[340 Pages Report] The global Wi-Fi smart thermostat market is poised to attain a rapid CAGR of 21.0% during the forecast period (2022-2032), to reach US$ 17,231.0 million by 2032, up from US$ 2,561.0 million in 2022.
| Report Attribute | Details |
|---|---|
| Wi-Fi Smart Thermostat Market Value (2022) | US$ 2,561.0 Million |
| Wi-Fi Smart Thermostat Market Anticipated Forecast Value (2032) | US$ 17,231.0 Million |
| Wi-Fi Smart Thermostat Market Projected Growth Rate (2022-2032) | 21.0% |
The demand for Wi-Fi smart thermostat is on the rise as it is synced up with a Wi-Fi router which helps in remote access from various gadgets as is observed as one of the world’s most profitable products.
Customers from all parts of the world have been introduced to Wi-Fi smart thermostat as a major energy saver and cost-effective system, soaring the sales of Wi-Fi smart thermostat.
The mounting inclination for smart home solutions and facilities continues to drive the global Wi-Fi smart thermostat market growth. The surging demand for Wi-Fi smart thermostats is also due to the compatibility of smart devices, such as smartphones, laptops, and tablets, with smart thermostats that have Wi-Fi access.
Moreover, the sales of Wi-Fi smart thermostats are augmenting on account of the growing popularity of smart homes in the U.S. An increase in the use of IoT and AI-based technologies is anticipated to foster the global Wi-Fi smart thermostat market key trends & opportunities and transform programmable thermostats into smart ones. Additionally, it is anticipated that a rise in the use of smart technology in medical monitoring likely spike the demand for Wi-Fi smart thermostats.
Furthermore, users can program Wi-Fi smart thermostats to operate at specific times based on their needs. The same rises energy efficiency by, at times, reducing human error and negligence and supports the expansion of the residential Wi-Fi smart thermostat market size globally.
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The global Wi-Fi smart thermostat market trends are shaped by the continuous advancement in sensor technologies, increasing smartphone users as well as expanding wireless telecommunication infrastructure. Rising customer preferences for cloud-based solutions as well as expanding IOTs applications has compelled the manufacturers to spur the uptake of smart programmable thermostats, expanding the Wi-Fi smart thermostat market share.
The sales of Wi-Fi smart thermostat are likely to spur owing to the simple set-up procedures help in saving energy and enables much more comfortable environments in businesses and homes. The study delivers detailed overview of parent markets - Bluetooth and ZigBee based smart thermostat- to create a comparative analysis as to how the sales of Wi-Fi smart thermostat contributes to their overall growth.
Since it lowers installation and maintenance costs, offers greater flexibility and scalability, and improves connectivity, positively influencing the Wi-Fi smart thermostat market outlook. Recently, the market is fostered by new technologies like versatile sensors, occupancy sensors, communicating thermostats are tested, and integrated into building/HVAC applications due to the Internet of Things' (IoT) quick development.
The maintenance of a comfortable temperature in structures like homes and buildings is one of the main goals of smart cities, improving the Wi-Fi smart thermostat market trends and forecast. Smart HVAC systems can reduce energy costs and increase productivity for households, businesses, and the government by integrating IoT sensors with thermostats.
The government and businesses could, therefore, improve the gadgets and programmes to guarantee proper energy optimization in smart building and city projects and demand may rise as a result of the increased focus and usage of the device.
North America is anticipated to be at the forefront of the Wi-Fi smart thermostat market, with a revenue share of 34.6% in 2022. Among the entities that fall under this category are buildings and companies that are owned by the city, as well as colleges, private citizens, hospitals, and non-profits.
In order to change the physical infrastructure and promote wise resource allocation, this factor will almost certainly require behavioural economics, sensor technology, and gamification. These cities might start implementing technologies that employ algorithms and sensors and gradually raise heating and cooling efficiency in order to become more energy-efficient, influencing the Wi-Fi smart thermostat market future trends.
