The smart thermostat market size in the United States is forecast to reach $3.86 billion by 2029 with a compound annual growth rate of (CAGR) of 17.2% during the forecast period, according to market research firm Fortune Business Insights.
The smart thermostat market size in the U.S. was valued at $1.09 billion in 2021 and $1.27 billion in 2022. The U.S. smart thermostat market is set for significant growth, driven by the increasing adoption of energy-saving devices across residential, commercial and industrial applications. The U.S. government’s initiatives to promote the use of energy-efficient products to counter future energy crises are further propelling market growth.