Smart Thermostats Market Scope
A Smart Thermostat are thermostats that are used for Home Automation. Smart thermostats are performing functions such as controlling a home's heating and/or air conditioning. A smart thermostat has the capability to make automated and smart adjustments for clients so as to achieve energy reserves and to connect with sources exterior to an HVAC system. Additionally, a smart thermostat is a main energy-saving device for smart homes/buildings. There are various applications of the smart thermostat such as residential, office building, educational institution and others.
According to AMA, the Global Smart Thermostats market is expected to see growth rate of 4.3% Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Smart Thermostats market throughout the predicted period.
Climote (Ireland), Centrica Hive (UK), Ariston Holding N.V. (Italy), Eve Systems (Germany), Siemens (Germany), Trane Technologies (Ireland), Johnson Controls (Lux Products) (Ireland), Legrand (Netatmo) (France), Tado (Germany), Bosch Thermotechnology (Germany), Salus Controls (UK), Ecobee (Canada) and Empowered Homes (MYSA) (Canada) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Radio Thermostat Company of America (US), Vine Connected (US), Alarm.com (US), MRCOOL (US), Zen Ecosystems (US), VIvint (US) and Cielo Wigle (US).
Segmentation Overview
The study have segmented the market of Global Smart Thermostats market by Type (Learning Smart Thermostat, Connected Smart Thermostat and Standalone Smart Thermostat), by Application (Residential, Commercial (Retail, Offices, Educational Institutes, Hospitality Centers, and Others) and Industrial) and Region with country level break-up.
On the basis of geography, the market of Smart Thermostats has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Integrating Smart Thermostats with IOT and Adoption of Building Automation Solution
Market Growth Drivers:
Escalating Necessity to Optimize Power For Reduce Energy Bills and Rising Government Support for Energy Saving Devices
Challenges:
High demand of the market
Restraints:
Lack of Awareness about Smart Thermostats and Rising Prices of Smart Thermostats
Opportunities:
Rising Demand of Wi-Fi enabled Smart Thermostats
Market Leaders and their Expansionary Development Strategies
In September 2018, Schneider Electric has acquired L&T's electrical, automation for better domestic production, improved exports, reduced import and successfully provide a wide range of product offerings at competitive price.
In June 2018, Honeywell a global leader in connected buildings has launched a suite of next-generation energy management software, smart lighting, voice controls, and secure cloud communication systems at HITEC 2018 in Houston, Texas. and On 8th January 2018, Honeywell group had announced collaboration with Whirlpool electronics. This collaboration is projected to allow Honeywell further push its device compatibility with the company joining Nest devices in terms of whirlpool smart appliance integration
Key Target Audience
Smart Thermostats Manufactures, Smart Thermostats Distributors/Retailors, Large, Medium-Sized and Small Enterprises, Venture Capitalists, Investors, Smart Thermostats Service Industry Association, Government Regulatory Bodies, Government and Private Research Organization and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.