The market for smart thermostats is mainly centered in North America and Western Europe, where deployments of smart grid technologies have helped drive awareness of energy usage and how consumers can leverage new tools, such as advanced thermostats, to help lower costs and consumption. In other regions, smart thermostats have yet to gain much traction. However, as smart grid deployments expand in these other geographies, smart thermostats will gain some ground.
Navigant Research expects steady growth for smart thermostats through 2020, driven by rising energy costs, increased environmental awareness, regulatory pressure to encourage energy efficiency, and more effective marketing programs. In spite of these drivers, certain barriers will keep the market from rapid growth. These include the higher cost of smart thermostats (compared to conventional thermostats), inconclusive data on actual savings, cautious utilities uncertain about how to support deployments, and ineffective marketing campaigns. Still, Navigant Research forecasts that smart thermostats will compose a growing percentage of total thermostats sold globally going forward, reaching 13% of the total by 2020.

This Navigant Research Leaderboard Report examines the strategy and execution of 11 smart thermostat manufacturers that are active in the global smart thermostat market and rates them on 12 criteria. 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. Honeywell emerged as the sole Leader in this report due to its ability to react to challenger Nest and use its dominant brand to its advantage. Five others, led by Nest, are ranked as Contenders, and five vendors are Challengers.

Top 10 Vendors:

1. Honeywell

2. Nest

3. Trane

4. Carrier

5. ecobee

6. Energate

7. Emerson

8. Computime

9. Radio Thermostat Company of America

10. Venstar

Key Questions Addressed:

• Which companies are Leaders, Contenders, and Challengers in the global smart thermostat market?
• How can the lower-ranked players improve their position on the Navigant Research Leaderboard Grid?
• What drivers are shaping the global smart thermostat market?
• What barriers are keeping the smart thermostat market from growing more rapidly?
• What is the forecast for the global smart thermostat market?

Who needs this report?

• Thermostat manufacturers
• Utilities
• Residential builders
• Broadband service providers
• Home security providers
• Government agencies
• Investor community

Table of Contents

1. Executive Summary

1.1  Market Introduction

1.2  The Navigant Research Leaderboard Grid

2. Market Overview

2.1  Market Definition

2.2  Market Drivers

2.2.1   Desire to Lower Energy Bills

2.2.2   Green Consciousness

2.2.3   Stronger Marketing

2.2.4   Decreasing Prices

2.2.5   New Players in Energy Management

2.2.6   Movement toward Interoperability

2.2.7   Regional Incentives

2.3  Market Barriers

2.3.1   Perceived High Cost

2.3.2   Inconclusive Data on Actual Savings

2.3.3   Cautious Utilities

2.3.4   Marketing Challenges

2.3.5   Poor Usability

2.4  Market Trends

3. The Navigant Research Leaderboard

3.1  The Navigant Research Leaderboard Categories

3.1.1   Leaders

3.1.2   Contenders

3.1.3   Challengers

3.1.4   Followers

3.2  The Navigant Research Leaderboard Grid

4. Company Rankings

4.1  Leaders

4.1.1   Honeywell

4.2  Contenders

4.2.1   Nest

4.2.2   Trane

4.2.3   Carrier

4.2.4   ecobee

4.2.5   Energate

4.3  Challengers

4.3.1   Emerson

4.3.2   Computime

4.3.3   Radio Thermostat Company of America

4.3.4   Venstar

4.3.5   Tado

4.4  Followers

5. Company Directory
6. Acronym and Abbreviation List
7. Table of Contents
8. Table of Charts and Figures
9. Scope of Study and Methodology

9.1   Scope of Study

9.2   Sources and Methodology

9.2.1   Vendor Selection

9.2.2   Ratings Scale

9.2.2.1   Score Calculations

9.2.3   Criteria Definitions

9.2.3.1   Strategy

9.2.3.2   Execution

List of Charts and Figures

• The Navigant Research Leaderboard Grid
• Smart Thermostat Revenue by Region, World Markets: 2013-2020
• Honeywell Strategy and Execution Scores
• Nest Strategy and Execution Scores
• Trane Strategy and Execution Scores
• Carrier Strategy and Execution Scores
• ecobee Strategy and Execution Scores
• Energate Strategy and Execution Scores
• Emerson Strategy and Execution Scores
• Computime Strategy and Execution Scores
• Radio Thermostat Company of America Strategy and Execution Scores
• Venstar Strategy and Execution Scores
• Tado Strategy and Execution Scores

List of Tables

• Smart Thermostat Revenue by Region, World Markets: 2013-2020
• The Navigant Research Leaderboard Overall Scores
• Vendor Scores
• Vendor Scores on Strategy Criteria
• Vendor Scores on Execution Criteria