The number of North American and European homes with a smart thermostat grew by 81 percent to 5.8 million in 2015, according to a new research report from Berg Insight. The North American market recorded a 78 percent growth in the installed base of smart thermostats to 4.5 million. In Europe, the total number of homes with a smart thermostat grew by 90 percent year-on-year to reach 1.4 million.
New research from Berg Insight of Gothenburg, in Sweden, shows that the number of homes in North American and Europe now equipped with smart thermostats is rising rapidly. Overall the sector grew by 81 per cent over the course of 2015 with uptake in North America increasing by 78 per cent and in Europe by 90 per cent year-on-year.They are impressive figures but it has to be a said that they begin from a very, very low user base. The reality is that at the moment North America has a mere 4.5 million smart thermostats deployed while Europe has just 1.4 million. All in all some 5.8 million smart thermostats are in use and that’s a miniscule number given the size of the two huge markets.Nonetheless, the smart home market is on the move and Berg Insight’s forecast is that that the number of homes in Europe and North America with smart thermostats will grow at a compound annual growth rate of 54.5 per cent over the next five years to reach an installed base of 51.1 million by 2020.Unsurprisingly Berg expects North America to remain the biggest market and has calculated that 32.2 million homes there will have smart thermostats by 2020 while Europe will have 18.9 million of them.
It is estimated that there are 240 million homes in Europe and of those around one million are equipped today with smart home solutions, mainly single-point i.e individual solutions such as smart thermostats or IP camera systems. A small percentage of those homes have multi-function solutions, which is a technology allowing multiple systems to be linked in.
The potential for growth is enormous and according to research carried out by Berg Insight, the market will be worth €2.6 billion in 2017 and will cover 30 million homes.
Berg Insight is out with its latest “Smart Metering in Europe” research report. I’ve listed 12 highlights below. I found item #12 the most intriguing. Until recently, Europe has been a wireless holdout. But once its system is fully deployed, the UK will become the world’s largest wireless smart meter deployment to date. Equally intriguing, it is largely a cellular solution.
The Internet of energy is rapidly approaching. According to research firm Berg Insight, there will be 602.7 million smart meters installed throughout the world by 2o16. That represents a compound annual growth rate of 26.6 percent between 2010 and 2016.