세계의 스마트 서모스탯 시장 : 용도별, 제품 유형별, 기술 및 접속성별, 지역별 분석 및 예측(2025-2035년)

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Smart Thermostat Market Overview

The global smart thermostat market is projected to grow from $7,249.6 million in 2025 to $37,134.9 million by 2035, representing a strong CAGR of 17.75%. This growth has been driven by the rapid adoption of connected home technologies, the expansion of smart home ecosystems, and increasing regulatory pressure to improve building energy efficiency. Advancements in HVAC automation, falling sensor and connectivity costs, and heightened consumer focus on energy savings are further accelerating market momentum. As residential and commercial users seek to manage utility costs and reduce carbon emissions, smart thermostats are becoming a central component of modern, data-driven HVAC systems.

Wi-Fi-enabled and learning thermostats are expected to dominate the technology mix due to their ability to optimize temperature control using occupancy data, weather intelligence, and adaptive machine-learning algorithms. Deeper integration with voice assistants, home energy management platforms, and utility demand response programs is also propelling adoption, particularly as utilities pursue flexible load-management strategies to reduce peak demand. However, the market continues to face challenges, including interoperability gaps across connected devices, cybersecurity risks, higher upfront costs for advanced solutions, and installation limitations in older buildings.

Supported by rising building electrification, stringent energy-efficiency standards, and increased participation from HVAC OEMs, utilities, and service providers, the smart thermostat market is positioned for sustained and robust expansion. As a key interface for comfort management, energy optimization, and grid-responsive operations, the smart thermostat will play a pivotal role in the evolution of next-generation intelligent building infrastructure.

Market Introduction

The study conducted by BIS Research positions the smart thermostat market as a key enabler of intelligent, connected, and energy-efficient building environments. Smart thermostats are rapidly evolving into advanced control platforms that deliver real-time HVAC optimization, adaptive comfort management, and data-driven energy efficiency across residential, commercial, and small enterprise settings. These systems are becoming increasingly essential as buildings face growing demands for energy conservation, carbon reduction, and integration with broader smart home and smart building ecosystems.

With advancements in IoT connectivity, AI-enabled occupancy sensing, predictive temperature control, and seamless integration with voice assistants and building management platforms, smart thermostats are becoming more autonomous, user-centric, and interoperable. Their software-defined architecture allows for rapid configuration across diverse HVAC systems, ranging from central air conditioning to heat pumps and zone-based climate systems, unlocking new value streams for consumers, utilities, and service providers. Enhanced analytics and cloud-based interfaces further enable remote monitoring, grid-interactive control, and participation in demand-response programs.

The market is expected to experience strong growth over the next decade, driven by rising energy-efficiency regulations, accelerating smart home adoption, increased focus on building electrification, and expanding utility-led initiatives to improve load flexibility. As buildings transition toward more intelligent, automated, and data-driven operations, smart thermostats will play a foundational role in enabling comfort, efficiency, and grid-responsive functionality at scale.

Industrial Impact

The smart thermostat market has been delivering significant industrial impact, transforming the HVAC, building automation, and energy management sectors through advancements in connected devices, adaptive intelligence, and real-time environmental control. Smart thermostat, integrating sensors, learning algorithms, and IoT connectivity, enables more efficient temperature regulation, reduced energy consumption, and enhanced user comfort across residential, commercial, and light industrial environments. By serving as an intelligent interface between occupants, HVAC equipment, and building energy management systems, a smart thermostat significantly improves system efficiency and operational visibility.

The integration of next-generation occupancy detection, AI-driven predictive control, and automated demand-response capabilities is accelerating the shift toward modular, scalable, and software-driven HVAC ecosystems. These advancements enhance energy flexibility, reduce peak load demands, and allow utilities to coordinate grid-responsive behavior without requiring major infrastructure upgrades. Additionally, deployments across smart homes, commercial buildings, multi-unit residences, and utility-led energy-efficiency programs are fostering deeper collaboration among HVAC manufacturers, smart home technology providers, energy retailers, utilities, and building automation vendors.

As industries prioritize energy efficiency, building electrification, carbon reduction, and digital transformation, the smart thermostat market is expected to play a central role in enabling more responsive, efficient, and data-driven building operations. The surrounding ecosystem is expanding rapidly, supported by stringent efficiency standards, accelerated adoption of connected HVAC solutions, and increasing investment in AI-enabled building technologies. Collectively, these trends position smart thermostats as a foundational component of next-generation intelligent building infrastructure.

