The Asia Pacific Smart Thermostat Market would witness market growth of 17.7% CAGR during the forecast period (2022-2028).
A regular thermostat utilizes temperature to determine when to turn off the fan and AC or heat on and off. It works like a light switch, except it incorporates temperature into the equation (to determine when to turn the fan, cooling, or heating on & off). A typical thermostat has a hot wire, a standard wire, a wire that connects to the fan blower and wires that connect to the HVAC system for cooling and heating.
It may also contain additional cables for emergency heat, auxiliary heat, two-stage heating or cooling, or wires for systems with separate or standalone heat or AC. When a specific temperature is set, the fan and heat or cool shut off as the internal thermostat reaches the desired temperature. Smart thermostats operate similarly, except they must connect to the home’s Wi-Fi.
This allows the user to change the thermostat’s settings using a companion app remotely. When a temperature is set in the application, it transmits that setting through the Wi-Fi network to the thermostat and the thermostat then forwards that signal to the blower and HVAC system. When the user utilizes a smart speaker, it communicates the command to the thermostat’s companion app, which travels through the Wi-Fi network to the thermostat.
The Japanese government has designed tourism as a pillar of its growth strategy and also utilize it for regional revitalization. In March 2016, the “Tourism Vision Design Council for supporting the tomorrow of Japan,” set a target of 40 million foreign visitors to Japan by 2020 and 60 million by 2030. The ministry of Internal Affairs and communications allocated 3.88 billion yen for the DX (Digital Transformation) in local governments in its FY 2021-22 budget request. The increasing tourism due to the government’s involvement will also boost the hospitality sector as well as the demand for smart thermostat in luxury commercial home stays and hotels. This would result in boosting the market’s growth in the APAC region.
The China market dominated the Asia Pacific Smart Thermostat Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $582.2 million by 2028.The Japan market is estimated to grow a CAGR of 17% during (2022 - 2028). Additionally, The India market would experience a CAGR of 18.4% during (2022 - 2028).
Based on Product, the market is segmented into Connected, Standalone and Learning. Based on End User, the market is segmented into Residential, Commercial and Industrial. Based on Technology, the market is segmented into Wi-Fi, ZigBee and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Johnson Controls International PLC, Emerson Electric Co., Resideo Technologies, Inc., Snap One Holdings Corp. (Control4), Centrica Plc, Ecobee, Inc. (Generac Holdings, Inc.), Netatmo SAS (LeGrand Group), Tado GmbH, and Vine Connected Corporation (Xing Connected Corporation).
A regular thermostat utilizes temperature to determine when to turn off the fan and AC or heat on and off. It works like a light switch, except it incorporates temperature into the equation (to determine when to turn the fan, cooling, or heating on & off). A typical thermostat has a hot wire, a standard wire, a wire that connects to the fan blower and wires that connect to the HVAC system for cooling and heating.
It may also contain additional cables for emergency heat, auxiliary heat, two-stage heating or cooling, or wires for systems with separate or standalone heat or AC. When a specific temperature is set, the fan and heat or cool shut off as the internal thermostat reaches the desired temperature. Smart thermostats operate similarly, except they must connect to the home’s Wi-Fi.
This allows the user to change the thermostat’s settings using a companion app remotely. When a temperature is set in the application, it transmits that setting through the Wi-Fi network to the thermostat and the thermostat then forwards that signal to the blower and HVAC system. When the user utilizes a smart speaker, it communicates the command to the thermostat’s companion app, which travels through the Wi-Fi network to the thermostat.
The Japanese government has designed tourism as a pillar of its growth strategy and also utilize it for regional revitalization. In March 2016, the “Tourism Vision Design Council for supporting the tomorrow of Japan,” set a target of 40 million foreign visitors to Japan by 2020 and 60 million by 2030. The ministry of Internal Affairs and communications allocated 3.88 billion yen for the DX (Digital Transformation) in local governments in its FY 2021-22 budget request. The increasing tourism due to the government’s involvement will also boost the hospitality sector as well as the demand for smart thermostat in luxury commercial home stays and hotels. This would result in boosting the market’s growth in the APAC region.
The China market dominated the Asia Pacific Smart Thermostat Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $582.2 million by 2028.The Japan market is estimated to grow a CAGR of 17% during (2022 - 2028). Additionally, The India market would experience a CAGR of 18.4% during (2022 - 2028).
Based on Product, the market is segmented into Connected, Standalone and Learning. Based on End User, the market is segmented into Residential, Commercial and Industrial. Based on Technology, the market is segmented into Wi-Fi, ZigBee and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Johnson Controls International PLC, Emerson Electric Co., Resideo Technologies, Inc., Snap One Holdings Corp. (Control4), Centrica Plc, Ecobee, Inc. (Generac Holdings, Inc.), Netatmo SAS (LeGrand Group), Tado GmbH, and Vine Connected Corporation (Xing Connected Corporation).
