Global Smart Thermostat Market Size & Outlook, 2024-2030
Global smart thermostat market, 2018-2030 (US$M)
Related Markets
Global smart thermostat market highlights
- The global smart thermostat market generated a revenue of USD 4,999.6 million in 2024 and is expected to reach USD 13,345.0 million by 2030.
- The market is expected to grow at a CAGR (2025 - 2030) of 18.5% by 2030.
- In terms of segment, wi-fi accounted for a revenue of USD 3,797.3 million in 2024.
- LoRaWAN is the most lucrative technology segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2024.
- Country-wise, India is expected to register the highest CAGR from 2025 to 2030.
Global data book summary
| Market revenue in 2024 | USD 4,999.6 million |
| Market revenue in 2030 | USD 13,345.0 million |
| Growth rate | 18.5% (CAGR from 2025 to 2030) |
| Largest segment | Wi-fi |
| Fastest growing segment | LoRaWAN |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Wi-Fi, Zigbee, LoRaWAN |
Other key industry trends
- In terms of revenue, the North America accounted for 61.6% of the global smart thermostat market in 2024.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, India is the fastest growing regional market and is projected to reach USD 179.2 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Smart Thermostat Market Scope
Smart Thermostat Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global smart thermostat market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to smart thermostat market will help companies and investors design strategic landscapes.
Wi-fi was the largest segment with a revenue share of 75.95% in 2024. Horizon Databook has segmented the Global smart thermostat market based on wi-fi, zigbee, lorawan covering the revenue growth of each sub-segment from 2018 to 2030.
Growing popularity of energy efficient solutions is playing a key role in the market growth. Reduction in energy bill costs and improved return on investments offered by such devices have considerably increased their demand in households.
Moreover, businesses and industries are also adopting this technology as a low-cost way to manage their HVAC systems. Data security concerns and the high cost of devices are the potential factors acting as constraints for the adoption of smart thermostats.
Reasons to subscribe to Global smart thermostat market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of Global smart thermostat market databook
-
Our clientele includes a mix of smart thermostat market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of global-level data and insights on the Global smart thermostat market , including forecasts for subscribers. This global databook contains high-level insights into Global smart thermostat market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Global smart thermostat market size, by regions, 2018-2030 (US$M)
Top 10 countries: Smart thermostat market size, 2024 (US$M)
Global smart thermostat market share, by technology, 2024 & 2030 (%, US$M)
Smart thermostat market: Opportunity assessment by country
Global smart thermostat market, by region, 2024 (US$M)
| Technology | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 1,572.3 | 1,779.5 | 1,992.0 | 2,230.7 | 2,495.8 | 2,748.2 | 3,078.8 | 3,491.4 | 3,885.9 | 4,471.2 | 5,044.6 | 6,250.1 | 7,758.8 | 17.3% |
| Europe | 535.0 | 617.2 | 704.3 | 804.3 | 917.8 | 1,030.9 | 1,178.4 | 1,363.8 | 1,549.4 | 1,820.3 | 2,097.4 | 2,654.5 | 3,367.0 | 19.8% |
| Asia Pacific | 230.3 | 268.1 | 308.7 | 355.7 | 409.6 | 464.3 | 535.5 | 625.3 | 716.8 | 849.7 | 987.9 | 1,261.6 | 1,614.7 | 20.9% |
| Latin America | 51.7 | 59.9 | 68.5 | 78.4 | 89.7 | 101.1 | 115.8 | 134.4 | 153.1 | 180.4 | 208.4 | 264.4 | 336.3 | 20.1% |
| MEA | 40.1 | 46.5 | 53.3 | 61.2 | 70.2 | 79.3 | 91.1 | 105.9 | 121.0 | 142.8 | 165.4 | 210.4 | 268.2 | 20.4% |
| Overall | 2,429.4 | 2,771.2 | 3,126.9 | 3,530.3 | 3,983.1 | 4,423.7 | 4,999.6 | 5,720.9 | 6,426.2 | 7,464.3 | 8,503.7 | 10,641.0 | 13,345.0 | 18.5% |
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