Market Segmentation:

Segmentation 1: by Application

• Residential
• Commercial
• Industrial

Residential Segment to Dominate the Smart Thermostat Market (by Application)

The residential segment is projected to lead the smart thermostat market by application, driven by the rapid expansion of smart home ecosystems, rising consumer focus on energy savings, and growing adoption of Wi-Fi-enabled and learning thermostats. Households are increasingly integrating smart thermostats with connected HVAC systems, voice assistants, home energy management platforms, and utility demand-response programs. With features such as occupancy sensing, geofencing, adaptive scheduling, and real-time energy insights, residential deployments provide the largest installed base and the fastest volume-driven growth. These devices also play a fundamental role in supporting home electrification and efficiency upgrades.

The commercial segment is expected to follow, emerging as one of the most dynamic growth areas due to the increasing digitization of commercial buildings and widespread adoption of building automation and energy management systems. Office complexes, retail outlets, hospitality properties, educational institutions, and healthcare facilities are leveraging smart thermostats to optimize HVAC performance, enhance occupant comfort, lower operational costs, and comply with stricter energy-efficiency regulations. Commercial environments offer strong scalability, particularly when integrated with centralized building management systems, advanced analytics, and multi-zone climate control strategies.

The industrial segment, while smaller in comparison, is set to experience steady growth as facilities begin adopting smart thermostats to improve environmental monitoring, streamline HVAC energy use, and support broader digital transformation initiatives. Manufacturing plants, warehouses, and light industrial units are using smart thermostats to maintain equipment-safe temperature ranges, enhance worker comfort, and reduce peak-load HVAC consumption. Integration with industrial automation platforms and energy-efficiency programs further strengthens the value proposition.

Together, these application segments are driving the evolution of the smart thermostat market toward more connected, efficient, and intelligence-driven HVAC management, supporting improved user comfort, reduced energy costs, and enhanced building-level sustainability.

Segmentation 2: by Product Type

• Standalone
• Connected
• Learning

Connected Thermostats to Maintain Dominance in the Smart Thermostat Market (by Product Type)

Connected thermostats are projected to remain the dominant product segment in the global smart thermostat market, maintaining the largest share through 2035. This continued leadership is supported by widespread adoption of Wi-Fi-enabled HVAC control, integration with smart home ecosystems, and increasing deployment through utility energy-efficiency and demand-response programs. Connected thermostats offer seamless app-based control, remote monitoring, integration with voice assistants, and compatibility with diverse HVAC systems, making them the preferred choice for both consumers and service providers.

Connected devices continue to lead adoption across North America, Europe, and Asia-Pacific, where smart home penetration, building electrification programs, and regulatory focus on energy efficiency are accelerating demand. Their ability to provide real-time control, automate temperature settings, and support grid-responsive load management ensures sustained dominance through the forecast period.

In contrast, the learning thermostat segment is projected to grow rapidly in the coming years. Growth is fueled by AI-enabled capabilities such as adaptive scheduling, occupancy detection, energy-use prediction, and dynamic optimization. As algorithms become more sophisticated and user-friendly, learning thermostats are gaining traction among tech-forward homeowners and commercial users seeking deeper automation and higher energy savings.

The standalone thermostat segment is expected to rise steadily. These devices appeal to cost-sensitive consumers and facilities requiring basic programmability without advanced connectivity features. While standalone units play an important role in budget-driven or retrofit applications, their growth will remain comparatively moderate due to rising demand for connected and intelligent HVAC solutions.

While learning and standalone thermostats will contribute to overall market expansion, connected thermostats are expected to remain the highest-value segment. Their strong integration capabilities, widespread compatibility, and ability to support smart home ecosystems and utility programs ensure that connected thermostats will retain a leading role in shaping the evolution of intelligent, efficient, and automated building environments through 2035.

