How should the mobile industry address the vast business opportunity in connected smart homes?
This research estimates that revenues from shipments of home automation systems in Europe and North America will grow at a compound annual growth rate of 19.8 percent from US$ 36.7 billion in 2018 to US$ 90.6 billion in 2023.
Highlights from the report:
- Insights from 30 executive interviews with market-leading companies
- 360-degree overview of the smart homes & home automation ecosystem
- Summary of industry trends in key vertical market segments
- Statistical data on the adoption of smart home systems in Europe and North America
- New market forecasts lasting until 2023
- Detailed reviews of the latest initiatives launched by industry players
- Updated profiles of the key vendors on this market
According to this research report, the number of smart homes in Europe and North America reached 64 million in 2018.
The most advanced smart home market is North America, having an installed base of 33.8 million smart homes at the end of the year. This represents a penetration of 24 percent. Between 2017 and 2018, the market grew by 38.6 percent year-on-year. The strong market growth is expected to continue in the next five years.
By 2023, the research estimates that more than 60.3 million homes in North America will be smart, meaning 41 percent of all homes in the region. The European market is still behind North American, in terms of market penetration. There were a total of 30.5 million smart homes in Europe at the end of 2018.
The installed base in the region is forecasted to grow to 83.2 million homes at the end of 2023, representing a market penetration of 35 percent. The most popular products on the smart home market include smart thermostats, smart light bulbs, smart security cameras, smart air conditioners, smart door locks, smart plugs, and smart speakers. The market for smart thermostats is led by companies such as Ecobee, Nest and Resideo.
The research estimates that the installed base of smart thermostats amounted to 18.9 million units in North America and 6.6 million units in Europe at the end of 2018. Signify is the clear market leader in the market for smart light bulbs and other connected lighting products. Additional vendors in the segment include Ledvance, LIFX, Sengled, Merkury Innovations, and IKEA.
The installed base of connected light points at the end of 2018 amounted to 25.2 million units in North America and 22.4 million units in Europe. Smart speakers with integrated voice assistants have quickly become a popular smart home product. Amazon and Google hold a near-duopoly in the smart speaker market with an estimated combined market share of around 90 percent in North America and Europe.
At the end of 2018, the installed base of voice-controlled smart speakers amounted to around 100 million units in North America and over 21 million units in Europe. The market for whole-home systems is served by traditional home automation specialists, home security providers, telecom operators, and DIY solution providers. On the North American market, interactive home security systems have emerged as the most common type of smart home systems.
This type of system represented 41 percent of the 13.3 million whole-home systems in the region at the end of 2018. The largest home security providers include ADT, Vivint, and Comcast. In Europe, traditional home automation systems and DIY solutions are more common as whole-home systems.
eQ-3, Deutsche Telekom, Verisure, Centrica Hive, and Somfy are the largest vendors of whole-home systems in the region. The installed base of whole-home systems in Europe amounted to 6.8 million systems at the end of 2018.
This report answers the following questions:
- Which are the main verticals within smart homes and home automation?
- What are the main drivers behind the growth in Europe and North America?
- What are the challenges and roadblocks towards widespread adoption?
- What are the business models and channels-to-market for smart home solutions?
- Which are the leading whole-home system vendors in Europe and North America?
- How are product OEMs and whole-home solution vendors positioning themselves?
- What home connectivity technologies are smart home system vendors betting on?
- What is the potential market size for cellular IoT in home automation?
- How will the smart home market evolve in the next five years?
