The temperature seems to be rising for the connected home, with the number of North American and European homes with a smart thermostat growing by 105% to 3.2 million in 2014, according to a new research report from Berg Insight,
The North American market recorded a 107% growth in the installed base of smart thermostats to 2.5 million. In Europe, the total number of homes with a smart thermostat grew by 96% year-on-year to reach 0.7 million.
Berg Insight forecasts that the number of homes with smart thermostats in Europe and North America will grow at a CAGR of 64.2% during the next five years to reach 38.2 million in 2019. North America will remain the largest market at the end of the forecast period with 24.6 million homes that have smart thermostats, whereas the installed base in Europe is expected to reach 13.6 million homes.