Smart Home Hardware and Services Revenue Set for a Steep Growth

Pratibha Nanduri for ReadITQuick:  Market research company Juniper Research, has released its latest report titled “Smart Home Markets: Entertainment, Monitoring, Automation, Health, Metering, Appliances 2017-2021.” The report on the research predicts that the market is slated for a steep growth from $83 billion in 2017 to $195 billion by 2021. The smart home market is a fast-moving one driven by Internet of Things (IoT) technologies like monitoring, smart automation and energy management services, required in consumer homes.

Segment Evaluation

The main segments driving this growth will be healthcare, automation, entertainment and connected devices.

The smart appliances and home automation segment would be the fastest growing one during the forecast period with big companies like Samsung, Bosch and GE Appliances driving the growth.

The revenue from the entertainment segment is expected to slow down due to increased use of home automation and smart appliances in emerging markets.

In the connected services segment, the market share of Amazon and Netflix would fall from 70% in 2017 to 50% in 2021.  Cont'd...

Comments (1)

SKEPTICISM – The over-hyped Smart Home market continues to take two steps forward and one step back as it struggles to cross the chasm between early adopter and mainstream adoption. This is especially clear when viewing video demos from CES 2016 and the 1957 World’s Fair. Sadly, none of the companies mentioned seem to truly understand what it will take, although they keep inching closer with wireless setup, remote smartphone access, and voice control. But as the linked article suggests, there are still many unaddressed issues. (http://www.mhealthtalk.com/elusive-smart-home/). ADVICE – Market Research can be biased and short-lived, so before you buy any expensive research reports, make sure you get a chance to interview the authors personally so you understand their assumptions, research process, and what shaped their conclusions. Make sure they aren’t just extrapolating trends but also include thoughtful discussion of market drivers, inhibitors and enablers, because you’ll need that insight to craft your strategies. (http://www.mhealthtalk.com/evaluating-market-research/)

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