Smart Thermostat Market Report 2024| Forecast, Industry Trend,share Price,Market Size & Growth
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Report Insights: According to Cognitive Market Research, the global Smart Thermostat market size will be USD 4528.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 18.20% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 1811.40 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1358.55 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 1041.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 226.43 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 90.57 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.9% from 2024 to 2031.
The standalone segment is expected to expand at the quickest CAGR between 2023 and 2032.
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