Smart Thermostat Market Report 2024 by Delvens offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
Smart Thermostat Market size is projected to reach USD 6.5 billion by 2026 at a CAGR of 21% from USD 2.6 billion in 2021 during the forecast to 2028.
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A thermostat is a device primarily used for the purpose of maintaining a particular temperature in a closed room. These are equipped with relays, switches and valves in order to generate signals for the temperature modulation. A smart thermostat is AI driven and perform the same function but use Wi-Fi for the purpose.
Top Key Players:
· Alphabet
· Emerson Electric
· Honeywell International
· Lennox International
· Ecobee
· Carrier Corporation
· Johnson Controls
· Legrand (Netatmo)
· Resideo Technologies
· Siemens
· Trane Technologies
· MRCOOL
· Radio Thermostat Company of America
· Salus Controls
· Vine Connected
· VIvint
· Zen Ecosystems and More
With the recent trend of smart home and smart home voice gaining popularity along with the governmental regulations are some of the factors that have supported long-term expansion for Smart Thermostat Market.
Regional Analysis
APAC is expected to be the largest market during the forecast period. With the growing popularity along with the environmental awareness has led to the expansion of market in the region.
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Recent Developments
In December 2020, Carrier came up with an updated zoning sensor which could be used with its flagship Infinity System.
In October 2020, Google Nest came up with an all new version of Nest Thermostat by bringing AI in the play.
Smart Thermostat Market is segmented into Products, Connectivity Technology, Installation Type, Vertical and geography.
On the basis of Products
· Connected Smart thermostat
· Learning Smart Thermostat
· Standalone Smart Thermostat
On the basis of Connectivity Technology
· Wireless Network
· Wired Network
On the basis of Installation Type
· New Installation
· Retrofit Installation
On the basis of Vertical
· Residential
· Commercial
On the basis of Region
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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In addition to the market data for Smart Thermostat Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement.
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