German intelligent home climate management company tado° today announces that it has sold over one million smart thermostats in Europe. The figure represents a milestone for the Munich-based company founded in 2011 and illustrates a rapidly-growing business segment that benefits both the environment and household finances. tado° Smart Thermostats connect heating and cooling systems to the internet and use smart algorithms to provide energy savings and comfort at home. tado° pioneered the product category and enabled the technology to flourish in Europe.
From Early Adopters To Mass Market
The smart home category has steadily grown over the last years. Approximately one million EU homes were equipped with smart thermostats in 2015. By the beginning of 2019, an estimated 6.6 million smart thermostats had been installed in European homes. The UK represents approximately a quarter of the total European market with over 6% of Brits owning a smart thermostat in August 2018. The market penetration rate of smart thermostats in European homes is set to rise rapidly to approach 20% by 2022.
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Smart thermostats and energy management are a core sector of the smart home. There are estimated to be 36 million smart homes in Europe in 2020 and this is forecast to surpass 62 million homes in 2023.
Smart Technology For More Sustainability
The real intelligence in tado° smart thermostats lies in the software and services. The hardware serves as a gateway into its intuitive technology and automations which save energy by ensuring that homes are only heated or cooled when they are occupied. Furthermore, tado° adapts to the weather and reduces heat or AC when open windows are detected for additional savings. The company’s environmental credentials were recognised last month by the Cleantech Group who awarded tado° the 2020 Global Cleantech Europe company of the year.
“We are delighted to have sold over one million smart thermostats, but more importantly we are proud that customers continue to choose tado° as their preferred solution,” says tado° CEO Toon Bouten. “Our hardware products are one part of the story. At the heart of tado° is our software, services, and our strong DNA in user experience to deliver outstanding customer satisfaction.
tado° is backed by USD 102 million in international investment from big names including Amazon, Total, and E.ON. The company’s smart thermostats are interoperable with Apple HomeKit, the Google Assistant, and Amazon Alexa and are sold throughout Europe in all Apple stores, through Amazon and major retailers like Currys PC World, Argos and AO. tado° also has strategic partnerships with over 30 European energy and utility companies such as E.ON, SSE, Ovo Energy, Naturgy, and Essent.