Smart home Tracker Archives - Page 2 of 2

India Smart Home Security Camera Market Grows 116% YoY in Q2 2022; Xiaomi, Tapo, Imou Lead

Xiaomi led the market in Q2 2022 (April-June) with a 38% share.
Tapo registered the highest YoY growth at 153% and took the second position in Q2 2022 with a 27% share.
Imou captured the third spot with a 9% share, driven by its ranger series.
EZVIZ maintained its position in the top five list for the third consecutive quarter.

New Delhi, Boston, Toronto, London, Hong Kong, Beijing, Seoul, Buenos Aires – August 5, 2022

India’s smart home security camera market grew 116% YoY and 7% QoQ in Q2 2022 (April-June), according to the latest research from Counterpoint’s Smart Home IoT Service. This growth was driven by increasing consumer interest, greater concerns over security, shift from traditional security cameras, and brands’ marketing push through discounts and promotions.

Commenting on the market trends, Research Analyst Varun Gupta said, “The growing consumer interest in smart home security cameras is a result of various factors, including ease of use, availability of smart features, and affordability. Consumers are more concerned about safety inside their premises, and these devices offer features that help them to keep a check on their surroundings. The pricing of these devices has been a key to the success of the smart camera market as most brands are offering devices below <INR 2,500 ($31), which is less than the conventional camera systems.”

From the brand perspective, Gupta said, “The market seems consolidated as the top three brands captured 74% share in Q2 2022. There was a push towards offline retail channels by leading brands such as Xiaomi, EZVIZ, Imou, Qubo and CpPlus. The Security Camera 360^oby Xiaomi is the best-selling model for the brand and in the overall market in Q2 2022. Tapo registered the highest YoY growth in Q2 2022 owing to its wider portfolio and value-for-money offerings. Imou jumped to the third spot in Q2 2022 from the fifth spot in Q2 2021, driven by affordable products in the INR 2,000-INR 2,500 ($25-$32) price band. More brands focused on creating consumer awareness through offline channels. However, the majority of the sales were still online driven.”

Commenting on the market outlook, Senior Research Analyst Anshika Jain said, “The smart home security camera market is expected to grow over 50% in 2022 due to the continuous efforts by brands to make these devices available offline, special discount schemes and launch of value-for-money devices. In addition to this, we also expect the entry of new brands to build their position in this untapped market. In terms of applications, the indoor security camera market will witness a jump due to demand coming from working professionals resuming work at offices after the work-from-home routine during the pandemic. Security of senior citizens will also drive demand.”

“The major hurdle to mass adoption of these cameras is the lack of consumer awareness. Brands need to focus on setting up experience zones and providing some sort of bundled offers with other smart home products to market these products in a better way,” Jain added.

Xiaomi shipments doubled YoY in Q2 2022 due to an increase in demand for home security cameras and better brand outreach through promotional events. Xiaomi is planning to have new SKUs in the current price segment and has also come up with Xiaomi Camera Viewer, a useful and simple standalone laptop camera app for MS Windows. It allows users to record videos, take snapshots and facilitate multi-camera view on one screen.
Tapo by Tp-Link rose to the second position again after Q2 2021 with a 27% share. The brand has continuously focused on the online market and its C200 device has been the best-seller for the brand in recent quarters.
Imou by Dahua Technologies rose to the third position with a 9% share for the first time. The ranger series of indoor cameras has been its most popular series. The devices offer AI human detection and smart tracking for more control of the indoor environment.
EZVIZ by Hikvision fell to the fourth position in Q2 2022 from the second position in Q1 2022. It has introduced the C1C-B indoor camera with smart features like motion detection, user-friendly sound alerts and two-way talk.
Qubo by Hero Electonix took the fifth spot in Q2 2022 with a 6% share. It has been focusing on local manufacturing. The Home Cam 360 Indoor Camera and Smart Outdoor Cameras are its most popular devices.
realme registered a 74% YoY growth in Q2 2022 due to good performance by its Home Cam 360^o. The brand is expanding its offline presence and is expected to refresh its portfolio soon amid strong demand.

