Press release
Smart Thermostat Global Market is Expected to Reach $6.14 Billion at a CAGR of 20% By 2027 | Key Players: Alphabet Inc., Siemens AG, Schneider Electric SE, Legrand Group, Ingersoll Rand plc
Smart Thermostat Market
The Business Research Company's Smart Thermostat Global Market Report 2023 identifies the 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.
The global smart thermostat market is expected to grow from $2.44 billion in 2022 to $2.96 billion in 2023 at a compound annual growth rate (CAGR) of 21.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global smart thermostat is expected to reach $6.14 billion in 2027 at a CAGR of 20%.
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Major players in the smart thermostat market are Alphabet Inc., Bosch Thermotechnology, Siemens AG, Honeywell International Inc., Schneider 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, and Climate Ltd.
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.
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The Smart Thermostat market 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
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Smart Thermostat market.
The Business Research Company's "Global Smart Thermostat Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Smart Thermostat Market Include:
1. Executive Summary
2. Smart Thermostat Market Characteristics
3. Smart Thermostat Market Trends And Strategies
4. Smart Thermostat Market - Macro Economic Scenario
5. Smart Thermostat Market Size And Growth
……
27. Smart Thermostat Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Smart Thermostat Market
29. Smart Thermostat Market Future Outlook and Potential Analysis
30. Appendix
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