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Connected Products Driving Smart Home Growth

January 24, 2017

home automation

consumer electronics

Security Systems News

Following Parks Associates’ research that came out of the Consumer Electronics Show earlier this month showing approximately 26 percent of U.S. broadband households today now own a smart home device—up from 19 percent at the end of 2015—several more studies on the growth of the smart home have popped up.

For example, a new report out this week from Zion Market Research, titled “Smart Home Market: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022,” finds that the global smart home market—valued at around $24.10 billion in 2016—is expected to reach approximately $53.45 billion in 2022, growing at a CAGR of slightly above 14.5 percent between 2017 and 2022.

From the article "Connected Products Driving Smart Home Growth" by Paul Ragusa.

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Other barriers for increasing adoption are concerns about security and privacy. With more reports in mainstream media about smart home devices being hacked, the public awareness of this issue has incr...

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