Smart Thermostat Market Size

Smart Thermostat market size was valued at USD 4.33 billion in 2024 and is likely to exceed USD 49.12 billion by the end of 2037, registering over 20.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of smart thermostat is evaluated at USD 5.04 billion.

The popularity of smart thermostats has increased owing to the rising trend of HVAC controls across the globe. The HVAC industry generated a revenue of USD 17 Billion in 2022 and is poised to grow and reach USD 30 Billion by 2028.

A smart thermostat is an advanced product that monitors the temperature of space inside a building or a home and maintains a constant temperature. These devices are very much beneficial in heating up and cooling down the temperature as per the requirement while maintaining energy-saving measures. The demand for advanced solutions for a leisure lifestyle and enhanced comfort is also growing. This factor is anticipated to promote the need for smart thermostats in the upcoming years.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of smart thermostat is evaluated at USD 5.04 billion.

The smart thermostat market size was valued at USD 4.33 billion in 2024 and is likely to exceed USD 49.12 billion by the end of 2037, registering over 20.3% CAGR during the forecast period i.e., between 2025-2037. Increasing demand for advanced home appliances for automatic cooling and heating of devices and rooms along with the rising living standard will impel the market growth.

Asia Pacific industry is poised to hold 35% of the revenue share by 2037, owing to burgeoning population demanding efficient and eco-friendly climate control solutions in the region.

The major players in the market include 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).

Smart Thermostat Market Size