Other Emerging Brands

Zebronics maintained its position in the top 10 but with a decline of 3% YoY in Q2 2022. It is offering value-for-money devices in the sub-INR 2,000 category. The Smart Cam 100 is its most popular device.
CpPlus had a 1.5% share in Q2 2022. Its E21A Ezykam, a made-in-India product, performed well in the online marketplace. However, the brand is increasing its presence in the offline market by leveraging its established surveillance business.
D-Link grew 22% YoY in Q2 2022 due to good performance by its DCSP6000LH home camera, which offers portability, motion and sound detection.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media, and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects, and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Analyst Contacts:

Varun Gupta

Anshika Jain

Counterpoint Research
press(at)counterpointresearch.com

Bespoke Home 2022: Samsung’s Smart Home Strategy Gathers Pace

At this year’s Bespoke Home 2022 event, Samsung showcased its vision for smart home products. As the name of the event implies, Samsung is attempting to disrupt the home appliance market by offering smart home appliances with the added benefit of a wide array of ‘mix-and-match’ colors and finishes for several of its products. It is also pushing its sustainability credentials. Last year’s inaugural Bespoke event received a lot of positive responses from the industry, and it encouraged Samsung to introduce SmartThings Home Life app this year. This app and associated services will be available across 97 countries around the world by end of June, but Samsung’s Bespoke products are currently available in around 50 countries, indicating a likely expansion path.

Looking at Samsung’s key products announced at the event.

SmartThings Cooking

The AI powered Bespoke oven will be initially available in European markets by the second half of this year. “AI Pro Cooking” feature helps to monitor the food while it is being prepared, while “Dual Cook Steam” enables different cooking methods simultaneously.

Counterpoint Research- Bespoke Home 2022: Samsung’s Smart Home Strategy Gathers Pace

SmartThings Cooking app can adapt to users’ tastes and preferences according to their dietary restrictions or preferences. This can also be beneficial for non-smart appliance owners for selecting recipe ingredients through associated retailer apps like Walmart, Instacart, Amazon Fresh, and Kroger.

Samsung is expanding its SmartThings product lines by adding dishwashers and induction cooktops which are expected to be available by end of this year.

SmartThings Clothing Care

After the COVID-19 outbreak, people are putting more priority on their health and hygiene. Keeping this in mind, Samsung launched Bespoke AI laundry which will be available in the US and Europe. Bespoke AI washer and AI dryer can ready the garments to wear within an hour. AI Optiwash feature will optimize load size and sense parameters such as water level, fabric, soil level and detergent.

Counterpoint Research- Bespoke Home 2022: Samsung’s Smart Home Strategy Gathers Pace

These devices include ‘AI Ecobubble’ functionality that reflects the company’s vision for smart home products. Samsung claims it is making a strong effort to create more sustainable product lifecycles by minimizing waste and using greener production methods. However, it is difficult to verify these claims.

SmartThings Home Life App

Artificial intelligence (AI) can provide more convenience to users of smart home products through customization. Samsung is bringing AI capabilities to SmartThings Home Life app by integrating six services covering, Pet Care, Air Care, Cooking, Energy, Clothing Care and Home Care. The centralized control of all devices can enhance customers’ experience in using smart home products. Samsung already has more than 200 global partners and 250 million registered users on SmartThings. The collected user data over the period will also help to customize the newly designed SmartThings Home Life app.

Counterpoint Research – Bespoke Home 2022: Samsung’s Smart Home Strategy Gathers Pace

Samsung has partnered with ABB, a Swiss multinational company, to help it improve its automation and integration. ABB has considerable experience in the digitalization and automation of industrial processes.

Counterpoint’s Take

Amazon Alexa and Google Assistant apps are dominating the voice assistant space. However, there will be a chance for Samsung to capitalize on its voice assistant app, Bixby, through SmartThings app. Bixby is generally considered to be inferior to its competitors, so its performance will need to improve substantially before consumers make more consistent use of it.

Samsung is diversifying product offerings under the smart home categories. Samsung is also focusing on services as these can provide recurring revenues. Samsung already had SmartThings Hub app for connecting devices but the specifically designed SmartThings Home Life app is expected to provide greater convenience and efficiency in smart home applications.

Counterpoint Research- Bespoke Home 2022: Samsung’s Smart Home Strategy Gathers Pace

With these several launches, Samsung wants to add more convenience to consumers’ daily routines by harnessing connectivity among smart devices.

We expect the global smart home device shipments to exceed 1.4 billion units by 2025 with a CAGR of 21% from 2021. The market is fragmented though, so a company with the scale and scope of Samsung is in a strong position to offer a comprehensive range of products that work well together via a central point of control.

