Synopsis:

Internet-connected or "smart" thermostats are fundamental to a home energy management system. ON World's 2021-2022 surveys with 600 smart home users in North America and Europe found that three in five currently own a smart thermostat. Over 70% are planning to buy additional smart thermostats in the future.

While the COVID-19 pandemic has limited sales from 2020-2021, rising energy costs, demand for green solutions and accelerating new home construction will drive adoption for smart thermostats over the next six years. Key adoption drivers include lower priced models, software-enabled self-learning and demand response programs.

By 2028, global smart thermostat revenues will reach $7.3 billion up from $3.2 billion in 2020.

This research service is based on ongoing phone interviews and surveys with thousands of consumers and hundreds of retailers, home service providers and vendors as well as thousands of online product listings. It provides in-depth analysis and market sizing data on the rapidly growing smart home safety and security market.

Your customized data includes 6-year market size forecasts on smart home thermostats with breakdowns by variation (connected, learning), channel and country as well as online sales trends and survey data with consumers, professional installers and other stakeholders.

MARKET SIZE FORECASTS:

ON World's granular smart home market size forecasts are by product segment and other product feature variations with breakdowns by country and distribution channel. Our forecasts are continually updated and are customized to meet your specific needs.

ECOSYSTEM RESEARCH DATA:

ON World's smart home research data is based on surveys with 1500+ consumers and hundreds of retailers, professional installers and other service providers.

Our ongoing primary research on smart home products, services and technologies spans the whole smart home value chain including the following:

PRIMARY RESEARCH:

Every year, ON World surveys thousands of individuals in the smart home ecosystem including:

Device Manufacturers:


Allure Energy
Amazon
CentraLite Systems
Computime
Ecobee
Emerson
GE Lighting (Savant)
Google Nest
Netatmo
Radio Thermostat Company of America
Residential Control Systems (RCS)
Resideo (Honeywell brand)
Tado
Venstar

Software Platforms:

ABB
Alarm.com
Ayla Networks
Control4 (Snap One)
Crestron
EcoFactor
GreenWave Systems
Itron
Kitu System
Legrand
LG
Muzzley
Roc-Connect
Samsung SmartThings
Schneider Electric
Technicolor
Tendril
Xiaomi

Industry Alliances:

Service Providers & Retailers:

ADT
Amazon
Apple Stores
Bed Bath & Beyond
Best Buy
Canadian Tire
Centrica
Comcast
Home Depot
Lowe's
Menards
Staples
Target
Verizon
Vivint
Walmart

Forecast Summary
Forecast Scope
Methodology

I. Ecosystem Analysis

• Trends & Developments
• Market Forces & Drivers
• Economy/Industry Financials
• Market Segmentation
• Channels

II. Technologies & Standards

• Competing alternatives
• Emerging technology trends
• Zigbee
• Thread
• Matter
• Connectivity Standards Alliance (CSA)
• Open Connectivity Foundation (OCF)

III. Value System

• Product segmentation
• Market leaders
• Innovators/Disruptors
• In-depth investigation and analysis of top 40 companies that are having the biggest impact on the smart thermostat ecosystem today.
• Current offerings, products and services, pricing, differentiators
• Financials, partners, go-to-market strategy
• Standards supported, software, tools, integration, key features...

IV. Primary Research

Ecosystem Surveys:

Conduct surveys with ecosystem stakeholders to learn recent adoption trends, preferences and likelihood of future purchases.

Sample consumer survey questions:

• Number of Smart Home Products Owned
• Smart Home Energy Products Owned
• Other Smart Home Products Products Owned
• Primary Smart Home Adoption Driver
• When Purchased First Smart Thermostat
• Installation Method
• Installation Challenges
• When Likely to Adopt
• Planned Smart Home Energy Products
• Important/Most Important Features
• Preferred Brands
• Preferred Sales Channels
• Reasons for Not Adopting
• Maximum Spending

Other ecosystem stakeholders we regularly survey include retail sales reps, professional installers, home service providers, builders and vendors/suppliers.

Online Product Analysis:

Our proprietary database includes thousands of online smart home product listings and over a million consumer reviews that are continually categorized, filtered and analyzed.

V. Market Size Forecasts

• Product segmentation
• Region/channel segmentation
• Financials/industry trends
• Consumer confidence
• Professional services sales model
• Retail/in-store sales model
• Online sales model
• Unit shipments
• Average sale prices
• Equipment revenues