Global Smart Thermostat Market Report By Technology (Wi-Fi, ZigBee, Others (Near Field Communication (NFC), Bluetooth, and Ethernet) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2020-2027

August 2021
Report Formats:
Global Smart Thermostat Market Overview
The key driver impacting the Smart thermostat market is the growing adoption of smart homes. For instance, As per the National Council for home security and safety, the U.S. smart house market alone will approach 40 billion USD by 2020. About 3/5 of the buyers of smart home products buy smart products in order to check their house via smartphone. Around 63% of buyers wanted to buy smart locks and alarms, smart thermostats, and fans, 58% want smart lighting, and about 56% want nightlights and carbon monoxide detectors. The huge adoption of smart home voice assistants is surging the market growth. Moreover, the emergence of IoT-enabled HVAC systems contributes to Smart thermostat market demand in the later years.
According to Value Market Research, the global Smart thermostat market size was valued at about USD 2.11 billion in 2020 and is estimated to grow at a CAGR of around 19% during the forecast period 2021 to 2027.

The Government regulations pertaining to increase the energy efficiency of buildings will likely augment Smart thermostat demand in the forecast period. Also, the climb in the average energy expenditure and the call for remote access solutions to control and monitor energy consumption is encouraging market demand. However, the high manufacturing and installation costs of smart thermostats hamper the market in the long run. In addition, concerns regarding data security create a considerable challenge to the market growth. Nonetheless, the market trends, such as the rising demand for self-learning devices and increasing demand for cloud computing in the HVAC industry, might provide considerable opportunities to the market's leading players.

The Smart thermostat market is widespread, with many local and international players. The market leaders follow diverse strategies such as amalgamation, extending product portfolio, acquisitions, contracts, product upgrades to strengthen their market share globally. The key players in the report are Google Nest, Honeywell, Ecobee, Schneider Electric, Radio Thermostat Company of America, Ingersoll Rand (Trane), Emerson, Climate Technologies Carrier Corporation Allure Energy Inc., Eneco, Tado GmbH, Lux Products Corporation, and British Gas Hive.

Global Smart Thermostat Market Share

In this research report, the Smart thermostat market is segmented by technology and region. 

Analysis by Technology:

By technology, the report is segmented into Wi-Fi, ZigBee, and Others (Near Field Communication (NFC), Bluetooth, and Ethernet). The ZigBee segment dominates the technology segment with the highest share in 2020. It is due to the increasing consumers’ shift toward home automation devices. Moreover, the various advantages such as low power consumption and considerably reasonably priced and easy form of implementation contribute to the growth of the live attenuated vaccines segment. 

Analysis by Region:  
In the regional overview of the global Smart thermostat market, the North America and Europe region dominate with the largest market share of 91% in 2020. It is due to the high demand for such devices in the region and favorable government mandates in Europe. There is rising demand for managing energy consumption solutions and a wide distribution network of key vendors in the North America region. Moreover, the rise in construction activities and the rising popularity of smart homes contribute to the tremendous market growth across the North America and Europe region.

Market Segmentation covered in the Report:
By Technology
  • Wi-Fi
  • ZigBee
  • Others (Near Field Communication (NFC), Bluetooth, and Ethernet)
By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa


This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications. 

If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.        

