The Business Research Company’s report on the Smart Thermostat Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the smart thermostat market in recent years?
The increasing adoption of smart homes is expected to propel the growth of the smart thermostat market going forward. The adoption of smart homes refers to homeowners’ growing acceptance and integration of smart home technologies and devices. It signifies the willingness of individuals or households to embrace the benefits and conveniences offered by a connected and automated living environment. A smart thermostat is one of the most used devices in smart homes, where a connected and programmable thermostat allows homeowners to remotely control and manage their heating, ventilation, and air conditioning (HVAC) systems. For instance, in December 2022, according to the reports shared by IoT For All, a US-based technology media platform, the smart home’s penetration was around 14% in 2022, and it can reach 25% by the end of 2026. Further, there will be automation in 48.4% of US households by 2025. Therefore, the increasing adoption of smart homes is driving the growth of the smart thermostat market.
Access Your Free Sample of the Global Smart Thermostat Market Report – Get Insights Now!
https://www.thebusinessresearchcompany.com/sample.aspx?id=12254&type=smp
What is the projected market size of the smart thermostat industry, and how is it expected to grow?
The smart thermostat market size has grown rapidly in recent years. It will grow from $3.51 billion in 2024 to $4.21 billion in 2025 at a compound annual growth rate (CAGR) of 19.8%. The growth in the historic period can be attributed to energy efficiency awareness, the rise of smart homes, climate change concerns, government regulations and incentives, and HVAC system modernization
The smart thermostat market size is expected to see exponential growth in the next few years. It will grow to $8.86 billion in 2029 at a compound annual growth rate (CAGR) of 20.5%. The growth in the forecast period can be attributed to growth in the IoT ecosystem, focus on energy conservation, remote work adaptation, AI and machine learning integration, and health and comfort solutions. Major trends in the forecast period include rapid technological innovations, voice-activated controls, increased interconnectivity, occupancy sensing and adaptive control, and smart integrations with renewable energy sources.
Gain Exclusive Market Insights—Customize Your Research Report Today For Fast Delivery!
https://www.thebusinessresearchcompany.com/customise?id=12254&type=smp
Who are the key players driving competition in the smart thermostat market?
Major companies operating in the smart thermostat market include Bosch Thermotechnology, Siemens AG, Honeywell International Inc., Schnieder Electric SE, Johnson Controls International plc, Emerson Electric Co., Trane Technologies plc, Legrand Group, Ingersoll Rand plc, Resideo Technologies Inc., Lennox International Inc., Nortek Inc., Control4 Corporation, Ecobee Inc., Tado GmbH, Centrica Hive Limited, Netatmo SA, Lux Products Corporation, Salus Controls GmbH, Empowered Homes LLC, Eve Systems GmbH, Nest Labs Inc., Vine Connected Corporation, Climote Ltd.
What key trends are expected to drive the smart pneumatics market during the forecast period?
Product innovation is a key trend gaining popularity in the smart thermostat market. Major companies operating in the smart thermostat market are developing innovative products to sustain their position in the market. For instance, in July 2022, Universal Electronics Inc., a US-based consumer electronics company, launched the TBH300 Smart Thermostat. This innovative product is designed to help property managers, and hoteliers save energy and money by providing remote management capabilities and sustainable energy features. This TBH300 can be controlled remotely via the RUCKUS IoT suite, allowing hoteliers to monitor and adjust the temperature of individual rooms even when they are not on-site. The thermostat also features a built-in occupancy sensor that automatically adjusts the temperature when a space is empty, saving even more energy. Additionally, it includes Zigbee connectivity, integration with the RUCKUS IoT suite for hospitality, remote management capabilities, sustainable energy features, and simple integration into property management systems.
Which key geographies are driving the growth of the smart thermostat market?
North America was the largest region in the smart thermostat market in 2024. Asia-Pacific is expected to be the fastest-growing region in the smart thermostat market report during the forecast period. The regions covered in the smart thermostat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Order Your Report Now For Swift Delivery
https://www.thebusinessresearchcompany.com/report/smart-thermostat-global-market-report
What are the key segments driving growth in the smart thermostat market?
The smart thermostat market covered in this report is segmented –
1) By Product: Connected Smart Thermostat, Learning Smart Thermostat, Standalone Smart Thermostat
2) By Technology: Wi-Fi, Bluetooth, Zigbee, Other Technologies
3) By Application: Air Conditioning, Heating, Ventilation
4) By End-User: Residential, Commercial, Industrial, Other End-Users
Subsegments:
1) By Connected Smart Thermostat: Wi-Fi Enabled Thermostats, Zigbee Or Z-Wave Enabled Thermostats
2) By Learning Smart Thermostat: AI-Powered Learning Thermostats, Adaptive Learning Thermostats
3) By Standalone Smart Thermostat: Basic Programmable Thermostats, Digital Non-Programmable Thermostats
Purchase The Exclusive Report Now To Unlock Valuable Market Insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12254
What defines the structure and scope of the smart thermostat market?
A smart thermostat is a device used to control the temperature and climate settings of a building or individual rooms in an intelligent and automated manner. A smart thermostat can automatically adjust the temperature based on preset schedules and occupancy detection.
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
https://thebusinessresearchcompany.com/
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
