Wi-Fi to Hold Over 40% Share of 8 Million Unit Smart Thermostat Market by 2018

The global smart thermostats market is expected to grow from 1.3 million in 2013 to 8 million unit shipments in 2018; a CAGR of 43%. Disruptive innovation in thermostats from new entrants such as Nest Labs, ecobee, and EcoFator has significantly raised the bar for product design and innovation in a device category that had seen little change over several decades. 

Smart thermostat global revenues are expected to see fivefold growth to reach $600 million by 2018. Currently, North America is the most lucrative market for smart thermostats, contributing more than half the worldwide total. Driving this region's dominant market share is a tech-savvy population adopting smart mobile devices packed with low-cost wireless sensors, an expanding install base of buildings connected with smart meters, home automation initiatives from Telco's and Cable companies, and a slowly recovering housing market. 

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