Smart Thermostats - Eastern Asia
Eastern Asia- Revenue in the Smart Thermostats market is projected to reach US$1.0bn in 2024.
- Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.23%, resulting in a projected market volume of US$1.7bn by 2029.
- In the Smart Thermostats market, the number of active households is expected to amount to 81.3m users by 2029.
- Household penetration will be 11.9% in 2024 and is expected to hit 14.0% by 2029.
- The average revenue per installed Smart Home currently is expected to amount to US$14.79.
Definition:
Smart Thermostats market covers Wi-Fi-enabled devices that integrate with central HVAC (Heating, Ventilation, and Air Conditioning) systems to provide automated and remote temperature control. These thermostats learn users' temperature preferences and automatically adjust settings to optimize energy usage—lowering temperatures when the home is unoccupied and restoring comfort levels when the user is returning. Features such as geofencing and occupancy sensors enhance automation and efficiency.These devices are compatible with major smart home platforms, including Google Assistant, Amazon Alexa, and Apple HomeKit. Networked light bulbs (see Comfort & Lighting) and smart plugs (see Control & Connectivity) are excluded from this segment.
Additional Information:
The market includes revenue, average revenue per smart home, number of smart homes, and household penetration rates. Sales are generated through both online and offline channels, focusing on consumer (B2C) spending. Key market players include Nest (Google), Ecobee, Schneider, and Tado, known for their innovative solutions and extensive market presence. For more information on the data displayed, use the info button next to the boxes.
In-Scope
- Residential Smart Thermostats (e.g., Nest Learning Thermostat, Ecobee SmartThermostat)
- Commercial Smart Thermostats (e.g., Honeywell T6 Pro, Trane ComfortLink)
- Voice-controlled Smart Thermostats (e.g., Google Nest, Amazon Alexa-enabled devices)
- Smart Thermostats with learning capabilities (e.g., Tado Smart AC Control)
Out-Of-Scope
- Separately sold sensors (e.g., temperature or humidity sensors without smart thermostat integration)
- Programmable Thermostats without connectivity features (e.g., Honeywell RTH9585WF)
- Industrial HVAC systems
- Basic non-smart thermostats (e.g., mechanical or manual thermostats)
