Smart home market primer
The report looks at 6 major factors driving the smart home market / home automation market:
- Rising market demand Expected to more than double in 5 years
- Strong company activity Big push by well-known multi-nationals like Google or Apple
- Emerging company hubs Smart home company clusters e.g., in San Francisco
- Strong startup funding Total funding of smart home startups now exceeds $3bn
- New business cases Smart home now all over the house and in the garden
- Maturing technology Becoming integrated, smarter, cheaper
Smart home market primer: Introduction
Smart Home is currently leading the emergence of the Internet of Things.
Connected thermostats, smart fridges, remote-controlled lights, and other products promise to revolutionize our home experience over the coming years.
This report looks at the driving forces of the Smart Home market: Demand, supply, technology, investments
1. Market demand
Smart homes have been a niche phenomenon for years. Remote control of entertainment systems, lights, and heating used to be limited to luxury apartments and hotels. We are currently however at the inflection point where smart homes are so attractive to the wider public that they are becoming a mass market phenomenon. The worldwide demand for smart home systems is expected to more than double in 5 years to …