Market Report · July 16, 2026
Report Feature
The future of the smart thermostats market looks promising with opportunities in the residential, office building, educational buildings, industrial building, retail, hospitality, and healthcare indu
stries. The global smart thermostats market is expected to grow with a CAGR of 31% from 2019 to 2024. The major drivers for this market are stringent government regulation towards energy saving, increasing demand for energy-efficient devices, and increasing adoption of smart home technology.A more than 150 pages report is developed to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of smart thermostats market report download the report brochure.
The study includes the smart thermostats market size and forecast for the global smart thermostats market by technology, component, end use industry, and region as follows:
By Technology [$M shipment analysis for 2019 – 2024]:
- Wired Networking
- Wireless Networking: Wi-Fi, ZigBee, Z-Wave, and Bluetooth
By Component [$M shipment analysis for 2019 – 2024]:
- Display Sensor
- Temperature Sensor
- Humidity Sensor
- Motion Sensor
By End Use Industry [$M shipment analysis for 2019 – 2024]:
- Residential
- Educational
- Office and Industrial Building
- Retail
- Hospitality and Healthcare
By Region [$M shipment analysis for 2013 – 2024]:
-
North America
- United States
- Canada
- Mexico
-
Europe
- Germany
- UK
- Italy
-
Asia Pacific
- China
- Japan
- India
- RoW
Some of the smart thermostats companies profiled in this report include Nest Labs, Inc., Honeywell International Inc., Ecobee, Inc. , Emerson Electric Co., Schneider Electric SE, Tado GmbH, Control4 Corporation, Ingersoll Rand PLC, Carrier Corporation, Nortek, Inc
Some of the features of this report:
- Market size estimates: Smart thermostats market size estimation in terms of value ($M) shipment.
- Trend and forecast analysis: Market trend (2013-2018) and forecast (2019-2024) end use industry.
- Segmentation analysis: Market size by various segments such as by technology, component, end use industry, and region.
- Regional analysis: Smart thermostats market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth opportunities: Analysis on growth opportunities in different applications and regions for smart thermostats in the smart thermostats market.
- Strategic analysis: This includes M&A, new product development, and competitive landscape for, smart thermostats in the smart thermostats market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
Table of Contents
1. Executive Summary 2. Market Trends and Forecast Analysis from 2013 to 2024 2.1: Introduction, Background, and Classification 2.2: Supply Chain 2.3: Industry Drivers and Challenges
5. Competitor Analysis 5.1: Product Portfolio Analysis 5.2: Market Share Analysis 5.3: Operational Integration 5.4: Regional Reach 5.5: Porter’s Five Forces Analysis
7. Company Profiles of Leading Players 7.1: Nest Labs 7.2: Honeywell International 7.3: Ecobee 7.4: Emerson Electric 7.5: Schneider Electric 7.6: Tado 7.7: Control4 Corporation 7.8: Ingersoll Rand PLC 7.9: Carrier Corporation 7.10: Nortek
Methodology
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in this market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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Key Questions
- • Which segments will grow at a faster pace and why?
- • Which region will grow at a faster pace and why?
- • What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
- • What are the business risks and competitive threats in this market?
- • What are the emerging trends in this market and the reasons behind them?
- • What are some of the changing demands of customers in the market?
- • What are the new developments in the market? Which companies are leading these developments?
- • Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
- • What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
- • What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
