Smart Thermostat Market to Reach $3 Billion by 2022, Says Report

The global smart thermostat market is expected to approach $3 billion by 2022, said a Grand View Research report Friday. Utility companies play a prominent role in smart thermostat adoption, offering them as part of a home energy management package, said the researcher. North America and Europe generated about 90 percent of smart thermostat revenue last year due to demand for smart home products and favorable government mandates, it said.