United States Smart Thermostat Market Report and Forecast 2024-2032

According to the report, the United States smart thermostat market is projected to grow at a CAGR of 16.9% between 2024 and 2032 to reach a value of about USD 1950 million by 2032. Aided by the increasing inclination towards smart homes and energy efficiency measures, the market is expected to grow significantly by 2032.

A smart thermostat is an innovative device that allows homeowners to regulate the temperature of their living spaces remotely via smartphones, tablets, or computers. These devices not only ensure comfort but also lead to significant energy savings, reducing overall utility bills. In addition to the basic functionality, modern smart thermostats are equipped with features such as learning capabilities, voice control, and integration with other smart devices, enhancing the overall user experience.

The surge in the adoption of smart home technology is a primary driver of the United States smart thermostat market growth. As households become more interconnected, the need for devices that offer automation, convenience, and energy savings becomes paramount. Moreover, the growing awareness of energy conservation and the role households play in reducing carbon footprints has magnified the appeal of smart thermostats.

Another significant factor contributing to the United States smart thermostat market demand is the supportive regulatory environment in the U.S. Numerous federal and state incentives, designed to promote energy-efficient practices among consumers, have indirectly boosted the sales of smart thermostats. Programs that offer rebates or tax incentives to households opting for energy-saving appliances are especially influential.

The smart thermostat market also benefits from its compatibility with the broader Internet of Things (IoT) ecosystem. Seamless integration with smart speakers like Amazon's Echo or Google Home, smart lighting systems, and security solutions make smart thermostats an integral component of the modern smart home infrastructure.

However, the United States smart thermostat market outlook is influenced by the factors apart from residential demands. Commercial sectors, especially offices and hospitality spaces, are increasingly incorporating smart thermostats to manage energy consumption better and offer a comfortable environment for occupants and guests. In offices, where heating and cooling costs form a significant portion of the operational costs, smart thermostats can lead to substantial savings.

Market Segmentation

The market can be divided based on product, technology, application, and region.

Market Breakup by Product

• Connected
• Standalone
• Learning

Market Breakup by Technology

• Wired
• Wireless

o Wi-Fi
o Bluetooth
o Zigbee
o Others

Market Breakup by Application

• Commercial
• Residential
• Residential

Market Breakup by Region

• New England
• Mideast
• Great Lakes
• Plains
• Southeast
• Southwest
• Rocky Mountain
• Far West

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United States smart thermostat market. Some of the major players explored in the report are as follows:

• Honeywell International Inc
• Johnson Controls
• Emerson Electric Co.
• Carrier Corporation
• Bosch Thermotechnology Corp.
• Lux Products Corporation
• ecobee Inc.
• Vivint, Inc
• Radio Thermostat Company of America
• Lennox International Inc.
• Others