The global Wi-Fi smart thermostat market is poised to attain a rapid CAGR of 21.0% during the forecast period (2022 to 2032), to reach USD 17,231.0 million by 2032, up from USD 2,561.0 million in 2022.
| Report Attribute | Details |
|---|---|
| Wi-Fi Smart Thermostat Market Value (2022) | USD 2,561.0 Million |
| Wi-Fi Smart Thermostat Market Anticipated Forecast Value (2032) | USD 17,231.0 Million |
| Wi-Fi Smart Thermostat Market Projected Growth Rate (2022 to 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 USA 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.
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.
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 USD 125.
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 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Price Range, End Use, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific; Japan; The Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Emerson Electric Co.; Honeywell International Inc.; Ecobee, Inc.; Johnson Controls; Control4 Corporation; Nest Labs Inc.; Schnieder Electric SE; Nortek, Inc.; Ingersoll Rand plc.; Tado GmbH. |
| Customization | Available Upon Request |
Table 1: Global Market Value (US$ Mn) Forecast by Region, 2017-2032
Table 2: Global Market Volume (Units) Forecast by Region, 2017-2032
Table 3: Global Market Value (US$ Mn) Forecast by Price Range, 2017-2032
Table 4: Global Market Volume (Units) Forecast by Price Range, 2017-2032
Table 5: Global Market Value (US$ Mn) Forecast by End-Use, 2017-2032
Table 6: Global Market Volume (Units) Forecast by End-Use, 2017-2032
Table 7: North America Market Value (US$ Mn) Forecast by Country, 2017-2032
Table 8: North America Market Volume (Units) Forecast by Country, 2017-2032
Table 9: North America Market Value (US$ Mn) Forecast by Price Range, 2017-2032
Table 10: North America Market Volume (Units) Forecast by Price Range, 2017-2032
Table 11: North America Market Value (US$ Mn) Forecast by End-Use, 2017-2032
Table 12: North America Market Volume (Units) Forecast by End-Use, 2017-2032
Table 13: Latin America Market Value (US$ Mn) Forecast by Country, 2017-2032
Table 14: Latin America Market Volume (Units) Forecast by Country, 2017-2032
Table 15: Latin America Market Value (US$ Mn) Forecast by Price Range, 2017-2032
Table 16: Latin America Market Volume (Units) Forecast by Price Range, 2017-2032
Table 17: Latin America Market Value (US$ Mn) Forecast by End-Use, 2017-2032
Table 18: Latin America Market Volume (Units) Forecast by End-Use, 2017-2032
Table 19: Europe Market Value (US$ Mn) Forecast by Country, 2017-2032
Table 20: Europe Market Volume (Units) Forecast by Country, 2017-2032
Table 21: Europe Market Value (US$ Mn) Forecast by Price Range, 2017-2032
Table 22: Europe Market Volume (Units) Forecast by Price Range, 2017-2032
Table 23: Europe Market Value (US$ Mn) Forecast by End-Use, 2017-2032
Table 24: Europe Market Volume (Units) Forecast by End-Use, 2017-2032
Table 25: Asia Pacific Market Value (US$ Mn) Forecast by Country, 2017-2032
Table 26: Asia Pacific Market Volume (Units) Forecast by Country, 2017-2032
Table 27: Asia Pacific Market Value (US$ Mn) Forecast by Price Range, 2017-2032
Table 28: Asia Pacific Market Volume (Units) Forecast by Price Range, 2017-2032
Table 29: Asia Pacific Market Value (US$ Mn) Forecast by End-Use, 2017-2032
Table 30: Asia Pacific Market Volume (Units) Forecast by End-Use, 2017-2032
Table 31: MEA Market Value (US$ Mn) Forecast by Country, 2017-2032
Table 32: MEA Market Volume (Units) Forecast by Country, 2017-2032
Table 33: MEA Market Value (US$ Mn) Forecast by Price Range, 2017-2032
Table 34: MEA Market Volume (Units) Forecast by Price Range, 2017-2032
Table 35: MEA Market Value (US$ Mn) Forecast by End-Use, 2017-2032
Table 36: MEA Market Volume (Units) Forecast by End-Use, 2017-2032
Figure 1: Global Market Value (US$ Mn) by Price Range, 2022-2032
Figure 2: Global Market Value (US$ Mn) by End-Use, 2022-2032
