Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 5.17 Billion | USD 28.37 Billion | 18.7% | 2024 |
FrequentlyAsked Questions
A smart thermostat is a device that controls the temperature of a space or room where heating, ventilation, and air-conditioning (HVAC) equipment is placed.
The global smart thermostats market is expected to grow due to rising energy efficiency concerns, increasing adoption of smart home technologies, and growing integration of ai-driven climate control.
According to a study, the global smart thermostats market size was worth around USD 5.17 Billion in 2024 and is expected to reach USD 28.37 Billion by 2034.
The global smart thermostats market is expected to grow at a CAGR of 18.7% during the forecast period.
North America is expected to dominate the smart thermostats market over the forecast period.
Leading players in the global smart thermostats market include lphabet (Google Nest) (US), Emerson Electric (US), Honeywell International (US), Lennox International (US), Ecobee (Canada), Carrier Corporation (US), Johnson Controls (Lux Products) (Ireland), Legrand (Netatmo) (France), Resideo Technologies (US), Siemens (Germany), Trane Technologies (Ireland), Control4 Corporation (US), Nortek Control (US), Tado (Germany), Alarm.com (US), Bosch Thermotechnology (Germany), Centrica Hive (UK), Cielo Wigle (US), Climote (Ireland), Empowered Homes (MYSA) (Canada), Eve Systems (Germany), MRCOOL (US), Radio Thermostat Company of America (US), Salus Controls (UK), Vine Connected (US), VIvint (US), Zen Ecosystems (US), among others.
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