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Germany, France, Italy, Spain, the UK, and the rest of Europe comprise the segments of the Europe market, contributing to the region’s Wi-Fi smart thermostat market share of 20.4% in 2022.
Due to the increasing adoption of smart energy solutions across a range of industries and commercial buildings, Europe is likely to dominate the market for Wi-Fi smart thermostats in the years to come.
The rapid adoption of smart infrastructure and the escalating demand for energy management solutions are encouraging European consumers to accept Wi-Fi smart thermostats. Additionally, the market development in the region is being further fuelled by the growing adoption of IoT and AI-based technologies in the region.
Mysa is a smart wi-fi thermostat for applications related to the connected home.
It is made to function with electric baseboard heaters, fan-forced heaters, and in-floor heaters that are powered by high-voltage heating systems. It gains knowledge of how long it takes to heat a space so that it can adjust itself without user input.
The features include vacation mode and location enabled, which turns on or off when they sense your presence. These are able to work with Google Home, Amazon Echo, and Apple Homekit. For remote monitoring and control, the company also offers a companion app that works with iOS and Android devices. Prices as of March 2018 are $125.
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Some of the major market players include Emerson Electric Co., Honeywell International Inc., Ecobee, Inc., Johnson Controls, Control4 Corporation, Nest Labs Inc., Schnieder Electric SE, Nortek, Inc., Ingersoll Rand plc., and Tado GmbH.
To consolidate their position in the Wi-Fi smart thermostat market, these key players have implemented strategies like mergers and acquisitions, product portfolio expansion, geographic expansion, collaborations, and agreements.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 21.0% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016-2021 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
The global Wi-Fi smart thermostat market is projected to advance at a CAGR of 21.0% (2022-2032).
The anticipated North America Wi-Fi smart thermostat market share is 34.6% in 2022.
The Wi-Fi smart thermostat market likely to account for US$ 17,231.0 million by 2032.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2017-2021 and Forecast, 2022-2032 4.1. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis, 2017-2021 4.2. Current and Future Market Size Value (US$ Mn) & Volume (Units) Projections, 2022-2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Price Range 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Price Range, 2017-2021 5.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Price Range, 2022-2032 5.3.1. Above 150 US$ 5.3.2. Below 150 US$ 5.4. Y-o-Y Growth Trend Analysis By Price Range, 2017-2021 5.5. Absolute $ Opportunity Analysis By Price Range, 2022-2032 6. Global Market Analysis 2017-2021 and Forecast 2022-2032, By End-Use 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By End-Use, 2017-2021 6.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By End-Use, 2022-2032 6.3.1. Industrial 6.3.2. Commercial 6.3.3. Residential 6.4. Y-o-Y Growth Trend Analysis By End-Use, 2017-2021 6.5. Absolute $ Opportunity Analysis By End-Use, 2022-2032 7. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Region, 2017-2021 7.3. Current Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Region, 2022-2032 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. Asia Pacific 7.3.5. MEA 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2017-2021 and Forecast 2022-2032, By Country 8.