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Author: William Ablondi
Publication Date: Feb 13 2023
Pages: 11
Report Type: Insight, Word
Smart Home

Smart Home Predictions for 2023

Report Summary:

Every year we publish our predictions for the year and check how we did with last year’s prognostications. Last year we thought major brands would enter the market through acquisition; we were wrong. They entered via partnerships. 
This year we see more partnerships forming, a changeup in the top 10 US security providers, continued growth of the DIY security business, the entry of one or more pay TV providers and the evolution of the smart TV to be the smart home hub. Total consumer spending for smart home systems and solutions will hit $130 billion in 2023 up from $118 billion in 2022.

Table of Contents

1. How did we do on the predictions for 2022?

  1.1 Smart home business models will continue to embrace recurring fees for services             rather than only    hardware sales.

  1.2 DIY security will take hold in Europe              

  1.3 Companies will enter the smart home market via acquisitions

  1.2 Ambient computing meets the metaverse in the smart home            

2. Predictions for the Smart Home in 2023

   2.1 The Top 10 US Interactive Security list for 2023 will look different than last year’s               list

   2.2 Companies will enter the smart home market via partnerships

   2.3 Self-monitored security will generate $4.6 billion in revenues by 2027 in the US

  2.4 One or more Pay TV providers will enter the smart home market as the need to                diversify their revenue stream grows

   2.5 Matter will gain traction with most smart home device manufacturers

   2.6 The TV is vying to become the smart home hub

   2.7 Global spending on smart home systems and services with reach $130 billion in               2023

  2.8 Key questions to address in 2023

3. Analyst Contact           

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