Market Share of Smart Thermostat Industry
The smart thermostat market is fragmented and competitive. Due to the government's support and promotion for the uptake of smart devices in residential buildings, many smart home vendors have entered the market. Some of the key players in the market include Alphabet Inc. (Nest Labs - Google), Honeywell International Inc., Ecobee, Schneider Electric SE, and Lennox International Inc., among others. Some recent developments in the market include:
In September 2022, Autogrid entered into a partnership with Mysa with an aim to launch utility-scale virtual power plants using smart thermostat technology for grid modernization. AutoGrid would be leveraging its VPP platform in collaboration with Mysa's smart thermostat technology for electric heating and cooling to provide a scalable and comprehensive dispatch solution for both technologies and other IoT solutions from various thermostat and Water Heater Controls platforms.
In May 2022, Ecobee launched its new Ecobee Smart Thermostat Premium, which would be replacing its existing flagship model, SmartThermostat with Voice Control, with new features.
Smart Thermostat Market Leaders
Nest Labs Inc.
ecobee
Emerson Electric Co.
Johnson Controls
Honeywell International
*Disclaimer: Major Players sorted in no particular order
