Southeast Asia Smart Thermostat Market: Trends, Growth

Southeast Asia Smart Thermostat Market Research Report: Forecast (2024-2030)

Southeast Asia Smart Thermostat Market Report - By Product Type (Motion Sensor Thermostat, Geofencing Thermostat, Learning Algorithm Thermostat), By Technology (Wireless, (Bluetooth, Wi-Fi, ZigBee, Z-... ... h, Wi-Fi, ZigBee, Z-Wave), Wired), By Component (Sensor, (Temperature Sensor, Motion Sensors, Humidity Sensors), Display, Others)), By End Users (Residential, Industrial, Commercial, Hospitality, Education, Government, Healthcare, Others), By Demand Type (New Installation, Retrofitting), and Others Read more

ICT & Electronics
Jun 2024
Pages 149
Report Format: PDF, Excel, PPT

Market Definition

A smart thermostat is a digitally programmable system that remotely controls the heating & cooling within buildings, including commercial offices, residential apartments & industries. These systems help the consumers to adjust the temperature settings within the premises based on their preferences.

Market Insights & Analysis: Southeast Asia Smart Thermostat Market (2024-30):

The Southeast Asia Smart Thermostat Market size is valued at USD 275 million in 2023 & is estimated to reach USD 752 million by 2030. Along with this, the market is estimated to grow at a CAGR of around 16.54% during the forecast period, i.e., 2024-30. The factors attributing to the surge in the demand for the smart thermostat are a rising inclination towards energy-conservation & management systems, a growing focus towards economically viable energy solutions, rising home automation, and the development of smart commercial as well as industrial buildings.

The geographical location, i.e., the presence of the sea around the region, creates a humid environment for the countries. Based on the statistics by the World Bank Climate Change Knowledge Portal, precipitation in Jakarta varies from 61% to around 95%. Similar to this, the average annual percentage of humidity is around 78% in Vietnam. This higher presence of moisture in the air causes dehydration, heat exhaustion, and other respiratory problems among the inhabitants. Therefore, the consumers in the region tend to install thermostat humidifiers within the buildings to maintain optimum humidity indoors, supporting the Southeast Asia Smart Thermostat Market.

Report Coverage	Details
Study Period	Historical Data: 2019-22
	Base Year: 2023
	Forecast Period: 2024-30
CAGR (2024-2030)	16.54%
Country Covered	Indonesia Vietnam, Malaysia, Singapore, Thailand, The Philippines, Rest of Southeast Asia
Key Companies Profiled	Honeywell International Inc., Nest Labs, Inc., Johnson Controls International plc, Schneider Electric SE, Emerson Electric Co., Siemens AG, Daikin Industries, Ltd., Carrier Global Corporation, Ecobee, Inc., Resideo Technologies, Inc., and Other
Market Value In (2023)	USD 275 Million
Market Value By (2030)	USD 752 Million

Moreover, Southeast Asian countries, like Indonesia, Vietnam & Singapore rely heavily on imported oil for power generation. As per the statistics by the International Energy Agency, almost 61% of the electricity produced in Indonesia is due to coal-fired power plants. Similarly, other nations, like the Philippines, Thailand, etc., also use coal, oil & natural gas. These countries majorly import commodities, like coal & crude oil from the Middle Eastern nations & the US. Therefore, the disruption in the supply chain caused due to geopolitical tensions and currency devaluation is hampering the oil flow within these nations and leading to an energy crisis. Thus, to eradicate these emerging power issues, customers are increasingly looking for energy-conserving solutions, like smart thermostats, thus uplifting market growth.

Additionally, the electricity tariff in the Southeast Asian countries is increasing substantially. For instance, in 2023, the Vietnamese Government increased the price of electricity for commercial end users by 4.5% as compared to 2022. Similar to this, the Indonesian government also increased the electricity tariff from 17.6% to 36.6% for commercial buildings & medium households. This is resulting in higher utility bills for the customers, including industrial as well as commercial. Therefore, the different industry verticals are incorporating solutions, like a smart thermostat that helps in consistent monitoring of the appliances & results in power saving, thus aiding in enhancing the market size in the future years.

