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.
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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