Segmentation 3: by Technology/Connectivity

• Wired Networking
• Wireless Networking

Segmentation 4: by Region

• North America: U.S., Canada, Mexico
• Europe: Germany, France, U.K., Spain, Italy, and Rest-of-Europe
• Asia-Pacific: China, Japan, South Korea, India, Australia, and Rest-of-Asia-Pacific
• Rest-of-the-World: South America and the Middle East and Africa

North America is expected to maintain its leading position in the global smart thermostat market, holding the highest market value throughout the forecast period. This leadership is driven by high smart home penetration, strong adoption of connected HVAC systems, and stringent building energy-efficiency standards across the U.S. and Canada. Widespread use of Wi-Fi-enabled thermostats, integration with home automation platforms, and extensive utility-driven energy-efficiency and demand-response programs further reinforce North America's dominance.

Deepening electrification of buildings, large-scale deployment of AMI infrastructure, and regulatory emphasis on reducing HVAC-related emissions continue to stimulate market expansion. North America remains the most advanced ecosystem for smart thermostats, supported by high consumer awareness, strong OEM presence, and favorable rebate programs from utilities and state energy agencies.

The Asia-Pacific region is projected to be the fastest-growing smart thermostat market globally. Growth is fueled by rapid urbanization, increasing residential and commercial construction, and rising adoption of smart home technologies across China, Japan, South Korea, India, and Australia. Government initiatives promoting energy-efficient buildings and digital infrastructure are accelerating adoption. Increasing electricity demand, expanding middle-class households, and growing interest in connected HVAC systems are driving rapid integration of smart thermostats across both residential and commercial properties. APAC's strong momentum in smart city development, digital building technologies, and IoT-enabled HVAC solutions positions the region as the most transformative and high-growth market globally.

Europe represents one of the most mature and technologically advanced smart thermostat markets. Growth is driven by stringent EU regulations targeting building energy efficiency, widespread smart meter adoption, and increasing electrification of heating, including heat pumps. Countries such as Germany, the U.K., the Netherlands, France, and the Nordics are leading the adoption of smart thermostats through strong policy support, high awareness of energy savings, and integration with advanced building automation systems. Europe's emphasis on reducing heating-related emissions and enhancing building performance continues to drive steady and sustained market growth.

Demand: Drivers, Limitations, and Opportunities

Market Demand Drivers: Rising Focus on Energy Efficiency and Sustainability

The smart thermostat market has been experiencing strong demand growth, driven by the increasing emphasis on energy efficiency, sustainability, and reduced operational costs across residential, commercial, and industrial sectors. Heating and cooling represent some of the most energy-intensive processes in buildings, and smart thermostats provide a practical solution to optimize HVAC energy use. By automatically adjusting temperature settings based on occupancy patterns, schedules, and external weather conditions, these devices help users reduce utility bills while lowering carbon footprints. As governments and regulatory agencies introduce stricter energy-efficiency standards, smart thermostats are becoming essential tools in achieving sustainability goals globally.

Regulatory and incentive frameworks are accelerating adoption. For instance, in January 2025, the U.S. Department of Energy updated its energy-efficiency guidelines, strongly recommending smart thermostats to meet carbon-reduction targets. Similarly, the European Union's Green Deal emphasizes the role of smart home technologies, including smart thermostats, in reducing energy consumption across residential and commercial buildings. State-level programs in the U.S., such as those in California and New York, offer tax credits and rebates for energy-efficient devices, making smart thermostats more accessible and cost-effective for consumers and businesses alike.

The commercial and industrial sectors are also driving demand, with many organizations implementing smart thermostats as part of broader energy-management strategies. Large corporations and industrial facilities leverage these devices to reduce operational costs, meet regulatory compliance, and improve energy efficiency. As governments continue to encourage energy-efficient technologies, smart thermostats are expected to see widespread adoption, supporting both consumer and large-scale energy-saving initiatives.

Market Challenges: Data Privacy and Cybersecurity Concerns

Escalating cybersecurity and data privacy risks remain significant restraints on smart thermostat adoption across all sectors. As networked devices, smart thermostats collect sensitive occupancy, schedule, and usage data while communicating with cloud platforms and executing remote commands, making them potential targets for cyberattacks. Concerns include unauthorized temperature manipulation, device bricking, data exfiltration, and exploitation as entry points into broader home or enterprise networks.

