The shift in focus from increasing energy capacity to managing demand and energy conservation in high income economies has spurred the demand for innovative home energy management systems. Regional government policies and energy mandates are playing a pivotal role in creating consumer awareness and incentivizing adoption of energy efficient products. The recent success of feature-rich, multi-sensor smart thermostats has paved the way for an increasing number of smart thermostats being launched in the market from established players and more recent entrants.
This report provides an assessment of the fast-growing smart thermostat market with forecasts on smart thermostat shipments and revenues split by key regions and wireless connectivity standard. The report includes the analysis of the regional variations in the adoption of residential HVAC systems, as well as regional device and market regulations and their impact on the smart thermostat market.