United States. Smart thermostats are forecast to take a larger share of the market this year, accounting for more than 40% of the nearly 10 million thermostats sold in the U.S., according to new research on smart homes from Parks Associates.
"Smart thermostats already account for more than half of the smart home devices in U.S. broadband homes," said Tom Kerber, director of Parks Associates. "Many companies have promoted smart thermostats as part of their home energy management initiatives; however, the retail channel accounts for the largest number of units sold last year, almost 45% of the total market, so opening utility programs to include the variety of different types and brands of devices is an important consideration."
Retailers such as Target, Walmart and Best Buy are working to increase their offerings in the smart home category, including space dedicated to demonstrating these new products and raising consumer awareness.
"The cost of heating or cooling a home accounts for about 50% of the global utility bill," Kerber said. "Improving data can help consumers reduce energy use and utilities by finding energy efficiency and goals and responses to demand. In addition, energy providers have the opportunity to reap economic benefits from the mountain of data derived from the two smart meters and smart devices."
