The North America Smart Thermostat Market would witness market growth of 15.8% CAGR during the forecast period (2022-2028).
A smart thermostat can be utilized to save money as they cool or heat the home only as much as needed. Using features like learning, geofencing, scheduling, diagnosing problems with the system, and reminding the user when it's time for maintenance, they allow the HVAC systems to work more efficiently and consume less energy.
Room sensors can also decrease energy consumption by heating & cooling only the required specific parts of the home. Most homes with modern HVAC systems can upgrade to a smart thermostat if they have a Wi-Fi connection & a C-wire (or a standard wire) in their present thermostat wiring setup. But consumers can also purchase an adapter kit if their device lacks a C-wire.
The government of Canada introduced Canada housing benefits, which will provide a tax-free payment of $500 directly to around 1.8 million low-income renters who are struggling with the cost of housing. The federal benefits will be available to applicants with an adjusted total income below $35,000 for families or below $ 20,000 for single Canadians who are spending at least 30% of their income on rent. The government has also delivered many measures to make housing affordable for Canadians. The government’s initiatives to build & rehabilitate houses and close the supply gap will also propel the requirement for smart housing devices and therefore surge the growth of the smart thermostat market in the region.
The US market dominated the North America Smart Thermostat Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,239.4 million by 2028. The Canada market is poised to grow at a CAGR of 18.5% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 17.4% during (2022 - 2028).
Based on Product, the market is segmented into Connected, Standalone and Learning. Based on End User, the market is segmented into Residential, Commercial and Industrial. Based on Technology, the market is segmented into Wi-Fi, ZigBee and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Smart Thermostat Market is Estimated to reach $9.5 Billion by 2028, at a CAGR of 16.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Johnson Controls International PLC, Emerson Electric Co., Resideo Technologies, Inc., Snap One Holdings Corp. (Control4), Centrica Plc, Ecobee, Inc. (Generac Holdings, Inc.), Netatmo SAS (LeGrand Group), Tado GmbH, and Vine Connected Corporation (Xing Connected Corporation).
Scope of the Study
Market Segments Covered in the Report:
By Product
- Connected
- Standalone
- Learning
By End User
- Residential
- Commercial
- Industrial
By Technology
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Siemens AG
- Johnson Controls International PLC
- Emerson Electric Co.
- Resideo Technologies, Inc.
- Snap One Holdings Corp. (Control4)
- Centrica Plc
- Ecobee, Inc. (Generac Holdings, Inc.)
- Netatmo SAS (LeGrand Group)
- Tado GmbH
- Vine Connected Corporation (Xing Connected Corporation)
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Smart Thermostat Market, by Product
1.4.2 North America Smart Thermostat Market, by End User
1.4.3 North America Smart Thermostat Market, by Technology
1.4.4 North America Smart Thermostat Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition & scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
Chapter 4. North America Smart Thermostat Market by Product
4.1 North America Connected Market by Country
4.2 North America Standalone Market by Country
4.3 North America Learning Market by Country
Chapter 5. North America Smart Thermostat Market by End-user
5.1 North America Residential Market by Country
5.2 North America Commercial Market by Country
5.3 North America Industrial Market by Country
Chapter 6. North America Smart Thermostat Market by Technology
6.1 North America Wi-Fi Market by Country
6.2 North America ZigBee Market by Country
