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