Smart home spend to surge to $100 billion by 2020

Smart home spend to surge to $100 billion by 2020

Smart home spend to surge to $100 billion by 2020

New data from Juniper Research has found that consumer spend on Smart Home services (including entertainment, health, energy and home automation) will reach $100 billion by 2020, well over twice the estimated spend for this year — $43 billion.

Entertainment services such as Netflix and Spotify are playing a key role in boosting the Smart Home market size, driven by a universal appeal, and the low cost of services. However, emerging Smart Home segments, such as home automation, are expected to begin catching up, driven by falling hardware costs and increased consumer awareness.

The new research found that numerous home automation subscription services, such as AT&T’s Digital Life, have struggled to address the mass-market. Incremental unit-by-unit purchases, to personalise the home, are therefore the most likely entry point for the consumer.

“Enabling services to generate recurring revenue on top of Smart Home hardware will be crucial for realising the projected long-term success of this market” notes research author Steffen Sorrell. “However, tapping the developer community to innovate and address the wider market remains an issue.”

 Click here to download an early preview of next year’s Smart Home World (21 – 22nd June, 2016, The Crystal, London) guide

We welcome reader discussion and request that you please comment using an authentic name. Comments will appear on the live site as soon as they are approved by the moderator (within 24 hours). Spam, promotional and derogatory comments will not be approved

Post your comment

Facebook, Instagram and Sky case study: Game of Thrones

BT at IBC: 'unlocking the power of fibre IPTV'

IP&TV News tries out 4G Broadcast at the FA Cup Final

Thomas Riedl: “Google TV has evolved into Android TV”

Tesco and blinkbox: what went wrong?

Reed Hastings and 2030: is he right?