Smart Thermostat Market Size & Share, by Type (Conventional, Network-abled); Connectivity (Wireless, Wired); Product (Connected, Learning, Standalone); Application (Climate Control, Water Heating) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5030
  • Published Date: Jun 14, 2023
  • Report Format: PDF, PPT

Companies Dominating the Smart Thermostat Landscape

    • Google Nest (Google LLC)
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Ecobee, Inc.
    • Honeywell International Inc.
    • Emerson Electric Co.
    • Tado GmbH
    • Ingersoll Rand
    • Nortek (NTK Holdings, Inc.)
    • Schneider Electric SE
    • Carrier Global Corporation
    • Control4 Corporation (Snap One, LLC)

Browse Key Market Insights with Data Illustration:


In The News

  • Google Nest, a subsidiary of Google LLC is now adding new features to Nest Thermostat. The new Matter support will enable the owners to adjust temperatures and control the basic features of their thermostats across Matter-compatible smart home platforms.
  • Ecobee, Inc. has announced its partnership with select utility companies across the United States to distribute free and discounted Ecobee3 lite, an advanced residential thermostat, that will help the residents stay cool, save energy, and lower energy bills.

Author Credits:  Abhishek Verma, Hetal Singh

  • Report ID: 5030
  • Published Date: Jun 14, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for advanced home appliances for automatic cooling and heating of devices and rooms along with the rising living standard are considered to be major factors contributing to market size expansion.

The market size of smart thermostats is anticipated to attain a CAGR of ~20% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Google Nest (Google LLC), Ecobee, Inc., Honeywell International Inc., Emerson Electric Co., Tado GmbH, Ingersoll Rand, Nortek (NTK Holdings, Inc.), Schneider Electric SE, Carrier Global Corporation, Control4 Corporation (Snap One, LLC), and other key players.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, connectivity, product, application, and region.

The climate control segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

Lack of awareness regarding technology along with the requirement of high initial investments are estimated to be the growth hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
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