The smartphone market is maturing and smartphone players are looking for alternative business opportunities. Xiaomi is also aiming to take a significant share of the smart home market, although its approach is different.

Key Consumer IoT Themes at MWC 2022: Wearables, Smart Office & Smart Home Solutions Galore

Mobile World Congress (MWC) which took place in Barcelona, Spain this year from February 28^th to March 3^rd showcased some interesting announcements and trends that will set new standards for upcoming products and technologies across the entire digital ecosystem.

Major highlights this year revolved around 5G, cloud, artificial Intelligence, robotics, cyber security, IoT, XR, and e-Sim technology. From a device perspective, we could see updates on not only smartphones but Consumer IoT (cIoT) devices as well from big players including Samsung, Lenovo, Radisys, Huawei, Honor, realme, and Nokia.

Here are the major cIoT announcements from this year’s MWC event:

Samsung’s three new laptops Galaxy Book 2 Pro, Galaxy Book 2 Pro 360 and Galaxy Book2 Business

Galaxy Book 2 Pro and Book 2 Pro 360

Both these devices are equipped with 1080p AMOLED display, 12th generation Intel Core i7 processors, dual stereo speakers tuned by AKG, Dolby Atmos support, WiFi 6E connectivity and S Pen Support. These are available in two sizes 13.3 inches and 15.6 inches.
Samsung Galaxy Book 2 Pro is priced at USD 1,049 while the Pro 360 variant is available at USD 1,249 and will be available from April 1^st on the Samsung website.
For both devices, special emphasis has been put on display quality, security and enhanced battery backup The full HD camera is particularly useful for conducting business and client meetings effectively. One thing to observe about the Pro 360 model is its 2 in 1 design which has the capability to fold like a tablet, especially useful for heavy travelers.
Samsung is bringing Bixby for the first time into the laptop for voice control. This will enable the user to control other smart home devices as well through SmartThings Integration.

Galaxy Book 2 Business

Samsung announced the launch of its latest PC device ‘Galaxy Book2 Business’ which is built on Intel vPro Platform and is equipped with a 14-inch display, 8 GB RAM which can be extended to 64GB and 256 GB storage with an expansion limit of up to 1 TB.
The interesting thing to note is its own ‘defense-grade security technology’ feature that has the capability to detect and track malicious activities and inhibit PC attacks through the Tamper Alert function. Even after witnessing an attack, all the valuable data is secured through the Intel Hardware Shield.
This PC is basically designed for enterprise users, keeping in mind current security issues and serves the needs of working in a hybrid environment situation. The business IR camera in the laptop is capable of giving access only to authorized users through face detection. This is the first Samsung laptop to have facial recognition technology.

Lenovo launched a series of laptops in the ThinkPad and IdeaPad range along with Chromebooks, ThinkBooks, a portable monitor, and an updated tablet

ThinkPad X13s

ThinkPad X13s is the world’s first laptop that features Qualcomm’s Snapdragon 8cx Gen 3 chipset. This new chip is capable of achieving battery life of up to 28 hours.
It features a 13.6 inch touch control display with an enhanced 5G connection, and a 5MP webcam. It is priced at $1099 and will be available in the U.S. from May 2022.
The emphasis has been put on the portability factor and enhancing the battery life with the new processor.

Other major product announcements by Lenovo

ThinkPad Extreme X1 Gen 5: This is ideal for gaming purposes and is embedded with a Core i9 processor and 64GB of RAM. Neat additions like the magnetic keyboard and stylus support from Lenovo show the full capabilities that foldable PC form factors can offer.
Lenovo Ideapad Gaming 3 and 3i: Both are entry-level gaming laptops that are ideal for full HD gaming and 4K video editing. Both the models are same in terms of specifications however, the main difference is the processor. Gaming 3i is equipped with Intel’s 12^th Gen processor while Gaming 3 has AM
IdeaPad Flex 5 series: It has a flexible hinge that can be folded to use it like a tablet which will be available in two variants 5 and 5i. These are powered with AMD Ryzen 7 series and 12th-generation Intel Core i7 processors respectively.
ThinkBooks: Lenovo unveiled its latest ThinkBook 14s Yoga Gen 2 and ThinkBook 13s Gen 4i laptops. The devices are equipped with a smart pen to take notes, sketch designs and sign documents easily.
IdeaPad Duet 3 Chromebook: This tablet with detachable keyboard could be a good alternative for students as they can take notes during lectures utilizing the magnetic clip-on keyboard. It is available in the US starting May 2022 at a starting price of USD 399.
IdeaPad Duet 5i: In terms of design, it is very much similar to IdeaPad Duet 3 and the screen can be plucked off to use it as both a tablet and laptop. The main difference is that, it has an Intel 12^th Generation Core chipset instead of Windows 11 which makes it more powerful and ideal for office workers.
Tab M10 Plus (3rd Gen): This third-generation tablet has an improved display and narrow bezels. It has a new feature called ‘Reading Mode’ making it suitable for media consumption of all kinds.

