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Author: William Ablondi
Publication Date: Jul 14 2015
Pages: 6
Report Type: Forecast and Outlook
Smart Home

IoT Hits Home: Smart Home Global Device Forecast

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Report Summary:

IoT Hits Home: Smart Home Devices Global Forecast

The Smart Home market is continuing to gain momentum as consumers become aware of the benefits of an ever widening array of smart devices hitting the market. Services, such as Interactive Security and Remote Self-monitoring and control are central to the ambitions of broadband service providers, wireless carriers and security service firms. In five years’ time service revenues will finally begin to overshadow revenue from the sale of hardware devices such as thermostats, cameras, digital locks and sensors of many varieties in addition to lighting and appliance controls. In the meantime, hardware revenues will account for the majority of Smart Home spending by consumers on a global basis.

Consumer spending on Smart Home hardware will hit nearly $35 billion globally in 2015 and double in five years to $70 billion. The largest categories are Lighting and Appliance controls followed closely by IP cameras. New categories, such as smart LED bulbs and digitally controlled irrigation systems will add to revenues generated by more traditional control systems. The market for bulbs is widespread and we forecast it to reach more than a $1 billion annual run rate by the end of 2017. The market for irrigation controllers is focused on arid regions or those facing severe droughts like California in the US.

Table of Contents

This forecast breakouts the major categories of smart devices in four major product categories:

  1. Interactive Security
  2. Self-monitoring & Control
  3. Whole-home Control
  4. Integrated Entertainment Controls

The individual devices in these categories fall into the following types:

  • Gateway/Panel/user Interface

    •       Programmable Communicating Thermostats (PCTs)

    •       Cameras (All Types)

    •       Door/Window Sensor

    •       Motion Detectors

    •       Radiator Controls

    •       Electronic Door Locks

    •       Smoke Detectors

    •       Flood/Moisture Sensors

    •       Smart Plugs, Lighting & Small Appliance Controls

    Four additional categories of devices are forecasted separately:

  • Controllers for Smart Appliances
  • Smart Bulbs
  • Digitally Controlled Irrigation Systems
  • Other Devices (e.g., radiator controls, specialized sensors, sirens, key fobs, etc.)

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