These risks are compounded by heterogeneous device fleets, inconsistent patching practices, and long product lifecycles. High-profile vulnerabilities underscore the potential impact; for instance, in October 2023, Bosch addressed a firmware flaw (CVE-2023-49722) in its BCC100 smart-thermostat line that could have allowed attackers to replace device firmware and access internal networks. Similarly, in July 2025, the U.S. Cybersecurity and Infrastructure Security Agency (CISA) issued alerts regarding critical vulnerabilities in industrial and commercial Wi-Fi thermostats from Honeywell, Medtronic, Mitsubishi, LG, and Network Thermostat, highlighting the exposure of Internet-connected units in operational environments.

Until baseline security measures, including secure boot, signed firmware, hardware roots of trust, rapid patch deployment, and robust lifecycle support, become universal, cybersecurity concerns will continue to slow procurement cycles, push buyers toward vetted devices and managed services, and, in some cases, delay smart thermostat rollouts.

Market Opportunities: Retrofit and Commercial/Industrial Deployment

The retrofit market represents a major growth opportunity for smart thermostats, particularly in commercial and industrial buildings with legacy HVAC systems. Upgrading to a smart thermostat allows businesses to optimize energy use, reduce operational costs, and integrate HVAC systems with broader building management platforms without a complete system overhaul. This is particularly relevant in regions with evolving energy regulations that require improved efficiency.

Notable initiatives illustrate this potential. For instance, in March 2025, Honeywell's commercial retrofit program installed smart thermostats in over 1,000 retail locations across the U.S., aiming to reduce energy costs by 20% over five years. Similarly, Siemens launched a retrofit program in May 2025, deploying smart thermostats across 300 commercial properties in the U.K., projecting a 15% reduction in energy consumption. These examples demonstrate how existing infrastructure can be modernized cost-effectively.

Emerging markets such as Asia-Pacific and Latin America offer additional opportunities, driven by rapid urbanization, rising disposable incomes, and growing regulatory emphasis on energy efficiency. Smart thermostats designed for easy installation, wireless connectivity, and flexible integration are well-positioned to capture market share in these regions. As urban development continues and energy-efficiency goals become more pressing, retrofit and new-building deployments of smart thermostats will be key drivers of global market growth.

How can this report add value to an organization?

Product/Innovation Strategy: This report provides comprehensive insights into the evolving smart thermostat market, helping organizations align their product strategies with the growing demand for energy efficiency, connected home solutions, and intelligent HVAC management. It examines innovations such as AI-driven predictive temperature control, occupancy-based adaptive scheduling, IoT-enabled remote monitoring, multi-zone HVAC integration, and compatibility with voice assistants and building management platforms. These technologies are reshaping the smart thermostat landscape by improving energy optimization, enhancing user comfort, and enabling participation in utility demand-response and grid-interactive programs. By highlighting modular, scalable, and interoperable thermostat solutions across residential, commercial, and industrial applications, the report supports R&D planning, platform development, and long-term product innovation roadmaps for stakeholders in HVAC, smart home, and energy-efficiency markets.

Growth/Marketing Strategy: The smart thermostat market presents significant growth opportunities for device manufacturers, utilities, building automation providers, and technology integrators. Key strategies driving this market include large-scale residential deployments, commercial retrofit programs, utility-led incentive initiatives, and geographic expansion into emerging regions. Companies are increasingly investing in AI-based learning algorithms, cloud-enabled control platforms, energy-management integrations, and advanced analytics to enhance device functionality and customer engagement. Rising adoption of smart homes, regulatory mandates for building efficiency, and consumer interest in sustainability and energy savings are accelerating market growth across North America, Europe, Asia-Pacific, and emerging economies. These trends enable organizations to develop targeted marketing campaigns, new service offerings, and energy-management solutions that capture value across multiple end-user segments.

Competitive Strategy: The report profiles leading players in the smart thermostat ecosystem, including device manufacturers, HVAC solution providers, software developers, and utility program partners. The competitive landscape emphasizes product differentiation, technology integration, partnerships with utilities and smart home platforms, and expansion into high-growth regions. This analysis enables stakeholders to identify emerging market segments, refine competitive positioning, and pursue growth through innovation, geographic expansion, regulatory alignment, and customer-focused solutions. As energy efficiency, connected devices, and intelligent HVAC systems become increasingly critical for homes and businesses, competition is intensifying around AI capabilities, interoperability, integration with building management systems, and the ability to deliver measurable energy savings and comfort benefits at scale.

