Trends in the Smart Thermostat Market
Posted on Thursday Nov 14, 2019 at 04:13PM in General
Smart thermostats continue to get “smarter”, integrating new technology at an increasing pace. Over the past three years, the smart thermostat adoption rate in US households has tripled from 4% to 12%. No longer in the early adopter phase, the market for smart thermostats is projected to reach $4.07 billion by the year 2024, registering a compound annual growth rate of nearly 21%. As the general public embraces smart thermostats, more contractors will be needed for installation and service calls, especially in older homers that may not be equipped with C-wires.
The smart thermostat is a stepping-stone for contractors into the “smart home” business, as homeowners often move on to other smart home devices like locks, lights, and voice assistants after starting off with a smart thermostat. Additionally, smart thermostat apps provide a special feature that allows contractors to enter their contact information for the homeowner. Contractors will immediately receive a text message or email alert if there is a problem, keeping the “smart” contractor connected with their smart home customers.
At Geary Pacific, we offer a wide range of smart thermostats from leading manufacturers such as Ecobee, Honeywell, and White-Rodgers. Give your customers the power to transform their home and pick up a connected thermostat from a local Geary Pacific branch today!
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