European Smart Thermostat Market to Jump to $2.5 Billion in Five Years, Says Frost & Sullivan
The market currently stands at $150 million
LONDON — The European smart thermostat market is set to boom, driven by the 2020 targets on climate change and mandatory energy efficiency certification for buildings, according to a new analysis from Frost & Sullivan. The enforcement of minimum standards for high energy consuming products such as boilers as well as HVAC systems is also fueling opportunities for smart thermostats. The United Kingdom, Germany, and the Netherlands will account for a lion’s share of the market in Europe, while France will be the fastest growing.
Frost & Sullivan finds that the European smart thermostat market earned revenues of $152.5 million in 2014 and forecasts that this will jump to $2.57 billion by 2019.