According to a recent report from Navigant Research, Ecobee is the leading smart thermostat vendor, followed closely by Nest Labs and Honeywell.
Ecobee has emerged as the leading smart thermostat vendor in a new leaderboard report from Navigant Research. The annual report examined 17 of the most prime smart thermostat service vendors, assessing their relative strengths and weaknesses in the global market. While Nest Labs and Honeywell both received outstanding scores, Ecobee managed to surpass both companies and emerge as the leading vendor in the industry.
The Rise of the ecobee Smart Thermostat
However, that doesn’t mean that ecobee offers the best smart thermostat on the market. The report rather focuses on some important factors for a vendor in the industry. They include the successful deploying of marketing campaigns, the capitalization on the market a seller has, as well as following a strong vision for the future of the smart thermostat industry.
“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,” stated Paige Leuschner, a lead research analyst with Navigant Research. He further said that companies, including ecobee and Nest, have managed to create services and products that set the standard for the smart thermostat industry.
The official criteria used by Navigant research to rate the vendors includes vision, partners, production strategy and roadmap, product quality and reliability, pricing, staying power and sales, among others. The report further states that software cloud-based services are also becoming a vital part of the smart thermostat devices, providing them with valuable insights.
According to the report, the top 10 Smart Thermostat Vendors are as follows
- Nest Labs
- Schneider Electric
Ecobee managed to top the vendor leaders list, after being 5th in 2013 and 6th in 2015, showing impressive growth throughout the last and this year.
A Growing Smart Thermostat Industry
Earlier in July, Navigant Research released another report about the Smart Thermostats industry. In the report, they outlined the impressive growth of the market in the past few years. Analyzing the global market opportunities for the smart thermostats industry, Navigant Research stated in the report that the market is expected to grow from $1.1 billion in 2016 to as much as $4.4 billion in 2025.
“In the next decade, smart thermostats are expected to account for almost half of the annual thermostat shipments,” stated Paige Leuschner. “Uptake of these and communicating thermostats is expected to escalate as software and services increase the value of thermostats,” he added further.
ecobee, Nest or Honeywell?
At the end of the day, the research just goes to show the fast development of the smart thermostat industry. Even though ecobee emerges as the industry leader in the vendor report, it is closely followed by Nest Labs and Honeywell. With that in mind, if you are going to buy a smart thermostat, whether it would be Z-Wave ready or not, be sure first to check out your options and then decide on what to purchase and buy.
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