Homes with smart thermostats up 67% in 2016 in EU, NA

The number of North American and European homes with a smart thermostat grew by 67 percent to 10.1 million in 2016, according to data from Berg Insight.

The North American market recorded a 64 percent growth in the installed base of smart thermostats to 7.8 million. In Europe, the total number of homes with a smart thermostat grew by 77 percent year-on-year to reach 2.3 million. The number of homes with smart thermostats in Europe and North America is forecast to grow at a CAGR of 50 percent during the next five years to reach 78.1 million in 2021. North America will remain the largest market at the end of the forecast period with 43.4 million homes that have smart thermostats, whereas the installed base in Europe is expected to reach 34.7 million homes.

The North American smart thermostat market is led by Nest, Honeywell and Ecobee, joined by vendors such as Radio Thermostat Company of America and RCS that have gained traction especially in the whole-home system channel through partners such as ADT, Vivint and Alarm.com. In Europe, leading smart thermostat vendors include the European based eQ-3 and Centrica as well as the North American vendors Nest and Honeywell.

According to data from the same research company, the number smart homes in Europe and North America reached 30.3 million in 2016.