Key Topics Covered
1 Smart homes, connected homes and home automation
1.2 Types of home automation
1.2.1 Security and access control systems
1.2.2 Energy management and climate control systems
1.2.3 Audio-visual and entertainment systems
1.2.4 Lighting and window control systems
1.2.5 Healthcare and assisted living
1.2.6 Home appliances
1.2.7 Service robotics
1.2.8 Multifunction and whole-home automation systems
1.3 Home automation market segments
1.3.1 Mainstream houses and multi-family dwellings
1.3.2 The custom (luxury) segment
1.3.3 New homes versus existing homes
1.4 Channels to market
1.4.1 Professional installation
1.4.3 Service providers
2 Networks and communications technologies
2.1.1 Different approaches to establishing interoperability
2.1.2 Technology choices of product OEMs
2.1.3 Technology choices of whole-home solution vendors
2.2 Smart home networking technologies
2.2.3 DECT ULE
2.3 Smart home middleware and ecosystems
2.3.1 Amazon Alexa
2.3.2 Google Home and Google Assistant
2.3.3 Android Things and Weave
2.3.4 Apple HomeKit and Siri
2.3.6 Open Connectivity Foundation
2.4 Smart home platforms
2.4.3 Ayla Networks
3 Technology providers and OEMs
3.1 Market overview
3.1.1 Compatibility with whole-home systems
3.1.2 Point solutions are gaining traction among consumers
3.1.3 Smart home strategies for product OEMs
3.1.4 New entrants challenge incumbents with connected products
3.1.5 Popularity of smart speakers boost smart home product sales
3.2 Security and access control system vendors
3.2.1 Assa Abloy
3.2.2 August Home (Assa Abloy)
3.2.4 Chamberlain Group
3.2.5 Groupe HBF (Otio)
3.2.11 Wyze Labs
3.3 Energy management and climate control system vendors
3.3.3 Diehl Connectivity Solutions
3.3.5 Eve Systems
3.3.7 Johnson Controls
3.3.8 Netatmo (Legrand)
3.3.9 Radio Thermostat Company of America
3.3.10 Schneider Electric
3.4 Audio-visual and entertainment system vendors
3.4.1 Harman (Samsung Electronics)
3.4.4 Naim Audio
3.4.7 Sound United
3.5 Lighting and window control system vendors
3.5.1 CentraLite (Ezlo Innovation)
3.5.2 iDevices (Hubbell)
3.5.5 LIFX (Buddy Technologies)
3.5.6 Lutron Electronics
3.5.7 Ledvance (MLS)
3.6 Healthcare and assisted living
3.6.1 Climax Technology
3.6.3 Hidea Solutions
3.6.4 Just Checking
3.6.5 Qorvo (GreenPeak Technologies)
3.6.7 Sleep Number
3.6.8 Tunstall Healthcare Group
3.7 Home appliances
3.7.1 BSH (Bosch)
3.7.3 GE Appliances (Haier)
3.7.5 LG Electronics
3.8 Service Robotics
3.8.1 Double Robotics
3.8.5 Neato Robotics
3.8.7 Softbank Robotics
3.8.8 Zucchetti Centro Sistemi (Ambrogio Robot)
4 Service providers and whole-home system vendors
4.1 Market overview
4.1.1 The European market
4.1.2 The North American market
4.1.3 Attach rates per application area in whole-home systems
4.2 Market segments and go-to-market strategies
4.2.1 Traditional home automation
4.2.2 DIY systems
4.2.3 Professionally monitored security
4.3 Whole-home system OEMs
4.3.5 Control4 (SnapAV)
4.3.6 Crestron Electronics
4.3.8 Essence Group
4.3.10 Fibar Group (Nice)
4.3.13 Ingersoll Rand
4.3.15 Loxone Electronics
4.3.16 MiOS (Ezlo Innovation)
4.3.17 Nest Labs
4.3.18 Nice Group
4.3.19 OBLO Living
4.3.20 Proove (Telldus)
4.3.21 Resideo Technologies
4.3.22 Safe4 Security Group
4.3.23 Samsung Electronics
4.3.24 Savant Systems
4.3.27 United Technologies Corporation
4.3.28 Viva Labs
4.4 Smart home service providers
4.4.2 Altice France
4.4.4 Brinks Home Security (Monitronics)
4.4.5 Centrica Hive
4.4.7 Cox Communications
4.4.8 Deutsche Telekom (QIVICON)
4.4.9 Innogy (E.ON)
4.4.11 Vivint Smart Home
5 Market forecasts and conclusions
5.1 Market trends and analysis
5.1.1 Greater consumer awareness benefits all players
5.1.2 Lower price points opens the doors to the mass market
5.1.3 Cloud-based systems and the integrated hub opportunity
5.1.4 Open versus closed smart home ecosystems
5.1.5 Lack of interoperability causes problems for users
5.1.6 Security and integrity issues when the home is being connected
5.1.7 Smart home devices can give discounts on home insurance premiums
5.1.8 Professional security leads the North American smart home market
5.1.9 Cellular M2M in the smart home market
5.1.10 Mergers and acquisitions in the smart home industry
5.2 Popular smart home product categories
5.2.1 Smart speakers
5.2.2 Smart thermostats
5.2.3 Smart lighting
5.2.4 Smart plugs
5.3.3 Installed base
5.4 North America
5.4.3 Installed base
For more information about this report visit https://www.researchandmarkets.com/r/l2gbrv