Top 9 Smart Thermostat Manufacturers in the World

Top 9 Smart Thermostat Manufacturers in the World

The global smart thermostat market size reached US$ 3.0 Billion in 2022. As per the analysis by IMARC Group, the top smart thermostat companies are heavily spending on extensive research and development (R&D) activities to introduce improved smart thermostat systems in an attempt to gain a competitive edge. Along with this, the emergence of advanced algorithms has enabled leading players to understand consumer preferences and launch smart thermostat systems that can automatically adjust heating and cooling settings, which is helping top companies to maximize profit and strengthen their market position. Moreover, the growing preference to save energy and reduce energy bills among homeowners has encouraged manufacturers to focus on developing energy-efficient product variants, thus creating a positive market outlook. Apart from this, key players are launching smart thermostats that can be remotely controlled via smartphone apps, set schedules for heating and cooling, and receive notifications if there are any issues with their HVAC systems. Additionally, smart thermostat companies are investing heavily in designs to make their products more appealing and aesthetically pleasing to consumers that can fit well with modern home décor, which is providing a boost to the product demand. Furthermore, continual technological advancements have impelled leading players to integrate their products with artificial intelligence (AI) and machine learning (ML) to differentiate them from traditional companies, which is contributing to their success in the market. Other factors, including rapid urbanization and augmenting electricity costs, are impacting the market favorably. On account of these factors, the market is expected to US$ 8.6 Billion by 2028, exhibiting a growth rate (CAGR) of 21.6% during 2023-2028.

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List of Top Companies and Manufacturers Operating in the Smart Thermostat Industry Worldwide

The global smart thermostat market has several major players including Nest Labs, Inc., Honeywell International Inc., Ecobee, Inc., Emerson Electric Co., Schneider Electric SE, Tado GmbH, Control4 Corporation, Carrier Corporation and Nortek, Inc. More information about these companies has been provided below.

1. Nest Labs, Inc. 

Establishment: 2010
Headquarters: California, United States


Nest Labs, Inc. is majorly involved in the designing and manufacturing of smart home products, including smart thermostats, home security systems, and other home automation devices. Its flagship product is the Nest Learning Thermostat, which is integrated with advanced technologies that aid in optimizing energy. In addition to its product offerings, Nest has also developed a number of software applications, including the Nest app, which allows users to control their smart home devices from their smartphones or other mobile devices. The company is committed to sustainable manufacturing practices and has implemented several initiatives to reduce its environmental impacts, such as the implementation of waste reduction programs and water conservation initiatives to reduce its carbon footprint.

2. Honeywell International Inc. 

Establishment: 1906
Headquarters: Indiana, United States


Honeywell International Inc. is a multinational conglomerate that produces a range of commercial and consumer products, including aerospace systems, building technologies, and performance materials. Its product portfolio includes access control systems, electrical and wiring, RFID solutions, printers, barcode scanners, acids and bases, labware, thermostats and security systems and portable heaters, fans and residential air purifiers. Additionally, it has partnered with several organizations to promote sustainable development, including the United Nations Global Compact and the World Business Council for Sustainable Development. The company is known for its focus on innovation, with a strong commitment to research and development and has a global presence with numerous operation facilities across the globe.

3. Ecobee, Inc.

Establishment: 2007
Headquarters: Toronto, Ontario


Ecobee, Inc. is a home automation company that is primarily engaged in the production and selling of smart thermostats, home automation devices, and related products. It is known for its innovative approach to smart home technology, with a focus on energy efficiency, user-friendly design, and cutting-edge features. The company offers a range of smart home devices, including smart light switches, room sensors, and smart cameras. It has a strong commitment to sustainability, with a focus on reducing energy consumption and promoting sustainable development. The company has launched One-of-a-kind Donate Your Data program that allows users to share their anonymized thermostat data with scientists to help build clean energy grids across the globe and also introduced a sustainable packaging method using tapioca starch trays in order to significantly minimize the consumption of water and energy.

