It became official on Wednesday March 11: COVID-19 was declared a pandemic by the World Health Organization. The outbreak of the coronavirus has spread from Asia to the West and there are more unknowns and questions than facts and answers concerning the virus. Measures to limit the spread of the virus, -social distancing, self-isolation, closing of businesses, schools and limiting travel among other measures - are wreaking havoc on economies around the world.
This report outlines three potential impact scenarios on the intelligent home market addressing three key questions:
- What will be the impact on the intelligent home market?
- Despite rapidly deteriorating business conditions and elevated consumer fears, are there opportunities that can be addressed?
- What steps should companies take to mitigate the negative impact on their businesses due to COVID-19?