Global Smart Thermostat Market Size & Outlook, 2023-2030
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 4,423.7 million in 2023 and is expected to reach USD 13,345.0 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 17.1% by 2030.
- In terms of segment, wi-fi accounted for a revenue of USD 2,956.8 million in 2023.
- Zigbee 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 2023.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 4,423.7 million |
| Market revenue in 2030 | USD 13,345.0 million |
| Growth rate | 17.1% (CAGR from 2023 to 2030) |
| Largest segment | Wi-fi |
| Fastest growing segment | Zigbee |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Wi-Fi, Zigbee |
Other key industry trends
- In terms of revenue, the North America accounted for 62.1% of the global smart thermostat market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 6,259.8 million by 2030.
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Smart Thermostat Market Scope
Smart Thermostat Market Companies
| Name | Profile | # Employees | HQ | Website |
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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 66.84% in 2023. Horizon Databook has segmented the Global smart thermostat market based on wi-fi, zigbee 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.
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Our clientele includes a mix of smart thermostat market companies, investment firms, advisory firms & academic institutions.
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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.
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Global smart thermostat market size, by regions, 2018-2030 (US$M)
Top 10 countries: Smart thermostat market size, 2023 (US$M)
Global smart thermostat market share, by technology, 2023 & 2030 (%, US$M)
Smart thermostat market: Opportunity assessment by country
Global smart thermostat market, by region, 2023 (US$M)
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