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Report
United States Smart Thermostat Market Report and Forecast 2024-2032
Market Report I 2024-01-30 I 140 Pages I EMR Inc.
United States Smart Thermostat Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the United States smart thermostat market is projected to grow at a CAGR of 16.9% between 2024 and 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 EMR 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 by Expert Market Research 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
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual 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 (2018-2023)
8.3 United States Smart Thermostat Market Forecast (2024-2032)
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 (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Standalone
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Learning
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
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 (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Wireless
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
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 (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Residential
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Industrial
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
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 (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Mideast
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Great Lakes
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Plains
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.5 Southeast
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.6 Southwest
9.6.1 Historical Trend (2018-2023)
9.6.2 Forecast Trend (2024-2032)
9.7 Rocky Mountain
9.7.1 Historical Trend (2018-2023)
9.7.2 Forecast Trend (2024-2032)
9.8 Far West
9.8.1 Historical Trend (2018-2023)
9.8.2 Forecast Trend (2024-2032)
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 2032
2. United States Smart Thermostat Historical Market: Breakup by Product (USD Million), 2018-2023
3. United States Smart Thermostat Market Forecast: Breakup by Product (USD Million), 2024-2032
4. United States Smart Thermostat Historical Market: Breakup by Technology (USD Million), 2018-2023
5. United States Smart Thermostat Market Forecast: Breakup by Technology (USD Million), 2024-2032
6. United States Smart Thermostat Historical Market: Breakup by Application (USD Million), 2018-2023
7. United States Smart Thermostat Market Forecast: Breakup by Application (USD Million), 2024-2032
8. United States Smart Thermostat Historical Market: Breakup by Region (USD Million), 2018-2023
9. United States Smart Thermostat Market Forecast: Breakup by Region (USD Million), 2024-2032
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
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