Table of Content
- Download our eBook: How to Succeed Using Market Research
- Berg Insight says 31 million North Americans used connected care solutions in 2022
- The installed base of fleet management systems in Australia and New Zealand to exceed 2.3 million units by 2026
- The Cold Chain Tracking and Monitoring Market – 2nd Edition
While sales in brick-and-mortar stores declined, online sales instead surged. Many people spent more time at home during the pandemic and thus became interested in smart home products that improve their home. The European market for smart home systems is still a few years behind North America, bothin terms of market penetration and maturity. At the end of 2019, there was a total of 111.9million smart home systems in use in the EU28+2 countries, up from 83.9 million in theprevious year. Around 10.8 million of these systems were multifunction or whole-home systems whereas 101.1 million were point solutions. This corresponds to around 40.3 millionsmart homes when overlaps are taken into account, meaning that 17.4 percent of allhouseholds in Europe were smart at the end of the year.
Then, once it gets the hang of a user’s preferences, it automatically plays just the right playlists or dims the lights before bedtime. “That’s really the next evolutionary step in true automation,” says John Clancy, head of Crestron’s residential business. The Covid-19 pandemic has so far had a very limited negative effect on the smart homemarket in North America and Europe. While sales in brick-and-mortar stores declined, onlinesales instead surged.
Download our eBook: How to Succeed Using Market Research
The number of professionally monitored alarm systems in Europe is forecasted to grow at a compound annual growth rate of 4.5 percent, from 17.6 million in 2021 to reach 21.9 million in 2026. In North America, the number of monitored alarm systems is forecasted to grow at a CAGR of 3.0 percent, from 33.6 million in 2021 to 39.0 million in 2026. Security systems for small businesses and private homes can be divided into three main categories – local, self-monitored and professionally monitored security systems. When activated, a local security system emits an alarm sound to alert the surroundings and scare off intruders.
If such a device went into production, cameras and sensors could help prevent it from accidentally injuring an innocent bystander who’s just on the way to the fridge for a quick snack before dinnertime. We produce concise reports providing key facts and strategic insights about pivotal developments in our focus areas. Our vision is to be the most valuable source of intelligence for our customers.
Berg Insight says 31 million North Americans used connected care solutions in 2022
A point solution will in many cases constitute the consumer’s first smart home purchase.Compared to whole-home systems, point solutions generated 62 percent of the combinedmarket revenues in North America and Europe. The most popular point solutions to date, interms of sold units, include smart thermostats, smart light bulbs, smart plugs, connectedsecurity cameras and voice controlled smart speakers. These products are marketed byincumbent OEMs such as Signify, Resideo, Danfoss, Belkin, Chamberlain, Kwikset and AssaAbloy and newer entrants such as Ecobee, Sonos, Arlo, Netatmo, IKEA and Wyze Labs. Inthe whole-home system market, traditional home automation vendors such as CrestronElectronics, Control4, Savant Systems, eQ-3 and Loxone are facing new competition ascompanies from adjacent industries have entered the market. The installedbase of smart home systems increased by 28.5 percent to reach 172.6 million at the yearend.
Berg Insight has its headquarters in Gothenburg, Sweden and serves clients around the world. This report in the IoT Research Series provides you with 310pages of unique business intelligence including 5-year industryforecasts and expert commentary on which to base yourbusiness decisions. According to a new research report from the IoT analyst firm Berg Insight, the number smart homes in Europe and North America reached 102.6 million in 2020. Berg Insight today released new findings about the market for home and small business security systems. Security cameras are now also commonly part of new home security system installations, as the price for such devices has dropped in recent years and developments of video software has enabled a greater value for home and small business owners.
The installed base of fleet management systems in Australia and New Zealand to exceed 2.3 million units by 2026
The market opportunity and growth potential in the smart home market are still enormous. Products and systems related to security and energy management have so far been the most successful as they provide a clear value for consumers. Health applications will drive at least some of the smart-home growth over the next decade. Cameras and sensors embedded in refrigerators will suggest more nutritious alternatives if people are reaching for the sugary sodas a little too frequently. Similar technology in medicine cabinets will check if residents have taken their prescriptions.
