Global Smart Thermostats Market Growth 2023-2029

Global Smart Thermostats Market Growth 2023-2029

Smart thermostats are devices that can be used with home automation and are responsible for controlling a home's heating and/or air conditioning. They perform the same functions as a Programmable thermostat as they allow the user to control the temperature of their home throughout the day using a schedule, such as setting a different temperature at night.

Like a connected thermostat, they are connected to the Internet. They allow users to adjust heating settings from other internet-connected devices, such as smartphones. This allows users to easily adjust the temperature remotely. This ease of use is essential for ensuring energy savings: studies have shown that households with programmable thermostats actually have higher energy consumption than those with simple thermostats, because residents program them incorrectly or disable them completely.

Based on technology, Smart Thermostats include Wi-Fi Thermostat, ZigBee Thermostat, NFC Thermostat, Ethernet Thermostat, Bluetooth Ethernet and etc. Wi-Fi Thermostat is the most popular type in the market.

LPI (LP Information)' newest research report, the “Smart Thermostats Industry Forecast” looks at past sales and reviews total world Smart Thermostats sales in 2022, providing a comprehensive analysis by region and market sector of projected Smart Thermostats sales for 2023 through 2029. With Smart Thermostats sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Smart Thermostats industry.

This Insight Report provides a comprehensive analysis of the global Smart Thermostats landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Smart Thermostats portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Smart Thermostats market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Smart Thermostats and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Smart Thermostats.

The global Smart Thermostats market size is projected to grow from US$ 2067.6 million in 2022 to US$ 4917.2 million in 2029; it is expected to grow at a CAGR of 4917.2 from 2023 to 2029.

The technical barrier of smart thermostats is high, resulting in few companies in the market. Nest is the first and largest producer, accounting for 23% of output. Other leading players include EcoBee, Honeywell, Emerson, Carrier, Energate Inc., Tado GmbH, Control4, Netatmo and Hive Home, etc. As for main production countries, it is estimated that North America accounted for more than 85% of global WiFi Thermostats output.

North America is also leading the downstream consumption market, occupied about 71% market share, Europe followed with 19% market share.

This report presents a comprehensive overview, market shares, and growth opportunities of Smart Thermostats market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
WiFi Thermostats
ZigBee Thermostats
Others

Segmentation by application
Residential
Commercial

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Nest
Honeywell
EcoBee
Schneider Electric
Emerson
LUX/GEO
Carrier
Energate Inc.
Tado GmbH
Control4
Netatmo
Hive Home

Key Questions Addressed in this Report

What is the 10-year outlook for the global Smart Thermostats market?

What factors are driving Smart Thermostats market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Smart Thermostats market opportunities vary by end market size?

How does Smart Thermostats break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.