Smart thermostat distribution channels are increasing and the importance of software and services is growing
A new Leaderboard report from Navigant Research examines the strategy and execution of 17 leading smart thermostat hardware, software, and service vendors, providing industry participants with an objective assessment of these companies’ relative strengths and weaknesses in the global market.
Adoption of smart and communicating thermostats continues to grow as consumers become more aware of the value the devices can deliver and as more companies continue to enter the space. Leading players have capitalized on the market by offering their products through a variety of distribution channels and partnerships, while also deploying successful marketing campaigns and following a strong vision for the future of the industry. Click to tweet: According to a new Leaderboard report from @NavigantRSRCH, ecobee is the leading smart thermostat vendor, with Nest Labs and Honeywell following closely.
“More value is being realized from smart thermostats because they enable customers to save money on energy bills, help utilities meet regulatory requirements, and play a role in the connected home,” says Paige Leuschner, research analyst with Navigant Research. “Companies leading this market, like ecobee and Nest, have created products and services that set the standard for thermostats with the ability to improve energy efficiency and engage consumers.”
The smart thermostat market continues to expand as telecommunications and broadband service providers, home security companies, and heating, ventilating, and air conditioning (HVAC) installers race to incorporate advanced thermostats into their solutions. According to the report, software and services—especially those that are cloud-based—have also become a vital part of more intelligent thermostats, providing data-based insights and opportunities that increase the value of the devices.
The report, Navigant Research Leaderboard Report: Smart Thermostats, examines the strategy and execution of 17 manufacturers and software and services providers that are active in the global communicating and smart thermostat market. The vendors are rated on 12 criteria: vision; go-to-market strategy; partners; production strategy and roadmap; technology; geographic reach; sales, marketing, and distribution; product performance; product quality and reliability; product portfolio; pricing; and staying power. Using Navigant Research’s proprietary Leaderboard methodology, vendors are profiled, rated, and ranked with the goal of providing industry participants with an objective assessment of these companies’ relative strengths and weaknesses in the global smart thermostat market. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Navigant Research Leaderboard Report: Smart Thermostats, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.