Core Insights - The demand for energy-saving devices, particularly smart thermostats, is increasing due to rising energy costs and heightened environmental awareness. Smart thermostats can optimize heating and cooling systems, reducing energy consumption by 10%-30% [1][6] - The market size of China's smart thermostat industry is projected to reach 15.8 billion yuan in 2024, representing a year-on-year growth of 23.44% [6] Industry Overview - Smart thermostats are devices that autonomously adjust indoor temperatures using digital microchip technology. They integrate sensors, microprocessors, communication modules, and actuators to monitor and control heating and cooling systems [2] - The industry can be categorized into residential, commercial, and industrial smart thermostats based on application scenarios [3] Industry Supply Chain - The upstream of the smart thermostat industry includes raw materials and components such as metals, plastics, sensors, chips, and communication modules. The midstream involves the manufacturing of smart thermostats, while the downstream applications span residential, commercial, and industrial sectors [4] - The demand for cold chain logistics is expected to reach 365 million tons in China by 2024, growing by 4.29% year-on-year, driven by the need for quality preservation in fresh products and pharmaceuticals [5] Market Size - The global smart thermostat market is expected to reach 6.406 billion USD in 2024, with a year-on-year growth of 28.12%. The integration of AI and IoT technologies is enhancing the functionality and performance of smart thermostats [6] Key Companies - The Chinese smart thermostat market is relatively fragmented, with no dominant players. Notable companies include: - Xiamen Yudian Automation Technology Co., which specializes in industrial-grade thermostats with high precision [7] - Beijing Hailin Control Technology Co., focusing on energy-efficient building management systems [8] Industry Development Trends 1. **Accelerated Technology Integration**: The industry is expected to integrate AI, IoT, 5G, and blockchain technologies, enhancing energy management and enabling real-time monitoring across various applications [9] 2. **Expansion of Application Scenarios**: The demand for smart thermostats is expected to grow in industrial, transportation, and agricultural sectors, driven by the need for precise temperature control in high-end manufacturing and smart agriculture [10] 3. **Ecological Transformation**: The industry is shifting from hardware sales to a model that includes hardware, software, and services, enhancing customer engagement and value [11]