Global Smart Thermostats Market Growth 2023-2029

Smart thermostats are devices that can be used with home automation and are responsible for controlling a home's heating and/or air conditioning. They perform the same functions as a Programmable thermostat as they allow the user to control the temperature of their home throughout the day using a schedule, such as setting a different temperature at night.

Like a connected thermostat, they are connected to the Internet. They allow users to adjust heating settings from other internet-connected devices, such as smartphones. This allows users to easily adjust the temperature remotely. This ease of use is essential for ensuring energy savings: studies have shown that households with programmable thermostats actually have higher energy consumption than those with simple thermostats, because residents program them incorrectly or disable them completely.

Based on technology, Smart Thermostats include Wi-Fi Thermostat, ZigBee Thermostat, NFC Thermostat, Ethernet Thermostat, Bluetooth Ethernet and etc. Wi-Fi Thermostat is the most popular type in the market.

LPI (LP Information)' newest research report, the “Smart Thermostats Industry Forecast” looks at past sales and reviews total world Smart Thermostats sales in 2022, providing a comprehensive analysis by region and market sector of projected Smart Thermostats sales for 2023 through 2029. With Smart Thermostats sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Smart Thermostats industry.

This Insight Report provides a comprehensive analysis of the global Smart Thermostats landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Smart Thermostats portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Smart Thermostats market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Smart Thermostats and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Smart Thermostats.

The global Smart Thermostats market size is projected to grow from US$ 2067.6 million in 2022 to US$ 4917.2 million in 2029; it is expected to grow at a CAGR of 4917.2 from 2023 to 2029.

The technical barrier of smart thermostats is high, resulting in few companies in the market. Nest is the first and largest producer, accounting for 23% of output. Other leading players include EcoBee, Honeywell, Emerson, Carrier, Energate Inc., Tado GmbH, Control4, Netatmo and Hive Home, etc. As for main production countries, it is estimated that North America accounted for more than 85% of global WiFi Thermostats output.

North America is also leading the downstream consumption market, occupied about 71% market share, Europe followed with 19% market share.

This report presents a comprehensive overview, market shares, and growth opportunities of Smart Thermostats market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:
Segmentation by type
    WiFi Thermostats
    ZigBee Thermostats
    Others

Segmentation by application
    Residential
    Commercial

This report also splits the market by region:
    Americas
        United States
        Canada
        Mexico
        Brazil
    APAC
        China
        Japan
        Korea
        Southeast Asia
        India
        Australia
    Europe
        Germany
        France
        UK
        Italy
        Russia
    Middle East & Africa
        Egypt
        South Africa
        Israel
        Turkey
        GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
    Nest
    Honeywell
    EcoBee
    Schneider Electric
    Emerson
    LUX/GEO
    Carrier
    Energate Inc.
    Tado GmbH
    Control4
    Netatmo
    Hive Home

Key Questions Addressed in this Report
What is the 10-year outlook for the global Smart Thermostats market?
What factors are driving Smart Thermostats market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Smart Thermostats market opportunities vary by end market size?
How does Smart Thermostats break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?

