Press release
Exponential Growth Forecasted for Smart Thermostat Market: Insights Into Key Drivers and Trends
Exponential Growth Forecasted for Smart Thermostat Market
What Is The Projected Market Size Of The Global Smart Thermostat Market And Its Growth Rate?
• The smart thermostat market, driven by increasing energy efficiency awareness and the rise of smart homes, grew from $3.51 billion in 2024 to an expected $4.21 billion in 2025, showing a compound annual growth rate (CAGR) of 19.8%.
• The strong growth experienced during this historic period can also be attributed to climate change concerns, government regulations and incentives, and modernization of HVAC systems.
• The forecast period also indicates a potential for exponential growth, with projections suggesting a market size of $8.86 billion by 2029, fueled by a CAGR of 20.5. This surge is due to developments in the IoT ecosystem, focus on energy conservation, remote work adaptation, integration of AI and machine learning, and health and comfort solutions.
What Is Driving The Growth In The Smart Thermostat Market?
The smart thermostat market growth owes much to the increasing adoption of smart homes. Homeowners are more accepting of smart technologies and devices, appreciating the benefits and conveniences offered by a connected and automated environment. A smart thermostat is a common feature in these homes, allowing remote control and management of HVAC systems. For example, in December 2022, IoT For All, a US-based technology media platform, reported that smart home penetration was about 14% in 2022 and could reach 25% by the end of 2026. Additionally, nearly half of US households are expected to embrace automation by 2025. These factors underline the exponential growth expected in the smart thermostat market.
Request A Free Sample Copy:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12254&type=smp
Who Are the Key Players Driving Smart Thermostat Market Growth?
• 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
• Climot Ltd.
What Are The Key Trends In The Smart Thermostat Market?
• Rapid technological innovations
• Voice-activated controls
• Increased interconnectivity
• Occupancy sensing and adaptive control
• Smart integrations with renewable energy sources
What Are The Segments Of The Global Smart Thermostat Market?
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
Which Region Leads The Smart Thermostat Market?
North America led in the smart thermostat market in 2024. The region of Asia-Pacific is expected to experience the fastest growth in the smart thermostat market during the forecast period. Other regions analyzed in the smart thermostat market report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Pre-book the Report for Swift Delivery:
https://www.thebusinessresearchcompany.com/report/smart-thermostat-global-market-report
What Is Covered In The Smart Thermostat Market Global Market Report?
- Market Size Analysis: Analyze the Smart Thermostat Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Smart Thermostat Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Smart Thermostat Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Smart Thermostat Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Request Customization for This Report:
https://www.thebusinessresearchcompany.com/customise?id=12254&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
Learn More About the Business Research Company. With over 15,000+ 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 (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Exponential Growth Forecasted for Smart Thermostat Market: Insights Into Key Drivers and Trends here
News-ID: 3835832 • Views: …
More Releases from The Business research company
Construction Trucks: Critical Driver Shaping the The Growing Renewable Energy Pr …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Construction Trucks Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for construction trucks has experienced significant expansion in the past few years. Projected growth indicates a rise from $50.20 billion in 2024 to $53.17 billion in 2025, indicating a compound annual growth…
Rise In Mergers And Acquisitions Fueling The Growth Of The Market Due To Growing …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Business Valuation Service Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, there's been considerable growth in the business valuation service market size. The market is projected to increase from $7.42 billion in 2024 to approximately $8.05 billion in 2025, with a compound…
Construction Skips Industry Outlook 2025-2029: Market Set to Cross $2.17 Billion …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Construction Skips Market Size By 2025?
The market for construction skips has witnessed significant expansion in the past few years. The market is projected to rise from $1.47 billion in 2024 to reach $1.59 billion in 2025, exhibiting a compound annual growth rate (CAGR) of…
Steady Expansion Forecast for Building Pest Control Services Market, Projected t …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Building Pest Control Services Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for building pest control services has significantly expanded in previous years. The sector, valued at $20.21 billion in 2024, is projected to increase to $21.84 billion in 2025, registering a compound…
More Releases for Smart
Smart Cities Market is Expected to Witness CAGR of 17.3% by 2027 with Applicatio …
A smart city is an urban unit or area that uses various types of electronic Internet of Things (IoT) devices to collect data and then use the insights to manage resources, assets, and services effectively. Green building is a growing trend in the global smart cities market. Constructing eco-friendly infrastructure facilities can provide a sustainable environment in the cities. Moreover, governments are focused on constructing energy-efficient buildings, in order…
Internet of Things (IoT) Devices Market By Type (Computing Devices, Smart Media, …
On a global scale, the Internet of Things (IoT) Devices market is currently showing significant development. The innovative methods and market study have helped many of the major players Samsung Electronics, Apple, Lenovo, ASUS, Acer, Huawei, Coolpad, LG Electronics, Google, Panasonic, Microsoft, Brother Industries, Honeywell, Fitbit, Lenovo to carve a name for themselves in the competitive global market. The Internet of Things (IoT) Devices market is experiencing a massive growth…
Global Smart Cities Market by Component (Hardware, Software) by Application (Sma …
Global Smart Cities Market: Overview
The global smart cities market is expected to reach a mark of over USD 3000 billion by 2024, at a CAGR over 21% during the forecast period. Significant growth in next-generation technologies such as artificial intelligence AI, personalized healthcare, sustainable energy generation and robotics are driving the smart cities’ future. Moreover, the increase in residential preference towards the adoption of advanced information and communication technologies ICT…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands also has great examples of emerging…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
The global smart city transformation is underway
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands…
Smart Kitchen Appliances Market ( Smart Refrigerators, Smart Dishwashers, Smart …
The rising demand for smart kitchen appliances is linked to their premium design that offers better effectiveness and more comfort than their traditional counterparts. With energy efficiency at its core, the global market for smart kitchen appliances is expected to surge at a robust pace in the near future.In a report titled “Smart Kitchen Appliances Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022,” Transparency…
