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.
Southeast Asia Smart Thermostat Market Driver:
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.
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Market Dimensions & Projections
· Pricing Evaluation
· Recent Strategic Moves by Companies
· Primary Stakeholders
· Import/Export Trend Analysis
· Competitive Landscape Assessment
· Emerging Opportunities
· Market Trends and Indicators
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Southeast Asia Smart Thermostat Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2030
- 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
- 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
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including - 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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