United States Smart Thermostat Market to Grow at a CAGR of 16.9% During 2024-2032, Aided by the Growing Use in Smart Homes

The United States smart thermostat market growth can be attributed to increasing development of smart homes and demand for connected devices to enhance the convenience and comfort of occupants. Smart thermostats offer advanced features such as voice command regulation, occupancy sensors, and smartphone integration, making them increasingly popular in the United States. Connected via Wi-Fi to smartphone apps, these thermostats allow users to schedule and control heating or cooling remotely, enhancing convenience and energy efficiency.

They can adjust temperatures based on occupancy or proximity, saving electricity and money by optimizing heating and cooling cycles. Additionally, smart thermostats can serve as safety devices, automatically shutting off HVAC systems in case of fire when linked to fire-listening devices or smoke alarms. Learning capabilities enable thermostats to memorize schedules and adjust temperatures, accordingly, further enhancing comfort and cost savings.

Integration with virtual assistants like Amazon's (NASDAQ: AMZN) Alexa, Google Assistant, and Apple's (NASDAQ: AAPL) Siri allows for easy temperature adjustment via voice command. These features contribute to the growing demand for smart thermostats, with popular models including Ecobee Smart Thermostat Premium, Nest Learning Thermostat, Amazon Smart Thermostat, and Honeywell RTH8580WF Wi-Fi Thermostat. In December 2023, Google’s Nest Renew decided to merge with OhmConnect to create Renew Home, a fresh venture supported by Sidewalk Infrastructure Partners, an Alphabet (NASDAQ: GOOG) backed entity.

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Market Breakup by Product, Technology, Application, and Region:

• The market is segmented based on product into connected, standalone, and learning.

• Based on technology, the market can be divided into wired and wireless.

• Based on application, the market is divided into commercial, residential, and industrial.

• Region-wise, the US smart thermostat market is divided into New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.

Key Findings of the Report:

• Smart thermostats are becoming increasingly popular in the United States due to their convenience and energy efficiency, driven by smartphone integration and Wi-Fi connectivity.

• These thermostats can adjust temperatures based on occupancy or proximity, optimizing heating and cooling cycles to save electricity and money for users.

• They also double as safety devices by automatically shutting off HVAC systems in case of fire when connected to fire-listening devices or smoke alarms.

• Learning capabilities allow smart thermostats to memorize schedules and adjust temperatures, accordingly, enhancing comfort and further reducing costs for users.

Key Offerings of the Report:

• The EMR report gives an overview of the United States smart thermostat market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the product, technology, application, and major regions of smart thermostat.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the United States smart thermostat market are 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, and Lennox International Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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