There were numerous updates in its ThinkPad T series line-up as well to address the needs of a diverse work environment. The new type of solutions will help solve the need to work across hybrid environments. The foldable PC form factor and the flexible OLED displays are good additions to its portfolio to provide better touch response and content viewing experience to its customers.

Radisys demonstrated its Reach Smart Home solution for Smarter Living

Radisys showcased its end-to-end open telecom and digital engagement portfolio. The Radisys Reach Smart Home Gateway is the central point of the solution which enables the automation of home services as it connects seamlessly with sensors and cameras from multiple vendors with cloud back-end support.
Some other key features include a fully customizable, white-labeled mobile phone app, consolidated billing to integrate smart home offerings with existing services, remote management of smart home infrastructure and built-in analytics for providing personalized recommendations based on usage trends. And Radisys’ Smart Home Operator Dashboard provides meaningful business KPIs for advanced monetizing of new services.
The solution will provide service providers new opportunities to generate revenue streams and monetize the smart home by offering stickier services with broadband plans to increase customer loyalty.

Huawei launched seven new “Smart Office” products

The highlight of all these devices is how seamlessly they connect with each other (PC, smartphone, tablet and smart screen) to form a ‘Super Device’ for screen sharing and better collaboration. Huawei also showcased the Huawei Mobile App Engine, which is basically a mobile application for PC.
The major thing to note is that many of these products are launched for the first time in the market. For deeper analysis, please refer this link.
- MatePad Paper is Huawei’s first tablet with an E-Ink display.
- Huawei MateBook X Pro is the the world’s first product certified by TÜV Rheinland for pro-level dual colour gamut colour accuracy.
- Huawei MateBook E is Huawei’s first OLED laptop that combines the benefits of both traditional laptops and tablets.
- Huawei MateStation X is its first all-in-one PC with 28.2-inch screen size and 4K+ resolution display.
- While Huawei PixLab X1 is the company’s first entry into the printers’ market, the company also introduced its first portable speaker ‘Sound Joy’.
This clearly shows Huawei’s ambition to create smart offices for hybrid work requirements and create fresh experiences for global consumers. These devices will help to expand its IoT product portfolio and provide seamless integration across different devices. This will enhance customers’ lifestyle experience by providing them with better devices for multi-tasking and increased productivity.

Honor unveiled its new smartwatch ‘Honor Watch GS 3’ and earbuds ‘Honor Earbuds 3 Pro’

Honor Watch GS 3

This smartwatch comes with a stainless-steel material with 3D curved glass design and a 1.43-inch AMOLED screen. It comes with emerging features like Bluetooth calling and heart rate monitoring. In addition to these features, the watch supports fast charging and a QR code payment function.
The design of the smartwatch is inspired by traditional watches and is somewhat similar to the GT 3 model from last year.
The major highlight of the watch is its AI heart rate dual-engine algorithm, 8-channel PPG monitoring module, and frequency tracking algorithm which helps to accurately measure the heart rate in real-time.

‘Honor Earbuds 3 Pro’

It is claimed to be the world’s first TWS device that comes with a coaxial dual-driver design.
The device is priced at approx. USD 221 (EUR 199) and comes with a lot of other industry-first features as well like built-in temperature monitoring technology.
The interesting thing to note is its ‘abnormal temperature alert’ feature that sends an alert in case any abnormality is observed.
These features highlight the brand’s R&D efforts in the hearables

realme launched the Buds Air 3 and new Smart TV

realme expanded its true wireless portfolio with the launch of the Buds Air 3 model. This is the world’s first TWS device to be certified by TUV Rheinland Noise Cancellation meant for safety and quality.
The device offers a 46 dB adaptive Active Noise Cancellation (ANC) feature and fast charging support with up to 2 hours of playback with just five minute charge. realme will first start rolling out this new device in Europe.
This is a successor to the Buds Air 2 model from last year.
The biggest highlight of the Buds Air 3 model is its water-resistant design and active noise cancellation
The brand has focused on offering prominent features like ANC at an affordable price point in its recently launched devices, allowing it to grow its share in recent years. It was the second-largest TWS player in India in 2021 with a market share of 7%.

realme new Smart TV

realme introduced its new Smart TV for the European market which is going to be available in two different sizes – 32-inch and 50 inches priced at USD ~277 (EUR 249.99) and USD 555 (EUR 499.99) respectively.

