Future of Connected Living

Future of Connected Living

The Top 3 Connectivity Ecosystems that will Simplify Human Lives—Homes, Cities, and Workplaces

RELEASE DATE
02-Feb-2021
REGION
Global
Research Code: K4AC-01-00-00-00
SKU: CI00736-GL-MT_25162

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Description

With more than 20 connected devices per human by 2030, we are rapidly moving to an environment that is permanently online and always connected. An increasingly digitalized and connected world will have a profound impact on a wide range of applications at home, at work, across cities, and several other use-cases (healthcare and automotive, for example). With such high levels of hyperconnectivity, consumers will expect a fluid, personalized, and unified experience, which can only be achieved when connected devices, data flows, and networks work in perfect harmony. This connected consumer experience is no easy task for any organization to fulfill; it will require a culture of creativity, engagement, and disciplined innovation.

This Frost & Sullivan study outlines the evolution of connected living across 3 major connectivity environments – connected cities, connected homes, and connected workplaces. The convergence of these environments will result in ubiquitous connectivity and the emergence of new product applications, business models, technologies, platforms, and services.

Connected Cities: Smart cities will drive the focus on connected and data-driven infrastructure, which will lead to higher adoption of technologies such as artificial intelligence (AI) and 5G. Smart cities’ spending on technology – over the next 6 years - is expected to grow at a compound annual growth rate (CAGR) of 22.7% and reach $327 billion by 2025. In a post-pandemic (COVID-19) world, cities will increasingly rely on online city services and open data platforms. For instance, more than 99% of Estonian public services are digitalized, making local services easily accessible, predictive, and effective for residents. In the long term, connected cities will integrate all aspects of human life; connected cars will act as conduits to fulfill city needs and connected physical infrastructure will constantly communicate with vehicles and other transit solutions. Ultimately, connectivity will also provide cities with an opportunity to connect marginalized communities and build an inclusive society.

Connected Homes: The home of the future will become the central hub for connected living. The COVID-19 pandemic has accelerated the need for homes to evolve into on-demand workspaces, entertainment centers, fitness spaces, and telehealth centers. AI, augmented and virtual reality (AR/VR), advanced computing, and data analytics will enable a personalized user experience. The connected home of the future will anticipate resident behavior and adjust the home environment accordingly. Seamless connectivity will also facilitate the standardization of platforms across the intelligent device ecosystem. With the ongoing shift in energy prosumerism, homes will also transform into smart energy generation and transmission hubs.

Connected Workspaces: Telecommuting by employees has grown by 115% over the past 10 years. The COVID-19 pandemic has reinforced the need for workplace connectivity. Zoom, one of the largest beneficiaries of the pandemic, recorded more than a 300% increase in revenue during 2019-2020. By 2030, around 75% of office workers, especially those working for large corporations, could move to remote work. Inter-connected hubs, digital reality solutions, and growth in unified communication and collaborative services will narrow the gap between physical and digital workplaces. IoT, automation, data analytics, and AR solutions will empower the connected worker of the future. In addition, the vision of a connected enterprise ecosystem will allow companies to build a unified strategy to predict, prepare for, and overcome challenges.

Connectivity is rapidly transforming the business landscape, with new value chain partnerships, product innovation, and new business models reshaping market dynamics every day. To survive in a hyper-connected era, companies must ensure that their products and services are not only connected but also intuitive, conversant, and intelligent. For incumbents, service differentiation and strategic partnerships with technology leaders to build a broader connected ecosystem are key to thrive and sustain growth.

Key Issues Addressed

  • What will a hyper-connected world look like in 2030? What are the key factors driving it?
  • What are the key transformations in connected homes, cities, and workspaces that will impact businesses and personal lives?
  • What are the top growth opportunities to watch out for in the next decade?
  • What are the critical success factors for growth for businesses operating in this space?

Author: Vinay Venkatesan

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
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Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on Connected Living

Growth Opportunities Fuel the Growth Pipeline Engine™

Key Findings

Growth Opportunities Critical to Future Success

Connected Living Environment—An Overview

Connected Living Environment—An Overview (continued)

An Era of Hyperconnectivity and Hyperpersonalization

The Emergence of a World with Zero Latency

Zero-latency World—Convergence of 5G and Wi-Fi 6

A Connected World and Threats to Data Privacy

Connected Social Robotics Networks

A Day in the Connected Life in 2030—Use-case Profiles

Connected Living—Key Growth Drivers

Connected Living—Key Growth Restraints

Connected Cities—The Framework

Connected Cities

Trend 1—Seamless Interoperability Between Connected Vehicles, Maas Solutions, and City Infrastructure

Trend 2—Connected Cars as Conduits to Meet City Needs

Trend 2—Connected Cars as Conduits to Meet City Needs (continued)

Trend 3—Open Government Data that Responds to City Needs

Trend 4—Adaptive and Connected City Infrastructure that Responds to City Needs

Trend 5—Resilient and Connected Cities Monitoring Disaster Probabilities and Supplying Information to Citizens—Use Cases

Trend 6—Self-Sufficient Cities with Smart City Logistics Solutions

Trend 7—Bridging the Digital Divide with Marginalized Communities

Trend 8—Surveillance and ‘Data’veillance for City Safety

Trend 9—Connected Grids of the Future

Connected Homes—An Overview

Connected Homes—The Framework

Connected Homes—Growth Opportunities

Connected Homes

Trend 1—Experience-Rich Homes to Anticipate Resident Needs and Behave Proactively

