South Korea Smart Thermostat Market Size & Outlook
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South Korea smart thermostat market highlights
- The South Korea smart thermostat market generated a revenue of USD 50.3 million in 2024 and is expected to reach USD 153.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 21.1% 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 50.3 million |
| Market revenue in 2030 | USD 153.4 million |
| Growth rate | 21.1% (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, South Korea accounted for 1.0% 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 Asia Pacific, China smart thermostat market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 179.2 million by 2030.
The country is experiencing notable growth in the smart thermostat market owing to increasing emphasis on energy efficiency and smart city initiatives, rising need to reduce energy costs and growing focus of companies to integrate smart thermostats with other smart home devices.
Furthermore, the government has started initiatives for intelligent home through collaborative efforts. The new project helps to create intelligent homes within apartment buildings, enhancing residential living through technologies. Such initiatives are expected to improve the demand for smart thermostats, thereby supporting the growth of the market.
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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 |
South Korea 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 78.53% in 2024.
Horizon Databook has segmented the South Korea smart thermostat market based on wi-fi, zigbee, lorawan covering the revenue growth of each sub-segment from 2018 to 2030.
The country is experiencing notable growth in the smart thermostat market owing to increasing emphasis on energy efficiency and smart city initiatives, rising need to reduce energy costs and growing focus of companies to integrate smart thermostats with other smart home devices.
Furthermore, the government has started initiatives for intelligent home through collaborative efforts. The new project helps to create intelligent homes within apartment buildings, enhancing residential living through technologies. Such initiatives are expected to improve the demand for smart thermostats, thereby supporting the growth of the market.
- South Korea Smart Thermostat Market Technology Outlook (Revenue, USD Million , 2018-2030)
- Wi-Fi
- Zigbee
- Others
- LoRaWAN
- South Korea Smart Thermostat Market Product Outlook (Revenue, USD Million , 2018-2030)
- Connected
- Standalone
- Learning
- South Korea Smart Thermostat Market End Use Outlook (Revenue, USD Million , 2018-2030)
- Residential
- Commercial
- Industrial
- South Korea 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 South Korea Smart Thermostat Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into South Korea Smart Thermostat Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
South Korea Smart Thermostat Market, 2018-2030 (US$M)
South Korea smart thermostat market statistics, by technology, 2018-2030 (US$M)
