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The Smart Home: An Era of New Opportunities

  • ID: 4229065
  • Report
  • April 2017
  • Region: Global
  • 23 pages
  • Euromonitor International
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The household is transforming into a digital ecosystem, within which consumers are creating their own channels. As new technology is being adopted, the smart home is becoming a reality that can be a platform for brands and thought-leaders. This Strategy Briefing aims to demonstrate the current progression of the smart-home market, its drivers, challenges, opportunities and use cases. Although it remains in infancy, the sector already has plenty of success and failure stories.

Strategy Briefings offer unique insight into emerging trends world-wide. Aimed squarely at strategists and planners, they draw on The vast information resources to give top line insight across markets and within consumer segments. Written by some of our most experienced analysts, they are designed as provocations for senior management to use in their own forum, allowing them to stand back and reflect on the behaviour and motivation driving global markets today and tomorrow

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?
  • Identify factors driving change now and in the future
  • Understand motivation
  • Forward-looking outlook
  • Briefings and presentation should provoke lively discussion at senior level
  • Take a step back from micro trends
  • Get up to date estimates and comment
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1. Introduction

  • Scope
  • Key findings
  • The smart home drivers of today’s digital household
  • The smart home: An attractive business proposition
  • More than half of the world’s homes are smart-ready

2. The Gateway Product

  • The voice-controlled home hub has become a mainstream device
  • Why are home hubs a hit with households?
  • What spin-off segments is the home speaker driving?

3. Smart Audiences and How to Reach Them

  • The seniors segment: Late but wide-scale adopters
  • Millennials: Convenience, affordability and efficiency wanted
  • Kids: New markets in parental controls and education

4. Success and Failure Case Studies

  • Success: Multi-tasking appliances provide kitchen comfort
  • Failure: Five factors halted the wearable-tech revolution
  • Success: Smart subscription services suit consumers

5. Conclusion

  • The smart hub voice revolution has arrived
  • Opportunities for smart-home target markets
  • It’s vital to understand the successes and failures
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Smart technologies are evolving across all segments

Tech affordability and wide use is driving consumer demand for greater technology features, including smart TVs, energy-saving devices and connected cars. Homes are buying more domestic appliances, such as fridges, air conditioners and microwaves, which are creating opportunities for companies to provide smart-home services and upsell smarter durables.

The smartphone is the smart-world catalyst

The smartphone offers the blueprint for a remote controlled smart ecosystem, with its strength being is its high penetration rate, reach and easy access to smart-home apps. It acts as a catalyst between the user and smart systems, whether in the home, the vehicle or at work.

Smart homes are edging to mainstream reality

Rising internet usage, smartphone penetration, and domestic appliance sales globally will enable more homes to become smart, while the general rise in IT literacy in emerging markets will enhance accessibility to products. The entry of several major digital brands into the market is expected to further strengthen visibility and awareness of smart-home offerings.

Consumers are driving demand for smart cars

Smart cars, which are vehicles with a high-speed, broadband internet connection and digital add-on features, are regarded as the next frontier in the consumer entertainment space.

A successful smart product must bring value

Wearables failed to bring value to consumers, essentially offering the same functions as a smartphone. By contrast, multi-tasking kitchen appliances and smart mosquito-repellent devices are filling existing demand gaps, giving consumers a rational reason to make a purchase.

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