Research Methodology

Factors for Data Prediction and Modelling

• The base currency considered for the smart thermostat market analysis is the US$. Currencies other than the US$ have been converted to the US$ for all statistical calculations, considering the average conversion rate for that particular year.
• The currency conversion rate has been taken from the historical exchange rate on the Oanda website.
• Nearly all the recent developments from January 2022 to October 2025 have been considered in this research study.
• The information rendered in the report is a result of in-depth primary interviews, surveys, and secondary analysis.
• Where relevant information was not available, proxy indicators and extrapolation were employed.
• Any economic downturn in the future has not been taken into consideration for the market estimation and forecast.
• Technologies currently used are expected to persist through the forecast with no major technological breakthroughs.

Market Estimation and Forecast

This study leverages extensive secondary sources, including government energy and building efficiency publications, utility filings, smart-home integration reports, case studies, white papers, company annual reports, and major industry databases, to gather technical, market-oriented, and commercial insights on the global smart thermostat market.

The market estimation process follows a structured approach, comprising statistical modelling, market size calculation, segmentation-level forecasting, and rigorous cross-verification through data triangulation. Primary research has been conducted to validate trends, confirm market sizing, and ensure the accuracy of forecasts across product types, applications, and geographic regions.

By combining secondary and primary data with quantitative modelling and triangulation, this methodology delivers reliable market projections, detailed segmentation analysis, and actionable insights for stakeholders seeking to understand the current landscape and growth potential of the smart thermostat market.

Primary Research

Primary research has been conducted to complement secondary research and validate key market findings for the global smart thermostat market. The study engaged with a wide range of industry stakeholders, including executives, smart thermostat manufacturers, product managers, utility program managers, building automation experts, and regulatory specialists. Interviews have been conducted with CEOs, VPs, engineering directors, product strategists, and technology leaders to obtain both qualitative insights and quantitative validation.

Key data points obtained from primary research include:

• validation and triangulation of market numbers, forecasts, and graphical data
• verification of report segmentations and qualitative findings
• insights into the competitive landscape, including market strategies and adoption trends
• confirmation of market size and revenue estimates across product types, applications, and regions
• percentage splits of individual markets for detailed geographical analysis

This primary research approach ensures that the market projections, adoption trends, and competitive intelligence presented in the report are accurate, credible, and actionable for stakeholders and decision-makers.

Secondary Research

This study relies extensively on secondary research to collect accurate and relevant information for a comprehensive, technical, market-oriented, and commercial analysis of the global smart thermostat market. Key sources include industry publications, company websites, annual reports, white papers, and business directories. The research also leverages major databases such as Hoovers, Bloomberg, Businessweek, and Factiva to gather verified data. Additional authoritative sources, including government and industry websites like the U.S. Census Bureau, International Energy Agency (IEA), and regional HVAC associations, were also utilized.

Secondary research has been instrumental in obtaining critical information about the market's value chain, revenue models, competitive landscape, total pool of key players, and current and potential applications. The research helped identify market trends, adoption patterns, and innovation opportunities.

Key data points extracted from secondary research include:

• market segmentations and percentage shares
• market value data and historical trends
• key strategies and industry trends of leading smart thermostat players
• qualitative insights on emerging innovations and market dynamics
• quantitative data to support mathematical and statistical modeling

By triangulating these secondary sources, the study ensures robust market estimates, credible insights, and actionable intelligence for stakeholders and decision-makers.

Data Triangulation

This research study employs extensive secondary sources, including certified publications, peer-reviewed articles, white papers, company annual reports, industry directories, and major market databases, to gather accurate and actionable information for a comprehensive, technical, and commercially relevant analysis of the smart thermostat market.

The market assessment involves a structured approach to market engineering, including the calculation of market statistics, estimation of market size, forecasting, segment analysis, and data triangulation. Data triangulation has been used to validate quantitative findings by cross-referencing multiple sources and research methodologies, ensuring accuracy and reliability.

In addition, primary research has been conducted to corroborate market estimates, validate segmentation, and identify trends among key players in the smart thermostat market. Interviews with industry experts, product managers, and technology providers provide critical insights, complementing secondary data to enhance the robustness of the study. This approach ensures that the market projections, adoption trends, and competitive landscape presented in the report are both credible and actionable for decision-makers.

Key Market Players and Competition Synopsis

The companies that are profiled in the smart thermostat market have been selected based on inputs gathered from primary experts, who have analyzed company coverage, product portfolio, and market penetration.