List of Tables
    Table 1. Smart Thermostats Annual Sales CAGR by Geographic Region (2018, 2022 & 2029) & ($ millions)
    Table 2. Smart Thermostats Annual Sales CAGR by Country/Region (2018, 2022 & 2029) & ($ millions)
    Table 3. Major Players of WiFi Thermostats
    Table 4. Major Players of ZigBee Thermostats
    Table 5. Major Players of Others
    Table 6. Global Smart Thermostats Sales by Type (2018-2023) & (K Units)
    Table 7. Global Smart Thermostats Sales Market Share by Type (2018-2023)
    Table 8. Global Smart Thermostats Revenue by Type (2018-2023) & ($ million)
    Table 9. Global Smart Thermostats Revenue Market Share by Type (2018-2023)
    Table 10. Global Smart Thermostats Sale Price by Type (2018-2023) & (USD/Unit)
    Table 11. Global Smart Thermostats Sales by Application (2018-2023) & (K Units)
    Table 12. Global Smart Thermostats Sales Market Share by Application (2018-2023)
    Table 13. Global Smart Thermostats Revenue by Application (2018-2023)
    Table 14. Global Smart Thermostats Revenue Market Share by Application (2018-2023)
    Table 15. Global Smart Thermostats Sale Price by Application (2018-2023) & (USD/Unit)
    Table 16. Global Smart Thermostats Sales by Company (2018-2023) & (K Units)
    Table 17. Global Smart Thermostats Sales Market Share by Company (2018-2023)
    Table 18. Global Smart Thermostats Revenue by Company (2018-2023) ($ Millions)
    Table 19. Global Smart Thermostats Revenue Market Share by Company (2018-2023)
    Table 20. Global Smart Thermostats Sale Price by Company (2018-2023) & (USD/Unit)
    Table 21. Key Manufacturers Smart Thermostats Producing Area Distribution and Sales Area
    Table 22. Players Smart Thermostats Products Offered
    Table 23. Smart Thermostats Concentration Ratio (CR3, CR5 and CR10) & (2018-2023)
    Table 24. New Products and Potential Entrants
    Table 25. Mergers & Acquisitions, Expansion
    Table 26. Global Smart Thermostats Sales by Geographic Region (2018-2023) & (K Units)
    Table 27. Global Smart Thermostats Sales Market Share Geographic Region (2018-2023)
    Table 28. Global Smart Thermostats Revenue by Geographic Region (2018-2023) & ($ millions)
    Table 29. Global Smart Thermostats Revenue Market Share by Geographic Region (2018-2023)
    Table 30. Global Smart Thermostats Sales by Country/Region (2018-2023) & (K Units)
    Table 31. Global Smart Thermostats Sales Market Share by Country/Region (2018-2023)
    Table 32. Global Smart Thermostats Revenue by Country/Region (2018-2023) & ($ millions)
    Table 33. Global Smart Thermostats Revenue Market Share by Country/Region (2018-2023)
    Table 34. Americas Smart Thermostats Sales by Country (2018-2023) & (K Units)
    Table 35. Americas Smart Thermostats Sales Market Share by Country (2018-2023)
    Table 36. Americas Smart Thermostats Revenue by Country (2018-2023) & ($ Millions)
    Table 37. Americas Smart Thermostats Revenue Market Share by Country (2018-2023)
    Table 38. Americas Smart Thermostats Sales by Type (2018-2023) & (K Units)
    Table 39. Americas Smart Thermostats Sales by Application (2018-2023) & (K Units)
    Table 40. APAC Smart Thermostats Sales by Region (2018-2023) & (K Units)
    Table 41. APAC Smart Thermostats Sales Market Share by Region (2018-2023)
    Table 42. APAC Smart Thermostats Revenue by Region (2018-2023) & ($ Millions)
    Table 43. APAC Smart Thermostats Revenue Market Share by Region (2018-2023)
    Table 44. APAC Smart Thermostats Sales by Type (2018-2023) & (K Units)
    Table 45. APAC Smart Thermostats Sales by Application (2018-2023) & (K Units)
    Table 46. Europe Smart Thermostats Sales by Country (2018-2023) & (K Units)
    Table 47. Europe Smart Thermostats Sales Market Share by Country (2018-2023)
    Table 48. Europe Smart Thermostats Revenue by Country (2018-2023) & ($ Millions)
    Table 49. Europe Smart Thermostats Revenue Market Share by Country (2018-2023)
    Table 50. Europe Smart Thermostats Sales by Type (2018-2023) & (K Units)
    Table 51. Europe Smart Thermostats Sales by Application (2018-2023) & (K Units)
    Table 52. Middle East & Africa Smart Thermostats Sales by Country (2018-2023) & (K Units)
    Table 53. Middle East & Africa Smart Thermostats Sales Market Share by Country (2018-2023)
    Table 54. Middle East & Africa Smart Thermostats Revenue by Country (2018-2023) & ($ Millions)
    Table 55. Middle East & Africa Smart Thermostats Revenue Market Share by Country (2018-2023)