4. Emerson Electric Co.

Establishment: 1890
Headquarters: Missouri, United States


Emerson Electric Co. is a global technology company that provides solutions and services for industrial, commercial, and residential customers. The company offers a wide range of products, including measurement and analytical instruments, valves and actuators, and asset management software. Additionally, it is heavily investing in innovations by leveraging the internet of things (IoT) and artificial intelligence (AI) to provide more efficient and effective solutions to customers, which are used in various industries, such as manufacturing, energy, and healthcare across the globe. Emerson utilizes a unique framework that groups their environmental sustainability efforts into three broad pillars, including greening of Emerson, greening by Emerson and greening with Emerson. This framework has resonated strongly with employees, customers, investors, communities, and governments.

5. Schneider Electric SE

Establishment: 1836
Headquarters: Le Creusot, France


Schneider Electric SE is a French multinational company that specializes in energy management and automation solutions. The company's products and services include electrical distribution, building automation, data center infrastructure, renewable energy solutions, and industrial automation. It also offers numerous solutions for homes, buildings, data centers, infrastructure, and industries. It has been known for its innovation in the field of energy management and automation, such as the introduction of EcoStruxure, Edge Computing, Microgrids and Smart Home Solutions. Apart from this, the company has set targets to increase the representation of women in leadership positions and has established Employee Resource Groups (ERGs) to support underrepresented groups and conducts regular human rights assessments to identify and address potential human rights issues.

6. Tado GmbH

Establishment: 2011
Headquarters: Munich, Germany


Tado GmbH is a German company that specializes in developing smart thermostat solutions for home heating and cooling systems. Its solutions allow users to control their heating and cooling systems from their smartphones or other internet-connected devices. The company's products use sensors and machine learning algorithms to automatically adjust the temperature based on user preferences and the weather outside. The company has received numerous awards for its innovative solutions, including being named the European Smart Home Product of the Year and recognized for its commitment to sustainability and energy efficiency, with its products receiving the highest energy efficiency ratings from organizations, including the Energy Saving Trust and the European Union.

7. Control4 Corporation

Establishment: 2003
Headquarters: Utah, United States


Control4 Corporation offers a range of products and services that enable homeowners to control and automate various aspects of their homes, including lighting, climate control, entertainment systems, and security. Its products include smart home controllers, touch screens, keypads, sensors, and other devices. Control4 also offers a range of software and cloud-based services to manage and monitor smart homes remotely. The company has established a matching gift program that doubles employee donations to eligible charities, and it regularly sponsors and participates in community events and initiatives. It has also designed its products with energy efficiency in mind, enabling homeowners to reduce their energy consumption and carbon footprint.

8. Carrier Corporation

Establishment: 1915
Headquarters:  Connecticut, United States


Carrier Corporation is an American company that specializes in HVAC (heating, ventilation, and air conditioning) and refrigeration solutions. It provides a range of products and services for both residential and commercial customers, including air conditioners, heat pumps, furnaces, boilers and refrigeration systems. The company has been named a World's Most Admired Company by Fortune magazine and has received awards for its sustainability and environmental initiatives. Additionally, it has established a foundation that supports education, disaster relief, and other community initiatives, and it provides employees with opportunities to volunteer and participate in community service projects. The company has also implemented recycling and waste reduction programs at its facilities worldwide.

9. Nortek, Inc.

Establishment: 1967
Headquarters: Rhode Island, United States


Nortek, Inc. is committed to innovation and has a long history of developing cutting-edge products for its customers. It offers a range of heating and cooling solutions, including air conditioners, heat pumps, furnaces, large-scale cooling and ventilation systems, cameras, alarms, intercom systems and home automation and control systems that allow customers to control various aspects of their homes from a single platform. The company is also committed to corporate social responsibility (CSR) and established a code of conduct that outlines its expectations for ethical behavior and has implemented training programs to ensure that all employees understand and adhere to these standards. It has implemented sustainable building practices at its facilities, including using energy-efficient building materials, installing solar panels, and incorporating green roofs and rain gardens to manage stormwater runoff.

About Author:

Aditi Kumar 

Senior Content Writer at IMARC Services Private Limited   

Aditi is a content writer and editor at IMARC Services Private Limited with over two years of experience in market research, covering diverse sectors from information technology to healthcare, automotive, oil and gas, food and beverage, and electronics. She actively works on numerous predictive and exploratory research projects and has hands-on experience analyzing and writing about macro and micro markets. Besides writing, Aditi loves baking and reading novels.


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