Canada Smart Thermostat Market Size & Outlook, 2024-2030
Canada smart thermostat market, 2018-2030 (US$M)
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Canada smart thermostat market highlights
- The Canada smart thermostat market generated a revenue of USD 497.2 million in 2024 and is expected to reach USD 1,311.2 million by 2030.
- The Canada market is expected to grow at a CAGR of 18.2% from 2025 to 2030.
- In terms of segment, wi-fi was the largest revenue generating technology in 2024.
- LoRaWAN is the most lucrative technology segment registering the fastest growth during the forecast period.
Smart thermostat market data book summary
| Market revenue in 2024 | USD 497.2 million |
| Market revenue in 2030 | USD 1,311.2 million |
| Growth rate | 18.2% (CAGR from 2025 to 2030) |
| Largest segment | Wi-fi |
| Fastest growing segment | LoRaWAN |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Wi-Fi, Zigbee, LoRaWAN |
| Key market players worldwide | Centrica PLC, Snap One Holdings Corp, Generac Holdings Inc, Emerson Electric Co, Alphabet Inc Class A, Honeywell International Inc, Johnson Controls International PLC, Resideo Technologies Inc, Siemens AG |
Other key industry trends
- In terms of revenue, Canada accounted for 9.9% of the global smart thermostat market in 2024.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. smart thermostat market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 822.4 million by 2030.
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Smart Thermostat Market Scope
Smart Thermostat Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada 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 75.08% in 2024. Horizon Databook has segmented the Canada smart thermostat market based on wi-fi, zigbee, lorawan covering the revenue growth of each sub-segment from 2018 to 2030.
The adoption of smart thermostats in Canada is on the rise, driven by factors such as the growing need for energy efficiency, convenience, and remote-control capabilities, increasing adoption of IoT-enabled smart thermostats, and technological advancements in technologies such as artificial intelligence (AI), the Internet of Things (IoT), and wireless connectivity.
The major factors driving this adoption of smart thermostat include the desire for greater convenience, improved security, energy efficiency, and the ability to manage home systems remotely. Further, Canada-based companies are exerting efforts to launch new products in the market.
For instance, in May 2022, Eco bee launched the Eco bee Smart Thermostat Premium and Eco bee Smart Camera with Voice Control. The Eco bee Smart Thermostat Premium includes a built-in Alexa voice service, a glass touchscreen display, and a speaker engineered for whole-home sound. Such developments are expected to support the growth of the market.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada smart thermostat market , including forecasts for subscribers. This country databook contains high-level insights into Canada smart thermostat market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada smart thermostat market size, by technology, 2018-2030 (US$M)
Canada Smart Thermostat Market Outlook Share, 2024 & 2030 (US$M)
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