diff --git a/iiod/CMakeLists.txt b/iiod/CMakeLists.txt
index b1c75e814..e9f1e95d8 100644
--- a/iiod/CMakeLists.txt
+++ b/iiod/CMakeLists.txt
@@ -90,6 +90,11 @@ if(NOT SKIP_INSTALL_ALL)
 endif()
 
 if (WITH_SYSTEMD)
+	if(${WITH_HWMON})
+		set(CMAKE_SERVICE_PATH "ConditionPathExists=|/sys/bus/iio\nConditionPathExists=|/sys/class/hwmon")
+	else()
+		set(CMAKE_SERVICE_PATH "ConditionPathExists=/sys/bus/iio")
+	endif()
 	configure_file(${CMAKE_CURRENT_SOURCE_DIR}/init/iiod.service.cmakein ${PROJECT_BINARY_DIR}/init/iiod.service)
 	install(FILES ${PROJECT_BINARY_DIR}/init/iiod.service DESTINATION ${SYSTEMD_UNIT_INSTALL_DIR})
 endif()
diff --git a/iiod/init/iiod.service.cmakein b/iiod/init/iiod.service.cmakein
index f7c310b5e..b5265ca3e 100644
--- a/iiod/init/iiod.service.cmakein
+++ b/iiod/init/iiod.service.cmakein
@@ -8,7 +8,7 @@
 Description=IIO Daemon
 Requires=systemd-udev-settle.service
 After=network.target systemd-udev-settle.service
-ConditionPathExists=/sys/bus/iio
+@CMAKE_SERVICE_PATH@
 
 [Service]
 Environment=$IIOD_EXTRA_OPTS=''