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Smart Homes: The $6 Billion Market by 2019

Posted by: Ashok Maurya On October 13, 2014 05:00 PM

The smart home market is gaining business as niche players like Apple plan to get into the market; it's a pretty big deal all around. This combination of factors is leading some to make attempts at determining the size of the market in the future, and ABI Research proves no different here, releasing some new projections that suggest the market for smart home controllers will clear the $6 billion mark by 2019.

ABI Research is having dedicated Home Research Service, which focuses specifically on the market for tools and applications that drive home automation services. This is actually a substantial market, having a host of points from broader concepts like home energy management s and home security systems to more specific tools like connected appliances, lighting systems and entertainment functions. Even some healthcare tools emerge in this field, making the smart home market a substantial one.

But what really fuelled ABI Research's projections was the combination of a growing market overall coupled with an increasing number of applications within that market. As the market continues to express interest in being able to do things like control thermostats, turn on various appliances, or even shut off said appliances via remote, that in turn is driving not only sales within that market, but the development of new applications that the market doesn't even yet know it wants because it doesn't know said applications exist. Additionally, as more firms get involved, prices likewise drop, which in turn helps drive interest from the fence-sitters who stayed out of the market due to price. That fuels more demand, and drives more interest. Companies from several different market segments are getting in on the action, with Internet service providers like Comcast and AT&T getting in, along with home networking companies like Belkin, Cisco and Netgear. New entrants, meanwhile, are getting in to the market as a primary market, featuring companies like Revolv and smartThings.

Tags: Digital Enterprise Services
 
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