Market Segmentation
Introduction
1. Product Definition
2. Research Process
3. Assumptions
Executive Summary
Southeast Asia Smart Thermostat Market Pricing Analysis, By Product Type, 2024
Southeast Asia Smart Thermostat Market Dynamics
1. Drivers
2. Challenges
Southeast Asia Smart Thermostat Market Trends & Developments
Southeast Asia Smart Thermostat Market Hotspot and Opportunities
Southeast Asia Smart Thermostat Market Regulations, Policies & Product Standards
Southeast Asia Smart Thermostat Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Product Type
    1. Motion Sensor Thermostat- Market Size & Forecast 2019-2030, USD Million
    2. Geofencing Thermostat- Market Size & Forecast 2019-2030, USD Million
    3. Learning Algorithm Thermostat- Market Size & Forecast 2019-2030, USD Million
  2. By Technology
    1. Wireless- Market Size & Forecast 2019-2030, USD Million
      1. Bluetooth- Market Size & Forecast 2019-2030, USD Million
      2. Wi-Fi - Market Size & Forecast 2019-2030, USD Million
      3. ZigBee - Market Size & Forecast 2019-2030, USD Million
      4. Z-Wave- Market Size & Forecast 2019-2030, USD Million
    2. Wired- Market Size & Forecast 2019-2030, USD Million
  3. By Component
    1. Sensor- Market Size & Forecast 2019-2030, USD Million
      1. Temperature Sensor- Market Size & Forecast 2019-2030, USD Million
      2. Motion Sensors- Market Size & Forecast 2019-2030, USD Million
      3. Humidity Sensors- Market Size & Forecast 2019-2030, USD Million
    2. Display- Market Size & Forecast 2019-2030, USD Million
    3. Others- Market Size & Forecast 2019-2030, USD Million
  4. By End Users
    1. Residential - Market Size & Forecast 2019-2030, USD Million
    2. Industrial- Market Size & Forecast 2019-2030, USD Million
    3. Commercial- Market Size & Forecast 2019-2030, USD Million
    4. Hospitality- Market Size & Forecast 2019-2030, USD Million
    5. Education- Market Size & Forecast 2019-2030, USD Million
    6. Government - Market Size & Forecast 2019-2030, USD Million
    7. Healthcare- Market Size & Forecast 2019-2030, USD Million
    8. Others- Market Size & Forecast 2019-2030, USD Million
  5. By Demand Type
    1. New Installation- Market Size & Forecast 2019-2030, USD Million
    2. Retrofitting- Market Size & Forecast 2019-2030, USD Million
  6. By Country
    1. Indonesia
    2. Vietnam
    3. Malaysia
    4. Singapore
    5. Thailand
    6. The Philippines
    7. Rest of Southeast Asia
  7. By Competition
    1. Competition Characteristics
    2. Market Share & Analysis
Indonesia Smart Thermostat Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Size & Analysis
  1. By Product Type- Market Size & Forecast 2019-2030, USD Million
  2. By Technology- Market Size & Forecast 2019-2030, USD Million
  3. By Component- Market Size & Forecast 2019-2030, USD Million
  4. By End Users - Market Size & Forecast 2019-2030, USD Million
  5. By Demand Type- Market Size & Forecast 2019-2030, USD Million
Vietnam Smart Thermostat Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Size & Analysis
  1. By Product Type- Market Size & Forecast 2019-2030, USD Million
  2. By Technology- Market Size & Forecast 2019-2030, USD Million
  3. By Component- Market Size & Forecast 2019-2030, USD Million
  4. By End Users - Market Size & Forecast 2019-2030, USD Million
  5. By Demand Type- Market Size & Forecast 2019-2030, USD Million
Malaysia Smart Thermostat Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Size & Analysis
  1. By Product Type- Market Size & Forecast 2019-2030, USD Million
  2. By Technology- Market Size & Forecast 2019-2030, USD Million
  3. By Component- Market Size & Forecast 2019-2030, USD Million
  4. By End Users - Market Size & Forecast 2019-2030, USD Million
  5. By Demand Type- Market Size & Forecast 2019-2030, USD Million
Singapore Smart Thermostat Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Size & Analysis
  1. By Product Type- Market Size & Forecast 2019-2030, USD Million
  2. By Technology- Market Size & Forecast 2019-2030, USD Million
  3. By Component- Market Size & Forecast 2019-2030, USD Million
  4. By End Users - Market Size & Forecast 2019-2030, USD Million
  5. By Demand Type- Market Size & Forecast 2019-2030, USD Million
Thailand Smart Thermostat Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Size & Analysis
  1. By Product Type- Market Size & Forecast 2019-2030, USD Million
  2. By Technology- Market Size & Forecast 2019-2030, USD Million
  3. By Component- Market Size & Forecast 2019-2030, USD Million
  4. By End Users - Market Size & Forecast 2019-2030, USD Million
  5. By Demand Type- Market Size & Forecast 2019-2030, USD Million
Thailand Smart Thermostat Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Size & Analysis
  1. By Product Type- Market Size & Forecast 2019-2030, USD Million
  2. By Technology- Market Size & Forecast 2019-2030, USD Million
  3. By Component- Market Size & Forecast 2019-2030, USD Million
  4. By End Users - Market Size & Forecast 2019-2030, USD Million
  5. By Demand Type- Market Size & Forecast 2019-2030, USD Million
Southeast Asia Smart Thermostat Market Key Strategic Imperatives for Success & Growth
Competitive Outlook
1. Company Profiles
  1. Honeywell International Inc.
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  2. Nest Labs, Inc.
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  3. Johnson Controls International plc
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  4. Schneider Electric SE
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  5. Emerson Electric Co.
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  6. Siemens AG
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  7. Daikin Industries, Ltd.
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  8. Carrier Global Corporation
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  9. Ecobee, Inc.
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  10. Resideo Technologies, Inc.
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  11. Others
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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