Thermostat Market Size
Market Size in USD Bn
CAGR13.1%
| Study Period | 2025-2032 |
| Base Year of Estimation | 2024 |
| CAGR | 13.1% |
| Market Concentration | High |
| Major Players | Honeywell International, Inc., Google Nest, Ecobee, Emerson Electric Co., Johnson Controls and Among Others |
*Disclaimer: Major players are listed in no particular order.
*Source: Coherent Market Insights
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Thermostat Market Analysis
The thermostat market is estimated to be valued at USD 7.32 Bn in 2025 and is expected to reach USD 17.33 Bn by 2032. It is expected to grow at a compound annual growth rate (CAGR) of 13.1% from 2025 to 2032. The thermostat market has been driven by increasing demand for smart and energy efficient thermostats across both residential as well as commercial sectors.