A professionally monitored security system is connected to an Alarm Receiving Centre . When the system is activated, the ARC can dispatch a security patrol and contact emergency services. Smart vacuum cleaners like iRobot’s Roomba are already picking up after us, while products like the Aibo, a robotic dog for children, show how they might help keep us company like a pet. Robotic-furniture company Ori Living is working with Ikea on pieces that change based on your needs, getting the bed out of the way when you need a desk, or hiding your closet when it’s dinnertime. The fabric-covered bot is meant to slowly roll around your home, activating its retractable cameras and sensors to detect intruders, notify you of any harmful emissions or keep an eye on your pet. And computer-graphics company Nvidia is working on a smart robotic arm that can act as its owner’s personal sous chef, doing everything from slicing and dicing veggies to helping with cleanup; it could be particularly useful for busy parents or disabled users.
And sensors will even show up in toilets to check for signs of any potential health conditions by scanning human waste before it’s flushed. Bathroom-fixture company Toto has experimented with urine-sampling toilets, while one company has filed patents for devices including a mirror that’s meant to monitor users’ health just by analyzing their skin. Homes will have health sensors of their own, too, that check for issues like water damage, pest infestation and so on, alerting owners to any potential problems before they become far costlier to manage. A range of technological developments will drive smart-home technology well beyond what’s available on store shelves today.
All this learning and scanning that the smart home of the future will be doing may understandably raise privacy concerns. Indeed, some smart-home devices have already been targeted by hackers, whether to access the data they hold or to use them as tools in larger cybersecurity schemes. A bill put forth by Virginia Senator Mark Warner in March would push the government to set up minimum security requirements for smart devices used by federal agencies; such requirements could eventually become standard for the industry at large. Statistical data on adoption of smart home systems in Europe andNorth America. Smart Homes and Home Automation is the eighth consecutivereport from Berg Insight analysing the latest developments on theconnected home markets in Europe and North America.
The number of Europeanhouseholds to adopt smart home systems is forecasted to grow at a compound annualgrowth rate of 20.2 percent during the next five years, resulting in 101.1 million smarthomes by 2024. The market value grew by 28.7 percent to € 16.6 billion (US$ 18.5 billion) in2019. The market value is forecasted to grow at a CAGR of 24.3 percent between 2019 and2024 to reach € 49.0 billion (US$ 54.9 billion) at the end of the forecast period. The market for whole-home systems is served by traditional home automation specialists, home security providers, telecom operators and DIY solution providers. On the North American market, interactive home security systems have emerged as the most common type of smart home systems. In Europe, traditional home automation systems and DIY solutions are more common as whole-home systems.
An estimated 19.1 million of these were multifunction or whole-home systems whereas153.5 million were point solutions designed for one specific function. As some homes havemore than one smart system in use, the installed base totalled an estimated 43.1 millionsmart homes at the end of the year. This corresponds to 30.2 percent of all households,placing North America as the most advanced smart home market in the world. Between 2019and 2024, the number of households that adopt smart home systems is forecasted to grow ata compound annual growth rate of 12.5 percent, resulting in 77.9 million smarthomes. The market value reached US$ 27.0 billion (€_24.1 billion) in 2019, an increase of20.5 percent year-on-year. The market value is expected to grow at a CAGR of 14.1 percentbetween 2019 and 2024, reaching US$ 52.3 billion (€ 46.7 billion) in yearly revenues at theend of the forecast period.
Smart home products thatmake people feel safer at home as well as enable time-savings and convenience are likely tobe popular among the many people that spend an increasing share of their time at home. “Vendors of smart home products in other segments need to develop solutions where connectivity offers time savings, cost savings or other benefits that consumers are willing to pay a premium for”, concludes Mr. Backman. A self-monitored security system is connected and informs the owner of the premises upon activation by sending a text message, email or push notification through a smartphone app.
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