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Q3 2025

Smart Product Market Assessment

Smart Thermostat Market Assessment 2025

Smart thermostats are becoming a common feature in consumers’ homes, offering convenient climate control, and acting as a critical energy management tool. Their ability to offer utilities flexible load control through demand response programs make them highly significant in the next era utility and energy services. They are also a core component of the smart home and have the potential to act as a whole home hub as they incorporate more communication technologies and become more integrated with other devices and platforms. 

This market assessment analyzes industry market trends, a five-year forecast of unit sales and revenues in the US, and the competitive landscape including brands, portfolios, features, and pricing. It also provides consumer data on US consumers’ engagement with smart thermostats, focusing on consumer familiarity, purchase motivations, the buyer journey, including purchase and install channels, average sales price, product returns, and barriers to purchase, user experience with leading brands’ thermostats, controls/interface preferences, and appeal of next generation features.

Key questions addressed:
  1. What are the leading brands and key competitors in the smart thermostat market?
  2. What are the current market trends and barriers to growth?
  3. How is the market projected to grow through 2030? 
  4. How familiar are consumers with smart thermostats and their value?
  5. What are the main purchase channels and methods for smart thermostats?
  6. What features do consumers find most appealing?
  7. What benefits do consumers expect regarding energy savings?
  8. How do premium thermostats compare with basic and mid-tier options?
  9. Are consumers interested in using their smart thermostat as a whole-home hub? 

 

Purchase

Download Table of Contents (PDF)

Defining Smart Thermostats

Executive Summary

Smart Thermostat Purchases and Intentions to Buy

Tech Affinity Among Smart Thermostat Owners

Smart Thermostat Purchase Intention

Top 5 Smart Thermostat Brands

Net Promoter Score of Top Smart Thermostat Brands

Concept Testing: Preferred Smart Thermostat Models

Prefer Hub Smart Thermostat by Smart Home Device Ownership

Top 10 Smart Thermostat Features

Opportunity to Be the Go-To Source for Energy Insights

Net Promoter Scores (NPS): Smart Thermostats vs. Energy Providers

The Smart Thermostat Market: Industry Trends & Forecast

Key Industry Trends

Product Evolution & Sunset: Lifecycle Management

Ecosystem Expansion & Integration

AI and Automation Enhances Smart Home Ecosystems

Heat Pump Offerings Integrating with Connected Thermostats

Competitive Product Launches & Differentiation

Ecobee’s Expanding Portfolio

Market Forces Impacting Smart Thermostat Adoption

Market Forces Impacting Smart Device Market Sizing and Forecasts

US Forecast - Smart Thermostats: Annual Unit Sales (#M) and Annual Sales Revenue at End-user Value ($M)

The Competitive Landscape

Newly Released Smart Thermostat Models and Pricing

Beyond Self-Install: Business Models and Hardware

Beyond Self-Install: The Differentiators

Smart Thermostat Portfolio Comparison-Pricing and Features

Top 10 Brands Owned: Smart Thermostat

Top 10 Brands Recently Purchased: Smart Thermostat

Net Promoter Score of Smart Thermostat Brands

Smart Thermostat Key Trending Metrics

Smart Thermostat Key Market Drivers

Smart Thermostat Key Market Drivers by Top Brands Owned

Smart Thermostat: High Familiarity, Perceived Value, and Affordability

Smart Thermostat Ownership

Top 5 Smart Home Device Adoption

Smart Thermostat Purchases and Intentions to Buy

Smart Thermostat Segments by Demographic Factors

Smart Thermostat Segments by Housing Factors

Smart Thermostat Ownership Among Tech Adopter Segments

Tech Affinity Among Smart Thermostat Owners

Smart Thermostat Buyer Journey

Awareness Channel of Smart Home Devices

Age of Smart Thermostats

Age of Smart Thermostats Among Owners who Intend to Buy

Smart Thermostat Channel Rankings (2015 - 2024)

