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Smart Thermostat Sales To Rise Past 40% In 2015

Smart thermostats are set to continue in popularity, with new research from Parks Associates predicting they will account for over 40% of those sold in the US in 2015.

The report, Winning Smart Home Strategies for Energy Management, estimates that smart thermostats like the ever popular Nest Learning Thermostat are set to account for over 40% of the nearly 10 million thermostats sold in the US in 2015, a figure which they suggest will increase to over 50% of the total market by 2017.

Parks Associates-1

“Smart thermostats already account for more than one-half of the smart home devices in U.S. broadband households,” said Tom Kerber, Director, Research, Home Controls & Energy, Parks Associates. “Many utilities have promoted smart thermostats as part of their home energy management initiatives; however, the retail channel accounts for the most units sold last year, nearly 45% of the total market, so opening utility programs to include the variety of different types and brands of devices is an important consideration.”

Unsurprisingly, Parks details how retailers such as Target, Walmart, and Best Buy are aiming to increase the range of smart home devices they sell, and are looking to create dedicated spaces by which they can demonstrate the products and increase product awareness.

Smart thermostats might be the darling of the clean technology world, with Nest leading the way with their Apple-like design ethos and technological innovation. In June the company revamped their entire line, as well as introduced the new Nest Cam.

“The cost of heating and cooling a home accounts for as much as 50% of the overall utility bill,” added Tom Kerber. “Leveraging data can help consumers reduce energy use and utilities meet energy efficiency and demand response goals. Further, energy providers have the opportunity to monetize the mountain of data derived from both smart meters and smart devices.”

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