Outstanding smart thermostat vendors

The market for communicating and smart thermostats has exploded with activity in the last couple of years, evolving through an early technology adoption phase and into a stable and growing market. Recently, partnerships among vendors, international expansion, and conclusive evidence of the technology’s cost-effectiveness has pushed the market toward further growth.

Smart thermostat vendors. Click on image to enlarge. Credit: Navigant Research

Introduced in the late 2000s, the technology has evolved through an early technology adoption phase into a stable and growing market. 2015 has seen significant activity in the form of partnerships, international expansion, technological growth, and more conclusive evidence of cost-effectiveness — as evidenced by collaborations between ecobee and Carrier, and Nest and solar provider SolarCity, as well as continued expansion of global marketing on behalf of Nest and tado, according to Navigant Research.

Navigant Research has examined the strategy and execution of 12 leading smart thermostat vendors based on 12 criteria, with two vendors standing out among the competition.

According to a new Leaderboard Report from Navigant Research, Honeywell and Nest now lead the smart thermostat vendor market in terms of strategy and execution due to their ability to maintain strong market share and their competitive marketing of products and services.

“Honeywell, which has been a market leader for some time, has maintained its position due to its existing products and programs and its pursuit of the higher-end smart thermostat segment,” said Lauren Callaway, research analyst with Navigant Research. “Nest, meanwhile, has gained market share by seeking out collaborations with other vendors and by expanding its global marketing initiatives.”

Heightened awareness of residential energy management and growing interest in particular devices, such as the Nest and ecobee smart thermostats, have fueled an end-consumer-based spike in the smart thermostats market, according to the report. Newer players, such as tado, are giving longtime vendors, such as Honeywell and Carrier, additional competition by marketing direct to consumers, attracting early adopters and a few mainstream customers, as well.

http://www.smartgridnews.com/story/navigant-names-standout-smart-thermostat-vendors/2015-07-23

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