Smart Home Thermostats Market Size  2023-2032

Smart Home Thermostats Market Size  2023-2032

Oct 12, 2023

The global Smart Home Thermostats market was valued at US$ 1656.3 million in 2022 and is projected to reach US$ 3653 million by 2029, at a CAGR of 12.0% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

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A smart home thermostat is a device that gives you the ability to remotely control and monitor the temperature of your home using your smartphone, tablet, or computer. It connects to your home’s heating, ventilation, and air conditioning (HVAC) system and provides more advanced features and functionality compared to traditional thermostats.

These intelligent thermostats can be programmed to automatically adjust the temperature based on your preferences and schedule, ensuring both energy efficiency and comfort. They come equipped with features like learning algorithms that learn from your behavior over time, motion sensors that detect occupancy and adjust the temperature accordingly, and the capability to create personalized heating and cooling schedules.

One of the main advantages of smart thermostats is their internet connectivity, which allows you to control them remotely. Whether you’re at home or away, you can easily change the temperature, modify settings, and monitor your energy usage, offering you convenience and flexibility. Many smart thermostats even integrate with popular virtual voice assistants such as Amazon Alexa or Google Assistant, enabling voice commands for adjusting the temperature and other functions.

Total Market by Segment:

Global Smart Home Thermostats Market, by Type, 2018-2023, 2024-2032($ Millions) & (10K)
Global Smart Home Thermostats Market Segment Percentages, by Type, 2022 (%)

  • WiFi Technology
  • ZigBee Technology
  • Z-Wave Thermostats
  • Bluetooth Thermostats

Further, the report presents profiles of competitors in the market, key players include:

  • Google Nest
  • Honeywell
  • EcoBee
  • Emerson
  • Carrier
  • Energate Inc.
  • Tado GmbH
  • Control4
  • Netatmo
  • Hive Home

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