The smart TV is equipped with Dolby Vision 4K display, bezel-less design, Dolby Atmos sound system, Voice Assistance feature and a MediaTek Quadcore Chipset.
The TV will be targeting the mid-segment and will be competing against devices from Xiaomi, Nokia, TCL and OnePlus. realme has quickly managed to grab a larger share of the India Smart TV market owing to its better features and attractive prices.
This new launch should help to enhance its brand outside the Indian market.

Nokia Released Nokia Go Earbuds2+ at ~USD 43 (EUR 39)

Nokia has expanded its audio accessories with the launch of its Nokia Go Earbuds2+ model. It will be available in select global markets.
The device features environmental noise cancellation, a 10mm dynamic driver, IPX4 water resistance and up to 24 hours of playback time.
Depending on the price band, it is providing audio offerings for both online and offline platforms. The smartphone player is looking to expand its IoT device portfolio and increase its revenue from the accessories business.

Conclusion

The majority of the laptops and other smart devices were launched with a special focus on the ‘security aspect’ and making these devices ‘connected with each other’ especially for business users due to the changing needs of a hybrid working environment. Along with this, there have been improvements in integrating these devices with smartphones, utilizing AI, adding third-party apps and voice control features for building a connected smart home ecosystem.

This is going to generate new revenue opportunities for both device players as well as service providers.

In the wearables segment, there has been an increased focus on health-related aspects. The new launches in smartwatches and TWS clearly show brand efforts to bring health-related features in wearables and hearables. As well, the inclusion of new AI capabilities to measure health more accurately in real-time is likely to provide a boost to this segment. Furthermore, increased emphasis has been put on fast charging technology and integrating voice assistance capabilities to these devices including smart TVs.

The cIoT market holds tremendous potential to grow in the upcoming period owing to an increased focus on affordability and integrating the latest tech innovations.

Smart Home Market Witnessing Rapid Growth

The shipments of WiFi-based smart home devices are estimated to grow at a CAGR of 21% between 2020 and 2025.
Smart television, security camera and smart speaker will be the major categories driving this market.
A wide variety of applications are driving the growth of this market, providing immense opportunities to many players across the value chain.

Over the past few years, there has been a surge in consumer awareness regarding the importance and benefits of using smart devices at home. A smart home is defined as a home where appliances can communicate with one another and can be controlled remotely from anywhere through an internet connection. The smart home market is growing rapidly due to the changing needs of customers, demand for greater comfort and security, recent advancements in technology, introduction of innovative products, and rising investments in this field. The COVID-19 pandemic has also provided the necessary boost to this segment, as consumers are spending more time at home and looking for home entertainment solutions and devices that can offer an increased level of automation.

Smart home market growth and applications driving it

The smart home market is quite fragmented with various products being introduced in all the emerging application areas. Each of these product categories has its own growth path and is supported by different wireless protocols like Wi-Fi, Bluetooth, Zigbee and Zwave. Among these, there is a great potential for Wi-Fi-based devices to grow due to their better connectivity, which is needed to operate the current smart homes effectively. Counterpoint has identified certain product categories in the smart home market which are more important in terms of growth and customer adoption. These product categories are smart speakers, smart TV, security camera, smart thermostat, smart lighting, smart kitchen (including smart fridge, smart dishwasher and smart oven), smart laundry (including smart washing machine and dryer), XR headsets and gaming consoles.

Exhibit 1: Main Smart Home Applications and Products

Source: Counterpoint Research Global Smart Home Market Report, 2021

We estimate that the shipments of such Wi-Fi-based devices will grow at a CAGR of 21% between 2020 and 2025. There are a wide variety of applications that are driving the growth of this market, such as home entertainment, energy management, safety and security, lifestyle and health, and smart appliances.

