The global smart thermostat market size is projected to reach USD 6.5 billion by 2026 at a CAGR of 21% from USD 2.6 billion in 2021 during the forecast period 2021-2028.
A thermostat is a device primarily used for the purpose of maintaining a particular temperature in a closed room. These are equipped with relays, switches and valves in order to generate signals for the temperature modulation. A smart thermostat is AI driven and perform the same function but use Wi-Fi for the purpose.
With the recent trend of smart home and smart home voice gaining popularity along with the governmental regulations are some of the factors that have supported long-term expansion for Smart Thermostat Market.
The COVID-19 pandemic is causing widespread concern and economic hardship for consumers, businesses, and communities across the globe. The market of smart thermostat has also been negatively impacted due to the lowered demand and the difficulties in manufacturing owing to the disrupted supply chain.
APAC is expected to be the largest market during the forecast period. With the growing popularity along with the environmental awareness has led to the expansion of market in the region.
Insights are provided for each region and major countries within the regions
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Report Feature |
Descriptions |
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Market Revenue In 2021 |
USD 2.6 billion |
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Growth Rate |
CAGR of 21% during the forecasting period, 2021-2028 |
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Historical Data |
2018-2019 |
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Forecast Years |
2021-2028 |
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Base Year |
2020 |
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Units Considered |
Revenue in USD million and CAGR from 2021 to 2028 |
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Report Segmentation |
products, connectivity technology, installation type, vertical and geography |
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Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
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Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East and Africa |
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Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
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Companies Profiled |
Alphabet , Emerson Electric , Honeywell International , Lennox International , Ecobee , Carrier Corporation , Johnson Controls , Legrand (Netatmo) , Resideo Technologies , Siemens , Trane Technologies , Control4 Corporation , Nortek Control , Tado , Alarm.com , Bosch Thermotechnology , Centrica Hive , Cielo Wigle , Climote , Empowered Homes (MYSA) , Eve Systems , MRCOOL , Radio Thermostat Company of America , Salus Controls , Vine Connected , VIvint , Zen Ecosystems |
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Available Customization |
In addition to the market data for Smart Thermostat Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |
Smart Thermostat Market is segmented into Products, Connectivity Technology, Installation Type, Vertical and geography.
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