In recent years, the notion of a “Smart Home” has increasingly gained momentum, propelled by the people’s want for a better living experience. Smart Home may consist of any device-cum-gadget meant to offer greater convenience, improve efficiency, and enhance connectivity in the home.
Market Overview
Control and connectivity have already become the primary areas for the fast growth of Smart Home systems. The following is a comparison table on different revenues accrued by the segment markets of Smart Home in 2017:
| Region | Revenue (USD) | Market Share (%) |
|---|---|---|
| United States | 3.37 billion | 49 |
| Europe | 1.66 billion | 24 |
| China | 0.65 billion | 10 |
| Others | 1.14 billion | 17 |
| Total | 6.82 billion | 100 |
Dominant Players in the Market
Several companies have established themselves as key players in the Smart Home market:
| Product Type | Major Companies |
|---|---|
| Smart Speakers | Amazon, Google, Xiaomi |
| Smart Hubs | Apple, Lenovo (Harman) |
| Smart Plugs | Numerous manufacturers |
Key Benefits of Control and Connectivity
If talking about the Smart Home infrastructure, it is the control and connectivity part, which is the real backbone of a home. These enable devices to be really capable of talking both ways. It may be between devices and the user at large. Here are a few features that would build up the most important ones:
- Smart Speakers: Great additions like Amazon Echo and Google Home serve as the main controllers for other devices.
- Control Devices: Touch controls and dedicated panels that enhance user interaction.
- Smart Sockets: Allow traditional devices to become “smart ” remote options open to them.
Central Hub Functionality
A central hub is required for the entire Smart Home ecosystem because it connects many IoT devices into one control point, thus allowing you to manage all your smart devices using a common gateway.
Income in Smart Homes
As sales in a control and connectivity segment include the various hardware products and the many other supporting services, one can summarize the things included in this segment as below:pporting services. Below is a summary of the elements included in this segment:
| Component | Type |
|---|---|
| Smart Speakers | Amazon Echo, Google Home |
| Central Hubs | Communication gateways |
| Programmable Controls | Wall switches, adjustable dials |
| Smart Plugs | Control for non-smart devices |
| Services | Control apps, connectivity services |
Conclusion
These Smart Homes continue to grow, propelled by advancements and consumer demand. The companies that specialize in control and connectivity have generally been the front runners and have provided the necessary backbone for smart homes. As IoT continues to pave the way for innovations, more new smart avenues will be opened soon for consumers to make their lives easier and better.
Thus, the knowledge of Smart Home prospects allows stakeholders to know the current trends and innovations in this sector, proving itself a rapidly growing one.