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 8.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 8.2.1. By Country 8.2.1.1. U.S. 8.2.1.2. Canada 8.2.2. By Price Range 8.2.3. By End-Use 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Price Range 8.3.3. By End-Use 8.4. Key Takeaways 9. Latin America Market Analysis 2017-2021 and Forecast 2022-2032, By Country 9.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 9.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Price Range 9.2.3. By End-Use 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Price Range 9.3.3. By End-Use 9.4. Key Takeaways 10. Europe Market Analysis 2017-2021 and Forecast 2022-2032, By Country 10.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 10.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. U.K. 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Europe 10.2.2. By Price Range 10.2.3. By End-Use 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Price Range 10.3.3. By End-Use 10.4. Key Takeaways 11. Asia Pacific Market Analysis 2017-2021 and Forecast 2022-2032, By Country 11.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 11.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.1.4. Malaysia 11.2.1.5. Singapore 11.2.1.6. Australia 11.2.1.7. New Zealand 11.2.1.8. Rest of APAC 11.2.2. By Price Range 11.2.3. By End-Use 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Price Range 11.3.3. By End-Use 11.4. Key Takeaways 12. MEA Market Analysis 2017-2021 and Forecast 2022-2032, By Country 12.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 12.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 12.2.1. By Country 12.2.1.1. GCC Countries 12.2.1.2. South Africa 12.2.1.3. Israel 12.2.1.4. Rest of MEA 12.2.2. By Price Range 12.2.3. By End-Use 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Price Range 12.3.3. By End-Use 12.4. Key Takeaways 13. Key Countries Market Analysis 13.1. U.S. 13.1.1. Pricing Analysis 13.1.2. Market Share Analysis, 2021 13.1.2.1. By Price Range 13.1.2.2. By End-Use 13.2. Canada 13.2.1. Pricing Analysis 13.2.2. Market Share Analysis, 2021 13.2.2.1. By Price Range 13.2.2.2. By End-Use 13.3. Brazil 13.3.1. Pricing Analysis 13.3.2. Market Share Analysis, 2021 13.3.2.1. By Price Range 13.3.2.2. By End-Use 13.4. Mexico 13.4.1. Pricing Analysis 13.4.2. Market Share Analysis, 2021 13.4.2.1. By Price Range 13.4.2.2. By End-Use 13.5. Germany 13.5.1. Pricing Analysis 13.5.2. Market Share Analysis, 2021 13.5.2.1. By Price Range 13.5.2.2. By End-Use 13.6. U.K. 13.6.1. Pricing Analysis 13.6.2. Market Share Analysis, 2021 13.6.2.1. By Price Range 13.6.2.2. By End-Use 13.7. France 13.7.1. Pricing Analysis 13.7.2. Market Share Analysis, 2021 13.7.2.1. By Price Range 13.7.2.2. By End-Use 13.8. Spain 13.8.1. Pricing Analysis 13.8.2. Market Share Analysis, 2021 13.8.2.1. By Price Range 13.8.2.2. By End-Use 13.9. Italy 13.9.1. Pricing Analysis 13.9.2. Market Share Analysis, 2021 13.9.2.1. By Price Range 13.9.2.2. By End-Use 13.10. China 13.10.1. Pricing Analysis 13.10.2. Market Share Analysis, 2021 13.10.2.1. By Price Range 13.10.2.2. By End-Use 13.11. Japan 13.11.1. Pricing Analysis 13.11.2. Market Share Analysis, 2021 13.11.2.1. By Price Range 13.11.2.2. By End-Use 13.12. South Korea 13.12.1. Pricing Analysis 13.12.2. Market Share Analysis, 2021 13.12.2.1. By Price Range 13.12.2.2. By End-Use 13.13. Malaysia 13.13.1. Pricing Analysis 13.13.2. Market Share Analysis, 2021 13.13.2.1. By Price Range 13.13.2.2. By End-Use 13.14. Singapore 13.14.1. Pricing Analysis 13.14.2. Market Share Analysis, 