Table of Contents
Booming Demand, Channel Diversification, and Business Model Innovation are Delivering Rapid Growth Across Europe
The European smart thermostats market has evolved as a part of building automation market, but it is expected to take a stand-alone position with very high levels of growth through 2019 and beyond. Driven by the arrival of new and creative suppliers and the high interest levels among customers for the management and control of home energy consumption, competition is fast intensifying. Connectivity, convergence, and the desire to manage heating and cooling costs will conspire to keep the market exciting. The successful participants will be those that can market their products to the mass market and move quickly to dominate the emerging sales channels and business models. The base year of the study is 2014, with forecasts up to 2019.
Market Size Snapshot
Smart thermostats market in Europe is valued at $ million through sale of units in 2014. Revenue and unit volumes are expected to witness a CAGR of % and % respectively during 2014–2019.
Currently, smart thermostats market is penetrated at % of total potential market, and it is expected to achieve % penetration by 2019.
Consistent declining price trend due to increasing demand, declining cost factors (software technology and hardware), and stiff competition will shift the average unit price from $ in 2014 to $ in 2019.
WiFi enabled smart thermostat is the most preferred technology that offers attractive market, especially for retrofit projects where re-wiring is complicated. This also brings easy and convenient remote access.
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