Market concentration of Smart Thermostats industry is high. The key brands include Nest, Honeywell and EcoBee. Other key players are like Schneider Electric, Emerson, LUX/GEO, Carrier, Energate Inc., Tado GmbH, Control4, Netatmo, Hive Home.
The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow downward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.
The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins.
Smart thermostat is an emerging technology and this market has a potential for growth in various applications such as residential, industrial buildings, educational institutions, office buildings, retail, hospitality, and healthcare. The advanced features of smart thermostat, increasing demand for energy-saving devices, and the government initiative for energy saving provide an impetus for the adoption of smart thermostats all over the world. The application of this technology in residential buildings held the largest share of the market and commercial market sector is expected to grow at the highest CAGR between 2017 and 2025.
The Global Smart Thermostats Market Professional Survey Report 2018 report released by QYResearch provides the Smart Thermostats market status and outlook of global and major regions, from angles of manufacturers, regions, product types and end industries; this report analyzes the top manufacturers in global and major regions, and splits the Smart Thermostats market by product type and applications/end industries.
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