The firm's consumer research has detailed a shift in smart home purchase behaviors in the past year as retail is now the most common purchase channel for smart home products.
According to the report, global home automation market was valued at around USD 5.0 billion in 2014 and is expected to reach USD 21.0 billion in 2020, growing at a CAGR of around 25% between 2015 and 2020.
VCs and Investors to address IoT investment and growth opportunities at 21st-annual CONNECTIONS Conference, May 23-25 in San Francisco
Nicholas Shields for Business Insider: The same issues BI Intelligence first identified back in 2015 still plague the space - persistently high prices, technological fragmentation, and consumers' lack of a perceived benefit from the devices.
Rene Millman for Internet of Business: Smart home consumers can be divided into seven segments, according to new research from market analyst firm Strategy Analytics.
Benchmark report from PlumChoice and Z-Wave Alliance shows consumers got 'smarter' in 2016, examines individual device interest
Sheri Kasprzak for PDDNet: Smart homes are the wave of the future. That future could include more than 4 billion smart home sensors installed in homes around the world by 2022, according to ABI Research, a technology market research firm.
Tom Bryant for PCMag: Americans like the idea of smart homes, but when it comes to actually paying the bill for stuffing their houses and apartments with futuristic Internet of Things (IoT) tech and devices, they balk. Just 27 percent of Americans have purchased a connected home device, although 71 would appreciate the ability to monitor their home while they're away, according to a survey of 2,177 adults commissioned by home automation company Wink.
More Than 80 Percent of Insurance Carriers Believe Leveraging Smart Home and IoT Technology Will Attract New Customers and Improve Customer Relationships
NTT DATA study finds a carrier-consumer perception gap; Market unknowns and pricing barriers may stand in the way of Smart Home adoption
Disruptive Forces in the Home Security Market highlights trends in security industry ahead of ISC West
Parks Associates: Security research from Parks Associates shows that adoption of interactive services among U.S. households with professional security monitoring has experienced a 50% CAGR from 2011 to 2016, reaching more than 8.3 million U.S. households. Adoption of interactive security services, such as monitoring through an app and mobile control, will grow at an estimated 13% CAGR from 2016 to 2021, according to Parks Associates' forecasts from Home Security NUMBERS™.
A new report from Juniper Research forecasts that smart home automation and monitoring devices will grow to over 770 million globally by 2021, representing an eleven-fold rise from just 68 million estimated in 2016. The new research, Smart Home Markets: Entertainment, Monitoring, Automation, Health, Metering, Appliances 2017-2021, found that increasing adoption of platform evangelism and openness to partnerships is boosting third party development of devices, especially in developed markets. Indeed, North America, Far East & China and West Europe will account for almost 75% of all households adopting the technology in 2021. Subscription Services Lose Traction, Cont'd...
A new report from Juniper Research forecasts that smart home automation and monitoring devices will grow to over 770 million globally by 2021, representing an eleven-fold rise from just 68 million estimated in 2016.
According to global information provider, The NPD Group, annual 2016 U.S. dollar sales of home automation products experienced growth of 57 percent versus 2015. Security and monitoring products continued to lead the category, making-up over 60 percent of dollar share. Smart entry devices, such as smart doorbells, saw an increase in dollar and unit sales of 171 percent and 206 percent, respectively, when compared to the year prior, according to NPD's Retail Tracking Service. While awareness levels of many smart home devices have fluctuated, smart doorbells are an item within the smart entry space that saw growing awareness and ownership. Smart doorbell awareness increased four percentage points, and ownership increased two percentage points, according to the Connected Home Automation Report from NPD's Connected Intelligence. Networked video cameras continue to be the most common component of today's smart home, as nearly one-third of smart homes have this feature installed. In fact, over the last year consumer demand for multi-packs of IP cameras has increased 129 percent in U.S. dollar sales versus 2015*. Full Press Release:
Will Koblensky for Insurance Business: A combination of consumer demand and industry interest could create a wave of smart home technology and IoT disruption for home insurers in the near future. According to an NTT Data report, 59% of surveyed home carriers say they’re making “strong progress” adding smart home technology to their coverage while 77% of those carriers are ramping up IoT initiatives. “We know that there aren’t that many products already out there, so these are initiatives designed to get them into the game,” Normand Lepine, insurance data and analytics lead for NTT DATA said. “We believe a lot of what’s going on right now is around strategy, potentially infrastructure. There are still a lot of challenges and they (carriers) know that. Until they really understand how this is going to be beneficial, they’re still going to go slowly.” Cont'd...
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...
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Smart Bulbs are out there and they can do far more then just provide light. Speakers, projectors, wi-fi extenders and more. The standard light socket that is wired up and ready to go in nearly every home in North America is now providing an easy and affordable option for home owners and renters alike to enter into the world of the "Smart Home". Here is a look at some of the Smart Bulbs and Smart Lighting options out there, and this list is just the beginning. In this ongoing article we hope to continue to add to and grow this list, so stay tuned!