Skip to main content

Smart Home Revenue will Reach $195 Billion in 2021

Ever since the mainstream adoption of the mobile smartphone, the word 'smart' is used broadly to define any device that has some form of on-board communication connectivity. Likewise, a Smart Home is designed to deliver a number of digital services inside and outside the home, through a range of networked devices.

Juniper Research believes the entertainment segment to be the most viable in terms of consumer uptake, for the simple reason that these services are almost universally desired.

Revenues from smart home hardware and services will reach $83 billion this year, rising to $195 billion by 2021, according to the latest market study by Juniper Research. This revenue upside will be generated through entertainment, automation, healthcare and connected devices.


Smart Home Market Development

The new research also found that home automation and smart appliances will be the two fastest growing segments over the next 5 years, driven by established manufacturers such as Samsung, Bosch and GE Appliances.

Moreover, market leaders such as Alphabet, Amazon, Apple and Samsung will further solidify their position by building on current assets in their cloud services and incumbent device bases.

Juniper believes Amazon's innovative approach, use of cloud services through 'Amazon Alexa', and its ability to capitalize on its eCommerce presence gives the company a leading position in this emerging marketplace.

"The company has managed to maximize its value proposition for Alexa by partnering with a large range of complementary players in the market, while utilizing its own cloud platform to set Echo and Alexa apart from its competitors in terms of functionality," said Sam Barker, research analyst at Juniper Research.

Outlook for Smart Home Applications

The research found that revenue share from the most mature segment, smart entertainment, will slow as emerging market segments such as smart appliances and home automation gain more traction.

The share from connected services, such as Netflix and Amazon, are set to fall from 70 percent of the total market in 2017 to about 50 percent in 2021.

Meanwhile, growing market segments such as Monitoring & Automation will be driven by disruptive entrants -- such as littleBits, Notion and iVee -- who will rival established players by taking novel approaches to product development.

Popular posts from this blog

Mobility-as-a-Service Creates Disruptive Travel Options

Building on significant advances in big data, analytics, and the Internet of Things (IoT), more innovative transit service offerings aim to increase public transport ridership and reduce emissions or congestion within metropolitan areas. By providing these services through smartphone apps, the transit services also significantly increase user convenience, providing information on different human mobility offerings -- including public transport, ridesharing, and autonomous vehicles. Mobility-as-a-Service Market Development According to the latest market study by Juniper Research, Mobility-as-a-Service (MaaS) subscribers will generate $53 billion in revenue for MaaS platform providers by 2027 -- that's rising from $5.3 billion in 2021. Let's start with a basic definition. MaaS is the provision of multi-modal end-to-end travel services through single platforms, by which users can determine an optimal route and price. The study identified a monthly subscription model as key to incr

Robocall Mitigation Solutions to Halt Criminal Threats

If you answer the phone and hear a recorded message instead of a live person, it's likely a robocall. A robocall is a phone call that uses a computerized autodialer to deliver a pre-recorded message. In 2020, the U.S. Federal Trade Commission (FTC) received 2.8 million consumer complaints about robocalls. Offering solutions to robocalling and associated fraudulent business practices, computerized mitigation platforms are an integral part of the solution. Platforms that are focused on actionable systems to disrupt unsolicited and potentially criminal phone calls help telecom service providers and industry regulators. Issues of whether one-size-fits-all developments are sufficient to be effective across the spectrum need to be addressed, and whether a single telecom network operator working unilaterally with a third-party platform could compromise desired or mandatory industry-wide standards. Robocall Mitigation Market Development According to the latest worldwide market study by Jun

Secure Digital Workspace Apps Enable the Future Enterprise

In early 2020, as the world responded to the COVID-19 pandemic disruption, many organizations were forced to rapidly transform their communications networks and IT infrastructure to support an unprecedented shift to remote work. Before the pandemic, approximately 38 percent of employees were remote full-time or had a flexible work arrangement where they split time between home and office locations. During the pandemic, the percentage of remote workers that CIOs had to support reached almost 72 percent. Future Enterprise Technology Market Development Enterprise leaders have been forced to adapt to a new state, shifting from traditional office-based operations to distributed workforce environments that must still provide the same level of connectivity, security, and efficiency across the organization. According to the latest worldwide market study by International Data Corporation (IDC), addressing connectivity across geographies and transforming networks to become more virtual and agile