BOULDER, Colo.--(BUSINESS WIRE)--A new Leaderboard Report from Navigant Research examines the strategy and execution of 12 leading smart thermostat vendors, including vendor profiles and rankings to provide industry participants with an objective assessment of these companies’ relative strengths and weaknesses in the growing smart thermostat market.
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, with two vendors (Honeywell and Nest) standing out among the competition. Click to tweet: 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.
“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.”
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.
The report, Navigant Research Leaderboard Report: Smart Thermostats, examines the strategy and execution of 12 smart thermostat manufacturers and software providers 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 and Nest emerged as Leaders in this report due to their ability to maintain strong market share and competitive marketing of products and services. Six others are ranked as Contenders with high variability between their respective Strategy and Execution scores, and four vendors are Challengers. 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: 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.