Market Overview:
Wi-Fi thermostat associates with home's wireless Internet service and allow them to remotely check and change the temperature in the home from an app on the smartphone or tablet. Wi-Fi thermostats are rapidly becoming standard apparatus for homes. Some thermostats are designed for simple heating and cooling systems and offer basic scheduling and programming options, while others are designed for complex multi-stage systems and will control heating, cooling, dehumidifier, and ventilation systems. Smart thermostats offer a variability of features that keep home comfortable and reduce heating and cooling costs. They can be controlled from a mobile device such as a smartphone or tablet using a free mobile app, and some models also can be operated from a web browser.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Honeywell (United States), LUX/GEO (United States), Nest (United States), Schneider Electric (France), Emerson (United States), Johnson Controls (Ireland), Ecobee (Canada), IDevices (United States), Insteon (United States) and First Alert (United States) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region or narrow down segments in the final scope subject to feasibility |
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics of major and emerging geographies across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Key Players of Wi-Fi Smart Thermostats Market Study:
Honeywell (United States), LUX/GEO (United States), Nest (United States), Schneider Electric (France), Emerson (United States), Johnson Controls (Ireland), Ecobee (Canada), IDevices (United States), Insteon (United States) and First Alert (United States)
Wi-Fi Smart Thermostats Market Segment Analysis
Scope | Sub-Segments |
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Application / End User | Residential and Commercial |
Type | Programmable and Non-programmable |
Technology | Digital Display,Temperature Sensor,Humidity Sensor,Motion Sensor,Others |
Distribution Channel | Online,Offline |
Connectivity | Bluetooth,ZigBee |
Wi-Fi Smart Thermostats Market Changing Dynamics
Attributes | Details |
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Growth Drivers | - Escalating Necessity to Optimize Power For Reduce Energy Bills
- Rising Government Support for Energy Saving Devices
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Influencing Trends | - Integrating Smart Thermostats with IOT
- Adoption of Building Automation Solution
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Restraints | - Lack of Awareness about Smart Thermostats
- Rising Prices of Smart Thermostats
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Road Blocks / Challenges | - Not every smart Wi-Fi thermostat is compatible with every type of heating and cooling system
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Gaps & Opportunities | - Rising Demand of Wi-Fi enabled Smart Thermostats
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Latest Industry Highlights:
In May 2022- Wyze Room Sensor launches a small, wireless device that pairs with the smart home company’s Smart Wi-Fi Thermostat, which launched in December 2020.
In March 2022- Itron, Inc. is collaborating with Emerson, to provide dependable thermostats as part of Itron's Bring Your Own Device (BYOD), direct install demand response (DR), and distributed energy resource (DER) programs. With thermostats controlling approximately 50% of a home's energy usage, including Emerson's Sensi smart thermostat and Sensi Touch smart thermostats in any utility's energy management portfolio provides consumers with greater control and visibility into their energy usage while also allowing utilities to improve grid reliability and sustainability.
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Wi-Fi Smart Thermostats market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Wi-Fi Smart Thermostats market.
Identification of total players or companies operating in the global market which is further concentrated to fewer or most impacting players which are considered under the reports scope. In order to make a priority list sorting is done based on revenue generated based on the latest reporting with the help of paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of Wi-Fi Smart Thermostats, Suppliers of Wi-Fi Smart Thermostats, Smart Thermostats Service Industry Association, Government Regulatory Bodies, Government and Private Research Organization and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.