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The Connected Home Market Research Report Forecasted to Reach $7.7B in 2021

Posted by Marites Alma Christiansen on Oct 29, 2015 06:10 AM EDT
Repair Services Aid Homebound Seniors With Household Maintenance more big
LEDGEWOOD, NJ - MARCH 24: 'Operation Fix-It' technician Manfred Shultz changes the batteries on a smoke detector inside a senior's home on March 24, 2014 in Ledgewood, New Jersey. The progam, run by Hope House, a division of the non-for-profit Catholic Family and Community Services, provides home repair services for elderly and people with disabilities in Morris County, New Jersey. Repair services, such as weatherization, plumbing, carpentry, masonry and electrical are charged on a sliding scale for low income residents and are free for seniors living on a fixed Social Security income. (Photo : John Moore/Getty Images)

According to an article on digitaljournal.com, the connected home market is fast becoming a significant innovation that is thriving in the market today. Abundant spatial cloud capacity, sensor miniaturization, advancement of wireless standards as well as smartphone evolution with low hardware prices are the forces behind this evolving market. Alert systems and improved interfaces are being laid as the connected home's foundation. This was elaborately discussed on the report Security Devices For Connected Homes: Market Shares, Strategy, and Forecasts, Worldwide, 2015 to 2021 by WinterGreen Research. Such security devices are forecasted to reach as high as $7.7 billion worldwide in 2021, in their latest research report.

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Last year saw the wide expanse of security-based DIY house gadgets. Self-install house security units such as point solutions, kits, modules and systems that are hub-based were made available. New modules are designed to interconnect with apps on a regular smart phone; these security systems are gaining an audience as part of the bigger smarter homes systems market, as stated in the same article.

"Consumers, especially in younger generations, expect mobile apps, security cameras, and mobile notification features with their home security systems. Older generations and the not-do-it-yourself have a hard time with installation and maintenance of DIY connected home solutions. The combination of needs from both the young and old are creating a favorable environment for sustained substantial growth in the Do-It-For-Me (DIFM) interactive security and connected home space," according to the report on radiantinsights.com.

In addition, WinterGreen Research Team Leader Susan Eustis says, "In 2014 the Security for Connected Homes saw a large number of big-name acquisitions and entries. Samsung made an acquisition of SmartThings. Google's acquisitions were of Nest, Dropcam and Revolv. Apple acquired HomeKit. Quantities of fielded point devices and systems increased. What defines the market is the ability of a device to connect to a smartphone app and send alerts directly from a connected device to a remote smartphone."

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