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Global IT Spending Market for Smart Homes 2016-2020

  • Published: Sep 2016
  • Pages: 71
  • SKU: IRTNTR10348
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This market research report analyzes the key players in the global IT spending in smart home market such as Cisco, Honeywell International, Intel, Schneider Electric, and Verizon Communications. The report also presents a competitive analysis of the market by technology (IT services, hardware, and software) and by geography (the Americas, APAC, and EMEA).

Global outlook of the IT spending in smart home market

Technavio’s market research analysts predict the global IT spending in smart home market to grow steadily during the next four years and post a CAGR of more than 18% by 2020. This industry research report identifies the increased use of smart sensor technology to be one of the major factors that will have a positive impact on the growth of this market in the coming years. The growth in the development of smart cities has resulted in the increased adoption of advanced IT solutions, such as M2M communications and analytics. Smart sensors are used to support smart projects such as smart traffic, smart lighting, smart waste management, and also in monitoring smart grids. Moreover, the implementation of the Internet of Things (IoT) in infrastructure development also results in the adoption of smart sensor technology, where the sensors are used to enable devices detect gestures and motions that help in making real-time decisions.

The increased adoption of voice-controlled intelligent systems is one of the major trends that will gain traction in this market during the forecast period. Used to control and automate smart home devices through voice commands, these systems can be easily programmed to perform specific tasks. Additionally, technological advancements in voice intelligent systems will attract several software developers to develop solutions that simplify communication systems in smart homes. One of the leading companies ABB, has already introduced voice-activated smart home systems that enables users to control home appliances through voice commands.

Competitive landscape and key vendors

Characterized by the presence of several vendors, the market appears to be fragmented and is dominated by the large and medium-sized vendors. The competition among vendors in the IT spending in smart home market is quite fierce. Leading vendors in the market directly compete with software and hardware companies who offer IoT solutions. The market is also marked by a number of start-up companies that raise funds from angel investors and crowdfunding platforms, which intensifies the competition among existing vendors. Organizations evaluate vendors based on several parameters such as technical expertise, total offerings, and degree of superiority in their product offerings, which in turn, also adds to intensifying the vendor competition. To increase their market share, sustain the competition, and expand their global reach, few leading vendors have also started following M&A strategies.

The leading vendors in the market are -

  • Cisco
  • Honeywell International
  • Intel
  • Schneider Electric
  • Verizon Communications

The other prominent vendors in the market are Accenture, Alcatel Lucent, Amazon Web Services (AWS), ARM Holdings, Dell, Ericsson, GE, Google, Huawei, Infosys, Microsoft, Oracle, Qualcomm, and Telefonica.

Segmentation by technology and analysis of the IT spending in smart home market

  • IT services
  • Hardware
  • Software

The IT services segment includes system integration, IT support and maintenance, IT security, and IT consulting services. IT services protect smart devices from unauthorized users and online cyber-attacks and also assist in the implementation of smart home solutions. According to the report, this segment will dominate the market throughout the forecast period and will post an impressive revenue of almost USD 42 billion by 2020.  

Geographical segmentation and analysis of the IT spending in smart home market

  • Americas
  • APAC
  • EMEA

This market study predicts that in terms of geographical regions, the Americas was the major revenue contributor to the market during 2015 and accounted for more than 48% of the total market shares. The availability of advanced ICT infrastructure and awareness among people about home automation solutions are major factors that drive the demand for smart home appliances in this region. North American countries such as the US and Canada are identified to be the major contributors in terms of the adoption of home automation solutions.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the global IT spending in smart home market?
  • What are the key market trends impacting the growth of the global IT spending in smart home market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global IT spending in smart home market?
  • What are the market opportunities and threats faced by the vendors in the global IT spending in smart home market?
  • Trending factors influencing the market shares of the Americas, APAC, and EMEA.
  • What are the key outcomes of the five forces analysis of the global IT spending in smart home market?

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Related reports

Home automation involves the control of lighting, ventilation, heating, appliances, air conditioning (HVAC), and security. It is a residential extension of building automation. The automation system comprises a central hub called the ‘gateway,' connected to switches and sensors. A user interface controls the system and interacts either with a wall-mounted terminal, tablet computer, mobile phone software, or a web interface. The smart home space is highly fragmented. Very few vendors are accepted globally and standardized, though there exists a huge number of competitors. X10, Ethernet, ZigBee, Z-Wave, RS-485 are few of the popular suites of products that are incompatible with each other. Manufacturers often prevent independent implementations by suing people or by withholding documentation.

The report, global IT spending market for smart homes, is part of Technavio’s ICT research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as automatic identification system, cloud computing, data center, enterprise application, IT security, ITO and BPO, and product lifecycle management. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.

Table of Contents

PART 01: Executive summary

  • Highlights

PART 02: Scope of  the report

  • Market overview
  • Countries covered
  • Top-vendor offerings

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights

PART 05: Market landscape

  • Market overview
  • Five forces analysis

PART 06: Market segmentation by technology

  • Global IT spending in smart home market by technology
  • IT services
  • Hardware
  • Software

PART 07: Geographical segmentation

  • Global IT spending in smart home market by geography
  • Americas
  • EMEA
  • APAC

PART 08: Market drivers

  • Increased spending on IoT-enabled devices and M2M communication systems
  • Higher spending on smart community projects
  • Need for efficient ICT infrastructure for home automation
  • Increased use of smart sensor technology

PART 09: Impact of drivers

PART 10: Market challenges

  • Interoperability and system integration issues
  • Slow rate of technology adoption
  • Lack of adequate ICT infrastructure

PART 11: Impact of drivers and challenges

PART 12: Market trends

  • Emergence of artificial intelligence
  • Rise of smart robotics
  • Increased adoption of voice controlled intelligent system
  • Upsurge of analytics of things

PART 13: Vendor landscape

  • Competitive landscape
  • Other prominent vendors

PART 14: Key vendor profile

  • Cisco
  • Honeywell International
  • Intel
  • Schneider Electric
  • Verizon Communications

PART 15: Appendix

  • List of abbreviations

PART 16: Explore Technavio

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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