This paper provides an overall assessment of the current status of the smart home market.
The research revolves around six key axes:
- The research will provide a definition of smart home and its components. That definition will be then used to explore the current smart home solutions available in the market place.
- The report will discuss the state of adoption of smart home solutions. That will be done through an assessment of the current adopters. The research will then propose a view on the groups of adopters that will drive the growth of the smart home market.
- The research will explore the dynamics of the smart home market highlighting key barriers and drivers for the growth of the market.
- The report will also assess the smart home value chain describing the key stakeholders and their opportunities.
- The paper will also analyse existing business models and provide a views on new potential ones.
- Finally, the report will analyse future directions of the smart home market.
The report is structured in six chapters, each of them discussing the six points discussed previously.
The business and academic literature in smart home is very rich. This reflects the relevancy of the topic in the current Internet of Things (IoT) landscape. The research team has widely explored that literature. In addition to that, the team has assessed key market players in the smart home market.
The secondary research has the base for an extensive primary research exercise. The research team has discussed the topic with various stakeholders such as mobile network operators, smart home solutions providers, smart home device manufacturers, smart home focussed start-ups and independent experts in the field.
The information gathered through primary and secondary research methods has then been analysed in order to answer the six objectives of the research as described in the previous paragraph. The quantitative assessment of the smart home market has also been possible because of existing forecasts run by the publisher in the area of connected devices.
Defining the Smart Home Concept
Over the past few years the uptake of broadband services in both fixed and mobile segment continues to grow encouraging the adoption of different types of connected devices. This phenomenon has also been driven by the large use of smartphones and the popularity of tablets and phablets. Consumers are simply becoming increasing familiar and confident with new digital technologies.
In light of all this, connected devices for the home environments that have not seen a significant upgrade during last decade: smart utility meters, smart thermostats, connected security cameras and others are becoming more familiar to home owners. The overall idea that those devices should facilitate home operations, improve understanding of home resource consumption and enable new living habit and style.
In general terms, the connected smart home consists of a number of devices designed as add-ons of existing home appliances or as new home elements. They use wireless or wired transmitters and receivers, which enable them to communicate with each other and to the main hub. The single devices or the hub can communicate with the home owner via a handheld or wearable device.
The resident then has the ability to remotely control the devices, but also to understand the use of resources and take initiatives in order to change the behaviour of the system. This is possible because of specific data-centric applications running on the hand-held device.
The concept of smart home is not new. In the past, it was known as home automation or domotics. However, the level of adoption was very limited and the solutions were limited by the level of technology development. Very tech savvy consumers adopted home automation solutions. In some case, luxury homes were built with pre-installed home automation solutions. Over the last few years, enabling technologies have been changing very rapidly allowing development of sophisticated products at a more acceptable price. Additionally, a lot of activities that only yesterday were seen as impossible, are now seen as part of our everyday life. For instance, long-distance video-call over the Internet is a common way of communicating.
Digital technologies are continuously offering new ways of shaping people’s lives, and people are increasingly more receptive in engaging with these new forms. Those two factors, the technological development and a strong digital culture, are good conditions for moving the concept of smart home from niche to mass market.
1. Introduction – Research Objectives and Methodology
2. Dynamics of Adoption
3. Smart Home Market Dynamics
4. Drivers to Adoption
5. Barriers to Smart Home Adoption
6. Smart Home Market Value Chain
7. Smart Home Business Models
8. Future Directions of the Smart Home Market
9. Smart Home Security:
- Where’s the commercial opportunity?
- The Smart Home
- IoT Threats in the Home
- Smart Home Security Guidelines
- Turning Opportunity into Revenues
- Organisations and Consortia
- Allseen Alliance
- Eneco Toon
- Home Gateway Initiative
- Limelight Automation
- Pacific Foresight Security
- Premier Technology Group
- Residential Systems Inc. (RSI)
- Thread Group
- Verizon Wireless
- Z-Wave Alliance