The global smart thermostat market is anticipated to grow at an exponential CAGR of 28.2% during the forecast period (2024-2031). Smart thermostats are widely used in various applications, including residential, commercial, healthcare, educational, government, industrial, and specialized environments. They provide centralized control over HVAC systems, optimizing temperature settings for occupant comfort and energy efficiency. To meet the growing demand for smart thermostat solutions key players are making new product launches. For instance, in June 2020, Johnson Controls launched the latest addition to its suite of LUX Products the LUX CS1 Smart Thermostat. The LUX CS1 provides simple features for comfort, control, and savings at a lower cost than comparable thermostat models, making smart technology available to homes and companies operators.
Browse the full report description of “Smart Thermostat Market Size, Share &Trends Analysis Report by Product (Connected Smart thermostat, Learning Smart Thermostat, and Standalone Smart Thermostat), by Connectivity Technology (Wireless Network and Wired Network) by Installation Type (New Installation, and Retrofit Installation)and by Vertical(Residential, Commercial, and Industrial), Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/smart-thermostat-market
Furthermore, the addition of customization and control tools appeals to users seeking personalized and adaptable solutions. In May 2022, Building36 launched Smart Thermostat HD, the near-universal 24 volt smart thermostat that can communicate wirelessly with HVAC systems, and seamlessly control air quality products and accessories such as humidifiers, dehumidifiers, ERVs, HRVs and more. It is the ideal preferred for HVAC service providers, owing to its simple installation options and extensive feature set.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Product
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Honeywell International Inc., Lennox International Inc., Mitsubishi Electric Corp., NETATMO, and Resideo Technologies, Inc. and others.
Key questions addressed by the report
Global Smart Thermostat Market Report Segment
By Product
By Connectivity Technology
o Wi-Fi
o Zigbee
o Z-wave
o Bluetooth
By Installation Type
By Vertical
Global Smart Thermostat Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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