Frost Radar™: Global Smart Thermostats Market, 2020
Published on: 08-Sep-2020 | SKU: EN01203-GL-MR_24652

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Smart thermostats have changed the way home appliances are controlled for better living conditions. They learn about the heating and cooling preferences in a household and adjust settings automatically, and allow for access of real-time and historical data to optimize performance when a space is unoccupied.

The global smart thermostat market is on a growth trajectory. Revenue reached $2.03 billion in 2019; by 2025, Frost & Sullivan expects it to reach $4.81 billion, triggered by the penetration of smart home solutions and rising demand for energy- and cost-saving technologies. North America and Europe have been and will continue to be the top growth markets. Sales in the Asia-Pacific region and the Middle East will be concentrated in a few countries, including China, Japan, and the United Arab Emirates.

Manufacturers are developing home monitoring platforms (with smart thermostats as a central component) that can communicate with room sensors, security cameras, and door/window sensors to ensure occupant security. Market drivers include smart thermostats’ role in demand response and smart home automation devices, though cybersecurity and compatibility with legacy systems are persistent concerns.

The Frost Radar™ reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles on each of the companies in the Frost Radar™ based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.

Strategic Imperative

Growth Environment

Frost Radar™: Global Smart Thermostats Market

Frost Radar™: Competitive Environment

Cosa

Danfoss

Ecobee

Emerson

eQ-3

Geo

Hive

Honeywell

iDevices

Johnson Controls

Lux

Nest Labs

Netatmo

tado°

Zen Ecosystems

Strategic Insights

Significance of Being on the Frost Radar™

Frost Radar™ Empowers the CEO’s Growth Team

Frost Radar™ Empowers Investors

Frost Radar™ Empowers Customers

Frost Radar™ Empowers the Board of Directors

Frost Radar™: Benchmarking Future Growth Potential

Frost Radar™: Benchmarking Future Growth Potential

Frost Radar™: Benchmarking Future Growth Potential

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Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform

Growth Index

Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.

  • Market Share (previous 3 years)
    This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years.
  • Revenue Growth (previous 3 years)
    This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™.
  • Growth Pipeline
    This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities.
  • Vision and Strategy
    This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision?
  • Sales and Marketing
    This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.

Innovation Index

Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.

  • INNOVATION SCALABILITY
    This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals.
  • RESEARCH AND DEVELOPMENT
    This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline.
  • PRODUCT PORTFOLIO
    This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue.
  • MEGATRENDS LEVERAGE
    This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline.
  • CUSTOMER ALIGNMENT
    This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.

Significance of Being on the Frost Radar™

Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.

  • GROWTH POTENTIAL
    Your organization has significant future growth potential, which makes it a Company to Action.
  • BEST PRACTICES
    Your organization is well positioned to shape Growth Pipeline™ best practices in your industry.
  • COMPETITIVE INTENSITY
    Your organization is one of the key drivers of competitive intensity in the growth environment.
  • CUSTOMER VALUE
    Your organization has demonstrated the ability to significantly enhance its customer value proposition.
  • PARTNER POTENTIAL
    Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.

Have questions about this research or need deeper insights?
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A tailored session with you where we identify the:
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  • Growth Opportunities
  • Best Practices
  • Companies to Action

Impacting your company's future growth potential.

Smart thermostats have changed the way home appliances are controlled for better living conditions. They learn about the heating and cooling preferences in a household and adjust settings automatically, and allow for access of real-time and historical data to optimize performance when a space is unoccupied. The global smart thermostat market is on a growth trajectory. Revenue reached $2.03 billion in 2019; by 2025, Frost & Sullivan expects it to reach $4.81 billion, triggered by the penetration of smart home solutions and rising demand for energy- and cost-saving technologies. North America and Europe have been and will continue to be the top growth markets. Sales in the Asia-Pacific region and the Middle East will be concentrated in a few countries, including China, Japan, and the United Arab Emirates. Manufacturers are developing home monitoring platforms (with smart thermostats as a central component) that can communicate with room sensors, security cameras, and door/window sensors to ensure occupant security. Market drivers include smart thermostats role in demand response and smart home automation devices, though cybersecurity and compatibility with legacy systems are persistent concerns. The Frost Radar™ reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles on each of the companies in the Frost Radar™ based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
More Information
Deliverable Type Frost Radar
No Index No
Podcast No
Author Dennis Marcell Victor
Industries Environment
WIP Number K460-01-00-00-00
Is Prebook No
GPS Codes 9343-A4,GETE

Frost Radar™: Global Smart Thermostats Market, 2020

EnvironmentFrost Radar™: Global Smart Thermostats Market, 2020

A Benchmarking System to Spark Companies to Action—Innovation that Fuels New Deal Flow and Growth Pipelines

RELEASE DATE
08-Sep-2020
REGION
North America
Deliverable Type
Frost Radar
Research Code: K460-01-00-00-00
SKU: EN01203-GL-MR_24652
AvailableYesPDF Download
$4,950.00
In stock
SKU
EN01203-GL-MR_24652