New Product Development and Strategic Partnering to Push Seamless Interoperability with Smart Home Devices
Rising energy costs and growing environmental concerns are leading to an increase in the demand for energy-efficient solutions for buildings. Smart thermostats provide a convenient and effective way to reduce energy consumption and save money on heating and cooling bills. Consumer demand to automate and control home environments is making smart thermostats increasingly popular.
North America, followed by Europe, leads the smart thermostats market. Growth in the Asia-Pacific and the Middle East is expected to be concentrated in China, Japan, Australia, and the United Arab Emirates. The growing role of smart thermostats in demand-response programs, the rise in the adoption of smart home automation devices, and favorable government regulations and incentives are the key drivers for this market. Privacy concerns, the vulnerability of smart home devices to cyberattacks, and the lack of interoperability between different smart home systems are the current barriers to smart thermostat adoption.
This study focuses on the revenue manufacturers earn from selling thermostat products. It includes profiles of the key companies to watch and identifies the growth opportunities emerging from this space for market players and stakeholders to leverage. The base year for the study is 2022, and the forecast period is 2023 to 2028.
Table of Contents
1. Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative 8™
- The Impact of the Top 3 Strategic Imperatives on the Global Smart Thermostats Industry
- Growth Opportunities Fuel the Growth Pipeline Engine™
2. Growth Opportunity Analysis
- Scope of Analysis
- Market Highlights - Global Smart Thermostats Market
- Internet and Broadband Adoption Driving Smart Devices Uptake
- Smart Home Market Trends
- Smart Home Ecosystem
- Smart Home Ecosystem Explained
- Home Ecosystems - Key Benefits
- Evolution of Smart Home Ecosystems
- Role of Technology Companies in the Smart Home Ecosystem
- The Role of Smart Thermostats in the Energy Efficiency of Buildings
- Connected Devices Forecast
- Trend Opportunity - Regional Exposure
- Growth Metrics
- Growth Drivers
- Growth Restraints
- Revenue Forecast
- Unit Shipment and Pricing Forecast
- Forecast Analysis
- Revenue and Unit Shipment Forecast - North America
- Revenue and Unit Shipment Forecast - Europe
- Revenue and Unit Shipment Forecast - Asia-Pacific
- Revenue and Unit Shipment Forecast - Rest of the World
- Competitive Landscape
- Competitive Analysis - Porter’s Five Forces
- Smart Thermostat Partnerships 2020-2022
- Product Launches - Smart Thermostats and Sensors
3. Companies to Watch
- Companies to Watch - ecobee
- Companies to Watch - Emerson
- Companies to Watch - Google Nest
- Companies to Watch - Resideo (Honeywell Home)
- Companies to Watch - tado°
4. Growth Opportunity Universe
- Growth Opportunity 1 - Addressing the Energy Crisis
- Growth Opportunity 2 - Improving Smart Building User Experience
- Growth Opportunity 3 - Digitization and Decarbonization through DR Programs
- List of Exhibits
- Legal Disclaimer
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- ecobee
- Emerson
- Google Nest
- Resideo (Honeywell Home)
- tado°
