tado° hits one million sale milestone.
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.
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 per cent 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 per cent by 2022.
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.
The real intelligence in tado° smart thermostats lies in the software and services. 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.
The company’s chief executive, Toon Bouten, said: “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.
“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.”