Some of the prominent names in the smart thermostat market are:

• Alphabet (Google Nest)
• Honeywell Home (Resideo)
• Ecobee, Inc.
• Emerson Electric (Sensi)
• Centrica Hive
• Johnson Controls (incl. Lux)
• Schneider Electric SE
• Carrier Corporation
• Trane Technologies
• Lennox International Inc.
• Tado GmbH
• Siemens AG
• Bosch Thermotechnology
• Legrand Group (Netatmo)
• Daikin Industries

Companies that are not a part of the aforementioned pool have been well represented across different sections of the smart thermostat report (wherever applicable).

Table of Contents

Executive Summary

Scope and Definition

1 Market: Industry Outlook

• 1.1 Trends: Current and Future Impact Assessment
  • 1.1.1 Shift toward Connected and Learning Thermostats
  • 1.1.2 Increased Adoption in Commercial and Industrial Sectors
  • 1.1.3 Integration with Utility Demand Response Programs
• 1.2 Supply Chain
  • 1.2.1 Stakeholder Ecosystem Snapshot
    • 1.2.1.1 Explanation of Stakeholder Roles
  • 1.2.2 Raw Material and Component Sourcing
  • 1.2.3 Manufacturing and Assembly
  • 1.2.4 Distribution and Logistics
  • 1.2.5 Retail and eCommerce
  • 1.2.6 Customer Installation and After-Sales Support
  • 1.2.7 Challenges and Opportunities in the Supply Chain
• 1.3 Market Dynamics Overview
  • 1.3.1 Market Drivers
    • 1.3.1.1 Rising Focus on Energy Efficiency and Sustainability
    • 1.3.1.2 Increased Government Support and Incentives for Smart Technologies
    • 1.3.1.3 Increasing Adoption of Smart Homes
    • 1.3.1.4 Escalated Demand for IoT-Enabled HVAC Systems
  • 1.3.2 Market Challenges
    • 1.3.2.1 High Initial Costs and Installation Complexity
    • 1.3.2.2 Data Privacy and Cybersecurity Concerns
    • 1.3.2.3 Limited Interoperability and Standardization Challenges
  • 1.3.3 Market Opportunities
    • 1.3.3.1 Retrofit and Commercial/Industrial Deployment
    • 1.3.3.2 Expansion into Emerging Markets
• 1.4 Regulatory Landscape
• 1.5 Use Case

2 Application

• 2.1 Application Summary
• 2.2 Global Smart Thermostat Market (by Application)
  • 2.2.1 Residential
  • 2.2.2 Commercial
  • 2.2.3 Industrial

3 Products

• 3.1 Product Summary
• 3.2 Global Smart Thermostat Market (by Product Type)
  • 3.2.1 Standalone
  • 3.2.2 Connected
  • 3.2.3 Learning
• 3.3 Smart Thermostat Market (by Technology/Connectivity)
  • 3.3.1 Wired Networking
  • 3.3.2 Wireless Networking

