Annual Revenue for Communicating and Smart Thermostats is Expected to Reach $4.4 Billion in 2025, According to Navigant Research
An array of distribution channels is helping to drive the market for advanced thermostats, report finds
Robert S. Marshall for TechCrunch: Attendees of the Consumer Electronics Show in Las Vegas this year were confronted with a head-spinning volume of smart-home devices. From $5,000 refrigerators that can communicate when you’re running low on milk and eggs, to the ability to control lights, locks and thermostats from your mobile app or TV screen, these products and technologies all show very nicely — until the point when consumers are left to calculate when their smart-home investments will translate into cost savings, energy efficiency and enhanced convenience. Really smart companies and entrepreneurs have built impressive pieces of the smart-home puzzle, but these pieces have not been connected yet in a way that has, to date, empowered a smarter consumer. Parks Associates home energy management data released in March 2016 show 70 percent of households with smart-energy devices report saving money due to reduced energy consumption. However, the research firm noted challenges for vendors selling smart-energy devices based on cost savings, as 83 percent of U.S. broadband households do not know the price they are paying for electricity. Cont'd...
Most Users Unaware of Public Access
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Changes in Manufacturing, with Emphasis on China, Highlight 2016 Global Technology Predictions from IHS Analysts
Innovations in nearly every sector are setting the stage for technology market growth and even more rapid change in 2016.
By: Joseph Palenchar for Twice: Smart-home technology is used by 21 percent of all U.S. households, and another 36 percent are viable future customers, a Strategy Analytics analysis concluded. The research and consulting company also surveyed online households about what they’d be willing to pay for and found the list topped by devices that allow for remote or automatic water shut-off if a leak is detected. That’s followed by devices that automatically adjust lights and thermostats based on who is home, a panic-button feature that turns on all lights in the house, remote monitoring and control of door locks, and motion-sensing camera s with visual notification. Cont'd...
Zion Research has published a new report titled “Home Automation (Luxury, Mainstream, DIY (Do It Yourself) and Managed) Market by Networking Technology (Wired, Power-line, Computing Network and Wireless) for Lighting, Safety and security, HVAC, Entertainment and Other (Robotics and Heath care) Applications – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020”. 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. Home automation is the residential extension of building automation. Home automation is all about automation of the home and household activity. Key aspects involved in home automation includes centralized control of lighting, HVAC (heating, ventilation and air conditioning), appliances, security locks of gates and doors and other systems, to provide improved convenience, comfort, energy efficiency and security. Home automation for the elderly and disabled can provide increased quality of life for persons who might otherwise depends upon someone else for their day to day activity. Cont'd...
A new Parks Associates report finds smart home offerings have helped revitalize the residential security industry, as the number of households with monitored security rose over 15% in the past two calendar years. The New Face of Home Security - 2015 Edition reports approximately 21 million U.S. homes have professionally monitored security, with another 1.5 million with monitoring in a second home. "By the end of 2015, nearly six million professionally monitored homes will also have smart home control as part of their security system," said Tom Kerber, Director, Research, Home Controls & Energy, Parks Associates. "Smart home is firmly entrenched as part the U.S. security industry, thanks to both push and pull factors. Companies such as Vivint, AT&T, and ADT have been aggressive in offering smart home features with their systems, while security owners are open to new technologies. Security households are 150% more likely than non-security households to state that they keep up with technological innovations and like to own the latest devices." Full Press Release.
New GfK research shows that half of US consumers believe smart home technology will have a major impact on their lives – a higher level than wearables or cloud computing and equal to mobile payment systems. The study, which covered seven countries, asked consumers to choose which of 11 leading-edge technologies – from 3D printing to augmented/virtual reality to Internet of Things -- would be important to their lives. (Respondents could choose as many technologies as they wished.) In the US, 51 percent of consumers picked smart home, versus 50% for mobile payments – a statistical tie; these compare to global levels of 54% for mobile payments and 51% for smart home. (The global figures cited here represent five of the seven countries in the full survey – US, UK, Germany, Brazil, and South Korea; data for China and Japan will be released later.) Four in ten (42%) US consumers cited wearables – significantly higher than the global score of 33% -- while cloud computing came in at 41%. Full Press Release:
Today, Iris by Lowe's released the results of its annual Smart Home Survey, revealing that when it comes to shopping for smart home products, home improvement stores (either in-store or online) were rated the No. 1 place Americans are most likely to buy. When asked why they would choose a home improvement store, most say it's because it is a retailer they can trust (55 percent) that has knowledgeable staff (40 percent) and a variety of available products (48 percent). The 2015 Smart Home Survey, conducted online in August by Harris Poll on behalf of Iris, Lowe's Smart Home Business Unit, polled more than 2,000 U.S. adults aged 18+ and examined Americans' attitudes toward and experiences with smart home products, homing in on the driving factors behind their purchasing and use preferences. Results from this year's study indicate that when it comes to purchasing considerations, cost of equipment and monthly fees as a deciding factor has decreased (down from 56 percent in 2014), though it's still the most commonly cited (43 percent). Ease of use is the second most important deciding factor (19 percent, up from 13 percent in 2014), followed by energy and efficiency features (15 percent) such as home temperature control and automated lighting. Full Press Release:
Parks Associates: Smart home devices and systems will prompt over 7 million support requests in 2015
New research highlights impact of IoT on broadband households and privacy concerns among connected consumers
Retail channel accounts for largest percentage of units sold, underscoring need for interoperability across IoT devices
Icontrol Networks Announces Cloud Analytics Initiative to Bring Automated Intelligence to Smart Home Platforms
Partners with mnubo to bring new level of convenience via automatic learning
The home audio market (wireless speakers, soundbars, Hi-Fi systems, A/V receivers and speaker docks) grew by 22% to ship 71 million units. Trade value also grew by 22%, generating just under US$10 billion worth of revenues in 2014, according to Futuresource Consulting. Wireless speakers and soundbar shipments exceeded market expectations and accounted for the lion's share, far outweighing the decline in demand for traditional audio devices i.e. A/V receivers and Hi-Fi systems. The wireless speaker market was fuelled by strong growth in Bluetooth speakers in the lower end of the price spectrum and multi-room audio at the premium end. Home audio devices increasingly offer wireless functionality and shipments with this feature grew by 93% from 27 million units in 2013 to 53 million units in 2014. Futuresource said it predicts that virtually all home audio devices will be wireless by 2019.
Parks Associates Report Smart Home Platforms for Health Addresses Connected Health and IoT Opportunities for the Smart Home
Research firm notes investments in connected health likely to increase following Supreme Court decision
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