Report: Smart Home Networks to Arrive Sooner Than You Think

Worldwide shipments of 'Smart Home' sensor network chipsets will approach 100 million, critical enablers for the nearly $6 billion in projected revenue for cloud based smart home applications, according to the latest research from ON World.

'Smart Home' products and services will grow dramatically over the next few years, reaching tens of millions of homes, according to ON World's "Smart Home Sensor Networks" report, as IP infrastructure enables more smart mobile devices, along with cloud apps and services and sensor network technologies.

All these will become increasingly prominent in modern 'smart homes' around the world in the coming five years, providing homeowners with more affordable technology that will enable them to cut costs and enhance the home experience in terms of convenience, safety and security, according to the report's authors.

Surveying over 500 consumers, ON World researchers found that nearly half are interested in 'traditional' Smart Home applications. Nearly 3 in 10 are willing to pay $10 per month or more for a service that provides remote access, automation and control of home systems, such as lighting, security and energy.

Demand for energy solutions is the primary drive underlying development of the Smart Home market, according to ON World. Though lagging in the U.S., smart metering initiatives are proceeding faster in Europe, where the market for real-time energy display devices and systems is set to reach 4 million installed by year-end, most of them in advance of smart meter installations, ON World found.

In addition to wireless sensors and actuators, IP-based automation systems and Web applications that provide automation of home energy systems are other critical elements of the 'Smart Home' environment of the near future.

Millions of U.S. households will adopt energy management products and services within the next few years, according to ON World, primarily through home security and broadband carriers, along with professional installers and online and traditional retail outlets.

Ensuring that all the 'Smart Home' network devices and services work together and are secure are among the challenges providers will have to overcome if they're to compete successfully and see the market grow to reach its potential, ON World's research team notes.

ON World's Smart Home research group surveyed and interviewed 900 individuals in putting together the "Smart Home Sensor Networks" report, which covers market opportunities by sensor networks including equipment, installation, cloud services and chipsets.

The research highlights the growing smart home opportunity for CHR clients. Broadband carriers can play a significant role in this emerging business, potentially realizing additional revenues as a result.

Written by Kevin Kutcher at 00:00

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