Residential Smart Thermostats Market 2021 Analysis by Top Manufacturers – Nest, Honeywell, EcoBee, Emerson, LUX/GEO, Carrier, Energate Inc

This report discusses many vital industry facets that influence Global Residential Smart Thermostats industry acutely which includes extensive study of competitive edge, latest advancements, region-wise industry environment, contemporary market and manufacturing trends, leading market contenders, and current consumption tendency of the end user. The report also oversees market size, market share, growth rate, revenue, and CAGR reported previously along with its forecast estimation. The impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for Sodium-ion Battery investments from 2021 till 2027.

Residential Smart Thermostats Market was valued at USD 988.7 million in 2020 and expected to reach USD 3396.36 million by 2026 and grow at a CAGR of 23.1% over the forecast period (2021-2026)

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The report also presents the market competition landscape and a corresponding detailed analysis of the major vendors/manufacturers in the market. The key manufacturers covered in this report: Nest, Honeywell, EcoBee, Emerson, LUX/GEO, Carrier, Energate Inc., Tado GmbH, Control4, Schneider Electric

Industry Recent Developments and Updates

Amazon launches a $60 smart thermostat-Amazon kicked off its big hardware event today by announcing a new smart thermostat. The company worked with Honeywell (and Resideo) to create the device, but is keeping its own branding on the product (rather than, say, Ring, Blink or any of the other smart home companies it owns). The device runs $60, though the company notes that many or even most homes will be able to buy it for a considerable discount with participating rebates.

VTech Introduces New Wireless Smart Thermostats for More Sustainable Properties-VTech Communications, Inc. today announced the E-Smart W960, a new advanced wireless thermostat. The E-Smart W960 is an easy to install wireless thermostat that offers hotels and resorts a new way to manage and minimize energy consumption.

Amazon Announces Smart Thermostat in Partnership With Honeywell Home-Amazon.com Inc. announced its first smart thermostat in partnership with Resideo Technologies Inc.’s Honeywell Home -- a potential competitor to Alphabet Inc.’s Google Nest.

Market Overview

These thermostats are termed as 'smart‘, due to the inherent capabilities of being able to communicate with IoT devices within a smart building, ability to learn with AI capabilities, active geo-fencing features, reduce energy consumption, and ability to communicate with emerging virtual private assistants. Smart thermostats refer to the devices that allow remote connectivity and can be managed through a handheld device, finding its applications in residential and commercial sectors. These thermostats can be wired and wireless with same features but different installation process.These are the devices that are connected and allow remote connectivity in the consumer sector.

According to the US Energy Information Administration (EIA), the global energy demand grows at 2.1 % per year to 2040 with the current stated policies scenario. The demand surge will raise the electricity share in 2040 to 24 %. The use of technologies, changes in government policies, developing economies and market conditions are driving the growth of low-carbon sources to maintain the environment levels. Electricity consumption has a direct effect on the carbon footprint as electricity generation requires the burning of non-renewable resources and leads to the carbon footprint.

Rapid infrastructure developments, improved standard of living, and increased focus on developing energy-efficient HVAC systems are fueling the growth of the smart thermostat market for new installation. Implementation of various government regulations to deploy energy-efficient HVAC systems and controls has resulted in the wide adoption of smart thermostats in new buildings. These factors have led to the higher growth of the new installation segment.

Residential Smart Thermostats Market Segmentation:

Breakdown Data by Type

Apartment

Single-family Home

Residential Smart Thermostats Breakdown Data by Application

WiFi Thermostats

ZigBee Thermostats

Others

Regional and Country-level Analysis

The report offers an exhaustive geographical analysis of the global Residential Smart Thermostats market, covering important regions, viz, North America, Europe, China, and Japan. It also covers key countries (regions), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc.

Strategic Points Covered in TOC:

The report focuses on global major leading industry players with information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. Upstream raw materials, equipment and downstream consumers analysis is also carried out. What's more, the Residential Smart Thermostats industry development trends and marketing channels are analyzed. Finally, the feasibility of new investment projects is assessed, and overall research conclusions are offered.

Residential Smart Thermostats market research includes the methodical description of the various factors such as the market growth and detailed information about the different company’s revenue, technological developments, production, and the various other strategic developments. The regional spaces of significant components, including the capacity, cost, price, technology, supplies, profit, and competition are analyzed.

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Residential Smart Thermostats Analysis and Strategies Carry Out as below:

The report elucidates a gist of the tried-and-tested as well as innovative strategies undertaken by potential stakeholders with regards to the marketing of the product.
The sales channels chosen (that include direct as well as indirect marketing) by the companies are briefly enumerated in the Residential Smart Thermostats market report.
The distributors of these products and a gist of the top-of-the-notch customers for the same are also encompassed in the study.
The report is inclusive of the pivotal driving forces influencing the commercialization landscape of the Residential Smart Thermostats market and their impact on the revenue scale of this business sphere.
The rising product demand from the key geographies as well as the pivotal applications and potential business arenas are also included in the Residential Smart Thermostats Market report.

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Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

Irfan Tamboli (Head of Sales) – Market Insights Reports
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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