POST Online Media Lite Edition



 

Global consumer smart home spending to grow to $158 billion

Staff Writer |
Strategy Analytics released its "State of the Smart Home Market: 1Q 2017" report citing a period of competitive turbulence as new vendors vie for position in the burgeoning market.

Article continues below






Business models are in flux as service providers seek sustainable revenues other than for security monitoring and smart home platforms are seen as critical for differentiation.

To maintain control of key features and enhancements some firms have built platforms in-house (e.g., Lowe's, Vivint) or acquired platform developers (AT&T, British Gas, Eneco); others such as Dixons Carphone, Telefonica, KPN, O2, Orange and Securitas have licensed platforms from Zonoff , Huawei, Qivicon, AT&T, MiOS and Alarm.com respectively.

Business models monetizing data collected by smart home devices will emerge.

Bluetooth Mesh emerges and coupled with Bluetooth 5 capabilities threatens ZigBee, Z-Wave and Thread.

The move away from the smartphone as the primary interface for the home will continue in 2017.

Consumer spending on smart home services will nearly triple on a global basis from $17 billion in 2016 to $50 billion in 2022.


What to read next

Consumers see promise, but not yet ready for smart home
Cloud-connected smart homes to create $28 billion market
Internet of Everything to reach $7,130.4 billion