The future of the global digital thermostat market looks promising with opportunities in the commercial, residential, and industrial markets. The global digital thermostat market is expected to reach an estimated $17.8 billion by 2030 with a CAGR of 21.1% from 2024 to 2030. The major drivers for this market are growing adoption of smart home technologies, rising energy prices, and increasing urbanization and economic expansion.
Some of the key questions
answered in this exclusive report are:
Q.1. What are some of
the most promising, high-growth opportunities for the digital thermostat market
by installation type (new installation and retrofit installation), product type
(connected smart thermostat, learning smart thermostat, and standalone smart
thermostat), technology (wired and wireless), end use (commercial, residential,
and industrial), and region (North America, Europe, Asia Pacific, and the Rest
of the World)?
Q.2. Which segments will
grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and
why?
Q.4. What are the key
factors affecting market dynamics? What are the key challenges and business
risks in this market?
Q.5. What are the
business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of
the changing demands of customers in the market?
Q.8. What are the new
developments in the market? Which companies are leading these developments?
Q.9. Who are the major
players in this market? What strategic initiatives are key players pursuing for
business growth?
Q.10. What are some of
the competing products in this market and how big of a threat do they pose for
loss of market share by material or product substitution?
Q.11. What M&A
activity has occurred in the last 5 years and what has its impact been on the
industry?
Market Segmentation:
In this market, wired
and wireless are the major segments of digital thermostat market by technology.
Lucintel forecasts that wireless will remain the larger segment over the
forecast period due to the increasing demand for convenience and the growing
adoption of smart home technologies. Within this market, residential will
remain the largest segment over the forecast period due to growing demand for
HVAC systems supported by growth in residential construction activities.
North America will
remain the largest region over the forecast period due to the early adoption of
smart home technologies and the high demand for energy efficiency.
Nest, Honeywell, Ecobee,
Schneider Electric, Lennox International, Emerson, Carrier, Control4, Tado, and
Energate are the major suppliers in the digital thermostat market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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