Global Smart Hubs Market 2017-2021

Overview of the global smart hubs market

The increasing penetration of smartphones is directly proportional to the adoption of the smart hubs.  Smartphones are used to control several connected devices influenced by the widespread internet connectivity. Technavio’s market study has identified the growing smartphone penetration and increasing internet speed as one of the primary factors for the growth of the smart hubs market. Increased internet speed and smartphone penetration will also contribute to the demand for connected devices, which will consequently, drive the need for smart hubs. Our market research analysts estimate that this market will grow steadily at a CAGR of greater than 5% by 2021.

Several players in the market are offering smart home speakers that are controlled by voice-controlled intelligent personal assistants, and are equipped with smart features like voice control, calling, messaging, and playing music. For instance, Amazon developed Amazon Echo that works on Alexa that efficiently answers questions, reports traffic and weather, reads the news, gives information on local businesses, reads audiobooks from Audible, provides sports scores and schedules, and controls connected devices. The increased availability of voice-based speakers is identified to be one of the key trends contributing towards the growth of the smart hubs market.

Competitive landscape and key vendors

The smart hub market is moderately populated due to the presence of well-diversified international and regional vendors. International vendors dominate the home automation hub market in terms of quality, technology, and price. Increase in product or service extensions and technological innovations will further increase the competitive environment of the market. To attain competitive advantage in the home automation hub market, vendors are investing in R&D and developing innovative products.

The leading vendors in the market are

• LG Electronics
• Logitech
• SmartThings
• WINK LABS

The other prominent vendors in the market are CONTROL4, Cozify, Crestron Electronics, Insteon, Lowe's, SmartBeings, Vera Control, Vivint, and Zipato.

Segmentation by distribution channel and analysis of the smart hubs market

• Specialty retailers
• Electronic stores
• Online
• Discount stores

Specialty retailers will account for major market shares supported by the consumer’s preference for this distribution channel to purchase smart products. Specialty stores offer wide variety of brands and products and maintain uniformity in their product offerings. Also, they comprise brand-specific stores and multi-branded stores, contributing towards the growth of the home automation hub market.

Geographical segmentation and analysis of the smart hubs market

• Americas
• APAC
• EMEA

In Americas, North America accounts significantly towards the growth of the home automation hub market. Factors such as strong economic developments, high degree of internet penetration, and the increasing number of smartphone users will further influence the demand for technology-oriented products.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global smart hubs market?
• What are the key market trends impacting the growth of the global smart hubs market?
• What are the challenges to market growth?
• Who are the key vendors in the global smart hubs market?
• What are the market opportunities and threats faced by the vendors in the global smart hubs 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 smart hubs market?

Technavio also offers customization on reports based on specific client requirement.