"Actionable Insights to Fuel Your Growth"

Thermostat Market Size, Share and Global Trend By Product (Smart Thermostat, Mechanical Thermostat, Programmable Thermostat, Others), By Deployment (Wired, Wireless), By Application (Industrial, Commercial, Residential) and Regional Forecast, 2024-2032

Published On : July 17, 2019 | Report ID: FBI100934 | Status : Ongoing



Internet of Things (IoT) has changed the way of thinking of the world. Not in the commercial or industrial sector, it is also widely used in the residential area. Internet of Things provides communication, connection, and interconnection between various devices or physical components. The thermostat is one of the significant components in the world of Internet of Thing. The thermostat is the automation device that is equipped in various appliances such as air-conditioning, heating of the HVAC system in both commercial and residential sectors.

The thermostat is the component that observes the temperature of the device or system and maintains a constant temperature. The increasing rate per unit of electricity is one of the major concerns of the residential sector. Thermostat equipped devices make the device automated and smart adjustable, which help save energy and reduce electricity bill. The thermostat has wide application in central heating, HVAC system, water heaters, as well as kitchen equipment like ovens and refrigerators, medical and scientific incubators. In the recent few years, owing to the increase in internet penetration across the world, which resulted in an increase in demand for IOS-based devices.

To gain extensive insights into the market, Request for Customization

On the basis of the product, the global thermostat market can be segmented into the smart thermostat, mechanical thermostat, programmable thermostat, and others. Smart thermostat and programmable thermostat are expected to dominate the market in the above segmentation. A smart thermostat makes the device energy-efficient, smart controlling, and reduces per unit power cost these are the parameters that will help to propel the smart thermostat market. A programmable thermostat helps to make the devices consumer-driven. As per the choice of the customer, they can adjust the room temperature. The use of IOT in programmable thermostat equipped devices made an attractive point to the customers. It helps to reduce energy loss by adjusting the temperature automatically according to the requirement.

On the basis of deployment, the global thermostat market is segmented into wired and wireless. The wireless thermostat is expected to dominate the market in the above segmentation. Advancement in technology with the introduction of IOT, which made tasks easy. Also, rise the adoption of smart home systems and technologies in household equipment like the air conditioner, washing machines, lights, etc. The wireless thermostat helps in saving electricity, which influences customers to buy energy-efficient and smart equipment’s.

On the basis of application, the global thermostat market is segmented into industrial, commercial, and residential. The thermostat is widely used in all the above segmentation. It facilitates the smart and effective management of temperature in residential as well as commercial segments. Owing to the increase in the rate of power per unit consumer durable industry comes up with the use of smart thermostat in the equipment to resolve a high electricity bill problem. In healthcare, the thermostat is used in the HVAC system to keep a sanitary and safe environment for patients and staff alike. Also, it is used for building an automation system in the hospital that helps to maintain temperature, pressurization, humidity, lighting, life safety, and security while meeting the comfort and safety needs of patients. In industries like chemical, food & beverages, etc. thermostat equipped equipment is widely used to maintain the temperature inside the plant.

The factor that is expected to drive the growth of the global thermostat market is growing urbanization, which leads to an increase in demand for smart equipment in residential and commercial. An increase in awareness and acceptance of advanced technology and IOT enabled devices will enhance the demand for the thermostat market. Owing to the rise in the rate of per unit power consumer durables companies come up with a solution with the use of thermostat in the devices, which reduces the electricity bills. The thermostat helps to monitor, control, and make device advance so it can adjust its temperature automatically according to the requirement. Also, owing to upcoming advance technology such as voice-activated, and self-learning thermostat are domination the market.

The factor that is expected to restrain the growth of the global thermostat market is the initial installation cost associated with the device is high. Owing to the use of IOT in devices they are monitored by the help of the internet; sometimes due to the poor internet network, the devices may not work.

Key Market Players

Some of the major companies in the global thermostat market are Carrier Corporation, Control4 Corporation, Ecobee, Inc., Nest Labs, Ingersoll Rand Inc., Emerson Electric Co, Honeywell Inc., Schneider Electric SE, NorTek Inc., Tado GmbH, and Pro1 IAQ.




By Product

· Smart Thermostat

· Mechanical Thermostat

· Programmable Thermostat

· Others

By Deployment

· Wired

· Wireless

By Application

· Industrial

· Commercial

· Residential

By Geography

· North America (the USA and Canada)

· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

· Latin America (Brazil, Mexico, and Rest of Latin America)

· Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)

Regional Analysis

The global thermostat market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In North America a large number of industries thermostat like food & beverages, chemical industries are available, and these are widely using thermostat equipped devices for their operational works. Also, the residential sector is extensively using smart thermostat powered devices in the home automation system, which helps them to control and monitor the temperature as well as saves electricity bills. Highly aware of advanced technology and high adoption rate among the people help to propel the thermostat market in the region. In Europe, owing to the increase in construction activities along with the smart home project to save electricity. Also, an increase in government initiatives by introducing a straight energy efficiency standard to encourage the adoption of smart and energy-efficient devices. In Asia Pacific countries like China, India, Japan, and South Korea are the major contributors to the thermostat market. In India, owing to high internet penetration and smartphone in recent years helped to propel for the adoption of thermostat equipped devices in the residential and commercial sector. Also, it is widely used for the home automation system owing to the high rate of per unit power in the region. In Middle East countries like UAE hospitality is one of the main sources of income for the economy. Owing to the use of AI and IOT in the hotels which help to manage energy costs. Also, energy-management thermostats automatically set temperatures back in unoccupied rooms to save energy.

Key Industry Developments

  • In Feb 2019, Samsung India has started importing air-conditioners from Vietnam through the free trade agreement which will help to boost the sell air-conditioners in the region and also boost the market of thermostat which is widely used in air-conditioners.
  • In Mar 2018, Blue Star, air-conditioners and refrigeration maker is planning to its air-conditioners capacity to 1- million units. Currently, the company is producing 4 lakh units from Himachal Pradesh unit. This will also help the market of thermostat which is widely used in air-conditioners.
  • In Dec 2018, Siemens has started work for world largest smart city building technologies at the site of Expo 2020 Dubai. The building with the expo site will be connected, monitored and controlled by using Siemens cloud-based operating system for the internet of things. This new smart construction will help to boost the market of thermostat which is widely used in air-conditioners.

  • Ongoing
  • 2023
  • 2019-2022

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Energy & Power Clients

The Japan Research

Client Testimonials

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.