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United States Smart Thermostat Market Share, Size, Trends, Growth, Analysis, Forecast: By Product: Connected, Standalone, Learning; By Technology: Wired, Wireless; By Application: Commercial, Residential, Industrial; Regional Analysis; Market Dynamics; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028

United States Smart Thermostat Market Outlook

The United States smart thermostat market would likely grow at a CAGR of 16.9% during 2023-2028. Smart thermostats manage a home's cooling and heating; generally, smart thermostats are app-enabled devices and offer several different features.

 

Being smart devices, several thermostats may be regulated through voice command. Some smart thermostats employ occupancy sensors to ascertain if the resident is home or outside to automatically change temperature. Many thermostats automatically shift between away and home modes on the basis of the phone's location of the resident. Certain devices use remote temperature and proximity sensors to increase the detection range of the thermostat to other areas of the house. 

 

Market Likely to be Driven by Advanced Features Offered by Smart Thermostats

Most smart thermostats are connected through Wi-Fi to an app on the consumer’s phone. The app is used to schedule and regulate heating or cooling, and modify the temperature of the house; it may also set up automations with other smart devices. There also are programmable thermostats that are not connected with an app, but are capable of scheduling cooling and heating routines via a touchscreen display.

 

Smart thermostat makes life easier as it may be scheduled to heat early in the morning to avoid the chill in the air, or initiate air conditioning some time before entering the house to find it cool. Smart thermostats with apps don’t require a person to get up to make changes to the temperature. This feature is particularly useful for individuals with mobility challenges. 

 

Modern Thermostats Display Useful Features

Smart thermostats may act as safety devices when linked to a fire-listening device or smart smoke alarms. In the event of a fire, the thermostat automatically switches off the HVAC to prevent the spread of fire due to blowing air. 

 

Modern smart thermostats display some useful features. For example, smart thermostats exhibit learning. Learning thermostats memorizes schedules to automatically change the temperature to suit consumers’ needs. Learning routines may also help save money on cooling and heating as the HVAC system, heat pump, or furnace will not run when not needed.

 

Such features are expected to boost the United States smart thermostat market.

 

Many smart thermostats allow adjustment of temperature via voice command to Amazon Alexa, Google Assistant, and Apple’s Siri. So even if the phone is not close enough, temperature may be adjusted through a simple voice command.   

 

Smart Thermostats May Help Save Electricity and Money

Several smart thermostats enable energy use tracking. Some offer energy-saving presets that help regulate smart cooling and heating in a cost-efficient manner, thereby contributing to smaller electricity bills. In a smart home setup, the smart thermostat may be added to automations with other smart devices. An automation may be created to lower the thermostat, turn off smart lights, and arm the smart home security system. Such features are expected to boost the United States smart thermostat market

 

Popular smart thermostats include Ecobee Smart Thermostat Premium, Nest Learning Thermostat v.3, Amazon Smart Thermostat, Honeywell RTH8580WF Wi-Fi Thermostat, Nest Thermostat, Ecobee3 Lite, Sensibo Sky, Nest Thermostat E, Honeywell Home T9 Smart Thermostat, and others. 

 

Market Segmentation

By product, the market is segmented into:

  • Connected
  • Standalone
  • Learning

 

By technology, the United States smart thermostat market is divided into:

  • Wired
  • Wireless (further broken down by type as given below)
    • Wi-Fi
    • Bluetooth
    • Zigbee
    • Others

 

By application, the market is classified into:

  • Commercial
  • Residential
  • Industrial

 

By region, the market is segmented into:

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

 

Key Industry Players in the Market

The report offers an extensive assessment of major players in the United States smart thermostat market; it evaluates their capability, observes latest occurrences such as mergers and acquisitions, capacity expansions, and plant turnarounds:

 

  • 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

 

Using SWOT analysis and Porter’s Five Forces model, the EMR report offers deep insights into the industry.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Technology
  • Application
  • Region
Breakup by Product
  • Connected
  • Standalone
  • Learning
Breakup by Technology
  • Wired
  • Wireless
Breakup by Application
  • Commercial
  • Residential
  • Industrial
Breakup by Region
  • New England
  • Mideast
  • Great Lakes
  • Plains
  • Southeast
  • Southwest
  • Rocky Mountain
  • Far West
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
7    Industry Opportunities and Challenges
8    United States Smart Thermostat Market Analysis

    8.1    Key Industry Highlights
    8.2    United States Smart Thermostat Historical Market (2018-2022) 
    8.3    United States Smart Thermostat Market Forecast (2023-2028)
    8.4    United States Smart Thermostat Market by Product
        8.4.1    Connected
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Standalone
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Learning
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
    8.5    United States Smart Thermostat Market by Technology
        8.5.1    Wired
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Wireless
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
            8.5.2.4    Breakup by Type
                8.5.2.4.1    Wi-Fi
                8.5.2.4.2    Bluetooth
                8.5.2.4.3    Zigbee
                8.5.2.4.4    Others
    8.6    United States Smart Thermostat Market by Application
        8.6.1    Commercial
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Residential
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Industrial
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
    8.7    United States Smart Thermostat Market by Region
        8.7.1    Market Share
            8.7.1.1    New England
            8.7.1.2    Mideast
            8.7.1.3    Great Lakes
            8.7.1.4    Plains
            8.7.1.5    Southeast
            8.7.1.6    Southwest
            8.7.1.7    Rocky Mountain
            8.7.1.8    Far West
9    Regional Analysis
    9.1    New England
        9.1.1    Historical Trend (2018-2022)
        9.1.2    Forecast Trend (2023-2028)
    9.2    Mideast
        9.2.1    Historical Trend (2018-2022)
        9.2.2    Forecast Trend (2023-2028)
    9.3    Great Lakes
        9.3.1    Historical Trend (2018-2022)
        9.3.2    Forecast Trend (2023-2028)
    9.4    Plains
        9.4.1    Historical Trend (2018-2022)
        9.4.2    Forecast Trend (2023-2028)
    9.5    Southeast
        9.5.1    Historical Trend (2018-2022)
        9.5.2    Forecast Trend (2023-2028)
    9.6    Southwest
        9.6.1    Historical Trend (2018-2022)
        9.6.2    Forecast Trend (2023-2028)
    9.7    Rocky Mountain
        9.7.1    Historical Trend (2018-2022)
        9.7.2    Forecast Trend (2023-2028)
    9.8    Far West
        9.8.1    Historical Trend (2018-2022)
        9.8.2    Forecast Trend (2023-2028)
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Trade Data Analysis (HS Code - 903210)
    11.1    Major Exporting Countries 
        11.1.1    By Value
        11.1.2    By Volume
    11.2    Major Importing Countries 
        11.2.1    By Value
        11.2.2    By Volume
12    Price Analysis
13    Competitive Landscape

