Measuring Heat Levels
In the ever-evolving world of smart home technology, Ecobee, a Canadian-based company founded by Stuart Lombard in 2007, is making waves in the smart thermostat market. Ecobee is not content with standing still and is developing Ecobee to monitor and control electric vehicles and energy storage systems connected to homes.
Ecobee3, the company's flagship product, is a smart thermostat certified to work with Apple HomeKit, offering users the convenience of voice commands through Siri. In 2015, Apple decided to go exclusively with Ecobee3, dumping Nest from its stores.
Despite Ecobee's innovative strides, Honeywell and Nest continue to maintain the leading market shares and consumer preference in 2025. Honeywell controls roughly 13% of the global smart HVAC controls market share, while Nest has around 11%. Although Ecobee is recognised as one of the top brands alongside Nest and Honeywell Home (Resideo), it has not significantly gained market share from these leaders, according to Parks Associates' recent assessment.
Ecobee3 ships with a wireless sensor that can be placed in any room, unlike other home thermostats that only measure temperature in a single location. This feature allows for a more accurate temperature reading and energy management across the home. Up to 32 sensors can be added to Ecobee3 to fine-tune comfort, particularly in larger homes.
The average Ecobee user reduces energy consumed for home cooling and heating by 23%. This energy-saving feature has helped Ecobee's customers save an estimated one terawatt hour of power. Ecobee continues to develop partnerships with major utilities and position its thermostat as a way for homeowners to participate in demand-response programs.
Ecobee has also launched its free Home IQ service, which gives homeowners detailed insights into energy usage and home efficiency. The company has a public API, allowing anyone to develop their own app to add value and choice to the Ecobee app.
Despite the fierce competition, Ecobee has surpassed Honeywell to become the second-best selling Internet-connected thermostat in the United States. With a growing market for smart thermostats, expected to reach over $15 billion by 2033, Ecobee is poised to continue challenging the market leaders in the years to come.
References:
- Smart Home Market Report
- Parks Associates: Smart Thermostats
- MarketsandMarkets: Smart Thermostats Market
- Zion Market Research: Smart Thermostats Market
- The entrepreneur, Stuart Lombard, continues to push the boundaries of finance and technology with Ecobee, developing it to control electric vehicles and energy storage systems, expanding beyond the smart thermostat market.
- In the realm of personal-finance and energy-management, Ecobee3's innovative features, such as voice commands, wireless sensors, and demand-response programs, have helped homeowners save an estimated one terawatt hour of power.
- Although Ecobee has made noticeable strides in the smart-home-devices market, it is still playing catch-up with market leaders Honeywell and Nest, who control significant portions of the global smart HVAC controls market share in 2025.
- Recognizing the potential of Ecobee in the business of technology and smart homes, major utilities have formed partnerships with the company, offering more opportunities for users to invest in energy-efficient solutions and real-estate.