Scope of the Study
Market Segments Covered in the Report:
By Product
- Connected
- Standalone
- Learning
By End User
- Residential
- Commercial
- Industrial
By Technology
- Wi-Fi
- ZigBee
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Siemens AG
- Johnson Controls International PLC
- Emerson Electric Co
- Resideo Technologies, Inc
- Snap One Holdings Corp. (Control4)
- Centrica Plc
- Ecobee, Inc. (Generac Holdings, Inc.)
- Netatmo SAS (LeGrand Group)
- Tado GmbH
- Vine Connected Corporation (Xing Connected Corporation)
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Smart Thermostat Market, by Product
1.4.2 Asia Pacific Smart Thermostat Market, by End User
1.4.3 Asia Pacific Smart Thermostat Market, by Technology
1.4.4 Asia Pacific Smart Thermostat Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition & scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
Chapter 4. Asia Pacific Smart Thermostat Market by Product
4.1 Asia Pacific Connected Market by Country
4.2 Asia Pacific Standalone Market by Country
4.3 Asia Pacific Learning Market by Country
Chapter 5. Asia Pacific Smart Thermostat Market by End-user
5.1 Asia Pacific Residential Market by Country
5.2 Asia Pacific Commercial Market by Country
5.3 Asia Pacific Industrial Market by Country
Chapter 6. Asia Pacific Smart Thermostat Market by Technology
6.1 Asia Pacific Wi-Fi Market by Country
6.2 Asia Pacific ZigBee Market by Country
6.3 Asia Pacific Others Market by Country
Chapter 7. Asia Pacific Smart Thermostat Market by Country
7.1 China Smart Thermostat Market
7.1.1 China Smart Thermostat Market by Product
7.1.2 China Smart Thermostat Market by End-user
7.1.3 China Smart Thermostat Market by Technology
7.2 Japan Smart Thermostat Market
7.2.1 Japan Smart Thermostat Market by Product
7.2.2 Japan Smart Thermostat Market by End-user
7.2.3 Japan Smart Thermostat Market by Technology
7.3 India Smart Thermostat Market
7.3.1 India Smart Thermostat Market by Product
7.3.2 India Smart Thermostat Market by End-user
7.3.3 India Smart Thermostat Market by Technology
7.4 South Korea Smart Thermostat Market
7.4.1 South Korea Smart Thermostat Market by Product
7.4.2 South Korea Smart Thermostat Market by End-user
7.4.3 South Korea Smart Thermostat Market by Technology
7.5 Singapore Smart Thermostat Market
7.5.1 Singapore Smart Thermostat Market by Product
7.5.2 Singapore Smart Thermostat Market by End-user
7.5.3 Singapore Smart Thermostat Market by Technology
7.6 Malaysia Smart Thermostat Market
7.6.1 Malaysia Smart Thermostat Market by Product
7.6.2 Malaysia Smart Thermostat Market by End-user
7.6.3 Malaysia Smart Thermostat Market by Technology
7.7 Rest of Asia Pacific Smart Thermostat Market
7.7.1 Rest of Asia Pacific Smart Thermostat Market by Product
7.7.2 Rest of Asia Pacific Smart Thermostat Market by End-user
7.7.3 Rest of Asia Pacific Smart Thermostat Market by Technology
Chapter 8. Company Profiles
8.1 Siemens AG
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments:
8.1.5.1 Product Launches and Product Expansions:
8.1.6 SWOT Analysis
8.2 Johnson Controls International PLC
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental & Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 Recent strategies and developments:
8.2.5.1 Product Launches and Product Expansions:
8.2.5.2 Acquisition and Mergers:
8.3 Emerson Electric Co.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.4 Resideo Technologies, Inc.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expenses
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations, and Agreements:
8.4.5.2 Product Launches and Product Expansions:
8.4.5.3 Acquisition and Mergers:
8.5 Snap One Holdings Corp. (Control4)
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Regional Analysis
8.5.4 Recent strategies and developments:
8.5.4.1 Acquisition and Mergers:
8.6 Centrica Plc
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.7 Ecobee, Inc. (Generac Holdings, Inc.)
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Product Class Analysis
8.7.4 Research & Development Expenses
8.7.5 Recent strategies and developments:
8.7.5.1 Product Launches and Product Expansions:
8.8 Netatmo SAS (LeGrand Group)
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Regional Analysis
8.8.4 Research & Development Expense
8.9 Tado GmbH
8.9.1 Company Overview
8.10. Vine Connected Corporation (Xing Connected Corporation)
8.10.1 Company Overview
Companies Mentioned
- Siemens AG
- Johnson Controls International PLC
- Emerson Electric Co.
- Resideo Technologies, Inc.
- Snap One Holdings Corp. (Control4)
- Centrica Plc
- Ecobee, Inc. (Generac Holdings, Inc.)
- Netatmo SAS (LeGrand Group)
- Tado GmbH
- Vine Connected Corporation (Xing Connected Corporation)
Methodology
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