Smart Home Market Growth Opportunities

Smart Home Market Growth Opportunities

Home Entertainment Systems to Support the Future Growth Potential of Mass IoT

RELEASE DATE
22-Dec-2022
REGION
Global
Deliverable Type
Market Research
Research Code: K7E4-01-00-00-00
SKU: IT04651-GL-MT_27319
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Description

The smart home market is moving toward optimized and personalized devices, environmental control, and energy consumption through ubiquitous connectivity and digital transformation. This strategic analysis is part of Frost & Sullivan's continued coverage of the global IoT market. Frost & Sullivan offers valuable insights that will help IoT service providers increase revenue and identify new opportunities within this marketplace.

The IoT space is still in flux. Unlike more mature Information and communications technology (ICT) markets, the IoT space sees significant overlap with other industries such as automotive, energy, and transportation. To accurately observe and measure IoT-related economic activity, Frost & Sullivan uses the definition above to determine if a technology product, application, or service is to be considered a part of the IoT. Frost & Sullivan identifies the main segments that accumulate connected devices in Smart Homes: home entertainment, home safety and security, home energy, health and wellness, and home automation and control.

A home entertainment system is a multi-room system that controls and automates home entertainment devices and provides high-quality audio/video experience for end users.

Security systems that are connected either to an onsite management system or an offsite cloud-based management system.

A home energy management system (HEMS) is a technology platform that monitors, manages, and controls home functions, such as heating, ventilation, and air conditioning (HVAC), lighting, solar photovoltaics (PV), and other appliances in a residential building.

Health and wellness, also called technology-enabled care (TEC), covers mobile health, digital health, and telehealth.

A home automation system is a centralized system that controls and automates at least 2 home functions from remote locations, thereby providing an assisted and connected living environment to end users.

Key Features

To be considered a component of the IoT, any product, application, or service must be part of a larger solution that comprises these 4 elements:

  • Objects that are virtualized and imbued with data measurement capabilities
  • The ability to grant identities to physical and virtual objects
  • Interconnections between these objects, for monitoring and interaction
  • The ability to generate real-time insights from data and incorporate them into existing business processes

Author: Renato Pasquini


Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Smart Home Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

The Definition of the IoT

Scope of the Study

Smart Homes Market Overview

Growth Metrics

Segmentation

Software and Hardware Layers

Internet Households

Fixed Mobile Convergence

Wi-Fi 6—Features and Benefits

Wi-Fi 6 and 5G Overview

Wi-Fi 6 Vs. 5G

Top 5 Household Penetration of Connected Devices, 2021 & 2026

Home Ecosystem Architecture

Smart Homes Technology Stack

Main Enablers of Smart Homes

The Home as a Hub

The Home as a Hub (Continued)

The Evolution of the Home Ecosystem

A View of Future Homes in 2030—The Hyper-personalized Home Hub

The Main Trends in the Smart Home Market

The Top 5 Growth Opportunities in the Smart Homes Market

Critical Success Factors for Growth

Growth Drivers

Growth Restraints

Forecast Assumptions

Connected Devices Forecast

Forecast Analysis

Connected Devices Forecast by Segment

Forecast Analysis by Segment

Connected Devices Forecast by Region

Forecast Analysis by Region

Growth Opportunity 1: Home Entertainment Systems

Growth Opportunity 1: Home Entertainment Systems (continued)

Growth Opportunity 2: Home Safety and Security Systems

Growth Opportunity 2: Home Safety and Security Systems (continued)

Growth Opportunity 3: Home Energy Management Systems

Growth Opportunity 3: Home Energy Management Systems (continued)

Growth Opportunity 4: Health and Wellness Technology-enabled Care

Growth Opportunity 4: Health and Wellness Technology-enabled Care (continued)

Growth Opportunity 5: Home Automation and Control Systems

Growth Opportunity 5: Home Automation and Control Systems (continued)

List of Exhibits

Legal Disclaimer

The smart home market is moving toward optimized and personalized devices, environmental control, and energy consumption through ubiquitous connectivity and digital transformation. This strategic analysis is part of Frost & Sullivan's continued coverage of the global IoT market. Frost & Sullivan offers valuable insights that will help IoT service providers increase revenue and identify new opportunities within this marketplace. The IoT space is still in flux. Unlike more mature Information and communications technology (ICT) markets, the IoT space sees significant overlap with other industries such as automotive, energy, and transportation. To accurately observe and measure IoT-related economic activity, Frost & Sullivan uses the definition above to determine if a technology product, application, or service is to be considered a part of the IoT. Frost & Sullivan identifies the main segments that accumulate connected devices in Smart Homes: home entertainment, home safety and security, home energy, health and wellness, and home automation and control. A home entertainment system is a multi-room system that controls and automates home entertainment devices and provides high-quality audio/video experience for end users. Security systems that are connected either to an onsite management system or an offsite cloud-based management system. A home energy management system (HEMS) is a technology platform that monitors, manages, and controls home functions, such as heating, ventilation, and air conditioning (HVAC), lighting, solar photovoltaics (PV), and other appliances in a residential building. Health and wellness, also called technology-enabled care (TEC), covers mobile health, digital health, and telehealth. A home automation system is a centralized system that controls and automates at least 2 home functions from remote locations, thereby providing an assisted and connected living environment to end users.--BEGIN PROMO--

Key Features

To be considered a component of the IoT, any product, application, or service must be part of a larger solution that comprises these 4 elements:

  • Objects that are virtualized and imbued with data measurement capabilities
  • The ability to grant identities to physical and virtual objects
  • Interconnections between these objects, for monitoring and interaction
  • The ability to generate real-time insights from data and incorporate them into existing business processes

Author: Renato Pasquini

More Information
Deliverable Type Market Research
Author Renato Pasquini
Industries Information Technology
No Index No
Is Prebook No
Keyword 1 Home Automation Market
Keyword 2 Smart Home Market Analysis
Keyword 3 smart home security market
Podcast No
WIP Number K7E4-01-00-00-00