Mexico - North America Smart Thermostat Market Size & Outlook
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Mexico smart thermostat market highlights
- The Mexico smart thermostat market generated a revenue of USD 306.3 million in 2024 and is expected to reach USD 822.4 million by 2030.
- The Mexico market is expected to grow at a CAGR of 18.6% from 2025 to 2030.
- In terms of segment, wi-fi was the largest revenue generating technology in 2024.
- LoRaWAN is the most lucrative technology segment registering the fastest growth during the forecast period.
Smart thermostat market data book summary
| Market revenue in 2024 | USD 306.3 million |
| Market revenue in 2030 | USD 822.4 million |
| Growth rate | 18.6% (CAGR from 2025 to 2030) |
| Largest segment | Wi-fi |
| Fastest growing segment | LoRaWAN |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Wi-Fi, Zigbee, LoRaWAN |
| Key market players worldwide | Centrica PLC, Snap One Holdings Corp, Generac Holdings Inc, Emerson Electric Co, Alphabet Inc Class A, Honeywell International Inc, Johnson Controls International PLC, Resideo Technologies Inc, Siemens AG |
Other key industry trends
- In terms of revenue, Mexico accounted for 6.1% of the global smart thermostat market in 2024.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. smart thermostat market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 822.4 million by 2030.
The market for smart thermostats in Mexico is experiencing steady growth. The rapid adoption of smart home devices, such as security cameras, smart lights, and appliances, has created a significant demand for compatible smart thermostats.
In the country, green building certification such as LEED is becoming the most important, pushing developers and property owners to adopt energy-saving technologies. Smart thermostats help buildings meet energy efficiency standards, making them essential in green buildings.
Their adoption in commercial and residential projects contributes to reducing the overall carbon footprint and supports sustainability efforts. Further, the increasing urbanization, rising disposable incomes, and growing awareness of smart home technologies are improving the demand for smart thermostats.
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Publish Date: Dec 03, 2024
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Smart Thermostat Market Scope
Smart Thermostat Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Johnson Controls International PLC | View profile | 102,000 | One Albert Quay, Cork, Ireland, T12 X8N6 | www.johnsoncontrols.com |
| Alphabet Inc Class A | View profile | 180,895 | 1600 Amphitheatre Parkway, Mountain View, CA, United States, 94043 | www.abc.xyz |
| Siemens AG | View profile | 321,000 | Werner-von-Siemens-Strabe 1, Munich, BY, Germany, 80333 | www.siemens.com |
| Honeywell International Inc | View profile | 95,000 | 855 South Mint Street, Charlotte, NC, United States, 28202 | www.honeywell.com |
| Emerson Electric Co | View profile | 67,000 | 8000 West Florissant Avenue, P.O. Box 4100, St. Louis, MO, United States, 63136 | www.emerson.com |
| Centrica PLC | View profile | 21,014 | Maidenhead Road, Millstream, Windsor, Berkshire, United Kingdom, SL4 5GD | www.centrica.com |
| Generac Holdings Inc | View profile | 8,600 | S45 W29290 Highway 59, Waukesha, WI, United States, 53189 | www.generac.com |
| Snap One Holdings Corp | View profile | 1,610 | 1800 Continental Boulevard, Suite 200, Charlotte, NC, United States, 28273 | www.snapone.com |
| Resideo Technologies Inc | View profile | 14,000 | 16100 North 71st Street, Suite 550, Scottsdale, AZ, United States, 85254 | www.resideo.com |
Mexico - North America Smart Thermostat Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Smart Thermostat Market Outlook will help companies and investors design strategic landscapes.
Wi-Fi was the largest segment with a revenue share of 79.95% in 2024.
Horizon Databook has segmented the Mexico - North America smart thermostat market based on wi-fi, zigbee, lorawan covering the revenue growth of each sub-segment from 2018 to 2030.
The market for smart thermostats in Mexico is experiencing steady growth. The rapid adoption of smart home devices, such as security cameras, smart lights, and appliances, has created a significant demand for compatible smart thermostats.
In the country, green building certification such as LEED is becoming the most important, pushing developers and property owners to adopt energy-saving technologies. Smart thermostats help buildings meet energy efficiency standards, making them essential in green buildings.
Their adoption in commercial and residential projects contributes to reducing the overall carbon footprint and supports sustainability efforts. Further, the increasing urbanization, rising disposable incomes, and growing awareness of smart home technologies are improving the demand for smart thermostats.
- Mexico - North America Smart Thermostat Market Technology Outlook (Revenue, USD Million , 2018-2030)
- Wi-Fi
- Zigbee
- Others
- LoRaWAN
- Mexico - North America Smart Thermostat Market Product Outlook (Revenue, USD Million , 2018-2030)
- Connected
- Standalone
- Learning
- Mexico - North America Smart Thermostat Market End Use Outlook (Revenue, USD Million , 2018-2030)
- Residential
- Commercial
- Industrial
- Mexico - North America Smart Thermostat Market Installation Outlook (Revenue, USD Million , 2018-2030)
- New Installation
- Retrofit
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico - North America Smart Thermostat Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Mexico - North America Smart Thermostat Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Mexico - North America Smart Thermostat Market, 2018-2030 (US$M)
Mexico smart thermostat market statistics, by technology, 2018-2030 (US$M)