    13.1    Market Structure
    13.2    Company Profiles
        13.2.1    Honeywell International Inc
            13.2.1.1    Company Overview
            13.2.1.2    Product Portfolio
            13.2.1.3    Demographic Reach and Achievements
            13.2.1.4    Certifications
        13.2.2    Johnson Controls
            13.2.2.1    Company Overview
            13.2.2.2    Product Portfolio
            13.2.2.3    Demographic Reach and Achievements
            13.2.2.4    Certifications
        13.2.3    Emerson Electric Co.
            13.2.3.1    Company Overview
            13.2.3.2    Product Portfolio
            13.2.3.3    Demographic Reach and Achievements
            13.2.3.4    Certifications
        13.2.4    Carrier Corporation
            13.2.4.1    Company Overview
            13.2.4.2    Product Portfolio
            13.2.4.3    Demographic Reach and Achievements
            13.2.4.4    Certifications
        13.2.5    Bosch Thermotechnology Corp.
            13.2.5.1    Company Overview
            13.2.5.2    Product Portfolio
            13.2.5.3    Demographic Reach and Achievements
            13.2.5.4    Certifications
        13.2.6    Lux Products Corporation
            13.2.6.1    Company Overview
            13.2.6.2    Product Portfolio
            13.2.6.3    Demographic Reach and Achievements
            13.2.6.4    Certifications
        13.2.7    ecobee Inc.
            13.2.7.1    Company Overview
            13.2.7.2    Product Portfolio
            13.2.7.3    Demographic Reach and Achievements
            13.2.7.4    Certifications
        13.2.8    Vivint, Inc
            13.2.8.1    Company Overview
            13.2.8.2    Product Portfolio
            13.2.8.3    Demographic Reach and Achievements
            13.2.8.4    Certifications
        13.2.9    Radio Thermostat Company of America
            13.2.9.1    Company Overview
            13.2.9.2    Product Portfolio
            13.2.9.3    Demographic Reach and Achievements
            13.2.9.4    Certifications
        13.2.10    Lennox International Inc.
            13.2.10.1    Company Overview
            13.2.10.2    Product Portfolio
            13.2.10.3    Demographic Reach and Achievements
            13.2.10.4    Certifications
        13.2.11    Others
14    Key Trends and Developments in the Market

 

List of Figures and Tables

1.    United States Smart Thermostat Market: Key Industry Highlights, 2018 and 2028
2.    United States Smart Thermostat Historical Market: Breakup by Product (USD Million), 2018-2022
3.    United States Smart Thermostat Market Forecast: Breakup by Product (USD Million), 2023-2028
4.    United States Smart Thermostat Historical Market: Breakup by Technology (USD Million), 2018-2022
5.    United States Smart Thermostat Market Forecast: Breakup by Technology (USD Million), 2023-2028
6.    United States Smart Thermostat Historical Market: Breakup by Application (USD Million), 2018-2022
7.    United States Smart Thermostat Market Forecast: Breakup by Application (USD Million), 2023-2028
8.    United States Smart Thermostat Historical Market: Breakup by Region (USD Million), 2018-2022
9.    United States Smart Thermostat Market Forecast: Breakup by Region (USD Million), 2023-2028
10.    Major Exporting Countries by Value
11.    Major Importing Countries by Value
12.    Major Exporting Countries by Volume
13.    Major Importing Countries by Volume
14.    United States Smart Thermostat Market Structure

Key Questions Answered in the Report

The market is projected to grow at a CAGR of 16.9% between 2023 and 2028.

The major drivers of the market are rising energy costs, increasing consumer awareness, and improving standards of living.

The key trends guiding the growth of the market include remote controlled smart thermostats via smartphones and other devices, inclusion of further smart features, and research and development activities to develop advanced products.

The major regions in the United States smart thermostat market are New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.

Connected, standalone, and learning are the various products of smart thermostats in the market.

Technologies used for smart thermostat are wired and wireless, with wireless further subdivided into Wi-Fi, Bluetooth, and Zigbee, among others.

The different applications of smart thermostats in the market are commercial, residential, and industrial.

Smart thermostats are intelligent and improved versions of traditional thermostats that can regulate the cooling and heating of a home of building based on various parameters such as remote instructions, occupancy, or weather, among others.

Smart thermostats support greater ease and accuracy in temperature management as compared to traditional thermostats, helping reduce cooling and heating expenses while maintaining comfortable temperatures.

The major players in the 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.

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