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IoT

27% of smart thermostat owners have a Nest thermostat

DALLAS – New research from Parks Associates shows that 13% of internet households have a smart thermostat. About one in four, equaling roughly 15 million households, report owning a Google Nest thermostat, while Honeywell and ecobee round out the top three brands in this product category. Parks Associates' Smart Thermostat Market Assessment includes consumer data for smart thermostats, including trends across years and deep-dive insights on product usage, pain points, and preferences.

Prices in the category have fluctuated as consumers weigh the benefits of premium products against lower-cost models that may be offered by brands outside of the top three. To break the hold of the top brands, other brands will need to innovate features, bundle with other smart home or energy devices, and partner with energy providers.

Other research data highlights from Parks Associates:

  • 45% of smart thermostat owners say the feature they use the most is "remote control from an app"
  • Almost half of smart thermostat owners saved more money than they initially expected
  • Engagement with these devices is high - most owners report adjusting their smart thermostat at least once a day
  • 12% of new purchasers got their thermostat through their electricity provider

Smart Thermostat Smart Product Market Assessment identifies key market drivers and barriers and assesses growth of these products, including use cases, user profiles, and consumer attitudes and preferences. Key topics include adoption trends, new technology developments, key and emerging competitors, features offered, barriers to adoption, and consumer security and privacy concerns.

Read the full press release here.

Parks Associates

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