Exhibit 2: Global Smart Home Device Shipments (Key Categories )

Source: Counterpoint Research Global Smart Home Market Report, 2021

Major trends in market

Devices supporting digital assistants: Voice control is no longer confined to smart speaker devices. Digital assistants are increasingly becoming integrated into multiple home devices. This has led to greater consumer adoption. For instance, realme Smart Plug comes with Google and Alexa support. Similarly, we have thermostats (Ecobee), smart locks (August), and routers (Netgear) supporting digital assistants.
Wi-Fi 6 gaining popularity: Wi-Fi 6 chipsets and modules are now being installed in emerging smart home devices. For instance, Samsung’s latest 8K QLED TV is the world’s first TV to feature Wi-Fi 6 with a Mediatek chipset. Besides, we have seen routers from Netgear, Xiaomi, Linkys, TP-Link and D-Link supporting Wi-Fi 6.
Touch displays as user interface: Smart displays are primarily smart speakers with a display attached to them. Smart displays will act as the primary user interface, a central hub to control all other smart home devices like lights, TVs, fans, security cameras and door locks.
Introduction of Wi-Fi mesh systems: With the increasing number of smart home devices, having one Wi-Fi point in the house is no longer good enough. To be able to run more devices simultaneously, wider coverage is needed. Therefore, Wi-Fi mesh systems are increasingly becoming popular, as they help get rid of the internet dead zones or dead spots to provide seamless wireless coverage. Various brands like Netgear, TP-Link, Linksys and D-Link are launching Wi-Fi mesh systems to expand their portfolio beyond traditional routers.
New ways of monetization: Traditionally, we have seen brands offering a subscription model in which customers are required to pay a fee for a constant value. However, now companies are increasingly looking to identify new ways to monetize smart home technology, like service bundling, launching audio ads and using IoT data.

Emerging opportunities

Shift from devices to services: As device margins are fading away slowly, in the coming period, from a brand perspective, the focus will be more on the stickiness factor by offering innovative solutions and value-added services to customers on top of the device sale.
Role of advertising: Advertising will have a central role in smart homes. Advertisers will acquire vast amounts of consumer data and use advanced AI or ML algorithms to serve relevant, customized ads to users at appropriate times.
Offline retail is critical: Retailers can play a vital role in smart home adoption by launching consumer experience zones. This can be accompanied by promotional discounts, targeted marketing campaigns, and device bundling offers. For instance, Amazon provides a bundling offer of Echo speakers with Philips Hue bulb.
Connected lifestyle experience: Device makers have an opportunity to differentiate themselves and broaden their customer base by opening new product categories and expanding their product portfolio to offer a seamless connected lifestyle experience.
Tracking usage patterns: Businesses can utilize the vast amount of IoT data generated through systems and sensors to track consumer behavior and buying patterns. The data can also be used to improve customer experience and boost sales by offering proactive services like preventive maintenance and sending reminders through emails or calls whenever there is a shortage based on the customer’s usage patterns.
Content generation and storage: The increasing amount of data generated through smart devices like security camera generates strong demand for remote storage and access. Therefore, there is a growing potential for cloud-based players to enter this market, form partnerships and offer multi-device cloud-based solutions to their customers.

Challenges ahead

Compatibility: There are several different apps and various protocols which are used to manage and control smart home devices. Therefore, incompatibility is the biggest concern in smart home technology.
Security and privacy: Nowadays, a smart home collects and transmits data to servers to enable communication between sensors and applications without any user control. This may consist of sensitive personal information depending on the source and application type. To solve the problem posed by this critical privacy risk, there should be a privacy-aware context-sensitive framework that enables users to define privacy preferences for different settings.
High cost: The price point for certain categories of smart home devices is still very high for mass adoption. Companies need to launch devices that are cost-effective. Amazon and Google have shown some positive movement in this regard.
Connectivity: Network connectivity is one of the most common issues faced by smart home devices. This can be solved by switching to a better wireless router or a Wi-Fi mesh networking system to have consistent connectivity throughout the home.

The smart home market is still in a nascent stage. However, it is growing rapidly due to both demand- and supply-side push. Wi-Fi is going to be the major driver for growth. Cumulative shipments of Wi-Fi-capable smart home devices from 2020 to 2025 are likely to cross the six-billion mark. This fragmented market represents a billion-dollar opportunity for many players, including component suppliers, device manufacturers, retailers, platform and cloud partners, and telecom companies. The future of the smart home is built on two important factors – seamless integration and network connectivity. In the coming years, we estimate that the use cases will also start evolving to include areas like content consumption and e-commerce.