6.3 North America Others Market by Country
Chapter 7. North America Smart Thermostat Market by Country
7.1 US Smart Thermostat Market
7.1.1 US Smart Thermostat Market by Product
7.1.2 US Smart Thermostat Market by End-user
7.1.3 US Smart Thermostat Market by Technology
7.2 Canada Smart Thermostat Market
7.2.1 Canada Smart Thermostat Market by Product
7.2.2 Canada Smart Thermostat Market by End-user
7.2.3 Canada Smart Thermostat Market by Technology
7.3 Mexico Smart Thermostat Market
7.3.1 Mexico Smart Thermostat Market by Product
7.3.2 Mexico Smart Thermostat Market by End-user
7.3.3 Mexico Smart Thermostat Market by Technology
7.4 Rest of North America Smart Thermostat Market
7.4.1 Rest of North America Smart Thermostat Market by Product
7.4.2 Rest of North America Smart Thermostat Market by End-user
7.4.3 Rest of North America Smart Thermostat Market by Technology
Chapter 8. Company Profiles
8.1 Siemens AG
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments:
8.1.5.1 Product Launches and Product Expansions:
8.1.6 SWOT Analysis
8.2 Johnson Controls International PLC
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental & Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 Recent strategies and developments:
8.2.5.1 Product Launches and Product Expansions:
8.2.5.2 Acquisition and Mergers:
8.3 Emerson Electric Co.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.4 Resideo Technologies, Inc.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expenses
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations, and Agreements:
8.4.5.2 Product Launches and Product Expansions:
8.4.5.3 Acquisition and Mergers:
8.5 Snap One Holdings Corp. (Control4)
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Regional Analysis
8.5.4 Recent strategies and developments:
8.5.4.1 Acquisition and Mergers:
8.6 Centrica Plc
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.7 Ecobee, Inc. (Generac Holdings, Inc.)
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Product Class Analysis
8.7.4 Research & Development Expenses
8.7.5 Recent strategies and developments:
8.7.5.1 Product Launches and Product Expansions:
8.8 Netatmo SAS (LeGrand Group)
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Regional Analysis
8.8.4 Research & Development Expense
8.9 Tado GmbH
8.9.1 Company Overview
8.10. Vine Connected Corporation (Xing Connected Corporation)
8.10.1 Company Overview
TABLE 1 North America Smart Thermostat Market, 2018 - 2021, USD Million
TABLE 2 North America Smart Thermostat Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Smart Thermostat Market
TABLE 4 Product Launches And Product Expansions– Smart Thermostat Market
TABLE 5 Acquisition and Mergers– Smart Thermostat Market
TABLE 6 North America Smart Thermostat Market by Product, 2018 - 2021, USD Million
TABLE 7 North America Smart Thermostat Market by Product, 2022 - 2028, USD Million
TABLE 8 North America Connected Market by Country, 2018 - 2021, USD Million
TABLE 9 North America Connected Market by Country, 2022 - 2028, USD Million
TABLE 10 North America Standalone Market by Country, 2018 - 2021, USD Million
TABLE 11 North America Standalone Market by Country, 2022 - 2028, USD Million
TABLE 12 North America Learning Market by Country, 2018 - 2021, USD Million
TABLE 13 North America Learning Market by Country, 2022 - 2028, USD Million
TABLE 14 North America Smart Thermostat Market by End-user, 2018 - 2021, USD Million
TABLE 15 North America Smart Thermostat Market by End-user, 2022 - 2028, USD Million
TABLE 16 North America Residential Market by Country, 2018 - 2021, USD Million
TABLE 17 North America Residential Market by Country, 2022 - 2028, USD Million
TABLE 18 North America Commercial Market by Country, 2018 - 2021, USD Million
TABLE 19 North America Commercial Market by Country, 2022 - 2028, USD Million
TABLE 20 North America Industrial Market by Country, 2018 - 2021, USD Million
