Global WiFi Thermostats Market Research Report 2017

WiFi-Thermostat is an emerging product in smart home system. It is a home automation device that regulates temperature, humidity and fresh air. Compared to traditional thermostat, WiFi-Thermostat is Wi-Fi enabled, learning smart thermostat that uses remote sensors which allow the thermostat to improve its motion control around your house.
WiFi-Thermostat had attracted much attention since Nest launched its product, and there has formed a competitive situation by NEST, Honeywell and Ecobee since the year of 2014 when Nest was purchased by Google at 3.2 billion USD.
Global WiFi Thermostats Market Research Report 2017 States that the global WiFi Thermostats sales was about 1340 Million USD in 2016 and is expected to grow at a CAGR of more than 30% from 2017 to 2022.
The technical barrier of WiFi Thermostats is high, resulting in few companies in the market. Nest is the largest producer, accounting for almost 30% of output in 2016. Other relatively large companies are EcoBee, Honeywell, Emerson and Carrier. As for main production countries, it is estimated that North America accounted for more than 90% of global output in 2016, while Europe ranked second position with about 5% share.
For the reason that present WiFi thermostat are designed for U.S. single-family house, which adopts HVAC system, U.S.A. is always the major market of WiFi thermostats and it occupies more than 74% market share. Meanwhile, with the Google acquiring Nest, the globalization strategy of WiFi Thermostats should be implemented in recent years.
In the past few years, the price of Thermostats has decreased and we expect the price will slightly lower. However, the improvement of technologies, energy, transportation costs, employee wages, and equipment depreciation will play a significant role in promoting the cost of WiFi Thermostats.