Figure 3: Global Market Value (US$ Mn) by Region, 2022-2032
Figure 4: Global Market Value (US$ Mn) Analysis by Region, 2017-2032
Figure 5: Global Market Volume (Units) Analysis by Region, 2017-2032
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2022-2032
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2022-2032
Figure 8: Global Market Value (US$ Mn) Analysis by Price Range, 2017-2032
Figure 9: Global Market Volume (Units) Analysis by Price Range, 2017-2032
Figure 10: Global Market Value Share (%) and BPS Analysis by Price Range, 2022-2032
Figure 11: Global Market Y-o-Y Growth (%) Projections by Price Range, 2022-2032
Figure 12: Global Market Value (US$ Mn) Analysis by End-Use, 2017-2032
Figure 13: Global Market Volume (Units) Analysis by End-Use, 2017-2032
Figure 14: Global Market Value Share (%) and BPS Analysis by End-Use, 2022-2032
Figure 15: Global Market Y-o-Y Growth (%) Projections by End-Use, 2022-2032
Figure 16: Global Market Attractiveness by Price Range, 2022-2032
Figure 17: Global Market Attractiveness by End-Use, 2022-2032
Figure 18: Global Market Attractiveness by Region, 2022-2032
Figure 19: North America Market Value (US$ Mn) by Price Range, 2022-2032
Figure 20: North America Market Value (US$ Mn) by End-Use, 2022-2032
Figure 21: North America Market Value (US$ Mn) by Country, 2022-2032
Figure 22: North America Market Value (US$ Mn) Analysis by Country, 2017-2032
Figure 23: North America Market Volume (Units) Analysis by Country, 2017-2032
Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2022-2032
Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2022-2032
Figure 26: North America Market Value (US$ Mn) Analysis by Price Range, 2017-2032
Figure 27: North America Market Volume (Units) Analysis by Price Range, 2017-2032
Figure 28: North America Market Value Share (%) and BPS Analysis by Price Range, 2022-2032
Figure 29: North America Market Y-o-Y Growth (%) Projections by Price Range, 2022-2032
Figure 30: North America Market Value (US$ Mn) Analysis by End-Use, 2017-2032
Figure 31: North America Market Volume (Units) Analysis by End-Use, 2017-2032
Figure 32: North America Market Value Share (%) and BPS Analysis by End-Use, 2022-2032
Figure 33: North America Market Y-o-Y Growth (%) Projections by End-Use, 2022-2032
Figure 34: North America Market Attractiveness by Price Range, 2022-2032
Figure 35: North America Market Attractiveness by End-Use, 2022-2032
Figure 36: North America Market Attractiveness by Country, 2022-2032
Figure 37: Latin America Market Value (US$ Mn) by Price Range, 2022-2032
Figure 38: Latin America Market Value (US$ Mn) by End-Use, 2022-2032
Figure 39: Latin America Market Value (US$ Mn) by Country, 2022-2032
Figure 40: Latin America Market Value (US$ Mn) Analysis by Country, 2017-2032
Figure 41: Latin America Market Volume (Units) Analysis by Country, 2017-2032
Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2022-2032
Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2022-2032
Figure 44: Latin America Market Value (US$ Mn) Analysis by Price Range, 2017-2032
Figure 45: Latin America Market Volume (Units) Analysis by Price Range, 2017-2032
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Price Range, 2022-2032
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Price Range, 2022-2032
Figure 48: Latin America Market Value (US$ Mn) Analysis by End-Use, 2017-2032
Figure 49: Latin America Market Volume (Units) Analysis by End-Use, 2017-2032
Figure 50: Latin America Market Value Share (%) and BPS Analysis by End-Use, 2022-2032
Figure 51: Latin America Market Y-o-Y Growth (%) Projections by End-Use, 2022-2032
Figure 52: Latin America Market Attractiveness by Price Range, 2022-2032
Figure 53: Latin America Market Attractiveness by End-Use, 2022-2032
Figure 54: Latin America Market Attractiveness by Country, 2022-2032
Figure 55: Europe Market Value (US$ Mn) by Price Range, 2022-2032
Figure 56: Europe Market Value (US$ Mn) by End-Use, 2022-2032