       1.1. Report Description
           1.1.1. Objective
           1.1.2. Target Audience
           1.1.3. Unique Selling Proposition (USP) & offerings
       1.2. Research Scope
       1.3. Research Methodology
           1.3.1. Market Research Process
           1.3.2. Market Research Methodology
       2.1. Highlights of Market
       2.2. Global Market Snapshot
       3.1. Introduction - Market Dynamics
       3.2. Market Drivers
       3.3. Market Restraints
       3.4. Opportunities
       3.5. Industry Trends
       3.6. Porter’s Five Force Analysis
       3.7. Market Attractiveness Analysis
           3.7.1 By Technology
           3.7.2 By Region
       4.1. Value Chain Analysis
       4.2. Raw Material Analysis
           4.2.1. List of Raw Materials
           4.2.2. Raw Material Manufactures List
           4.2.3. Price Trend of Key Raw Materials
       4.3. List of Potential Buyers
       4.4. Marketing Channel
           4.4.1. Direct Marketing
           4.4.2. Indirect Marketing
           4.4.3. Marketing Channel Development Trend
       5.1. Impact Analysis of Covid-19 Outbreak
           5.1.1. Direct Impact on Production
           5.1.2. Supply Chain and Market Disruption
           5.1.3. Financial Impact on Firms and Financial Markets
       5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
       5.3. Market: Pre V/S Post COVID-19
       5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
       5.5. COVID-19: Micro and Macro Factor Analysis
       6.1 Overview by Technology
       6.2 Historical and Forecast Data
       6.3 Analysis by Technology
       6.4 Wi-Fi Market by Regions
       6.5 ZigBee Market by Regions
       6.6 Others Market by Regions
       7.1. Regional Outlook
       7.2. Introduction
       7.3. North America
           7.3.1. Overview, Historic and Forecast Data
           7.3.2. North America By Segment
           7.3.3. North America By Country
           7.3.4. United State
           7.3.5. Canada
           7.3.6. Mexico
       7.4. Europe
           7.4.1. Overview, Historic and Forecast Data
           7.4.2. Europe by Segment
           7.4.3. Europe by Country
           7.4.4. United Kingdom
           7.4.5. France
           7.4.6. Germany
           7.4.7. Italy
           7.4.8. Russia
           7.4.9. Rest Of Europe
       7.5. Asia Pacific
           7.5.1. Overview, Historic and Forecast Data
           7.5.2. Asia Pacific by Segment
           7.5.3. Asia Pacific by Country
           7.5.4. China
           7.5.5. India
           7.5.6. Japan
           7.5.7. South Korea
           7.5.8. Australia
           7.5.9. Rest Of Asia Pacific
       7.6. Latin America
           7.6.1. Overview, Historic and Forecast Data
           7.6.2. Latin America by Segment
           7.6.3. Latin America by Country
           7.6.4. Brazil
           7.6.5. Argentina
           7.6.6. Peru
           7.6.7. Chile
           7.6.8. Rest of Latin America
       7.7. Middle East & Africa
           7.7.1. Overview, Historic and Forecast Data
           7.7.2. Middle East & Africa by Segment
           7.7.3. Middle East & Africa by Country
           7.7.4. Saudi Arabia
           7.7.5. UAE
           7.7.6. Israel
           7.7.7. South Africa
           7.7.8. Rest Of Middle East And Africa
       8.1. Smart Thermostat Market Competition
       8.2. Partnership/Collaboration/Agreement
       8.3. Merger And Acquisitions
       8.4. New Product Launch
       8.5. Other Developments
       9.1. Company Share Analysis
       9.2. Market Concentration Rate
       9.3. Google Nest
           9.3.1. Company Overview
           9.3.2. Financials
           9.3.3. Products
           9.3.4. Recent Developments
       9.4. Honeywell
           9.4.1. Company Overview
           9.4.2. Financials
           9.4.3. Products
           9.4.4. Recent Developments
       9.5. Ecobee
           9.5.1. Company Overview
           9.5.2. Financials
           9.5.3. Products
           9.5.4. Recent Developments
       9.6. Schneider Electric
           9.6.1. Company Overview
           9.6.2. Financials
           9.6.3. Products
           9.6.4. Recent Developments
       9.7. Radio Thermostat Company of America
           9.7.1. Company Overview
           9.7.2. Financials
           9.7.3. Products
           9.7.4. Recent Developments
       9.8. Ingersoll Rand (Trane)
           9.8.1. Company Overview
           9.8.2. Financials
           9.8.3. Products
           9.8.4. Recent Developments
       9.9. Emerson
           9.9.1. Company Overview
           9.9.2. Financials
           9.9.3. Products
           9.9.4. Recent Developments
       9.10. Climate Technologies Carrier Corporation Allure Energy Inc.
           9.10.1. Company Overview
           9.10.2. Financials
           9.10.3. Products
           9.10.4. Recent Developments
       9.11. Eneco
           9.11.1. Company Overview
           9.11.2. Financials
           9.11.3. Products
           9.11.4. Recent Developments
       9.12. Tado GmbH
           9.12.1. Company Overview
           9.12.2. Financials
           9.12.3. Products
           9.12.4. Recent Developments
       9.13. Lux Products Corporation
           9.13.1. Company Overview
           9.13.2. Financials
           9.13.3. Products
           9.13.4. Recent Developments
       9.14. British Gas Hive.
           9.14.1. Company Overview
           9.14.2. Financials
           9.14.3. Products
           9.14.4. Recent Developments
 *Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies

  • Market Snapshot
  • Drivers : Impact Analysis
  • Restraints : Impact Analysis
  • List of Raw Material
  • List of Raw Material Manufactures
  • List of Potential Buyers
  • COVID-19 Impact Analysis by Production, Import, Export and Demand
  • Pre V/S Post COVID-19
  • Estimated Impact Of The Coronavirus (Covid-19) Epidemic
  • COVID-19: Micro and Macro Factor Analysis
  • Analysis by Technology (USD MN)
  • Wi-Fi Market by Geography (USD MN)
  • ZigBee Market by Geography (USD MN)
  • Others Market by Geography (USD MN)
  • Global Smart Thermostat Market by Geography (USD MN)
  • North America Market Analysis (USD MN)
  • United State Market Analysis (USD MN)
  • Canada Market Analysis (USD MN)
  • Mexico Market Analysis (USD MN)
  • Europe Market Analysis (USD MN)
  • Europe Market Estimate by Country (USD MN)
  • United Kingdom Market Analysis (USD MN)
  • France Market Analysis (USD MN)
  • Germany Market Analysis (USD MN)
  • Italy Market Analysis (USD MN)
  • Russia Market Analysis (USD MN)
  • Spain Market Analysis (USD MN)
  • Rest of Europe Market Analysis (USD MN)
  • Asia Pacific Market Analysis (USD MN)
  • China Market Analysis (USD MN)
  • Japan Market Analysis (USD MN)
  • India Market Analysis (USD MN)
  • South Korea Market Analysis (USD MN)
  • Australia Market Analysis (USD MN)
  • Rest of Asia Pacific Market Analysis (USD MN)
  • Latin America Market Analysis (USD MN)
  • Brazil Market Analysis (USD MN)
  • Argentina Market Analysis (USD MN)
  • Peru Market Analysis (USD MN)
  • Chile Market Analysis (USD MN)
  • Rest of Latin America Market Analysis (USD MN)
  • Middle East & Africa Market Analysis (USD MN)
  • Saudi Arabia Market Analysis (USD MN)
  • UAE Market Analysis (USD MN)
  • Israel Market Analysis (USD MN)
  • South Africa Market Analysis (USD MN)
  • Rest of Middle East and Africa Market Analysis (USD MN)
  • Partnership/Collaboration/Agreement
  • Mergers And Acquisiton
  • Research Scope of Smart Thermostat Report
  • Market Research Process
  • Market Research Methodology
  • Global Smart Thermostat Market Size, by Region (USD MN)
  • Porters Five Forces Analysis
  • Market Attractiveness Analysis by Technology
  • Market Attractiveness Analysis by Region
  • Value Chain Analysis
  • Global Market Analysis by Technology (USD MN)
  • Wi-Fi Market by Geography (USD MN)
  • ZigBee Market by Geography (USD MN)
  • Others Market by Geography (USD MN)
  • Global Market by Revenue
  • North America Market by Revenue
  • Europe Market by Revenue
  • Asia Pacific Market by Revenue
  • Latin America Market by Revenue
  • Middle East & Africa Market by Revenue
  • Recent Development in Industry
  • Company Market Share Analysis, 2020
 * Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.

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Objectives of Study

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