Podcast: Wi-Fi 6 to Drive Smart Home Connectivity by 2025

The smart home market has been steadily growing, with security cameras, smart speakers, and smart TVs currently dominating the market. According to Counterpoint’s latest research, growth at a CAGR of 21% is projected from 2019-2025. We are expecting six billion Wi-Fi capable smart home devices will be shipped globally between 2020-2025.

Smart speakers have been the fastest-growing smart home devices due to the low entry barrier. They offer access to voice assistants and let you control other smart home devices. Security cameras offer additional layers of security and peace of mind, whereas connected TVs challenge conventional cable viewing by helping people ‘cut the cord’. In the next five years, other segments such as dishwashers, refrigerators, and laundry machines with smart home capabilities are likely to get more mainstream.

In the latest episode of “The Counterpoint Podcast” host Ritesh Bendre and Counterpoint Research analyst Maurice Klaehne discuss the current state of the smart home market. Maurice sheds light on why we believe Wi-Fi 6 will drive the smart home connectivity by 2025. The discussion also touches up the strongest growth areas in the segment as more household items become connected. These include white goods, smart lighting, and home automation segments.

Hit the play button to listen to the podcast

Also available for listening/download on:

Smart Home Market Poised to Grow Rapidly by 2025, Lead by Wi-Fi Connectivity Adoption

More than six-billion Wi-Fi capable smart home devices to be shipped between 2020-2025

Boston, Toronto, London, New Delhi, Beijing, Taipei, Seoul – 24^th April 2020

According to Counterpoint’s latest Smart Home research, the global smart home market is projected to grow at a CAGR of 21% from 2019-2025. The strongest growth areas include white goods, smart lighting, and home automation segments as more household items become connected to a smart home ecosystem.

Sharing the research findings, Research Analyst Maurice Klaehne, noted, “The current smart home market is dominated by three categories, smart TV, security cameras, and smart speakers. Each of these markets have different drivers which have made them successful. Smart TV’s have seen great adoption in North America and China as streaming media options such as Netflix or iQiyi have grown in popularity over the years. Connected TVs are also challenging conventional cable viewing habits and making people ‘cut the cord’. The COVID19 pandemic will further accelerate this trend.”

Klaehne continued, “For security cameras, price reductions in connected cameras have enabled more people to purchase cameras for their home to offer additional layers of security and peace of mind. Lastly, smart speakers have been one of the fastest-growing markets to date due to the low barrier for entry for consumers to gain access to a smart home device. Smart speakers satisfy multiple smart home use-cases, capable of streaming music, enabling personal voice assistant services such as Alexa, Google Assistant, AliGenie, Siri, and others, and acting as a smart home hub even for other devices.”

Speaking about future growth areas, Senior Analyst Hanish Bhatia, added, “Connected white goods and smart lighting systems will be the fastest-growing segments over the forecasted period. White goods such as dish washers, refrigerators, and laundry machines are increasingly becoming ‘smart’ through added Wi-Fi or other connectivity modules. These give consumers more data on their device which can then be used to better manage home energy consumption and help in product maintenance and care. For smart lighting systems, there are currently pain-points around pricing and properly connecting the system to a smart home hub. However, costs for these systems will continue decreasing and improved connectivity solutions will alleviate these pain-points in the future.”

Commenting on the key connectivity drivers, Bhatia, elaborated, “Wi-Fi is expected to be the major driver to enable smart capabilities and will contribute to three-fourths of all connectivity types in smart home devices in 2025. More than six billion Wi-Fi capable smart home devices will be shipped globally between 2020-2025. China and North America will contribute close to half of all those shipments. Further, the increased speed and load capacity capabilities of the latest Wi-Fi 6 version will be key to keep dozens of content and performance-centric devices seamlessly connected in a smart home and thus feature in a majority of shipments by 2023. We will also see major cost reductions in Wi-Fi 6 modules over the next years which will also help grow this segment.”

The comprehensive research on Smart Home is available at Counterpoint’s Research Portal

BONUS Podcast: Wi-Fi 6 to Drive Smart Home Connectivity by 2025

For any queries reach us at:

Top

Coverage: Smart home Tracker