Connected home appliances in the US: Key market research findings
- Availability of home broadband connectivity augments market growth
- Increase in the use of Bluetooth and Wi-Fi technology for operation of smart home products
- Key vendors – ARRIS, AT&T, Comcast, Honeywell, and Samsung
Technavio’s market research analysts predict the connected home appliance market in the US to surpass $5 billion by 2020. The ubiquity of home broadband connectivity is the major fueling force behind the growth of this market. Smart home systems are gaining traction with the advent of high-speed Internet services from leading Internet service provider (ISPs) such as AT&T, Comcast, Sprint, and Verizon. Major companies such as Samsung, LG, and Panasonic are capitalizing on smart home technologies to strengthen their foothold in the competitive market.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, there has been an increase in the use of Bluetooth and low-power Wi-Fi to operate smart home products. Products that use Bluetooth technology for actions like controlling light bulbs and clicking pictures of persons outside the home for identification purpose are gaining traction in the market. Unlike Wi-Fi, which consumes time due to cloud networking for the transfer and retrieval of information, Bluetooth technology enables communication that is faster and easier,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research.
Smart homes enable interactive security systems that effectively improves security features for the users. They incorporate various automatic systems such as motion and window sensors, thermostats, light controls, and door lock controls that receive remote control signals and perform required actions. The control signals are transmitted via a wireless global system for mobile communication (GSM) technology to ensure reliable and fast communication between users and home security systems.
The key vendors in the market include ARRIS, AT&T, Comcast, Honeywell, and Samsung. The connected home appliance market in the US is highly competitive owing to the presence of many large players operating in different industry verticals. Also, wireless phone providers and ISPs are facing competition in terms of package offerings due to the rising demand of the customers.
A more detailed analysis is available in the Technavio report, Connected Home Appliance Market in the US 2016-2020.
We can customize reports by other regions and specific segments upon request.
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