2021 13.14.2.1. By Price Range 13.14.2.2. By End-Use 13.15. Australia 13.15.1. Pricing Analysis 13.15.2. Market Share Analysis, 2021 13.15.2.1. By Price Range 13.15.2.2. By End-Use 13.16. New Zealand 13.16.1. Pricing Analysis 13.16.2. Market Share Analysis, 2021 13.16.2.1. By Price Range 13.16.2.2. By End-Use 13.17. GCC Countries 13.17.1. Pricing Analysis 13.17.2. Market Share Analysis, 2021 13.17.2.1. By Price Range 13.17.2.2. By End-Use 13.18. South Africa 13.18.1. Pricing Analysis 13.18.2. Market Share Analysis, 2021 13.18.2.1. By Price Range 13.18.2.2. By End-Use 13.19. Israel 13.19.1. Pricing Analysis 13.19.2. Market Share Analysis, 2021 13.19.2.1. By Price Range 13.19.2.2. By End-Use 14. Market Structure Analysis 14.1. Competition Dashboard 14.2. Competition Benchmarking 14.3. Market Share Analysis of Top Players 14.3.1. By Regional 14.3.2. By Price Range 14.3.3. By End-Use 15. Competition Analysis 15.1. Competition Deep Dive 15.1.1. Alphabet Inc. (Nest Labs) 15.1.1.1. Overview 15.1.1.2. Product Portfolio 15.1.1.3. Profitability by Market Segments 15.1.1.4. Sales Footprint 15.1.1.5. Strategy Overview 15.1.1.5.1. Marketing Strategy 15.1.1.5.2. Product Strategy 15.1.1.5.3. Channel Strategy 15.1.2. Ecobee 15.1.2.1. Overview 15.1.2.2. Product Portfolio 15.1.2.3. Profitability by Market Segments 15.1.2.4. Sales Footprint 15.1.2.5. Strategy Overview 15.1.2.5.1. Marketing Strategy 15.1.2.5.2. Product Strategy 15.1.2.5.3. Channel Strategy 15.1.3. Emerson Electric Co. 15.1.3.1. Overview 15.1.3.2. Product Portfolio 15.1.3.3. Profitability by Market Segments 15.1.3.4. Sales Footprint 15.1.3.5. Strategy Overview 15.1.3.5.1. Marketing Strategy 15.1.3.5.2. Product Strategy 15.1.3.5.3. Channel Strategy 15.1.4. Honeywell International Inc 15.1.4.1. Overview 15.1.4.2. Product Portfolio 15.1.4.3. Profitability by Market Segments 15.1.4.4. Sales Footprint 15.1.4.5. Strategy Overview 15.1.4.5.1. Marketing Strategy 15.1.4.5.2. Product Strategy 15.1.4.5.3. Channel Strategy 15.1.5. Johnson Controls 15.1.5.1. Overview 15.1.5.2. Product Portfolio 15.1.5.3. Profitability by Market Segments 15.1.5.4. Sales Footprint 15.1.5.5. Strategy Overview 15.1.5.5.1. Marketing Strategy 15.1.5.5.2. Product Strategy 15.1.5.5.3. Channel Strategy 15.1.6. Netatmo 15.1.6.1. Overview 15.1.6.2. Product Portfolio 15.1.6.3. Profitability by Market Segments 15.1.6.4. Sales Footprint 15.1.6.5. Strategy Overview 15.1.6.5.1. Marketing Strategy 15.1.6.5.2. Product Strategy 15.1.6.5.3. Channel Strategy 15.1.7. Schneider Electric 15.1.7.1. Overview 15.1.7.2. Product Portfolio 15.1.7.3. Profitability by Market Segments 15.1.7.4. Sales Footprint 15.1.7.5. Strategy Overview 15.1.7.5.1. Marketing Strategy 15.1.7.5.2. Product Strategy 15.1.7.5.3. Channel Strategy 15.1.8. Siemens AG 15.1.8.1. Overview 15.1.8.2. Product Portfolio 15.1.8.3. Profitability by Market Segments 15.1.8.4. Sales Footprint 15.1.8.5. Strategy Overview 15.1.8.5.1. Marketing Strategy 15.1.8.5.2. Product Strategy 15.1.8.5.3. Channel Strategy 15.1.9. Tado 15.1.9.1. Overview 15.1.9.2. Product Portfolio 15.1.9.3. Profitability by Market Segments 15.1.9.4. Sales Footprint 15.1.9.5. Strategy Overview 15.1.9.5.1. Marketing Strategy 15.1.9.5.2. Product Strategy 15.1.9.5.3. Channel Strategy 15.1.10. Zen Thermostat 15.1.10.1. Overview 15.1.10.2. Product Portfolio 15.1.10.3. Profitability by Market Segments 15.1.10.4. Sales Footprint 15.1.10.5. Strategy Overview 15.1.10.5.1. Marketing Strategy 15.1.10.5.2. Product Strategy 15.1.10.5.3. Channel Strategy 16. Assumptions & Acronyms Used 17. Research Methodology
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Wi-Fi Smart Thermostat Market
