Smart Thermostat Market to Reach a Value of US$ 6.8 Billion by 2026

Smart Thermostat Market Research Report

IMARC Group provides an in-depth analysis of the global smart thermostat market report based on region, product, component, technology, and application.

SHERIDAN, WYOMING, UNITED STATES, October 23, 2021 / — Market Overview:

According to the latest report by IMARC Group, titled “Smart Thermostat Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026”, the global smart thermostat market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the global smart thermostat market to reach a value of US$ 6.8 Billion in 2026. A smart thermostat refers to a Wi-Fi-based device that helps to automatically adjust the cooling and heating temperature settings in a premise through a smartphone or tablet. It learns the temperature preferences of the user and accordingly sets up a schedule throughout the day. Smart thermostats aid in regular monitoring of gas and electricity usage of a household and offer a variety of statistical data about the process and duration of heating.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Smart Thermostat Market Trends:

The inflating per unit cost of energy has led to an emerging need for energy-efficient management solutions, which is mainly contributing to the global smart thermostat market. This rise is further supported by the increasing penetration of smartphones and home automation devices. Moreover, the rapid expansion of real estate industry and increasing construction of smart homes and commercial spaces are driving the growth of the market. Furthermore, numerous initiatives undertaken by governments of various nations to meet energy effectiveness standards of new construction sites and infrastructures are creating a positive outlook in the market.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:
• Nest Labs, Inc.
• Honeywell International Inc.
• Ecobee, Inc.
• Emerson Electric Co.
• Schneider Electric SE
• Tado GmbH
• Control4 Corporation
• Carrier Corporation
• Nortek

Key Market Segmentation:

Breakup by Product:
• Standalone Smart Thermostats
• Connected Smart Thermostats
• Learning Smart Thermostats

Breakup by Component:
• Display
• Temperature Sensor
• Humidity Sensor
• Motion Sensor
• Others

Breakup by Technology:
• Wired
• Wireless Smart Thermostats

Breakup by Application:
• Residential
• Commercial
• Industrial

Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:
• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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