According to HTF Market Intelligence, the global Smart Thermostats market is valued at USD 49822.57 Million in 2023 and estimated to reach a revenue of USD 200891.41 Million by 2030, with a CAGR of 26.6% from 2023 to 2030.

Smart Thermostats Market Overview

A Smart Thermostat are thermostats that are used for Home Automation. Smart thermostats are performing functions such as controlling a home's heating and/or air conditioning. A smart thermostat has the capability to make automated and smart adjustments for clients so as to achieve energy reserves and to connect with sources exterior to an HVAC system. Additionally, a smart thermostat is a main energy-saving device for smart homes/buildings. There are various applications of the smart thermostat such as residential, office building, educational institution and others.

Some of the companies listed in the study from the complete survey list are Nest Labs Inc. (United States), Honeywell (United States), Texas Instruments Limited (United Kingdom), EcoBee (Canada), Schneider Electric (France), Siemens Corporation (Germany), Emerson Electric (United States), Lennox International Inc. (United States), LUX/GEO (United States), Carrier (United States)

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Market Trends

Integrating Smart Thermostats with IOT

Adoption of Building Automation Solution

Market Drivers

Escalating Necessity to Optimize Power For Reduce Energy Bills

Rising Government Support for Energy Saving Devices

Market Opportunities:

Rising Demand of Wi-Fi enabled Smart Thermostats

Smart Thermostats Market Segmentation

The Smart Thermostats Market is Segmented by Application (Residential, Office Building, Educational Institution, Others) by Type (Wired Networking, Wireless Network (Wi-Fi, ZigBee, Others)) by Price (<$100, $100-$129, $130-$200, $200+) and by Geography (North America, South America, Europe, Asia Pacific, MEA)

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