BOULDER, Colo.--(BUSINESS WIRE)--A new Leaderboard Report from Navigant Research examines the strategy and execution of 16 leading home energy management (HEM) vendors, including vendor profiles and rankings, to provide industry participants with an objective assessment of these companies’ relative strengths and weaknesses in this growing market.
While the HEM market has struggled to gain traction in the past, particularly from a utility standpoint, it began gathering momentum in 2014 and continues to grow as consumers find value in its technologies and services, including home energy reports, web portals, and in-home displays. Though some companies in this market have left to pursue other goals or have settled into niche roles, two vendors stand out among the competition. Click to tweet: According to a new Leaderboard Report from Navigant Research, Opower and Google’s Nest Labs lead the HEM vendor market in terms of strategy and execution.
“While hardware is certainly an important part of HEM, as the market continues to grow, software platforms and analytics play an even more important role in engaging customers and fostering awareness, such as participating in demand response or energy efficiency programs,” says Paige Leuschner, research associate with Navigant Research. “Opower and Google’s Nest Labs have shown that they offer solutions mutually beneficial to utilities and customers that outpace competitors.”
Though many HEM vendors struggled to gain traction in the early years of this market, according to the report, Google’s 2014 purchase of Nest Labs signaled that a giant tech company saw something worth pursuing in smart thermostats and connected home devices. This led to increased innovation, with more vendors exploring possibilities beyond hardware devices.
The report, Navigant Research Leaderboard Report: Home Energy Management, examines the strategy and execution of 16 companies that offer HEM software solutions 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 HEM market. Both Opower and Google emerged as leaders, as they scored highest for their ability to offer innovative suites of solutions to utilities and consumers that help them more efficiently manage energy use. Seven others are ranked as Contenders, six are Challengers, and one is a Follower. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is an independent specialized, global professional services firm that combines deep industry knowledge with technical expertise to enable companies to defend, protect and create value. With a focus on industries and clients facing transformational change and significant regulatory and legal issues, the Firm serves clients primarily in the healthcare, energy and financial services sectors which represent highly complex market and regulatory environments. Professional service offerings include strategic, financial, operational, technology, risk management, compliance, investigative solutions, dispute resolutions services and business process management services. The Firm provides services to companies, legal counsel and governmental agencies. The business is organized in four reporting segments – Disputes, Investigations & Economics; Financial, Risk & Compliance; Healthcare; and Energy. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Navigant Research Leaderboard Report: Home Energy Management, 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.