4 Region

• 4.1 Smart Thermostat Market (by Region)
• 4.2 North America
  • 4.2.1 Regional Overview
    • 4.2.1.1 Driving Factors for Market Growth
    • 4.2.1.2 Factors Challenging the Market
    • 4.2.1.3 Analyst view
  • 4.2.2 Market (by Application)
  • 4.2.3 Market (by Product)
  • 4.2.4 North America (by Country)
    • 4.2.4.1 U.S.
      • 4.2.4.1.1 Market (by Application)
      • 4.2.4.1.2 Market (by Product)
    • 4.2.4.2 Canada
      • 4.2.4.2.1 Market (by Application)
      • 4.2.4.2.2 Market (by Product)
    • 4.2.4.3 Mexico
      • 4.2.4.3.1 Market (by Application)
      • 4.2.4.3.2 Market (by Product)
• 4.3 Europe
  • 4.3.1 Regional Overview
    • 4.3.1.1 Driving Factors for Market Growth
    • 4.3.1.2 Factors Challenging the Market
    • 4.3.1.3 Analyst View
  • 4.3.2 Market (by Application)
  • 4.3.3 Market (by Product)
  • 4.3.4 Europe (by Country)
    • 4.3.4.1 Germany
      • 4.3.4.1.1 Market (by Application)
      • 4.3.4.1.2 Market (by Product)
    • 4.3.4.2 France
      • 4.3.4.2.1 Market (by Application)
      • 4.3.4.2.2 Market (by Product)
    • 4.3.4.3 U.K.
      • 4.3.4.3.1 Market (by Application)
      • 4.3.4.3.2 Market (by Product)
    • 4.3.4.4 Italy
      • 4.3.4.4.1 Market (by Application)
      • 4.3.4.4.2 Market (by Product)
    • 4.3.4.5 Spain
      • 4.3.4.5.1 Market (by Application)
      • 4.3.4.5.2 Market (by Product)
    • 4.3.4.6 Rest-of-Europe
      • 4.3.4.6.1 Market (by Application)
      • 4.3.4.6.2 Market (by Product)
• 4.4 Asia-Pacific
  • 4.4.1 Regional Overview
    • 4.4.1.1 Driving Factors for Market Growth
    • 4.4.1.2 Factors Challenging the Market
    • 4.4.1.3 Analyst view
  • 4.4.2 Market (by Application)
  • 4.4.3 Market (by Product)
  • 4.4.4 Asia-Pacific (by Country)
    • 4.4.4.1 China
      • 4.4.4.1.1 Market (by Application)
      • 4.4.4.1.2 Market (by Product)
    • 4.4.4.2 Japan
      • 4.4.4.2.1 Market (by Application)
      • 4.4.4.2.2 Market (by Product)
    • 4.4.4.3 India
      • 4.4.4.3.1 Market (by Application)
      • 4.4.4.3.2 Market (by Product)
    • 4.4.4.4 South Korea
      • 4.4.4.4.1 Market (by Application)
      • 4.4.4.4.2 Market (by Product)
    • 4.4.4.5 Australia
      • 4.4.4.5.1 Market (by Application)
      • 4.4.4.5.2 Market (by Product)
    • 4.4.4.6 Rest-of-Asia-Pacific
      • 4.4.4.6.1 Market (by Application)
      • 4.4.4.6.2 Market (by Product)
• 4.5 Rest-of-the-World
  • 4.5.1 Regional Overview
    • 4.5.1.1 Driving Factors for Market Growth
    • 4.5.1.2 Factors Challenging the Market
    • 4.5.1.3 Analyst view
  • 4.5.2 Market (by Application)
  • 4.5.3 Market (by Product)
  • 4.5.4 Rest-of-the-World (by Region)
    • 4.5.4.1 South America
      • 4.5.4.1.1 Market (by Application)
      • 4.5.4.1.2 Market (by Product)
    • 4.5.4.2 Middle East and Africa
      • 4.5.4.2.1 Market (by Application)
      • 4.5.4.2.2 Market (by Product)