    Table 56. Middle East & Africa Smart Thermostats Sales by Type (2018-2023) & (K Units)
    Table 57. Middle East & Africa Smart Thermostats Sales by Application (2018-2023) & (K Units)
    Table 58. Key Market Drivers & Growth Opportunities of Smart Thermostats
    Table 59. Key Market Challenges & Risks of Smart Thermostats
    Table 60. Key Industry Trends of Smart Thermostats
    Table 61. Smart Thermostats Raw Material
    Table 62. Key Suppliers of Raw Materials
    Table 63. Smart Thermostats Distributors List
    Table 64. Smart Thermostats Customer List
    Table 65. Global Smart Thermostats Sales Forecast by Region (2024-2029) & (K Units)
    Table 66. Global Smart Thermostats Revenue Forecast by Region (2024-2029) & ($ millions)
    Table 67. Americas Smart Thermostats Sales Forecast by Country (2024-2029) & (K Units)
    Table 68. Americas Smart Thermostats Revenue Forecast by Country (2024-2029) & ($ millions)
    Table 69. APAC Smart Thermostats Sales Forecast by Region (2024-2029) & (K Units)
    Table 70. APAC Smart Thermostats Revenue Forecast by Region (2024-2029) & ($ millions)
    Table 71. Europe Smart Thermostats Sales Forecast by Country (2024-2029) & (K Units)
    Table 72. Europe Smart Thermostats Revenue Forecast by Country (2024-2029) & ($ millions)
    Table 73. Middle East & Africa Smart Thermostats Sales Forecast by Country (2024-2029) & (K Units)
    Table 74. Middle East & Africa Smart Thermostats Revenue Forecast by Country (2024-2029) & ($ millions)
    Table 75. Global Smart Thermostats Sales Forecast by Type (2024-2029) & (K Units)
    Table 76. Global Smart Thermostats Revenue Forecast by Type (2024-2029) & ($ Millions)
    Table 77. Global Smart Thermostats Sales Forecast by Application (2024-2029) & (K Units)
    Table 78. Global Smart Thermostats Revenue Forecast by Application (2024-2029) & ($ Millions)
    Table 79. Nest Basic Information, Smart Thermostats Manufacturing Base, Sales Area and Its Competitors
    Table 80. Nest Smart Thermostats Product Portfolios and Specifications
    Table 81. Nest Smart Thermostats Sales (K Units), Revenue ($ Million), Price (USD/Unit) and Gross Margin (2018-2023)
    Table 82. Nest Main Business
    Table 83. Nest Latest Developments
    Table 84. Honeywell Basic Information, Smart Thermostats Manufacturing Base, Sales Area and Its Competitors
    Table 85. Honeywell Smart Thermostats Product Portfolios and Specifications
    Table 86. Honeywell Smart Thermostats Sales (K Units), Revenue ($ Million), Price (USD/Unit) and Gross Margin (2018-2023)
    Table 87. Honeywell Main Business
    Table 88. Honeywell Latest Developments
    Table 89. EcoBee Basic Information, Smart Thermostats Manufacturing Base, Sales Area and Its Competitors
    Table 90. EcoBee Smart Thermostats Product Portfolios and Specifications
    Table 91. EcoBee Smart Thermostats Sales (K Units), Revenue ($ Million), Price (USD/Unit) and Gross Margin (2018-2023)
    Table 92. EcoBee Main Business
    Table 93. EcoBee Latest Developments
    Table 94. Schneider Electric Basic Information, Smart Thermostats Manufacturing Base, Sales Area and Its Competitors
    Table 95. Schneider Electric Smart Thermostats Product Portfolios and Specifications
    Table 96. Schneider Electric Smart Thermostats Sales (K Units), Revenue ($ Million), Price (USD/Unit) and Gross Margin (2018-2023)
    Table 97. Schneider Electric Main Business
    Table 98. Schneider Electric Latest Developments
    Table 99. Emerson Basic Information, Smart Thermostats Manufacturing Base, Sales Area and Its Competitors
    Table 100. Emerson Smart Thermostats Product Portfolios and Specifications
    Table 101. Emerson Smart Thermostats Sales (K Units), Revenue ($ Million), Price (USD/Unit) and Gross Margin (2018-2023)
    Table 102. Emerson Main Business
    Table 103. Emerson Latest Developments
    Table 104. LUX/GEO Basic Information, Smart Thermostats Manufacturing Base, Sales Area and Its Competitors
    Table 105. LUX/GEO Smart Thermostats Product Portfolios and Specifications
    Table 106. LUX/GEO Smart Thermostats Sales (K Units), Revenue ($ Million), Price (USD/Unit) and Gross Margin (2018-2023)
    Table 107. LUX/GEO Main Business
    Table 108. LUX/GEO Latest Developments
    Table 109. Carrier Basic Information, Smart Thermostats Manufacturing Base, Sales Area and Its Competitors
    Table 110. Carrier Smart Thermostats Product Portfolios and Specifications
