostats market size has been validated using both top-down and bottom-up approaches.