PUBLISHER: Polaris Market Research | PRODUCT CODE: 1786801
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1786801
The global connected thermostat market size is expected to reach USD 9.74 billion by 2034, according to a new study by Polaris Market Research. The report "Connected Thermostat Market Size, Share, Trends, Industry Analysis Report By Technology (Wi-Fi Enabled, Bluetooth Thermostats), By Distribution Channel, By Application, By End Use, By Region - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
A connected thermostat is an advanced climate control device that links to the internet, allowing users to manage their home's heating, ventilation, and air conditioning (HVAC) systems remotely. These smart devices provide convenience by enabling adjustments via smartphones, tablets, or other internet-enabled platforms, even when the user is away from home. Beyond simple remote control, connected thermostats often include intelligent features such as learning capabilities, which allow them to adapt to household routines, and the ability to monitor real-time energy usage, aiming to optimize comfort while simultaneously promoting energy efficiency.
The connected thermostat market is experiencing significant growth, driven by a combination of increasing smart home adoption and a strong demand for energy efficiency. As more consumers integrate various smart devices into their daily lives, the desire for a cohesive and automated living environment extends naturally to climate control, making connected thermostats an essential component. Simultaneously, rising energy costs and a heightened global awareness of environmental sustainability are prompting both individuals and businesses to seek out solutions that can reduce their carbon footprint and lower utility expenses through optimized energy use. These combined factors create a robust demand trend for advanced, intelligent thermostat solutions.
By technology, the Bluetooth thermostats segment held the largest share in 2024 due to their extensive range and robust connectivity, allowing for seamless integration with broader smart home ecosystems and reliable remote access.
By distribution channel, the online distribution channels segment held the largest share in 2024, driven by the convenience of e-commerce platforms as they offer vast product selections, competitive pricing, and the ability for consumers to easily compare options and read reviews.
By application, the retrofit and renovation segment held the largest share in 2024, primarily because of the immense existing base of residential and commercial buildings that are being upgraded.
By end use, the residential segment held the largest share in 2024, fueled by the large number of households globally and increasing consumer demand for smart home solutions. Homeowners are seeking improved comfort.
By region, North America held the largest share in 2024, attributed to the high penetration of smart home technologies, a well-developed HVAC infrastructure, and a strong consumer inclination toward energy-saving innovations and home automation. The Asia Pacific market is rapidly emerging, fueled by increasing urbanization, rising disposable incomes, and a growing awareness of energy management solutions across both residential and commercial sectors.
A few key players in the connected thermostat market include Google, Resideo Technologies, ecobee (Generac Power Systems), Johnson Controls, Honeywell International, Siemens, Emerson Electric, Carrier Global Corporation, Lennox International, Trane Technologies, and Daikin Industries.
Polaris Market Research has segmented the connected thermostat market report based on technology, distribution channel, application, end use, and region:
By Technology Outlook (Revenue - USD Billion, 2020-2034)
Wi-Fi Enabled
Bluetooth Thermostats
By Distribution Channel Outlook (Revenue - USD Billion, 2020-2034)
Online
Retail Stores
Wholesale Stores
Others
By Application Outlook (Revenue - USD Billion, 2020-2034)
New Construction
Retrofit & Renovation
By End Use Outlook (Revenue - USD Billion, 2020-2034)
Commercial
Residential
Industrial
By Regional Outlook (Revenue - USD Billion, 2020-2034)
North America
U.S.
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Vietnam
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of Middle East & Africa
Latin America
Mexico
Brazil
Argentina
Rest of Latin America