Smart Thermostat Market Assessment 2023

Description

‘Smart Product Market Assessments’ provide a comprehensive and deep analysis of a single smart product market. Parks Associates analysts identify key markets drivers and barriers and assess market growth via topline market forecasts.

This research includes consumer data for smart thermostats, including trending data across years and deep dive questions on product usage, pain points, and preferences.

Key Questions Answered:

What are the key brands in the smart thermostat market?

What trends are smart thermostat players following?

How do smart thermostat KPIs such as familiarity, perceived value, affordability, and age of installed base compare to previous years?

What segments represent opportunity for smart thermostat players?

Considering all of the above, what are unit and revenue forecasts for the smart thermostat category?

Survey Methodology and Definitions

Defining Smart Thermostats

Key Terms and Definitions

Executive Summary

Smart Thermostat Ownership
High Intention to Buy
Smart Thermostat Adoption Broken-out by Tech Affinity
Brand Owned
Purchase Type Among Those Who Bought in Last 12 Months
Motivation for Purchasing a Smart Thermostat
Owner/User Perceptions Regarding Energy Cost Savings
Estimated Monthly Savings by Smart Thermostat Owner/Users
Smart Thermostat: Installation Method
Smart Thermostat Individual Purchase vs Bundle
Likelihood of Paying for Service Among Smart Thermostat Owners and Intenders

Industry Landscape and Forecast

Latest Smart Thermostat Models and Pricing
Smart Thermostat: Brand Share
Brand Purchased: Smart Thermostat
Brand Considered: Smart Thermostat
Smart Thermostat: Average Selling Price
Q4/2022 Price Segments
Market Forces Impacting Smart Thermostat Adoption
Key Industry Trends
Market Forces Impacting Smart Device Market Sizing and Forecasts
US Forecast - Smart Thermostats: Annual Unit Sales (#M)
US Revenue Forecast - Smart Thermostats: Annual Sales Revenue at End-user Value ($M)

Industry Trends

Market Awareness, Perception, and Adoption

Smart Home Device Ownership
Smart Thermostat Ownership
Top 5 Smart Home Device Adoption
Smart Thermostat Segments
Smart Thermostat Segments by Demographics
Smart Thermostat Segments by Housing Factors
Smart Thermostat Ownership by Tech Affinity
Diffusion of Innovation: Tech Adopter Segments
Smart Thermostat: High Familiarity, Perceived Value, and Affordability
Age of Smart Thermostat

Smart Thermostat Purchases

Smart Thermostat Purchases
Smart Thermostat Purchases and Intentions to Buy
Smart Thermostat Acquisition Method
Smart Thermostat Channel Rankings (2015 - 2022)
Smart Thermostat: Type of Purchase
Smart Thermostat: Factors Influencing Brand and Model Choices

Buyer Journey

Smart Thermostat Individual Purchase vs Bundle
Smart Thermostat Purchase and Ecosystem Integration Considerations
Important Features of Smart Thermostat Among Owners
Triggers for Purchasing a Smart Thermostat
Smart Thermostat vs. Traditional Thermostat Purchase Drivers
Motivation for Purchasing a Smart Thermostat

Usage Habits

Smart Thermostat: Installation Method
Smart Thermostat Use Frequency
Reasons for Rarely Interacting with Smart Thermostat
Use Habits of Smart Thermostat
Smart Thermostat Preferred Control Method
Included Features of Current Smart Thermostat
Typical Used Features of Smart Thermostat
Likelihood of Paying for Energy Monitoring Service Among Owners and Intenders
Consumer Perception Regarding Energy Saving
Monthly Energy Saving by Using Smart Thermostat
Estimated Monthly Savings by Smart Thermostat Owner/Users
Plans for Smart Thermostats When Moving Home

Potential Smart Thermostat Buyers

Overall Smart Thermostat Purchase Intention
Among Those Likely to Move in the next 6 months
Smart Thermostat Segments
Motivation for Purchasing a Smart Thermostat
Smart Thermostat Segments
Reasons for Not Purchasing a Smart Thermostat
Reasons for Not Purchasing Smart Thermostat by Age
Important Features of Smart Thermostat Among Intenders
Preferred Smart Thermostat Control Method Among Intenders
Factors Increasing Likelihood of Purchasing Smart Thermostat