    Table 111. Carrier Smart Thermostats Sales (K Units), Revenue ($ Million), Price (USD/Unit) and Gross Margin (2018-2023)
    Table 112. Carrier Main Business
    Table 113. Carrier Latest Developments
    Table 114. Energate Inc. Basic Information, Smart Thermostats Manufacturing Base, Sales Area and Its Competitors
    Table 115. Energate Inc. Smart Thermostats Product Portfolios and Specifications
    Table 116. Energate Inc. Smart Thermostats Sales (K Units), Revenue ($ Million), Price (USD/Unit) and Gross Margin (2018-2023)
    Table 117. Energate Inc. Main Business
    Table 118. Energate Inc. Latest Developments
    Table 119. Tado GmbH Basic Information, Smart Thermostats Manufacturing Base, Sales Area and Its Competitors
    Table 120. Tado GmbH Smart Thermostats Product Portfolios and Specifications
    Table 121. Tado GmbH Smart Thermostats Sales (K Units), Revenue ($ Million), Price (USD/Unit) and Gross Margin (2018-2023)
    Table 122. Tado GmbH Main Business
    Table 123. Tado GmbH Latest Developments
    Table 124. Control4 Basic Information, Smart Thermostats Manufacturing Base, Sales Area and Its Competitors
    Table 125. Control4 Smart Thermostats Product Portfolios and Specifications
    Table 126. Control4 Smart Thermostats Sales (K Units), Revenue ($ Million), Price (USD/Unit) and Gross Margin (2018-2023)
    Table 127. Control4 Main Business
    Table 128. Control4 Latest Developments
    Table 129. Netatmo Basic Information, Smart Thermostats Manufacturing Base, Sales Area and Its Competitors
    Table 130. Netatmo Smart Thermostats Product Portfolios and Specifications
    Table 131. Netatmo Smart Thermostats Sales (K Units), Revenue ($ Million), Price (USD/Unit) and Gross Margin (2018-2023)
    Table 132. Netatmo Main Business
    Table 133. Netatmo Latest Developments
    Table 134. Hive Home Basic Information, Smart Thermostats Manufacturing Base, Sales Area and Its Competitors
    Table 135. Hive Home Smart Thermostats Product Portfolios and Specifications
    Table 136. Hive Home Smart Thermostats Sales (K Units), Revenue ($ Million), Price (USD/Unit) and Gross Margin (2018-2023)
    Table 137. Hive Home Main Business
    Table 138. Hive Home Latest Developments
List of Figures
    Figure 1. Picture of Smart Thermostats
    Figure 2. Smart Thermostats Report Years Considered
    Figure 3. Research Objectives
    Figure 4. Research Methodology
    Figure 5. Research Process and Data Source
    Figure 6. Global Smart Thermostats Sales Growth Rate 2018-2029 (K Units)
    Figure 7. Global Smart Thermostats Revenue Growth Rate 2018-2029 ($ Millions)
    Figure 8. Smart Thermostats Sales by Region (2018, 2022 & 2029) & ($ Millions)
    Figure 9. Product Picture of WiFi Thermostats
    Figure 10. Product Picture of ZigBee Thermostats
    Figure 11. Product Picture of Others
    Figure 12. Global Smart Thermostats Sales Market Share by Type in 2022
    Figure 13. Global Smart Thermostats Revenue Market Share by Type (2018-2023)
    Figure 14. Smart Thermostats Consumed in Residential
    Figure 15. Global Smart Thermostats Market: Residential (2018-2023) & (K Units)
    Figure 16. Smart Thermostats Consumed in Commercial
    Figure 17. Global Smart Thermostats Market: Commercial (2018-2023) & (K Units)
    Figure 18. Global Smart Thermostats Sales Market Share by Application (2022)
    Figure 19. Global Smart Thermostats Revenue Market Share by Application in 2022
    Figure 20. Smart Thermostats Sales Market by Company in 2022 (K Units)
    Figure 21. Global Smart Thermostats Sales Market Share by Company in 2022
    Figure 22. Smart Thermostats Revenue Market by Company in 2022 ($ Million)
    Figure 23. Global Smart Thermostats Revenue Market Share by Company in 2022
    Figure 24. Global Smart Thermostats Sales Market Share by Geographic Region (2018-2023)
    Figure 25. Global Smart Thermostats Revenue Market Share by Geographic Region in 2022
    Figure 26. Americas Smart Thermostats Sales 2018-2023 (K Units)
    Figure 27. Americas Smart Thermostats Revenue 2018-2023 ($ Millions)
    Figure 28. APAC Smart Thermostats Sales 2018-2023 (K Units)
    Figure 29. APAC Smart Thermostats Revenue 2018-2023 ($ Millions)
    Figure 30. Europe Smart Thermostats Sales 2018-2023 (K Units)
    Figure 31. Europe Smart Thermostats Revenue 2018-2023 ($ Millions)
    Figure 32. Middle East & Africa Smart Thermostats Sales 2018-2023 (K Units)
    Figure 33. Middle East & Africa Smart Thermostats Revenue 2018-2023 ($ Millions)
