A total of 2.5 million Western European households will have a smart home controller by 2019, according to a research by Parks Associates. Smart home systems will need the flexibility to deliver multiple value propositions within the household, researchers said. Interoperability is necessary to achieve recurring revenue models as it enables devices to deliver a broad array of value-added services and features, according to researchers.
The key challenges in the smart home market include low consumer awareness and lack of a concise value proposition, researchers noted. The industry will overcome low awareness over time, thanks to the entry of high-profile players in the consumer IoT ecosystem, but to create value on a mass-market scale, smart home products must be able to integrate multiple features, the same research said.
Stuart Sikes, President, Parks Associates, will discuss the growth of the smart home and its implications at Smart Home Summit, 29-30 September in London.
From the article "2.5 mln EU households to have smart home controllers by 2019" by telecompaper.com
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