Southeast Asia Smart Thermostat Market Expected to Reach USD 752 Million by 2030, Growing at a CAGR of 16.54%
This comprehensive Southeast Asia Smart Thermostat Market report by “MarkNtel Advisors: Leading Market research Company” offers valuable insights into the current and future market landscape, providing clarity on potential challenges and strategies for optimal brand positioning. It features detailed market segmentation, in-depth analysis of key market players, emerging trends in consumer behavior and supply chain dynamics, and opportunities in new geographical markets. With the insights from this report, you can manage your marketing strategies for goods and services more effectively.
According to recent market analysis report, the Southeast Asia Smart Thermostat Market size is valued at USD 275 million in 2023 & is estimated to reach USD 752 million by 2030. Along with this, the market is estimated to grow at a CAGR of around 16.54% during the forecast period, i.e., 2024-30.
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Driving Force Behind the Growth of the Southeast Asia Smart Thermostat Market through 2030
Rising Rate of Smart Home Automation – In recent years, the inhabitants in the region have been inclined towards home automation systems, including smart thermostats, next-generation lighting, etc., since they help in providing remote monitoring, improving security, and enlightening home aesthetics. Based on the survey conducted by the company, almost 77% of consumers across the region have embraced smart home devices to improve their living standards.
Additionally, the number of working professionals in Southeast Asian countries is also increasing. As per the Ministry of Manpower, in 2022, the employment rate in Singapore reached approximately 67.5%, an increase of about 2% to 3% compared to the pre-pandemic period. These working professionals stay approximately 8-10 hours in the office or outdoor location. Therefore, they require solutions, that help them to monitor and operate the home appliances even via their smartphones. Thus, the working population in Southeast Asia is increasingly installing these systems in their residential apartments, enlarging the Southeast Asia Smart Thermostat Market size.
Market Segment Highlights:
By Product Type
- Motion Sensor Thermostat- Market Size & Forecast 2019-2030, USD Million
- Geofencing Thermostat- Market Size & Forecast 2019-2030, USD Million
- Learning Algorithm Thermostat- Market Size & Forecast 2019-2030, USD Million
By Technology
- Wireless- Market Size & Forecast 2019-2030, USD Million
- Bluetooth- Market Size & Forecast 2019-2030, USD Million
- Wi-Fi – Market Size & Forecast 2019-2030, USD Million
- ZigBee – Market Size & Forecast 2019-2030, USD Million
- Z-Wave- Market Size & Forecast 2019-2030, USD Million
- Wired- Market Size & Forecast 2019-2030, USD Million
By Component
- Sensor- Market Size & Forecast 2019-2030, USD Million
- Temperature Sensor- Market Size & Forecast 2019-2030, USD Million
- Motion Sensors- Market Size & Forecast 2019-2030, USD Million
- Humidity Sensors- Market Size & Forecast 2019-2030, USD Million
- Display- Market Size & Forecast 2019-2030, USD Million
- Others- Market Size & Forecast 2019-2030, USD Million
By End Users
- Residential – Market Size & Forecast 2019-2030, USD Million
- Industrial- Market Size & Forecast 2019-2030, USD Million
- Commercial- Market Size & Forecast 2019-2030, USD Million
- Hospitality- Market Size & Forecast 2019-2030, USD Million
- Education- Market Size & Forecast 2019-2030, USD Million
- Government – Market Size & Forecast 2019-2030, USD Million
- Healthcare- Market Size & Forecast 2019-2030, USD Million
- Others- Market Size & Forecast 2019-2030, USD Million
Hospitality holds a notable market share in the Southeast Asia Smart Thermostat Market. Hotels & Cafes essentially require the HVACs within the premises to provide comfort to the travelers. However, travelers often tend to turn off the appliances of their designated rooms when they go out during the day, leading to higher power consumption. Therefore, to conserve power resources, the hospitality sector is actively installing these smart thermostats, enhancing market growth.
By Demand Type
- New Installation- Market Size & Forecast 2019-2030, USD Million
- Retrofitting- Market Size & Forecast 2019-2030, USD Million
By Country
- Indonesia
- Vietnam
- Malaysia
- Singapore
- Thailand
- The Philippines
- Rest of Southeast Asia
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Southeast Asia Smart Thermostat Market Competition Analysis:
Some of the top Southeast Asia Smart Thermostat companies operating in the market are Honeywell International Inc., Nest Labs, Inc., Johnson Controls International plc, Schneider Electric SE, Emerson Electric Co., Siemens AG, Daikin Industries, Ltd., Carrier Global Corporation, Ecobee, Inc., Resideo Technologies, Inc., and Other.
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