TABLE 21 North America Industrial Market by Country, 2022 - 2028, USD Million
TABLE 22 North America Smart Thermostat Market by Technology, 2018 - 2021, USD Million
TABLE 23 North America Smart Thermostat Market by Technology, 2022 - 2028, USD Million
TABLE 24 North America Wi-Fi Market by Country, 2018 - 2021, USD Million
TABLE 25 North America Wi-Fi Market by Country, 2022 - 2028, USD Million
TABLE 26 North America ZigBee Market by Country, 2018 - 2021, USD Million
TABLE 27 North America ZigBee Market by Country, 2022 - 2028, USD Million
TABLE 28 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 29 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 30 North America Smart Thermostat Market by Country, 2018 - 2021, USD Million
TABLE 31 North America Smart Thermostat Market by Country, 2022 - 2028, USD Million
TABLE 32 US Smart Thermostat Market, 2018 - 2021, USD Million
TABLE 33 US Smart Thermostat Market, 2022 - 2028, USD Million
TABLE 34 US Smart Thermostat Market by Product, 2018 - 2021, USD Million
TABLE 35 US Smart Thermostat Market by Product, 2022 - 2028, USD Million
TABLE 36 US Smart Thermostat Market by End-user, 2018 - 2021, USD Million
TABLE 37 US Smart Thermostat Market by End-user, 2022 - 2028, USD Million
TABLE 38 US Smart Thermostat Market by Technology, 2018 - 2021, USD Million
TABLE 39 US Smart Thermostat Market by Technology, 2022 - 2028, USD Million
TABLE 40 Canada Smart Thermostat Market, 2018 - 2021, USD Million
TABLE 41 Canada Smart Thermostat Market, 2022 - 2028, USD Million
TABLE 42 Canada Smart Thermostat Market by Product, 2018 - 2021, USD Million
TABLE 43 Canada Smart Thermostat Market by Product, 2022 - 2028, USD Million
TABLE 44 Canada Smart Thermostat Market by End-user, 2018 - 2021, USD Million
TABLE 45 Canada Smart Thermostat Market by End-user, 2022 - 2028, USD Million
TABLE 46 Canada Smart Thermostat Market by Technology, 2018 - 2021, USD Million
TABLE 47 Canada Smart Thermostat Market by Technology, 2022 - 2028, USD Million
TABLE 48 Mexico Smart Thermostat Market, 2018 - 2021, USD Million
TABLE 49 Mexico Smart Thermostat Market, 2022 - 2028, USD Million
TABLE 50 Mexico Smart Thermostat Market by Product, 2018 - 2021, USD Million
TABLE 51 Mexico Smart Thermostat Market by Product, 2022 - 2028, USD Million
TABLE 52 Mexico Smart Thermostat Market by End-user, 2018 - 2021, USD Million
TABLE 53 Mexico Smart Thermostat Market by End-user, 2022 - 2028, USD Million
TABLE 54 Mexico Smart Thermostat Market by Technology, 2018 - 2021, USD Million
TABLE 55 Mexico Smart Thermostat Market by Technology, 2022 - 2028, USD Million
TABLE 56 Rest of North America Smart Thermostat Market, 2018 - 2021, USD Million
TABLE 57 Rest of North America Smart Thermostat Market, 2022 - 2028, USD Million
TABLE 58 Rest of North America Smart Thermostat Market by Product, 2018 - 2021, USD Million
TABLE 59 Rest of North America Smart Thermostat Market by Product, 2022 - 2028, USD Million
TABLE 60 Rest of North America Smart Thermostat Market by End-user, 2018 - 2021, USD Million
TABLE 61 Rest of North America Smart Thermostat Market by End-user, 2022 - 2028, USD Million
TABLE 62 Rest of North America Smart Thermostat Market by Technology, 2018 - 2021, USD Million
TABLE 63 Rest of North America Smart Thermostat Market by Technology, 2022 - 2028, USD Million
TABLE 64 Key Information – Siemens AG
TABLE 65 Key Information – Johnson Controls International PLC
TABLE 66 Key Information – Emerson Electric Co.
TABLE 67 Key Information – Resideo Technologies, Inc.
TABLE 68 Key Information – Snap One Holdings Corp.
TABLE 69 Key Information – Centrica Plc
TABLE 70 Key Information – Ecobee, Inc.
TABLE 71 Key Information – Netatmo SAS
TABLE 72 Key Information – Tado GmbH
TABLE 73 Key Information – Vine Connected Corporation
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Swot analysis: Siemens AG
FIG 5 Recent strategies and developments: Resideo Technologies, Inc.