The Market for Smart Thermostats

The Market for Smart Thermostats analyzes the market for smart programmable thermostats, including adoption and purchase trends, usage, distribution channels, and market share. It examines consumer perceptions of savings from the use of smart thermostats. It also examines the problems owners experience when setting up or using their device and the process of resolving these issues.

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About the Research

Previous Research

Energy Services in the Smart Home (Q1/15)

360 View: Energy Management, Smart Home, and Utility Programs (Q4/14)

Trends and Segments for Home Energy Management (Q3/14)

Digital Engagement of Consumers: Home Energy Management (Q3/14)

Home Energy Management Adopters (Q2/14)

Key Findings

Industry Insight


Overview of Smart Home Segmentation:

Segmentation Overview

Segmentation Methodology

Smart Home Segments (Q2/14)

Segment Demographic Profiles

Thermostat Offering, Messaging for Segments

Installed Base of Smart Thermostats:

Smart Thermostat Adoption (2014 - 2015)

Smart Thermostat Adoption by Segment (Q3/14)

Smart Thermostat: Stand-alone Device vs. Home Systems (2014 - 2015)

Stand-alone Smart Thermostat Installation (2014 - 2015)

Overview of Smart Thermostat Purchases:

Smart Thermostat Purchase Rate (2014)

Smart Thermostat: Average Selling Price (2014)

Reason to Purchase a Smart Thermostat (2014)

Method of Acquiring a Smart Thermostat (2014 - 2015)

Method of Purchasing a Smart Thermostat (2014)

Smart Thermostats: Purchase Location (2014)

Smart Thermostats: Top Five Brands Purchased in Year (2014)

Future Intention to Purchase a Smart Thermostat (2014 - 2015)

Intended Smart Thermostat: Stand-alone Device vs. Part of a System (2014)

Smart Thermostat Setup:

Smart Thermostat Usage (2014 - 2015)

Savings from Use of Smart Thermostats (Q4/14)

Amount Saved from Use of Smart Thermostats (Q4/14)

Type of App Used to Control Smart Thermostats (Q4/14)

Frequency of Device Problems (Q1/15)

Actions Taken to Resolve Technical Problems (Q1/15)

Resolution of Smart Thermostat Technical Problems (Q1/15)

Smart Thermostat Adopters with No Other Smart Home Devices:

Smart Thermostat Owners & the Adoption of Other Smart Home Devices (Q1/15)

Exclusive Ownership of Smart Thermostats by Smart Home Segment (Q1/15)

Exclusive Ownership of Smart Thermostats and Smart Home Device Purchase Intention (Q1/15)

Exclusive Ownership of Smart Thermostats and Smart Home Attitudes (Q1/15)

Demand for Premium Smart Thermostats:

Smart Thermostat: Preference for Basic vs. Advanced Model (Q2/14)

Preference for a Basic or Premium Smart Thermostat by Smart Home Segment (Q1/15)

Advanced Smart Thermostat: Likelihood of Replacing Functioning Unit (Q2/14)

Additional Research from Parks Associates

Publish Date: 2Q 2015

Slides: 73

Authored By:
John Barrett - Director of Consumer Analytics
Tom Kerber - Senior Director, IoT Strategy and Custom Research
Yilan Jiang - Senior Director of Consumer Analytics
David Mitchel - Research Analyst

Published by Parks Associates
© June 2015

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