Figure 57: Europe Market Value (US$ Mn) by Country, 2022-2032
Figure 58: Europe Market Value (US$ Mn) Analysis by Country, 2017-2032
Figure 59: Europe Market Volume (Units) Analysis by Country, 2017-2032
Figure 60: Europe Market Value Share (%) and BPS Analysis by Country, 2022-2032
Figure 61: Europe Market Y-o-Y Growth (%) Projections by Country, 2022-2032
Figure 62: Europe Market Value (US$ Mn) Analysis by Price Range, 2017-2032
Figure 63: Europe Market Volume (Units) Analysis by Price Range, 2017-2032
Figure 64: Europe Market Value Share (%) and BPS Analysis by Price Range, 2022-2032
Figure 65: Europe Market Y-o-Y Growth (%) Projections by Price Range, 2022-2032
Figure 66: Europe Market Value (US$ Mn) Analysis by End-Use, 2017-2032
Figure 67: Europe Market Volume (Units) Analysis by End-Use, 2017-2032
Figure 68: Europe Market Value Share (%) and BPS Analysis by End-Use, 2022-2032
Figure 69: Europe Market Y-o-Y Growth (%) Projections by End-Use, 2022-2032
Figure 70: Europe Market Attractiveness by Price Range, 2022-2032
Figure 71: Europe Market Attractiveness by End-Use, 2022-2032
Figure 72: Europe Market Attractiveness by Country, 2022-2032
Figure 73: Asia Pacific Market Value (US$ Mn) by Price Range, 2022-2032
Figure 74: Asia Pacific Market Value (US$ Mn) by End-Use, 2022-2032
Figure 75: Asia Pacific Market Value (US$ Mn) by Country, 2022-2032
Figure 76: Asia Pacific Market Value (US$ Mn) Analysis by Country, 2017-2032
Figure 77: Asia Pacific Market Volume (Units) Analysis by Country, 2017-2032
Figure 78: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2022-2032
Figure 79: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2022-2032
Figure 80: Asia Pacific Market Value (US$ Mn) Analysis by Price Range, 2017-2032
Figure 81: Asia Pacific Market Volume (Units) Analysis by Price Range, 2017-2032
Figure 82: Asia Pacific Market Value Share (%) and BPS Analysis by Price Range, 2022-2032
Figure 83: Asia Pacific Market Y-o-Y Growth (%) Projections by Price Range, 2022-2032
Figure 84: Asia Pacific Market Value (US$ Mn) Analysis by End-Use, 2017-2032
Figure 85: Asia Pacific Market Volume (Units) Analysis by End-Use, 2017-2032
Figure 86: Asia Pacific Market Value Share (%) and BPS Analysis by End-Use, 2022-2032
Figure 87: Asia Pacific Market Y-o-Y Growth (%) Projections by End-Use, 2022-2032
Figure 88: Asia Pacific Market Attractiveness by Price Range, 2022-2032
Figure 89: Asia Pacific Market Attractiveness by End-Use, 2022-2032
Figure 90: Asia Pacific Market Attractiveness by Country, 2022-2032
Figure 91: MEA Market Value (US$ Mn) by Price Range, 2022-2032
Figure 92: MEA Market Value (US$ Mn) by End-Use, 2022-2032
Figure 93: MEA Market Value (US$ Mn) by Country, 2022-2032
Figure 94: MEA Market Value (US$ Mn) Analysis by Country, 2017-2032
Figure 95: MEA Market Volume (Units) Analysis by Country, 2017-2032
Figure 96: MEA Market Value Share (%) and BPS Analysis by Country, 2022-2032
Figure 97: MEA Market Y-o-Y Growth (%) Projections by Country, 2022-2032
Figure 98: MEA Market Value (US$ Mn) Analysis by Price Range, 2017-2032
Figure 99: MEA Market Volume (Units) Analysis by Price Range, 2017-2032
Figure 100: MEA Market Value Share (%) and BPS Analysis by Price Range, 2022-2032
Figure 101: MEA Market Y-o-Y Growth (%) Projections by Price Range, 2022-2032
Figure 102: MEA Market Value (US$ Mn) Analysis by End-Use, 2017-2032
Figure 103: MEA Market Volume (Units) Analysis by End-Use, 2017-2032
Figure 104: MEA Market Value Share (%) and BPS Analysis by End-Use, 2022-2032
Figure 105: MEA Market Y-o-Y Growth (%) Projections by End-Use, 2022-2032
Figure 106: MEA Market Attractiveness by Price Range, 2022-2032
Figure 107: MEA Market Attractiveness by End-Use, 2022-2032
Figure 108: MEA Market Attractiveness by Country, 2022-2032
The global Wi-Fi smart thermostat market is projected to advance at a CAGR of 21.0% (2022 to 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 USD 17,231.0 million by 2032.
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