5 Markets - Competitive Benchmarking & Company Profiles

• 5.1 Next Frontiers
• 5.2 Geographic Assessment
• 5.3 Company Profiles
  • 5.3.1 Alphabet (Google Nest)
    • 5.3.1.1 Overview
    • 5.3.1.2 Top Products/Product Portfolio
    • 5.3.1.3 Top Competitors
    • 5.3.1.4 Target Customers
    • 5.3.1.5 Key Personnel
    • 5.3.1.6 Analyst View
    • 5.3.1.7 Market Share, 2024
  • 5.3.2 Resideo Technologies, Inc
    • 5.3.2.1 Overview
    • 5.3.2.2 Top Products/Product Portfolio
    • 5.3.2.3 Top Competitors
    • 5.3.2.4 Target Customers
    • 5.3.2.5 Key Personnel
    • 5.3.2.6 Analyst View
    • 5.3.2.7 Market Share, 2024
  • 5.3.3 Ecobee, Inc
    • 5.3.3.1 Overview
    • 5.3.3.2 Top Products/Product Portfolio
    • 5.3.3.3 Top Competitors
    • 5.3.3.4 Target Customers
    • 5.3.3.5 Key Personnel
    • 5.3.3.6 Analyst View
    • 5.3.3.7 Market Share, 2024
  • 5.3.4 Emerson Electric Co.
    • 5.3.4.1 Overview
    • 5.3.4.2 Top Products/Product Portfolio
    • 5.3.4.3 Top Competitors
    • 5.3.4.4 Target Customers
    • 5.3.4.5 Key Personnel
    • 5.3.4.6 Analyst View
    • 5.3.4.7 Market Share, 2024
  • 5.3.5 Centrica Hive
    • 5.3.5.1 Overview
    • 5.3.5.2 Top Products/Product Portfolio
    • 5.3.5.3 Top Competitors
    • 5.3.5.4 Target Customers
    • 5.3.5.5 Key Personnel
    • 5.3.5.6 Analyst View
    • 5.3.5.7 Market Share, 2024
  • 5.3.6 Johnson Controls
    • 5.3.6.1 Overview
    • 5.3.6.2 Top Products/Product Portfolio
    • 5.3.6.3 Top Competitors
    • 5.3.6.4 Target Customers
    • 5.3.6.5 Key Personnel
    • 5.3.6.6 Analyst View
    • 5.3.6.7 Market Share, 2024
  • 5.3.7 Schneider Electric SE
    • 5.3.7.1 Overview
    • 5.3.7.2 Top Products/Product Portfolio
    • 5.3.7.3 Top Competitors
    • 5.3.7.4 Target Customers
    • 5.3.7.5 Key Personnel
    • 5.3.7.6 Analyst View
    • 5.3.7.7 Market Share, 2024
  • 5.3.8 Carrier Corporation
    • 5.3.8.1 Overview
    • 5.3.8.2 Top Products/Product Portfolio
    • 5.3.8.3 Top Competitors
    • 5.3.8.4 Target Customers
    • 5.3.8.5 Key Personnel
    • 5.3.8.6 Analyst View
    • 5.3.8.7 Market Share, 2024
  • 5.3.9 Trane Technologies
    • 5.3.9.1 Overview
    • 5.3.9.2 Top Products/Product Portfolio
    • 5.3.9.3 Top Competitors
    • 5.3.9.4 Target Customers
    • 5.3.9.5 Key Personnel
    • 5.3.9.6 Analyst View
    • 5.3.9.7 Market Share, 2024
  • 5.3.10 Lennox International Inc.
    • 5.3.10.1 Overview
    • 5.3.10.2 Top Products/Product Portfolio
    • 5.3.10.3 Top Competitors
    • 5.3.10.4 Target Customers
    • 5.3.10.5 Key Personnel
    • 5.3.10.6 Analyst View
    • 5.3.10.7 Market Share, 2024
  • 5.3.11 Tado GmbH
    • 5.3.11.1 Overview
    • 5.3.11.2 Top Products/Product Portfolio
    • 5.3.11.3 Top Competitors
    • 5.3.11.4 Target Customers
    • 5.3.11.5 Key Personnel
    • 5.3.11.6 Analyst View
    • 5.3.11.7 Market Share, 2024
  • 5.3.12 Siemens AG
    • 5.3.12.1 Overview
    • 5.3.12.2 Top Products/Product Portfolio
    • 5.3.12.3 Top Competitors
    • 5.3.12.4 Target Customers
    • 5.3.12.5 Key Personnel
    • 5.3.12.6 Analyst View
    • 5.3.12.7 Market Share, 2024
  • 5.3.13 Bosch Thermotechnology
    • 5.3.13.1 Overview
    • 5.3.13.2 Top Products/Product Portfolio
    • 5.3.13.3 Top Competitors
    • 5.3.13.4 Target Customers
    • 5.3.13.5 Key Personnel
    • 5.3.13.6 Analyst View
    • 5.3.13.7 Market Share, 2024
  • 5.3.14 Legrand Group
    • 5.3.14.1 Overview
    • 5.3.14.2 Top Products/Product Portfolio
    • 5.3.14.3 Top Competitors
    • 5.3.14.4 Target Customers
    • 5.3.14.5 Key Personnel
    • 5.3.14.6 Analyst View
    • 5.3.14.7 Market Share, 2024
  • 5.3.15 Daikin Industries
    • 5.3.15.1 Overview
    • 5.3.15.2 Top Products/Product Portfolio
    • 5.3.15.3 Top Competitors
    • 5.3.15.4 Target Customers
    • 5.3.15.5 Key Personnel
    • 5.3.15.6 Analyst View

6 Research Methodology

• 6.1 Data Sources
  • 6.1.1 Primary Data Sources
  • 6.1.2 Secondary Data Sources
  • 6.1.3 Data Triangulation
• 6.2 Market Estimation and Forecast