Trend 2—Socially and Contextually Aware Robots as Intelligent Companions

Trend 3—Adaptive Home Environments

Trend 4—Virtual Guardians

Trend 4—Virtual Guardians (continued)

Trend 5—Personalization

Trend 6—Homes as Hubs for Free Time

Trend 7—Home Health Solutions

Trend 8—Self-sufficient Energy-generating Homes

Connected Work—An Overview

Connected Work

Trend 1—Narrowing the Gap Between Physical Workspaces and Digital Workspaces

Trend 1—Narrowing the Gap Between Physical Workspaces and Digital Workspaces (Regional Overview—The United States)

Trend 2—The Connected Enterprise Ecosystem

Trend 3—End-to-End Connected Work Platforms

Trend 4—Cloud-to-Edge Data Distribution

Trend 5—Key Technologies Driving Connected Work

Trend 6—The Connected Worker of The Future

Trend 7—Human to Machine Collaboration

Trend 8—Lights-out Automation

Trend 9—Future Cyber Human Workforce

Growth Opportunity Levers

Growth Opportunity 1: Digital Workflows

Growth Opportunity 1: Digital Workflows (continued)

Growth Opportunity 2: Connected Services Ecosystem

Growth Opportunity 2: Connected Services Ecosystem (continued)

Growth Opportunity 3: Internet of Homes

Growth Opportunity 3: Internet of Homes (continued)

Growth Opportunity 4: Multi-sided Platform Orchestrators

Growth Opportunity 4: Multi-sided Platform Orchestrators (continued)

Critical Success Factors for Growth

Conclusions—The Way Forward

Identifying Your Company’s Growth Zone

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

Related Research
With more than 20 connected devices per human by 2030, we are rapidly moving to an environment that is permanently online and always connected. An increasingly digitalized and connected world will have a profound impact on a wide range of applications at home, at work, across cities, and several other use-cases (healthcare and automotive, for example). With such high levels of hyperconnectivity, consumers will expect a fluid, personalized, and unified experience, which can only be achieved when connected devices, data flows, and networks work in perfect harmony. This connected consumer experience is no easy task for any organization to fulfill; it will require a culture of creativity, engagement, and disciplined innovation. This Frost & Sullivan study outlines the evolution of connected living across 3 major connectivity environments – connected cities, connected homes, and connected workplaces. The convergence of these environments will result in ubiquitous connectivity and the emergence of new product applications, business models, technologies, platforms, and services. Connected Cities: Smart cities will drive the focus on connected and data-driven infrastructure, which will lead to higher adoption of technologies such as artificial intelligence (AI) and 5G. Smart cities spending on technology – over the next 6 years - is expected to grow at a compound annual growth rate (CAGR) of 22.7% and reach $327 billion by 2025. In a post-pandemic (COVID-19) world, cities will increasingly rely on online city services and open data platforms. For instance, more than 99% of Estonian public services are digitalized, making local services easily accessible, predictive, and effective for residents. In the long term, connected cities will integrate all aspects of human life; connected cars will act as conduits to fulfill city needs and connected physical infrastructure will constantly communicate with vehicles and other transit solutions. Ultimately, connectivity will also provide cities with an opportunity to connect marginalized communities and build an inclusive society. Connected Homes: The home of the future will become the central hub for connected living. The COVID-19 pandemic has accelerated the need for homes to evolve into on-demand workspaces, entertainment centers, fitness spaces, and telehealth centers. AI, augmented and virtual reality (AR/VR), advanced computing, and data analytics will enable a personalized user experience. The connected home of the future will anticipate resident behavior and adjust the home environment accordingly. Seamless connectivity will also facilitate the standardization of platforms across the intelligent device ecosystem. With the ongoing shift in energy prosumerism, homes will also transform into smart energy generation and transmission hubs. Connected Workspaces: Telecommuting by employees has grown by 115% over the past 10 years. The COVID-19 pandemic has reinforced the need for workplace connectivity. Zoom, one of the largest beneficiaries of the pandemic, recorded more than a 300% increase in revenue during 2019-2020. By 2030, around 75% of office workers, especially those working for large corporations, could move to remote work. Inter-connected hubs, digital reality solutions, and growth in unified communication and collaborative services will narrow the gap between physical and digital workplaces. IoT, automation, data analytics, and AR solutions will empower the connected worker of the future. In addition, the vision of a connected enterprise ecosystem will allow companies to build a unified strategy to predict, prepare for, and overcome challenges. Connectivity is rapidly transforming the business landscape, with new value chain partnerships, product innovation, and new business models reshaping market dynamics every day. To survive in a hyper-connected era, companies must ensure that their products and services are not only connected but also intuitive, conversant, and intelligent. For incumbents, service differentiation and strategic partnerships with technology leaders to build a broader connected ecosystem are key to thrive and sustain growth.--BEGIN PROMO--

Key Issues Addressed

  • What will a hyper-connected world look like in 2030? What are the key factors driving it?
  • What are the key transformations in connected homes, cities, and workspaces that will impact businesses and personal lives?
  • What are the top growth opportunities to watch out for in the next decade?
  • What are the critical success factors for growth for businesses operating in this space?

Author: Vinay Venkatesan

More Information
No Index No
Podcast No
Predecessor M94C-01-00-00-00
Author Vinay Venkatesan
Industries Cross Industries
WIP Number K4AC-01-00-00-00
Is Prebook No
GPS Codes 9A3B