North America Smart Thermostat Market Size & Outlook
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North America smart thermostat market highlights
- The North America smart thermostat market generated a revenue of USD 3,078.8 million in 2024.
- The market is expected to grow at a CAGR of 14.2% from 2025 to 2030.
- In terms of segment, wi-fi was the largest revenue generating technology in 2024.
- Zigbee is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2025 to 2030.
North America data book summary
| Market revenue in 2024 | USD 3,078.8 million |
| Market revenue in 2030 | USD 7,758.8 million |
| Growth rate | 14.2% (CAGR from 2024 to 2030) |
| Largest segment | Wi-fi |
| Fastest growing segment | Zigbee |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Wi-Fi, Zigbee |
| 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, North America region accounted for 61.6% of the global smart thermostat market in 2024.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,614.7 million by 2030.
This growth can be attributed to the increasing adoption of smart home technologies, energy efficiency initiatives, and the rising demand for IoT devices. Consumers in the region are increasingly aware of the benefits of smart thermostats in terms of convenience, cost savings, and environmental impact, leading to higher adoption rates compared to other regions.
In the region, companies are exerting efforts to launch smart thermostats for residential and commercial applications, this, in turn, supporting the growth of the market.
For instance, in February 2024, Carrier Corporation (U.S.) launched a new smart thermostat. This thermostat is designed to enhance comfort and energy efficiency for residential and light commercial applications.
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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 |
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 74.97% in 2024.
Horizon Databook has segmented the North America smart thermostat market based on wi-fi, zigbee, lorawan covering the revenue growth of each sub-segment from 2018 to 2030.
This growth can be attributed to the increasing adoption of smart home technologies, energy efficiency initiatives, and the rising demand for IoT devices. Consumers in the region are increasingly aware of the benefits of smart thermostats in terms of convenience, cost savings, and environmental impact, leading to higher adoption rates compared to other regions.
In the region, companies are exerting efforts to launch smart thermostats for residential and commercial applications, this, in turn, supporting the growth of the market.
For instance, in February 2024, Carrier Corporation (U.S.) launched a new smart thermostat. This thermostat is designed to enhance comfort and energy efficiency for residential and light commercial applications.
- North America Smart Thermostat Market Technology Outlook (Revenue, USD Million , 2018-2030)
- Wi-Fi
- Zigbee
- Others
- LoRaWAN
- North America Smart Thermostat Market Product Outlook (Revenue, USD Million , 2018-2030)
- Connected
- Standalone
- Learning
- North America Smart Thermostat Market End Use Outlook (Revenue, USD Million , 2018-2030)
- Residential
- Commercial
- Industrial
- 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 continent-level data and insights on the North America Smart Thermostat Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into North America Smart Thermostat Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
North America Smart Thermostat Market, 2018-2030 (US$M)
North America smart thermostat market statistics, by technology, 2018-2030 (US$M)
