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Honeywell And Nest Lead The Way For Smart Thermostats

Honeywell and Nest are leading the way for smart thermostats, according to a new analysis conducted by Navigant Research.

Nest-learning-thermostatThe market for smart thermostats has exploded over the past few years, progressing quickly through an early technological adoption phase and into a stable and flourishing market. Two vendors have stood well and above the rest, one an existing consumer company and the other a new entrant: Honeywell and Nest respectively, and according to Navigant, the two companies lead the smart thermostat vendor market in terms of strategy and execution.

“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,” says 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.”

The top 10 vendors, in order, are: Honeywell, Nest, EnergyHub, EcoFactor, Schneider, ecobee, Emerson, Comverge, Carrier, and Energate. Their placement by Navigant Research in terms of strategy and execution is as follows:


Specifically, Navigant highlights three specific segment definitions across the wider smart thermostat market: Communicating thermostats, smart thermostats, and software and services for communicating and smart thermostats.

But it’s the heightened consumer awareness and subsequent interest that has defined this market, thanks to companies like ecobee and Nest which, according to Navigant, “have fueled an end-consumer-based spike in the smart thermostats market.”

Navigant’s research comes immediately following research from Parks Associates predicting that smart thermostats will account for over 40% of all thermostats sold in the US in 2015.

“Smart thermostats already account for more than one-half of the smart home devices in U.S. broadband households,” said Tom Kerber, Director, Research, Home Controls & Energy, Parks Associates. “Many utilities have promoted smart thermostats as part of their home energy management initiatives; however, the retail channel accounts for the most units sold last year, nearly 45% of the total market, so opening utility programs to include the variety of different types and brands of devices is an important consideration.”

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