4Q 2018

Market Data: Advanced Thermostats

Residential Smart and Communicating Thermostats for Single-Family and Multifamily Buildings: Global Market Analysis and Forecasts

Since the last iteration of Navigant Research’s Smart Thermostats report in 2016, advanced thermostats have seen steady uptake and are reaching a higher level of market maturity. Google’s acquisition of Nest Labs for $3.2 billion in 2014 kick-started this market, and other high profile companies have followed suit into the residential thermostat space. Advanced thermostats are starting to become a staple in smart home solutions as consumers become increasingly aware of the benefits, utilities move from demonstration pilots to full programs, and vendors realize new business opportunities through data and analytics. Thermostats are also beginning to reach wider customer segments. Initiatives such as Nest’s Power Project are reaching low income customers and Vivint’s new Smart Properties business segment is adapting its smart home solution for rental properties.

Due to increased maturation, interesting market dynamics are taking place, such as bidirectional growth between thermostat types. Some companies are committing to more edge computing capabilities to create even smarter devices as component prices decline. Other brands are taking a step back from intelligence by releasing devices that are cheaper and more accessible to mainstream consumers. Navigant Research expects the relationship between smart and communicating thermostats to unfold differently based on regional dynamics. Smart thermostats are expected to be more popular in regions like North America and communicating thermostats will likely take the lead in regions like Asia Pacific.

This Navigant Research report examines the global market for advanced thermostats, including smart and communicating (connected) thermostats. The study provides an analysis of the market trends, including market drivers and barriers, associated with advanced thermostats. Global market forecasts, broken out by segment, region, and housing type, extend through 2027. The report also provides an update and adjustments to Navigant Research’s analysis to explore new developments in the advanced thermostat market.

Pages 24
Tables | Charts | Figures 37
  • What is the difference between a smart thermostat and a communicating (connected) thermostat?
  • What are the global drivers and barriers for advanced thermostats?
  • How quickly is the advanced thermostat market expected to grow by thermostat type?
  • How quickly is this market expected to grow by housing type (single family and multifamily)?
  • How quickly is this market expected to grow by region?
  • What are a few recommendations and best practices for stakeholders in the advanced thermostat market?
  • Thermostat manufacturers
  • Home energy management software providers
  • Smart home solutions providers
  • Connected device manufacturers
  • Energy monitoring companies
  • Energy suppliers/utilities
  • Investor community

1. Executive Summary

1.1    Introduction

1.2    Market Trends

1.3    Market Forecast

2. Market Trends

2.1    Technology Scope and Trends

2.2    Market Drivers

2.3    Market Barriers

3. Market Forecasts

3.1    Technology and Scope

3.2    Thermostat Penetration

3.3    Smart and Communicating Thermostat Forecasts

3.4    Regional Forecasts

3.4.1    North America

3.4.2    Europe

3.4.3    Asia Pacific

3.4.4    Latin America

3.4.5    Middle East & Africa

3.5    Forecasts by Housing Type

3.6    Conclusions and Recommendations

4. Acronym and Abbreviation List

5. Table of Contents

6. Table of Charts and Figures

7. Scope of Study, Sources and Methodology, Notes

  • Advanced Thermostat Device Revenue by Region, World Markets: 2018-2027
  • Thermostat Penetration by Type, World Markets: 2018-2027
  • Smart Thermostat Device Revenue by Region, World Markets: 2018-2027
  • Communicating Thermostat Device Revenue by Region, World Markets: 2018-2027
  • Advanced Thermostat Device Revenue by Segment, North America: 2018-2027
  • Advanced Thermostat Device Revenue by Segment, Europe: 2018-2027
  • Advanced Thermostat Device Revenue by Segment, Asia Pacific: 2018-2027
  • Advanced Thermostat Device Revenue by Segment, Latin America: 2018-2027
  • Advanced Thermostat Device Revenue by Segment, Middle East & Africa: 2018-2027
  • Advanced Thermostat Device Shipments by Housing Type, World Markets: 2018-2027
  • Smart Thermostat Device Shipments by Region, World Markets: 2018-2027
  • Communicating Thermostat Device Shipments by Region, World Markets: 2018-2027
  • Thermostat Penetration by Type, World Markets: 2018-2027
  • Advanced Thermostat Device Shipments by Region, World Markets: 2018-2027
  • Advanced Thermostat Device Revenue by Region, World Markets: 2018-2027
  • Smart Thermostat Device Shipments by Region, World Markets: 2018-2027
  • Smart Thermostat Device Revenue by Region, World Markets: 2018-2027
  • Communicating Thermostat Device Shipments by Region, World Markets: 2018-2027
  • Communicating Thermostat Device Revenue by Region, World Markets: 2018-2027
  • Advanced Thermostat Device Revenue by Segment, World Markets: 2018-2027
  • Advanced Thermostat Device Revenue by Segment, North America: 2018-2027
  • Advanced Thermostat Device Revenue by Segment, Europe: 2018-2027
  • Advanced Thermostat Device Revenue by Segment, Asia Pacific: 2018-2027
  • Advanced Thermostat Device Revenue by Segment, Latin America: 2018-2027
  • Advanced Thermostat Device Revenue by Segment, Middle East & Africa: 2018-2027
  • Advanced Thermostat Device Shipments by Housing Type, World Markets: 2018-2027
  • Advanced Thermostat Device Shipments by Housing Type, North America: 2018-2027
  • Advanced Thermostat Device Shipments by Housing Type, Europe: 2018-2027
  • Advanced Thermostat Device Shipments by Housing Type, Asia Pacific: 2018-2027
  • Advanced Thermostat Device Shipments by Housing Type, Latin America: 2018-2027
  • Advanced Thermostat Device Shipments by Housing Type, Middle East & Africa: 2018-2027
  • Advanced Thermostat Device Revenue by Housing Type, World Markets: 2018-2027
  • Advanced Thermostat Device Revenue by Housing Type, North America: 2018-2027
  • Advanced Thermostat Device Revenue by Housing Type, Europe: 2018-2027
  • Advanced Thermostat Device Revenue by Housing Type, Asia Pacific: 2018-2027
  • Advanced Thermostat Device Revenue by Housing Type, Latin America: 2018-2027
  • Advanced Thermostat Device Revenue by Housing Type, Middle East & Africa: 2018-2027
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