    Figure 34. Americas Smart Thermostats Sales Market Share by Country in 2022
    Figure 35. Americas Smart Thermostats Revenue Market Share by Country in 2022
    Figure 36. Americas Smart Thermostats Sales Market Share by Type (2018-2023)
    Figure 37. Americas Smart Thermostats Sales Market Share by Application (2018-2023)
    Figure 38. United States Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 39. Canada Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 40. Mexico Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 41. Brazil Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 42. APAC Smart Thermostats Sales Market Share by Region in 2022
    Figure 43. APAC Smart Thermostats Revenue Market Share by Regions in 2022
    Figure 44. APAC Smart Thermostats Sales Market Share by Type (2018-2023)
    Figure 45. APAC Smart Thermostats Sales Market Share by Application (2018-2023)
    Figure 46. China Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 47. Japan Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 48. South Korea Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 49. Southeast Asia Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 50. India Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 51. Australia Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 52. China Taiwan Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 53. Europe Smart Thermostats Sales Market Share by Country in 2022
    Figure 54. Europe Smart Thermostats Revenue Market Share by Country in 2022
    Figure 55. Europe Smart Thermostats Sales Market Share by Type (2018-2023)
    Figure 56. Europe Smart Thermostats Sales Market Share by Application (2018-2023)
    Figure 57. Germany Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 58. France Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 59. UK Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 60. Italy Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 61. Russia Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 62. Middle East & Africa Smart Thermostats Sales Market Share by Country in 2022
    Figure 63. Middle East & Africa Smart Thermostats Revenue Market Share by Country in 2022
    Figure 64. Middle East & Africa Smart Thermostats Sales Market Share by Type (2018-2023)
    Figure 65. Middle East & Africa Smart Thermostats Sales Market Share by Application (2018-2023)
    Figure 66. Egypt Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 67. South Africa Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 68. Israel Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 69. Turkey Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 70. GCC Country Smart Thermostats Revenue Growth 2018-2023 ($ Millions)
    Figure 71. Manufacturing Cost Structure Analysis of Smart Thermostats in 2022
    Figure 72. Manufacturing Process Analysis of Smart Thermostats
    Figure 73. Industry Chain Structure of Smart Thermostats
    Figure 74. Channels of Distribution
    Figure 75. Global Smart Thermostats Sales Market Forecast by Region (2024-2029)
    Figure 76. Global Smart Thermostats Revenue Market Share Forecast by Region (2024-2029)
    Figure 77. Global Smart Thermostats Sales Market Share Forecast by Type (2024-2029)
    Figure 78. Global Smart Thermostats Revenue Market Share Forecast by Type (2024-2029)
    Figure 79. Global Smart Thermostats Sales Market Share Forecast by Application (2024-2029)
    Figure 80. Global Smart Thermostats Revenue Market Share Forecast by Application (2024-2029)

Nest
Honeywell
EcoBee
Schneider Electric
Emerson
LUX/GEO
Carrier
Energate Inc.
Tado GmbH
Control4
Netatmo
Hive Home

LP Information presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

• Primary Source
  Players/Suppliers
  Industry Experts
  Distributors/Traders
  Opinion Leaders
  Front-line Staff
  Marketing Executives

  Secondary Source
  Journals and Periodicals
  Government Bodies
  Annual Reports
  Presentations
  Paid Databases
  LPI Internal Repository

• Data Synthesis
  Information Gathering
  Collation of Data
  Estimation of Key Figures
  Analysis of Derived Insights

  Data Validation
  Triangulation with Data Models
  Reference Against Proprietary
  Databases
  Corroboration with Industry Experts

• Qualitative Analysis
  Market drivers
  Market challenges
  Market trends
  Five forces analysis

  Qualitative Analysis
  Market size and forecast
  Market segmentation
  Geographical insights
  Competitive landscape