Smart Thermostat: Average Selling Price

Smart Thermostat: Installation Method

Smart Thermostat: Type of Purchase

Reasons for Smart Thermostat Return

Smart Thermostat Usage

Frequency of Smart Thermostat Usage

Frequency of Smart Thermostat Usage by Age

Temperature Adjustment Settings of Smart Thermostats

Consumer Perception Regarding Energy Savings

Monthly Savings From Smart Thermostat Use - Estimated Savings: % of Monthly Bill

Monthly Savings From Smart Thermostat Use - Estimated Savings: Amount ($) of Monthly Energy Costs

Estimated Monthly Saving Amount by Consumer Perception

Plans for Smart Thermostats When Moving

Smart Thermostat Purchase Intention

Demand Response Engagement

Demand Response Participation

Information Source for Demand Response Programs By Smart Thermostat Owners

Information Source for Demand Response Programs By Smart Thermostat Brands

Incentive to Participate in Demand Response Program

Preferred Incentive to Allow Electricity Provider Adjust Thermostat

Willingness to Adjust Smart Thermostats Among Owners

Reasons for Not Participating in Demand Response Program

Next-Generation Features

Appeal of Smart Thermostat Features Among Smart Thermostat Owners or Intenders

Appeal of Smart Thermostat Features: Owners vs Intenders

Type of Smart Thermostat Most Likely to Buy Among Smart Thermostat Intenders

Type of Smart Thermostat Most Likely to Buy by Smart Home Device Ownership

Demographics of Intenders Preferring Premium Hub Thermostat

Type of Smart Thermostat Most Likely to Buy by Household Income

Standout Thermostat Features Differentiating Tiers: Premium Hub vs. Learning Thermostat

Standout Thermostat Features Differentiating Tiers: Learning Thermostat vs Basic Thermostat

Energy Usage Insights

Monitoring Home Energy Usage Through Other Applications Among All US Internet Households

Monitoring Home Energy Usage Through Other Applications Among Owners of Specified Devices

Willingness to Share Energy Usage Data Between Devices, by Device Ownership

Willingness to Share Energy Usage Data Between Devices, by Smart Thermostat Brands

Preferred Provider for Energy Usage Monitoring and Optimization App by Smart Thermostat Owners

Preferred Provider for Energy Usage Monitoring and Optimization App by Smart Thermostat Brands

Smart Thermostat Control

Smart Thermostat Control Methods

Top Devices or Services to Control Using Voice Assistant

Valuable Features from New AI Assistants by Smart Thermostat Ownership

Technical Issues

Smart Thermostat Technical Problems Experienced

High Difficulty of Initial Setup by Smart Home Devices

Smart Home Thermostats: Resolution of Technical Problems

Smart HVAC Service

HVAC Service Use, by Smart Thermostat Adoption

HVAC Service Features, by Smart Thermostat Adoption

Smart HVAC Service Appeal

Appeal of Smart HVAC Service By Smart Home Device & Service Usage

Appeal of Smart HVAC Service By # of Services Included in Current HVAC Package

Important Elements of a Smart HVAC Service

ecobee
Meross
Carrier
Alarm.com
Copeland Home
2GiG
Alarm.com
Amazon
American Standard
Apollo
Aprilaire
Aqara
Avatto
Black+Decker
Bosch
Braeburn
Cielo
Clare Controls
Crestron
Control4
Cync (C by GE)
Fibaro
Flair
GLAS
Gocontrol/2GiG
Gosund
Hive
Honeywell
iDevices
Johnson Controls
King Electric
Lennox
Levoit
Lux
Meross
MincoHome
MOES
Mysa
Nest
Netatmo
Qubino
Rheem
Savant
Schluter
Schneider Electric
Sensi
Sinope
Smarttemp
Suntouch
Tado
Telkonet
Trane
Tuya
Vine
Vivint
Warmup
Wyze
Zen
Zenith Smart Technology
Google Nest
Honeywell Home
Lennox
Trane
Tuya
Universal Electronics
Venstar